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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by Deedlebug126
With OT DH makes close to $160,000 and we struggle and do without.
are you serious.....we have way under this and I wouldnt say we are struggling just not saving
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Posted 9/28/08 4:22 PM  |
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2girlsforme
LIF Adult
Member since 8/06 3071 total posts
Name:
XXXXXXXXX
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
I think there are so many factors to consider, the main one being do you have kids?? I honestly can say that to be comfortable with kids, two cars, a nice house, vacations and saving for retirement and children's education (something we take very seriously), you need at least 200K a year.
That said everyone's definition is different, and I think to some extent, influenced by your age (I'm 42 and my dh is 47). I feel very lucky to be living comfortably on LI but, I bought my house 11 years ago (its just about paid for but I ay 14K a year in real estate taxes) and have never lived about my means. But, I'll tell you the truth, in this economy everyone is on shaky ground and just because things are good today, doesn't necessarily mean they will be good tomorrow. Personally, we know so many people waiting to be laid off. It's just scary.
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| Posted 9/28/08 5:46 PM |
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lakrav
LIF Infant
Member since 8/07 89 total posts
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
For those of you who make $150K plus and are struggling...
Look at what you are spending on.
Maybe those two $500 lease payments are not necessary...or maybe they are?
Maybe those Coach bags are not necessary...maybe they are.
Maybe go talk to someone who can help you manage finances.
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| Posted 9/28/08 9:10 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
I think it depends on your lifestyle. We make what I consider a decent amount of money. We have a house we bought in 2004. We have two new cars, one of which we just paid off, one of which is only a year old (both Hyundais, because they were afforable and in our budget). We go on vacation several times a year, eat out at least one day a week, and still have savings. We don't have a $1000 worth of lease payments because we don't need $500 a month cars. I don't own any expensive purses because that's not what I want to spend my money on nor do I think it is necessary. It's all about the choices you make.
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| Posted 9/28/08 9:12 PM |
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Deedlebugs
Blessed
Member since 12/05 10281 total posts
Name:
Kiki
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by MamaNDaddyof3
Posted by Deedlebug126
With OT DH makes close to $160,000 and we struggle and do without.
are you serious.....we have way under this and I wouldnt say we are struggling just not saving
would you like to be our financial planner LOL
DH's job just got a new contract that gave us a pretty nice raise and again, this is with OT, which isn't always available. We have a lot of debt from years ago. I have some major medical bills from when I was in my early 20's and didn't have insurance and needed a couple of surgeries. DH also pays child support to his ex-wife for their 2 boys. There are a lot of little things that add up.
Message edited 9/28/2008 11:39:01 PM.
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| Posted 9/28/08 11:04 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
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Gerty ®
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
I think a lot of it has to do with where people spend their money - and I'm not even talking lease payments, etc.
Our mortgage is $2500/month...there are a lot of people on LI who pay more. We opted for a modest home that cost less than most(at the time) in an area with lower tax rates. I think people who are struggling at $150K+ are in homes that cost much more per month and they are generally bigger homes that cost more to heat and cool.
We also try to save in areas that don't affect our lifestyle - we cut our own grass, don't have a cleaning lady, etc.
I think people in a higher income range tend to take a lot of those things for granted and roll them into their regular cost of living.
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| Posted 9/28/08 11:28 PM |
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lakrav
LIF Infant
Member since 8/07 89 total posts
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
I know it is easy to say, but take your takehome and then take 10% of it and shove it into seperate account. Open something on-line that pays between 3-4% and set up auto-transfer. I am not one to budget but we do put away about 15% of takehome every month. This is with a a car loan, a student loan, a sizeable mortgage payment.
It may not be easy but you have to spend on what you need and then go to what you want and can afford.
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| Posted 9/29/08 8:07 AM |
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MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
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Marisa
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by lakrav
For those of you who make $150K plus and are struggling...
Look at what you are spending on.
Maybe those two $500 lease payments are not necessary...or maybe they are?
Maybe those Coach bags are not necessary...maybe they are.
Maybe go talk to someone who can help you manage finances.
