So what do you consider a really good salary? Obviously, a million bucks would be awesome, but what about 6-figures? That used to the benchmark of a great salary, but based on the cars I see people driving and the houses that sell every day around here, I'm starting to think that maybe that's common these days. Am I the only one who thinks lots of people are making lots of money and I'm not in the club?
More than your wife can spend.
It's all relative.
Cost of living in RI/MA/northeast is HIGH. $100k/year household income yields a pretty moderate lifestyle around here. I couldn't swing 2 new cars on that, for sure.
Most of my friends/peers are doing MUCH better than us, though.
honestly, guys, haven't we had enough of this rubbish
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
I will not lock the stupid thread
Enough so you don't run out of hookers and blow? A good salary is all relative. I bet some people are happy being broke, then you have people that have WADS of cash and still aren't happy.....
I feel like only in the past couple years have we reached a point where we can sustain our family of 6 with reasonable comfort, and enough extra for the unexpected. But there's no new cars, and we don't really have/do anything "luxurious"…and cost of living is cheap here.
It honestly feels like we would need another $25k/year to be confident enough for our retirement days that we would be able to buy a new car every 2.5-years or so(1 for each of us, offset by 2.5-years). Although hopefully as the kids gain independence over the next few years we will (eventually) begin to save money on clothes, food, etc.
We've worked hard to get to this point, and I know many people around our age who are in a far worse financial state. I am truly scared for them. 
ThunderCougarFalconGoat wrote: More than your wife can spend.
my wife and i gross 250k combined per year, no happier than we were when it was 40k combined, just older and tired......just be happy.....uncle sam considers 250k a medium household income. just be happy bro.
it is all dependent on one thing. What do you feel comfortable making? Some people -never- make enough money and others are happy on 20K a year.
The wrote: my wife and i gross 250k combined per year, no happier than we were when it was 40k combined, just older and tired......just be happy.....uncle sam considers 250k a medium household income. just be happy bro.
How so?
The IRS puts the median around $52k/year IIRC.
250k/year puts you in the top 2-3% of all wage earning households.
Enough for a fridge full of pickled bologna and a cinder block foundation for the singlewide
Such a relative discussion. I make 45% more than I did just 18 months ago. That's much less about me being a baller and much more about how little I was making for the work I was doing.
When I first started my previous job, I was not getting paid a ton, but I loved the work, enjoyed my coworkers, and could take care of my bills. I wasn't really moving forward. Eventually, the job became less challenging but more difficult. Eventually, the pay increased a modest but respectable amount. The tradeoff was that I went from hourly (with overtime) to salary. The position didn't change any, and I ended up working the same hours, and taking home less per hour.
Now, I'm enjoying my work, and I have some breathing room and a little more money in my bank account. Enough that there is money that actually goes into savings on a consistent basis. Of course I'd love more money, but it's not my primary motivator.
My wife makes similar money to me. Money is a much bigger motivator for her. Even above 6 figures, I think she would be looking for opportunities to grow her income.
If you like your work, and can do the things you want in your life, how you're doing compared to others doesn't really matter.
I try to let my paycheck outpace my bills.
Over 80% of today's millionaires are self made, just like 68% of billionaires. They have earned their money by working their butts off.
Edison said “We often miss opportunity because it's dressed in overalls and looks like work.”
For me? More than I make.
For you? Less than I make.
T.J. wrote: http://www.mrmoneymustache.com/
I wish I could +1 this more than once. If it's you, TJ, that turned me onto that website THANK YOU!!! He and Dave Ramsey changed my life!
We are on the low end of middle class where we live and it sort of sucks. 
Six figures is a very good salary, and puts you in the top 7% of all single earners. Probably most of the people you see living in those houses, and driving those cars cannot actually afford them.
bastomatic wrote: Six figures is a very good salary, and puts you in the top 7% of all single earners. Probably most of the people you see living in those houses, and driving those cars cannot actually afford them.
Yep.
The more you make, the more you'll spend.
Lets say person A makes "X" and can stretch their budget to buy a 30K car.
Person B makes 3 times "X" and can stretch their budget to buy a 90K car.
Will person B buy the 30K car and have a comfy cash cushion?
I suspect it varies to much on area but I would think if you are in the top 20% of households in your county that's a good income. I don't know if these kind of numbers are available though.
I've always wanted to do a pole to see what the average debt to income ratio is. It would be interesting to see how many are less than one and how many are greater than 5.
Depends on where you live. My brother lives in SW PA and has a 3000 sqft house on an acre of land. I live in Central MD in a 2000 sqft house on a 75' x 150' lot.
My house is appraised and taxed at 2.5 times what his is. That would seem to indicate that a good salary there wouldn't do much around here.
nocones wrote: I suspect it varies to much on area but I would think if you are in the top 20% of households in your county that's a good. I don't know if these kind of numbers are available.
Here is something simple to use, and probably close enough.
In reply to bastomatic:
According to that we are doing way better than I think we are. Maybe I need a change in perception...
z31 said: How so? The IRS puts the median around $52k/year IIRC. 250k/year puts you in the top 2-3% of all wage earning households
sir, i very well may have been wrong there, info from the little women.
Depends on where you live. Around here, I make more than the vast majority of my customers (that goes back to the earlier post about people living beyond their means), it means I can live in a nice n'hood etc. But- take that income and put me in New York or New Jersey and I'd be living in a refrigerator box under an overpass somewhere.
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