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avamamma
My Girl
Member since 7/06 3395 total posts
Name:
Tara
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What family income would you consider "well off" for Long Island?
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Posted 11/29/10 10:42 PM  |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
250K+
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| Posted 11/29/10 10:43 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19454 total posts
Name:
L
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Re: What family income would you consider "well off" for Long Island?
It depends upon the size of the family, but for a family of 4, 250+ I would say is well off.
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| Posted 11/29/10 10:51 PM |
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fight the future
Master of my domain.
Member since 3/10 2067 total posts
Name:
Rebecca
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Re: What family income would you consider "well off" for Long Island?
Posted by KittyGags
250K+
We're so poor 
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| Posted 11/29/10 10:51 PM |
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Dani77
It's FUN to be ONE
Member since 7/09 4363 total posts
Name:
Danicia
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Re: What family income would you consider "well off" for Long Island?
Posted by Motown Throwdown
Posted by KittyGags
250K+
We're so poor
HA! I was just thinking the same thing!
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| Posted 11/29/10 10:51 PM |
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Re: What family income would you consider "well off" for Long Island?
you can be making 100k in my book and be well-off, as long as you have no debt.
you can make 250k a year and have tons in debt, and then you wouldn't be well-off, KWIM?
to me, well-off = little to no debt, living comfy, money saved up for retirement.
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| Posted 11/29/10 10:53 PM |
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jasmine
little boy blue <3
Member since 10/10 1475 total posts
Name:
x
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Re: What family income would you consider "well off" for Long Island?
Posted by speakthetruth
you can be making 100k in my book and be well-off, as long as you have no debt.
you can make 250k a year and have tons in debt, and then you wouldn't be well-off, KWIM?
to me, well-off = little to no debt, living comfy, money saved up for retirement.
I agree!
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| Posted 11/29/10 10:54 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
I don't think of well off as family income. I think you could make $150K & be well off if you invest wisely & have very little debt, while some people I know making $250+ aren't well off because they spend what they have.
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| Posted 11/29/10 10:56 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: What family income would you consider "well off" for Long Island?
Posted by speakthetruth
you can be making 100k in my book and be well-off, as long as you have no debt.
you can make 250k a year and have tons in debt, and then you wouldn't be well-off, KWIM?
to me, well-off = little to no debt, living comfy, money saved up for retirement.
This.
Perhaps you make 100k but have no student loans, inherited a home and have no mortage etc.
There are so many factors to consider.
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| Posted 11/29/10 10:57 PM |
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jasmine
little boy blue <3
Member since 10/10 1475 total posts
Name:
x
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Re: What family income would you consider "well off" for Long Island?
Posted by nrthshgrl
I think you could make $150K & be well off if you invest wisely & have very little debt, while some people I know making $250+ aren't well off because they spend what they have.
I have definitely seen this to be true
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| Posted 11/29/10 11:00 PM |
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MrsA1012
love my little girl !
Member since 9/10 5777 total posts
Name:
Me
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Re: What family income would you consider "well off" for Long Island?
Posted by speakthetruth
you can be making 100k in my book and be well-off, as long as you have no debt.
you can make 250k a year and have tons in debt, and then you wouldn't be well-off, KWIM?
to me, well-off = little to no debt, living comfy, money saved up for retirement.
Absolutely! It totally depends on your debt, number of kids if any, family help ( ie with a home downpayment), investments etc etc. There is no magic number.
Message edited 11/29/2010 11:02:20 PM.
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| Posted 11/29/10 11:02 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What family income would you consider "well off" for Long Island?
Posted by KittyGags
250K+
no way...a lot depends on when and how much people paid for their house, how much loan debt they have , daycare expenses for kids, car payments and a number of other factors . In this day and age on long island this is still middle class in my opinion....granted you are by no means struggling, but no way well off with a mortgage payment in the few thousands per month and multiple thousands in other expenses per month.
Message edited 11/30/2010 9:02:54 AM.
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| Posted 11/30/10 8:59 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: What family income would you consider "well off" for Long Island?
sorry if you are making $150K plus you are well off
(edited) so i wasn't insensitive to everyone.
IF we ever break 100K i can only imagine how much we could afford to do or even save monthly IF we don't spend it. That is like OMG money.
Message edited 11/30/2010 12:21:28 PM.
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| Posted 11/30/10 9:16 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What family income would you consider "well off" for Long Island?
Posted by Nifheim
sorry if you are making $150K plus you are well off just didn't buy wisely (expensive car payments, expensive house, excessive cc debt) the only debt i won't say is excessive is student loans.
