erynthered Posted June 23, 2008 Share Posted June 23, 2008 100K/year isn't something to sneeze at but it's not exactly easy living. Thats being Rich. They should be taxed more. They can afford it!! <pbills, joepasta, molson, boosterretard, everywhinningcryingbleedingheartliberalinamerica> Link to comment Share on other sites More sharing options...
Wacka Posted June 23, 2008 Share Posted June 23, 2008 Wow... Got me looking... Check out this dump in the Bay Area (Pleasanton) for 654k!... I don't know the area... Looked on the map to see how far out it was from SF-OAK... Highway Robbery Something like this in my area would be in the low 100's.... Just saying, a lot of you guys throughout the country (outside the Chicago area) are getting raped! I currently live in Dublin, CA which is just north of Pleasanton. What you don't see is that the homes here have no yards. Your neighbor on each side is 15-20 feet away and if you put in a built-in pool, it takes up the entire back yard. My town has more than doubled in population in the last 10 years. My cheap rent for a 2 bedroom 20 year old apt is more than the mortgages of anyone I know back in Buffalo. Condos are over 500K. Link to comment Share on other sites More sharing options...
Chef Jim Posted June 23, 2008 Share Posted June 23, 2008 I know enough to know that $100k a year isn't goin to be the life of kings with Dom Perignon sitting in your hot tub with a playboy bunny waiting for you. However, $100k/year, if managed in a shrewd and efficient manner, can go a long way. FWIW, you are talking to someone who lived in a car for a summer (during my college years) and lived with a well off relative for a summer (when I was in my teens). I have seen how the poor, the middle class, and the upper middle class have lived. Now, for most parts of the country, you should easily be able to afford two cars, a mortgage on a reasonably priced home, bills and other day to day expense. To me, that is being rich, you can afford everything that you need and some things beyond that. Anything beyond that is personal excess. Holy cow, that's one of the funniest things I've ever read. Owing two cars, a home and paying your bills makes you rich? Affording necessities and a FEW thing above that makes you rich. Time for someone to buy a clue Link to comment Share on other sites More sharing options...
/dev/null Posted June 23, 2008 Share Posted June 23, 2008 Thats being Rich. They should be taxed more. They can afford it!! <pbills, joepasta, molson, boosterretard, everywhinningcryingbleedingheartliberalinamerica> Don't forget.... $100k! That's more than I make. They should be taxed more! /every Democrat making under $100k Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted June 23, 2008 Share Posted June 23, 2008 Sheeet...I could live pretty well on $100k a year. Not liek Trump or anything, but comfortable. Link to comment Share on other sites More sharing options...
bills_fan Posted June 23, 2008 Share Posted June 23, 2008 Sheeet...I could live pretty well on $100k a year. Not liek Trump or anything, but comfortable. On the other hand...in NYC, you would be barely above the poverty line. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted June 23, 2008 Share Posted June 23, 2008 On the other hand...in NYC, you would be barely above the poverty line. Everything's relative, of course. Link to comment Share on other sites More sharing options...
Chef Jim Posted June 23, 2008 Share Posted June 23, 2008 Everything's relative, of course. Which is why you can't or shouldn't have a progressive federal tax system based on how much you make. Link to comment Share on other sites More sharing options...
KD in CA Posted June 23, 2008 Share Posted June 23, 2008 Which is why you can't or shouldn't have a progressive federal tax system based on how much you make. But isn't taxing people based on what they produce the best way to curb the appetite of a society that consumes too much? Link to comment Share on other sites More sharing options...
/dev/null Posted June 23, 2008 Share Posted June 23, 2008 Everything's relative, of course. How'd we go from talking about NYC to West Virginia? Oh wait, nevermind. I thought yousaid everyone's relative. Link to comment Share on other sites More sharing options...
