What do you consider a "comfortable" yearly salary?

[IndyRnRfan]

Where I live in Indiana 100K combined will allow you 3br/2ba 1400-1600 sq.ft home, two-three cars, hundred dollars/week groceries, Disney vacation every year, and normal expenses per month(eating out, going to movies 4-5 times a month) Married with one child and student loans.

 

[FINFAN]

You guys tossing around $175,000 for a comfortable salary? I mean c'mon folks. That's way more than comfortable. If you're burning through $175,000 and still can't do whatever you want, whenever you want, something is very wrong.

in todays business section of the Trib "Chicago rated as the 7th most costly city" ranking of world's cities lol....are you making 174,900 ? JK, the article points out aside from living costs, the cost of CLOTHING is what jets Chicago up there in costs. Not a particularly useful or practical ranking, but thought it funny to pop up with this thread going on.
http://www.chicagotribune.com/business/ct-chicago-expensive-city-0918-biz-20150917-story.html

 

[Hrhpd]

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.

Sounds like the definition of comfortable to me.

 

[Art 1]

I would say around $250,000 if raising children.

 

[FINFAN]

I would say around $250,000 if raising children.

I could be preeeeeeettttttyyyyy comfy on that. It would afford the biggest luxury of all, peace of mind for old age.

 

[DisneyPrince1982]

in todays business section of the Trib "Chicago rated as the 7th most costly city" ranking of world's cities lol....are you making 174,900 ? JK, the article points out aside from living costs, the cost of CLOTHING is what jets Chicago up there in costs. Not a particularly useful or practical ranking, but thought it funny to pop up with this thread going on.
http://www.chicagotribune.com/business/ct-chicago-expensive-city-0918-biz-20150917-story.html

Ha, no I'm not making $174,900. I'm making $174,999, just kidding.

I hardly spend a dime on clothing. I have a casual dress code for work (T-shirt, shorts, flip flops currently). So I definitely save money there. If I was making $175k, my God, I'd be living like a true king. I am probably somewhat lackluster with my retirement savings but since I'm a full-time trader, I'm able to manage my savings and produce some pretty good gains (compound return should be my friend).

 

[FINFAN]

Ha, no I'm not making $174,900. I'm making $174,999, just kidding.

I hardly spend a dime on clothing. I have a casual dress code for work (T-shirt, shorts, flip flops currently). So I definitely save money there. If I was making $175k, my God, I'd be living like a true king. I am probably somewhat lackluster with my retirement savings but since I'm a full-time trader, I'm able to manage my savings and produce some pretty good gains (compound return should be my friend).

Ahhh, gotcha... Board of Trade? Yeah, takes discipline for that savings. If on the floor you do have that throat lozenge fund to think about lol

 

[Lisaloo]

Charlotte, NC suburb. Our comfortable number is $250k, but that includes a lot of extras. The luxuries are what we consider comforts, so that isn't our survival number by quite a bit. DH is a business owner so some years his profits are way more than the comfortable number and some years it is less, depending on where we are in his business cycle. Fortunately after 20 years we have a pretty accurate idea of what to expect.

 

[soccerdad72]

DW and I make about $600k a year and we're comfortable, so I'll go with that number.

 

[DisneyPrince1982]

Ahhh, gotcha... Board of Trade? Yeah, takes discipline for that savings. If on the floor you do have that throat lozenge fund to think about lol

Haha I did CBOT in the past but working all electronically now. I have one of those massive computer monitor set-ups So throat lozenge fund isn't a worry but perhaps an eyesight fund will be necessary

 

[DisneyPrince1982]

DW and I make about $600k a year and we're comfortable, so I'll go with that number.

600,000 a year? Really? Just curious what you do.

 

[soccerdad72]

600,000 a year? Really? Just curious what you do.

It's more my wife than me - she's a partner in a Big 4 accounting firm. I'm in higher ed.

 

[DisneyPrince1982]

It's more my wife than me - she's a partner in a Big 4 accounting firm. I'm in higher ed.

Wow that's incredible. Congrats on yours and her's success.

 

[FINFAN]

Haha I did CBOT in the past but working all electronically now. I have one of those massive computer monitor set-ups So throat lozenge fund isn't a worry but perhaps an eyesight fund will be necessary

and no more spit flying lol

 

[Minnesota!]

I would say $120-$130K is comfortable in the Twin Cities suburbs for a family of 4. Decent house, tuition for private school if needed, car(s), enough to take on some debt if need be (home equity loans, student loans, etc.), vacation, and save for retirement.

We used to live on $55K a year. It was TIGHT but we knew where to and how to scale back to make it...not comfy, but not horrid, either.

 

[tvguy]

I am watching a couple look at homes in Fort Worth, Texas.
$270,000 for a 3,800 square foot house that is 3 years old!

They settled for the 2,000 square foot house that was listed at $150,000.

Then I think about the 1300 foot houses on Love it or List it that are selling for $1,000,000 in Montreal.

I would be rich in Fort Worth, and priced out out the market in the latter city.

 

[DawnM]

Hard to say. Salary isn't the entire picture. Benefits are another huge part of the equation. When I stopped working, I was making $8-10K less than my husband was at the time, but my benefits were so much better than his that I technically "made more" when you calculated in health benefits, insurance, and retirement compensations.

I realize $10K is peanuts in what we are discussing, but some jobs include a car, travel, food, etc....and it can make a difference.

I think around $200K is comfortable if other benefits weren't included and needed to be paid out of pocket. This is in the Charlotte area.

 

[tvguy]

Hard to say. Salary isn't the entire picture. Benefits are another huge part of the equation. When I stopped working, I was making $8-10K less than my husband was at the time, but my benefits were so much better than his that I technically "made more" when you calculated in health benefits, insurance, and retirement compensations.

I realize $10K is peanuts in what we are discussing, but some jobs include a car, travel, food, etc....and it can make a difference.

I think around $200K where we are would be great if other benefits weren't included and needed to be paid out of pocket.

My company took away all take home cars when the economy tanked in 2008. The folks impacted figure that was a benefit worth $8,000 to $10,000 a year just for the car and gas. They also lost a ton of overtime because they took their camera gear home, and lost overtime not getting called on breaking stores.
Plus, some of them didn't own their own cars, so had to rush out and buy a car. One guy took 2 months to find the perfect $10,000 used car, and ended up renting a car for the entire two months. His wife was going crazy, told him to just buy a clunker while he shopped for his dream car and get rid of the clunker when he bought the car he wanted.

 

[Skippy918]

$250k. Enough to save for kids college, retirement, go on a decent vacation or 2 and buy some new gadgets.

 

[Disneylover99]

$200 000 would be comfortable for my family of four in the Toronto area. Many detached homes in decent areas are pushing a million dollars these days. The crazy part is, that seems normal to me.