This is an obnoxious statement - Everyone's definition of a 'good life' is different - and therefore everyone's definition of 'struggling' is different -
Everyone's Mortgage, bills, interest rate, etc etc etc is different - So while $150k may seem like a small fortune for some, it's not nearly 'enough' for others ........and those 'others' are not 'wrong' or shallow or whatever for wanting/needing more in their lives .........
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| Posted 9/29/08 9:47 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by lakrav
For those of you who make $150K plus and are struggling...
Look at what you are spending on.
Maybe those two $500 lease payments are not necessary...or maybe they are?
Maybe those Coach bags are not necessary...maybe they are.
Maybe go talk to someone who can help you manage finances.
This isn't always the case. You can't know what everyone else's expenses are and you can't judge what might be necessary or not. There are lots of people on these boards that make a decent salary and have huge student loans to payoff, medical bills, child support, care of elderly parents, etc.
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| Posted 9/29/08 10:05 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
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remember, when Gulliver traveled....
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by Deedlebug126
Posted by MamaNDaddyof3
Posted by Deedlebug126
With OT DH makes close to $160,000 and we struggle and do without.
are you serious.....we have way under this and I wouldnt say we are struggling just not saving
would you like to be our financial planner LOL
DH's job just got a new contract that gave us a pretty nice raise and again, this is with OT, which isn't always available. We have a lot of debt from years ago. I have some major medical bills from when I was in my early 20's and didn't have insurance and needed a couple of surgeries. DH also pays child support to his ex-wife for their 2 boys. There are a lot of little things that add up.
these are different and extenuating circumstances...I think most people would find it hard.
some of the comments on here make me laugh, b/c homes are still way more expensive in the city, and many of my friends own property making WAY less than 250k. like someone else said...maybe the definitions of "struggle" have changed (and I am NOT referring to situations like Deddles) but really, come on...this is LONG ISLAND, not Beverly Hills.
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| Posted 9/29/08 10:09 AM |
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cjik
Welcome 2010!
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by Ophelia
Posted by Deedlebug126
Posted by MamaNDaddyof3
Posted by Deedlebug126
With OT DH makes close to $160,000 and we struggle and do without.
are you serious.....we have way under this and I wouldnt say we are struggling just not saving
would you like to be our financial planner LOL
DH's job just got a new contract that gave us a pretty nice raise and again, this is with OT, which isn't always available. We have a lot of debt from years ago. I have some major medical bills from when I was in my early 20's and didn't have insurance and needed a couple of surgeries. DH also pays child support to his ex-wife for their 2 boys. There are a lot of little things that add up.
these are different and extenuating circumstances...I think most people would find it hard.
some of the comments on here make me laugh, b/c homes are still way more expensive in the city, and many of my friends own property making WAY less than 250k. like someone else said...maybe the definitions of "struggle" have changed (and I am NOT referring to situations like Deddles) but really, come on...this is LONG ISLAND, not Beverly Hills.
Agreed, there are circumstances that can really cut into your income. But for most people who don't have unusual health costs, sick family, or lots of children, I would think $150 would be more than enough to live well, yes even on LI. I lived on FAR less than this in NYC, and while I couldn't save as much as I wanted to, I wouldn't say I felt I was struggling. Most of my friends did the same. It might help that my parents, while not poor, were never big spenders and didn't have lots of money. Don't know.
So I think it's all relative.
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| Posted 9/29/08 12:26 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Spinoff to Obama post- What do you think is a "good" combined salary on LI
Posted by cjik
[ I lived on FAR less than this in NYC, and while I couldn't save as much as I wanted to, I wouldn't say I felt I was struggling. Most of my friends did the same. It might help that my parents, while not poor, were never big spenders and didn't have lots of money. Don't know.
So I think it's all relative.
I think this is a good point, in that your concept of "wealth" or "comfort" is not developed in a bubble but rather, shaped by your upbringing and social group. If, growing up, you were used to a certain standard of living that standard becomes the norm for you. Or, if, everyone you know is of a certain profession or of a certain lifestyle, that, again, becomes a normative standard. It is very easy to become insulated in your own "social stratosphere" that things that may be wants to other people are needs to you.
For example, it is "normal" for typical American families to have multiple cars and TVs. Here, that is not considered a luxury per se. In other countries, it would be. So it is all about what you are used to.
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| Posted 9/29/08 1:32 PM |
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