This is rather presumptuos and rude don't you think? You have no idea what other expenses people have i.e helping out family members who are sick or on disability. Circumstances are different for everyone. Let's not fool ourselves. The cost of living on Long Island is very expensive, daycare costs more than a mortage payment for some, taxes are through the roof, and commuting costs are several hundred a month for many commuting to work everyday. Maybe for some 150,000 would be well off...but not to my family.
And to assume that we are not "spending wisely" because our family could not live on 150,000 is just
Message edited 11/30/2010 9:40:32 AM.
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| Posted 11/30/10 9:22 AM |
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brownie
Baby #1 is here!
Member since 11/08 13903 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
To answer the question: 500k+
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| Posted 11/30/10 9:23 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: What family income would you consider "well off" for Long Island?
150k+
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| Posted 11/30/10 9:24 AM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
Posted by neener1211
150k+
I agree.
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| Posted 11/30/10 9:27 AM |
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hanna7636
LIF Adult
Member since 8/06 921 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
My husband and I make a good income but with daycare and local (school) taxes $1300 a month (not mortgage pmt-taxes ) we are broke every month (we make over $150 before taxes). Our car pmts together are $325 a month for 2 cars. I have not bought new clothes for over a year. I have $2000 b/t the both of us in CC debt and my mortgage pmt is $1400 a month. My husband and I both work overtime to pay for babysitters so we can make a little extra money for home improvements that need to be done.
Also, b/t the both of us we put away 20% of our income in savings and pension and I put extra money in pension fund for myself.
Message edited 11/30/2010 9:36:41 AM.
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| Posted 11/30/10 9:30 AM |
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Faithx2
All good things in 2016!!
Member since 8/05 20181 total posts
Name:
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Re: What family income would you consider "well off" for Long Island?
Posted by nrthshgrl
I don't think of well off as family income. I think you could make $150K & be well off if you invest wisely & have very little debt, while some people I know making $250+ aren't well off because they spend what they have.
Agreed
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| Posted 11/30/10 9:33 AM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: What family income would you consider "well off" for Long Island?
$250K-$300K
The fact that someone made "poor" choices in the fact that they are up their eyeballs in debts has nothing to do with the income they make.
Sure $250K on LI is not what $250K is in the middle of AK but it's still $250K. WELL ABOVE the average income.
Michael Jackson was in debts and he generated MILLIONS in revenue.
Now when we mean "well off", I personally think it's lots of money in the bank, not a care in the World to have to buy a new washer or a car tomorrow if one breaks the next day. Shopping at expensive store like money is no object and the CC balance is paid in full every month. Vacations planned for the year and again, like buying a bagel at the local store. That's well off! Regardless of the income.
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| Posted 11/30/10 9:38 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What family income would you consider "well off" for Long Island?
Posted by smdl
Now when we mean "well off", I personally think it's lots of money in the bank, not a care in the World to have to buy a new washer or a car tomorrow if one breaks the next day. Shopping at expensive store like money is no object and the CC balance is paid in full every month. Vacations planned for the year and again, like buying a bagel at the local store. That's well off! Regardless of the income.
and what she said....
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| Posted 11/30/10 9:40 AM |
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Re: What family income would you consider "well off" for Long Island?
Posted by DiamondGirl
Posted by speakthetruth
you can be making 100k in my book and be well-off, as long as you have no debt.
you can make 250k a year and have tons in debt, and then you wouldn't be well-off, KWIM?
to me, well-off = little to no debt, living comfy, money saved up for retirement.
This.
Perhaps you make 100k but have no student loans, inherited a home and have no mortage etc.
There are so many factors to consider.
I also agree with this. It depends on a bunch of things. The size of the family, how much debt you're in, and how you invest your money all play a role. I would say anything around 150k or over is well off given that you have little debt, have money saved for retirement, etc, and are living pretty comfortably.
Message edited 11/30/2010 4:21:16 PM.
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| Posted 11/30/10 9:45 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What family income would you consider "well off" for Long Island?
Well off...
2 years of savings, retirement well on the way to being completely funded, minimal debt and being able to buy luxury items without having to consult a budget.
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| Posted 11/30/10 9:48 AM |
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AngnShaun
Sisters
Member since 1/10 21015 total posts
Name:
Ang
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Re: What family income would you consider "well off" for Long Island?
Posted by brownie
To answer the question: 500k+
I would consider that VERY well off
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| Posted 11/30/10 9:52 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What family income would you consider "well off" for Long Island?
Posted by Blu-ize
Well off...
2 years of savings, retirement well on the way to being completely funded, minimal debt and being able to buy luxury items without having to consult a budget.
i would add...money banked for college for kids...
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| Posted 11/30/10 9:53 AM |
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