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Old 03-23-2011, 12:26 PM  
Lonely HUMMER Guy
 
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Originally Posted by BCboy View Post
Yes, it is nuts if you cannot make it on $250,000 /year.
I think a nice income for an averaged sized family of say 3 to 5 people is about $80,000 to $120,000 combined income.
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That almost qualifies for state aid in California!
Funny I was thinking the same thing. It is all relevant to where you live. In the midwest you can live comfortably on 80 - 100 a year. In Cali or New York... ****in forget about it. Especially if you have kids.
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Old 03-23-2011, 12:32 PM  
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Yeah, I guess it does depend where you live big time. Where I am, I couldn't imagine making that much money! I feel I get by just fine on around half that.

I also think it has to do with someones perception. I don't think that "getting by" necessarily means you can afford "extras" such as the newest fancy phone, or satellite TV, a new car payment or even Internet at your house.... I guess those are the types of things I was trying to get a feel for with this topic...
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Old 03-23-2011, 12:40 PM  
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Very Very true!
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Old 03-23-2011, 03:47 PM  
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Originally Posted by havasu View Post
That almost qualifies for state aid in California!
Here its a nice living.
With my being self employed, my yearly net varies a lot.
So its hard to say what I make.
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Old 03-23-2011, 03:51 PM  
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Originally Posted by YelloJeep View Post
Yeah, I guess it does depend where you live big time. Where I am, I couldn't imagine making that much money! I feel I get by just fine on around half that.

I also think it has to do with someones perception. I don't think that "getting by" necessarily means you can afford "extras" such as the newest fancy phone, or satellite TV, a new car payment or even Internet at your house.... I guess those are the types of things I was trying to get a feel for with this topic...
I guess to just survive, rent a place instead of own, have 1 old car, nothing really for holidays, eating out little, etc. then you could survive on about 30K to 35K a year for 4 people.
Comfortable would be about 60K, but a nice lifestyle at 80K or more.
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Old 03-24-2011, 06:15 AM  
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I guess to just survive, rent a place instead of own, have 1 old car, nothing really for holidays, eating out little, etc. then you could survive on about 30K to 35K a year for 4 people.
Comfortable would be about 60K, but a nice lifestyle at 80K or more.
I guess I sort of agree.
We get by. Family of four, mortgage, 10 acres, 3 vehicles (newest is 2004, the rest 15+ yrs old), and yes, eat out very little. Don't spend a whole lot on the holidays (but everyone is happy). Oh, and I do make a little more than the 35k.
I don't think that having a mortgage is much more (if any) more expensive than renting, aside from maybe the down payment.
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Old 03-24-2011, 09:11 AM  
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I don't think that having a mortgage is much more (if any) more expensive than renting, aside from maybe the down payment.
Except for the mandatory home repairs and annual taxes which as a homeowner you will be responsible for.
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Old 03-24-2011, 09:27 AM  
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BINGO! Not to mention all the stuff you have to buy to keep the property maintained. Lawn Mower, Tractor, Leaf blower, Hoses, Sprinklers, Rakes, shovels, Snow blower, saws, etc. etc. (Of course all these items depend on where in the country you live)
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Old 03-24-2011, 09:33 AM  
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BINGO! Not to mention all the stuff you have to buy to keep the property maintained. Lawn Mower, Tractor, Leaf blower, Hoses, Sprinklers, Rakes, shovels, Snow blower, saws, etc. etc. (Of course all these items depend on where in the country you live)
Okay, perhaps. I have never rented a house, only an apartment. I guess I assumed that if you were renting a house, you were likely responsible for the yard. Oh, I have a $40 pushmower. No need for leaf blower. But yes, I will agree that there are more maintenance costs associated with owning a home. Oh, and the taxes yes. Although, taxes are usually part of the escrow (if paying a mortgage) and I consider that part of the payment.
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Old 03-24-2011, 02:09 PM  
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Yes, you can have your taxes deposited into an Impound Account, along with your home owner's insurance and possibly mortgage insurance, but it all adds up!
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