What is "good" money.

[vicki_c]

The average income for a family in my area is 65k. Which to me - would be "great" money. "Good" money would be anything over 50k (for a couple). And anything over 75k would be "phenomenal"... Hubs and I only made 40k last year. So I guess we're "poor". But we own a home, have very little debt, and manage to take a week long vacation every year to Disney...

Wow - and here I thought everyone in Jupiter was a millionaire! Guess not!

 

[w0rM]

This thread makes me feel poor.

 

[wvjules]

This thread makes me feel poor.

Says the person that has "Trip #19 coming soon" in their signature.

 

[PatriciaH]

$139k for a couple in NYC is peanuts. a 2 bedroom closet in NYC is going to run you about $3000 a month. you have to pay federal, state AND city income tax. groceries are a fortune and your kitchen is barely big enough to cook in. you don't need a car, but a monthly metro card is going to run you what a small car payment would. most of the early career kids i work with make about $45k a year, live with 4 people and are broke.

I live within commuting distance of NYC and $139K is below average where I live. My property taxes alone are low 5 figures. And you can't really buy a decent house for anywhere under $400,000. It really is all relative.

karenos

See that's the problem with buying a home in NYC/Boston/CA today. My father never made $139K and my mother was a stay at home mom. We lived in a nice house in Forrest Hills, Queens in NYC (very nice wealthy area) and I went to private school in Manhattan. We did not vacation growing up (WDW once, Saint Martin once and Ireland once) but we took dance lessons, piano and were very happy. Now you could not dream of buying a decent home for $48k (what my parents bought their home for in 1974 or so. It was a lot at the time but they sold it for around $700k a few years ago and retired to FL. Who even wants a house now at those prices. You never really own it with the crazy property tax now!

 

[CdnCarrie]

She doesn't tell you what city they live in but her show is from Canada.

I would agree that $139K for a couple is good money. She said you each make good money so that would mean that she thinks of $52K as good money for a single person.

It's taped in Toronto. I didn't even know you could view that show in the U.S.

 

[punkin]

Since it's Toronto, I'm not sure you can even compare it as even to American dollars. I know that usually the Canadian dollar is less than the American dollar.

 

[CdnCarrie]

Since it's Toronto, I'm not sure you can even compare it as even to American dollars. I know that usually the Canadian dollar is less than the American dollar.

Actually it's about par right now. And Toronto is much more expensive to live in than other Canadian cities.

 

[punkin]

Actually it's about par right now. And Toronto is much more expensive to live in than other Canadian cities.

That's funny. When we went to Canada a few years ago, it was one of the few times I remember when the Canadian dollar was actually worth more than American.

 

[CdnCarrie]

That's funny. When we went to Canada a few years ago, it was one of the few times I remember when the Canadian dollar was actually worth more than American.

In 2002 I was in WDW and it cost $320 Canadian to get $200 USA.

It fluctuates daily.

 

[bdcp]

We live in a low cost area, I just googled the median income and it's 36,000 dollars for families. We make a lot more than that and live great here. However, we might be transferring to the D.C. Area in the summer and our dual incomes won't go that far there. We are in the low six figs and we are stressing about nice affordable areas to live with great schools. Were looking at Burke Va and the houses there are quite expensive. Like someone said, there are many factors to determine "good money".

Actually, my DS (27) lives in Burke in a 30 year old townhouse that's in good shape. He bought it almost 2 years ago. He makes under 70K but he is just supporting himself-single. What you can't expect is to buy brand new and you may have to rent for a while.

Everything is relative. Our COL is 135.6.

 

[bdcp]

You must live near me. That is the average in my county as well. And we live in the more expensive end of the county so it's even less than average if you make below $100k. So here, I would say good money is $150k and above.

But I also agree that good money depends a lot on where you live. If your bills are paid on time, you've paid yourself (savings account), paid college funds and retirement funds and you have some left over each month.

We're in Loudoun County (eastern) and we've been here for 15 years so no surprises. DH and I are at our peak earning potential (early 50's) and we'll probably stay here for another 10-15 years and then look to downsize our home so we can retire. Our county has been the wealthiest county in the nation for a couple of years but it's also one of the most expensive to live in. Our real estate taxes are $8,100/year.

 

[snowywhite89]

It's taped in Toronto. I didn't even know you could view that show in the U.S.

I love the show. It seems like many of the people live more in the country. She only visits them once a week.

I searched for the Princess show but we don't get it.

 

[hopemax]

My definitions, income bracket for your area.

Average: 40-60%
Good: 60-80%
Great: 80-95%
Rich: 95-100%

However, I think we do a really good job of convincing ourselves that our wants are needs. We're all trying to live like we're making "great" or "rich" money. Because we can't, we say we're average, when in fact we're actually "good."

For example, IMO having a standard cable package is something I would equate with an average income, digital cable package - good, premium channels - great, everything - rich. Same for phones. Land line, maybe basic cell - average, multiple phones per family with texting - good, data plan - great, you run out and get the new model and have everything - rich.

Our houses are bigger, our closets are stuffed, we take more vacations, but because we're living paycheck to paycheck we're not making good money.

 

[bbangel]

I love the show. It seems like many of the people live more in the country. She only visits them once a week.

I searched for the Princess show but we don't get it.

The rules for the show were that you had to live within a certain distance of her residence. She only visits once a week because she is busy.

Check out her website: http://www.gailvazoxlade.com/

I think good money is anything that is above the average of the country you live in.

 

[snowywhite89]

The rules for the show were that you had to live within a certain distance of her residence. She only visits once a week because she is busy.

Check out her website: http://www.gailvazoxlade.com/

I think good money is anything that is above the average of the country you live in.

I have visited her site. I try to see the updates and they never play for me.

 

[CdnCarrie]

I have visited her site. I try to see the updates and they never play for me.

I've heard that they are only viewable in Canada.

 

[honeydiane1953]

My daughter makes 38 dollars an hr. Don't know how much my SIL makes. That is good money to me.

 

[RangerPooh]

As a teacher, making "good money" is when DH and I can combine our incomes to live comfortably. This means the bills are paid, we can buy the things we need, and can save for things that we want. I have never expected to make more than $40k in any of the professions that I have considered, so to make anything over that would make me happy.

As a former Californian, I would say that anything over $125k would be good money. For rural WA, anything over $70k. When we lived outside of DC, anything over $125k.

Sadly I understand the Virgina comments made earlier about needing ~$200k to be considered as making "good money". When we lived in MD, DH commuted to DC for work and the majority of his co-workers lived in VA, and in nicer communities to boot. In fact, many couldn't comprehend that I was a teacher making the salary I did, or the fact that we didn't have a nanny to raise our children.

 

[enchantingodin]

Wow - and here I thought everyone in Jupiter was a millionaire! Guess not!

Why would you think that?

 

[vicki_c]

Why would you think that?

Oh the whole Bert Reynolds / mansions / celebrity thing - I just thought it was a really exclusive area.