Ramius Posted June 23, 2008 Share Posted June 23, 2008 How'd we go from talking about NYC to West Virginia? Because think of the west virginians. Try telling them that their neighbor who makes 100K isnt rich when he's hauling 25 extra lotto tickets home to his triple-wide every day. Link to comment Share on other sites More sharing options...
John Adams Posted June 23, 2008 Share Posted June 23, 2008 Sheeet...I could live pretty well on $100k a year. Not liek Trump or anything, but comfortable. Between you and your wife, you make over 100K. Teachers are rich and have it easy. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 24, 2008 Share Posted June 24, 2008 When you get to the real world, give us a call. INCOME Let's assume your salary is 100K. I'll lop off about 30K to various taxes because it makes easy math, so you have 70K to spend in a year. INCOME TOTAL: 70,000 BILLS (yearly): Mortgage(200K home/30yr mortgage with with property tax estimated): 24K Student loans (100K): 12K Childcare for 2 kids: 12K Food: 12K __ Those are the big bills. And they add up to 60K. Which leaves 10K for things like saving for college (for kids). Retirement savings. Healthcare (good luck paying for healthcare for a family of 4 for 10K). Cars. Gas. Phone. Water. Better hope the roof doesn't leak. Good luck with your theory that 100K can "go a long way." The only problem I have with that is that at 70k income... One shouldn't be in a 200k house... And your estimate is high... I would say no more than 18k a year with taxes in. Like I pointed out here in Chicago... Just as in BFLO, you can find a nice place in a nice area for just over 100K... Really. Rent first and save up for a down payment. It is really too bad about the other markets though. 100k, I agree isn't much... But, man you can make 100k stretch far in a big market like some areas around Chicago and the Midwest... St. Louis, even better! Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 24, 2008 Share Posted June 24, 2008 I currently live in Dublin, CA which is just north of Pleasanton. What you don't see is that the homes here have no yards. Your neighbor on each side is 15-20 feet away and if you put in a built-in pool, it takes up the entire back yard. My town has more than doubled in population in the last 10 years. My cheap rent for a 2 bedroom 20 year old apt is more than the mortgages of anyone I know back in Buffalo. Condos are over 500K. Figured that about the lots just from browsing the pictures... Man they are on small footprints and for all that money! Link to comment Share on other sites More sharing options...
SD Jarhead Posted June 24, 2008 Share Posted June 24, 2008 The only problem I have with that is that at 70k income... One shouldn't be in a 200k house... And your estimate is high... I would say no more than 18k a year with taxes in. Like I pointed out here in Chicago... Just as in BFLO, you can find a nice place in a nice area for just over 100K... Really. Rent first and save up for a down payment. It is really too bad about the other markets though. 100k, I agree isn't much... But, man you can make 100k stretch far in a big market like some areas around Chicago and the Midwest... St. Louis, even better! So where do you live then? Good luck finding a house for close to $200k where I live. WRT your disagreement with his tax estimate, do a little research and find that the Federal Tax bracket for a married couple filing jointly earning between $65k and $131k is 25%. That is before the State gets its pound of flesh. So he is much closer than you think. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 24, 2008 Share Posted June 24, 2008 So where do you live then? Good luck finding a house for close to $200k where I live. WRT your disagreement with his tax estimate, do a little research and find that the Federal Tax bracket for a married couple filing jointly earning between $65k and $131k is 25%. That is before the State gets its pound of flesh. So he is much closer than you think. MidWest. Oh... I understand that SD... Hence my last sentence. I am just saying that there are big markets where you are not raped by housing costs. I didn't disagree with his taxing estimate and the 30k he first took off... I do disagree with his property tax and the mortgage. You can find cheaper areas around SOME big markets. My family income is in the low to mid 100's and after it was all said and done... We shelled out under 10%... We got back pretty sizable refunds with the Fed and IL. Then again... We sock a ton of money away and live well below our means. We have two new cars, 10 year old house and shell out over 5k to send our children to a Catholic school. And again... It is the area... But, there are areas around some big markets that you can live nicely and still be below your means. Link to comment Share on other sites More sharing options...
