What do you consider a "comfortable" yearly salary?

[mefordis]

I don't do car payments. I buy cars straight up in cash. I don't get the whole car payment thing unless you're doing a lease. But to take a loan to buy a car makes no sense. And of course I'm paying car insurance. My college debts have all been paid, didn't have much to begin with because I paid most of it off very early on in my career. Yes I have kids.

"But still not do what you want when you want." Disagree again. I am doing what I want, when I want. I went to Italy in April, going to Egypt in a few weeks. Bora Bora in April 2016 and I'm thinking Japan late in 2016. I would classify that as doing whatever I want, whenever I want.

Being without debt (which it sounds like you are) frees up a LOT of cash. Also, it's easy to spend a little here and there and have it really add up. Spending on restaurants (due to poor meal planning), too much on groceries (once again due to poor planning - I'm guilty of this) also add up and can take a big chunk of the income.

I guess I'm saying being debt free and not wasting money on the small things allows for more comfortable living on less of a salary. Maybe that is your situation.

 

[porterbl1]

In NE LA, for my working husband with me at home, with 3 kids... I'd say 125.00-150. We are close enough that I feel lucky, but not yet comfortable.

 

[Patch'sD]

Ha, not yet on Cuba. I'm not sure my boss will take any vacation requests lightly. The ones I mentioned no kids but I am planning a week in Southern Cal next summer, kids will be on that one.

Who's watching the kids

 

[nancygirl1]

I live in an area west of Boston where the median house price is between 475,000 & a million+. We cannot afford to own a home in our area and I grew up here. All of the living costs reflect back on housing prices. The property taxes are threw the roof as well as utilities and food. If you can afford to live here then you pay more for everything. We are a family of 5 with 3 that have student loans. We'd be comfortable with around $175,00-200,000 a year. The cost of living around here is insane.

 

[DisneyPrince1982]

Who's watching the kids

Mom, she lives in the suburbs near Chicago and is happy to get them surprisingly

 

[FINFAN]

I don't do car payments. I buy cars straight up in cash. I don't get the whole car payment thing unless you're doing a lease. But to take a loan to buy a car makes no sense. And of course I'm paying car insurance. My college debts have all been paid, didn't have much to begin with because I paid most of it off very early on in my career. Yes I have kids.

"But still not do what you want when you want." Disagree again. I am doing what I want, when I want. I went to Italy in April, going to Egypt in a few weeks. Bora Bora in April 2016 and I'm thinking Japan late in 2016. I would classify that as doing whatever I want, whenever I want.

Happy for you then you are living far better than most. I'm home today getting quotes from roofers. Wish I had 10 grand back from day care and after school care to cover it lol.

 

[Domo]

More than I earn.

 

[mjkacmom]

$175k will not get you this in the NYC suburbs...you'd need something more like $300k+ for that.

Here's a slightly over 4000 sqft house...estimated mortgage is $7k a month.

http://www.trulia.com/property/3208800988-10-Overlook-Park-Montclair-NJ-07043

That's a nice area. Property taxes are probably outrageous ($50,000 a year?). There are no McMansions here, but real mansions. The only new builds are tear-downs, and that's rare.

ETA, the rooms in that house are small, and a little wacky! And notice there are window a/c units. We have them as well, but our house is worth a third of that one. I bet most people would expect at least central air for a million dollar + home.

 

[HeatherC]

OP here. I can totally see how 175k in one area does not go that far. If housing prices are crazy...which they are in places like Boston, Metro New York, DC area, CA, etc it becomes virtually impossible for people to even buy a home when you make less than $100k.

Unfortunately, those same areas also tend to have extremely high property taxes, high electric rates, high grocery rates, etc.. It is a filter down effect so that $175k does not go as far as one might expect.

I am originally from northern NJ and still have family living there. (I have been in MA for the past 30 years). I cannot wrap my mind around the fact that some of them are paying property taxes almost to the tune of $20,000 a year! And that is for houses that are not McMansions by any stretch of the imagination. That is almost $1700 EACH MONTH for property taxes alone...never mind income taxes, state taxes, sales tax, food, electricity, child care, etc.. that is more than the average mortgage payment for most people. So..yeah...175k may sound like a lot, but depending on where you live it really isn't if you want to live "comfortably".

 

[MomofKatie]

OP here. I can totally see how 175k in one area does not go that far. If housing prices are crazy...which they are in places like Boston, Metro New York, DC area, CA, etc it becomes virtually impossible for people to even buy a home when you make less than $100k.

Unfortunately, those same areas also tend to have extremely high property taxes, high electric rates, high grocery rates, etc.. It is a filter down effect so that $175k does not go as far as one might expect.

I am originally from northern NJ and still have family living there. (I have been in MA for the past 30 years). I cannot wrap my mind around the fact that some of them are paying property taxes almost to the tune of $20,000 a year! And that is for houses that are not McMansions by any stretch of the imagination. That is almost $1700 EACH MONTH for property taxes alone...never mind income taxes, state taxes, sales tax, food, electricity, child care, etc.. that is more than the average mortgage payment for most people. So..yeah...175k may sound like a lot, but depending on where you live it really isn't if you want to live "comfortably".