justnzane Posted June 24, 2008 Share Posted June 24, 2008 Holy cow, that's one of the funniest things I've ever read. Owing two cars, a home and paying your bills makes you rich? Affording necessities and a FEW thing above that makes you rich. Time for someone to buy a clue Now, you guys are taking me for being uniformed. However, that is not the case. Yes, having food in you belly, roof over your head, transportation to your job, and a little extra is still better than most have it around the world. Is 100k going to buy you everything in the world? Of course not, but it will buy enough to afford the bare necessities. Some of you guys think that we are entitled buy the little extras here and there, but having the little extras is the difference between being really poor to middle class to being rich. 100k/yr can afford few of these extras, but not superfluous excess like a yacht, a plane, and a 10 bedroom home with 5 bathrooms and a pool. The difference between living comfortably or barely making it is, as EinI mention, living within your means. You will find more people that make 100k/year living comfortably than people making 30k/year. This brings me to my definition of rich. I see richness as a term of fulfillment. So by my definition, a man that makes $30k/yr, but provides enough for his kids can be rich. Most making $30k/year aren't rich. I see it more as a state of mind. By the same token, you can have Bill Gates not being rich enough. Just my $.02 Link to comment Share on other sites More sharing options...
Chef Jim Posted June 24, 2008 Share Posted June 24, 2008 This brings me to my definition of rich. I see richness as a term of fulfillment. So by my definition, a man that makes $30k/yr, but provides enough for his kids can be rich. Most making $30k/year aren't rich. I see it more as a state of mind. By the same token, you can have Bill Gates not being rich enough. Just my $.02 Oh man, I bet you burn incense, bang a gong and chant too. And on your deathbed you'll have total consciousness goin' for ya....which is nice. I bet you're also the one that says money can't buy you happiness too? Well maybe it can't, but it can buy you a big ole yacht and you can sail riiiiight up next to it. So next time I'm at the Ritz and I order a bottle of very expensive Champagne, should I just tell them to bill it to my state of mind? I understand what you're saying, but having a lot of money sure helps. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 24, 2008 Share Posted June 24, 2008 Oh man, I bet you burn incense, bang a gong and chant too. And on your deathbed you'll have total consciousness goin' for ya....which is nice. I bet you're also the one that says money can't buy you happiness too? Well maybe it can't, but it can buy you a big ole yacht and you can sail riiiiight up next to it. So next time I'm at the Ritz and I order a bottle of very expensive Champagne, should I just tell them to bill it to my state of mind? I understand what you're saying, but having a lot of money sure helps. Nothing wrong with being indifferent to money. All he has to do is make modest coin and save really well... In 30 years (he is only in his 20's) he surely will be able to have a few of those things and still sail right up to you while you are enjoying your Dom. Some of the "poorest" people moneywise I have known have obtained "yachts" and sailed around... Very attainable... Cheaper than a Cig boat that burns all that fuel! Wind is free. And I do understand what you are saying. Kinda like shooting photos. Do you want to shoot off 10 rolls and hope you get a good picture (which you most certainly may)... Or do you want to do it in 10 individual shots that are well calculated. Link to comment Share on other sites More sharing options...
justnzane Posted June 24, 2008 Share Posted June 24, 2008 Oh man, I bet you burn incense, bang a gong and chant too. And on your deathbed you'll have total consciousness goin' for ya....which is nice. I bet you're also the one that says money can't buy you happiness too? Well maybe it can't, but it can buy you a big ole yacht and you can sail riiiiight up next to it. So next time I'm at the Ritz and I order a bottle of very expensive Champagne, should I just tell them to bill it to my state of mind? I understand what you're saying, but having a lot of money sure helps. funny response back, and I agree with the bolded part. Link to comment Share on other sites More sharing options...
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