Oof! We don't pay $1700 a YEAR for our property taxes. That's crazy!

 

[RedAngie]

I suppose I could live quite comfortably on $80,000 per year. As long as I don't have to actually, you know, do my job.

 

[eliza61]

But, but....you don't understand. Many people NEED to live in a 4000 sq.ft McMansion, have a top-of-the-line kitchen where only the microwave is ever used, have two $500 per month car payments, stop at Starbucks every morning, shop exclusively at Whole Foods, enroll their kids in every expensive activity, etc. etc. etc. Anything less just won't do.

And what's wrong with that?? why must everyone drive 10 year old cars ( which seems to be the Dis mantra)?? yes, I have no problem admitting that I have standards. I don't ask anyone to subside my life style. this is the only place where it seems people try to "out poor" each other. I work 50 miles each way from my home. so yes for me, I prefer not to do it in a crapmobile.

remember, the op said " comfortable" Yes, if the proverbial crap hit the fan, I can go into survivor mode like anyone else but since I work ridiculously hard, I an not ashamed to say, Yes I NEED my bimonthly mani-pedi. they bring me joy, and isn't that the purpose of money???

And no way is 175k going to get you anywhere near 4000 square feet in philly

This house is for sale 2 blocks from me. pretty typical and the schools suck so most people have the added expense of private school tuition
http://www.zillow.com/homes/for_sal...5.1607,39.959713,-75.183231_rect/15_zm/0_mmm/

 

[DisneyPrince1982]

this is the only place where it seems people try to "out poor" each other.

Lol

 

[justgrace]

You know how depressing this thread is for a college student? Almost everyone is saying "You would need to make more than $175,000 a year to live comfortably - not rich - but comfortably..."

All my hopes and dreams of raising a family, having a moderate house with a little land, and taking yearly Disney vacations by being a doctor are now crushed... I hope you all are happy!

 

[FINFAN]

And what's wrong with that?? why must everyone drive 10 year old cars ( which seems to be the Dis mantra)?? yes, I have no problem admitting that I have standards. I don't ask anyone to subside my life style. this is the only place where it seems people try to "out poor" each other. I work 50 miles each way from my home. so yes for me, I prefer not to do it in a crapmobile.

remember, the op said " comfortable" Yes, if the proverbial crap hit the fan, I can go into survivor mode like anyone else but since I work ridiculously hard, I an not ashamed to say, Yes I NEED my bimonthly mani-pedi. they bring me joy, and isn't that the purpose of money???

And no way is 175k going to get you anywhere near 4000 square feet in philly

lol...I prefer not to do it in a crap mobile either, that line cracked me up

 

[eliza61]

You know how depressing this thread is for a college student? Almost everyone is saying "You would need to make more than $175,000 a year to live comfortably - not rich - but comfortably..."

All my hopes and dreams of raising a family, having a moderate house with a little land, and taking yearly Disney vacations by being a doctor are now crushed... I hope you all are happy!

Lol, naw. What we are saying is there are trade offs. I love living in the city but with that comes an understanding that things are higher. when my kids where little we couldn't do that so we moved.

I work an hour from my house, the drive is brutal so I spend a lot of time in traffic, there are days I get home evil as the devil, but the trade off is a better salary than I could get closer to home. Yes, I have a nice car but I also have a nice car note. for me that's an acceptable situation but I don't have 1 Apple product.

I have had years where the a/c broke, every major appliance had to be replaced and the dog needed surgery. Guess who got a seasonal p/t job at Macys to pay for Christmas??? Lol

 

[PAcpl]

I think the size of your family factors into the question just as much if not more than the area you live in. A single person making a six figure salary is going to live a lot more comfortably than a person raising a family of 4 on the same salary.

 

[RedAngie]

And no way is 175k going to get you anywhere near 4000 square feet in philly

This house is for sale 2 blocks from me. pretty typical and the schools suck so most people have the added expense of private school tuition
http://www.zillow.com/homes/for_sal...5.1607,39.959713,-75.183231_rect/15_zm/0_mmm/

No, the 175k wasn't for the price of a house, it was for a "comfortable" household income.

I like how that listing really stretches the boundary of the "Art Museum Area."

Looks like some of the run-of-the-mill rowhouses in my old Philly neighborhood, Port Richmond, are going for 200k+. I think my parents sold it for less than 20K in 1973.

 

[FINFAN]

You know how depressing this thread is for a college student? Almost everyone is saying "You would need to make more than $175,000 a year to live comfortably - not rich - but comfortably..."

All my hopes and dreams of raising a family, having a moderate house with a little land, and taking yearly Disney vacations by being a doctor are now crushed... I hope you all are happy!

on the up side you know what to charge for your services as a doctor lol

 

[Divslp]

In my county, comfortable would be around 150-200k per year. This county is known for its excellent schools. Housing costs are a little high (though much better than my home city NY), and taxes are moderately high but nothing like NJ or Westchester/Long island taxes. We are in a suburb in Maryland.