Is six figures that exclusive?

[ponyo]

100k is nothing special anymore. 150k is the new mark to strive for.

Nothing special? I love all these kids who are still in school and think 100k is no big deal. 😀 You can say it's not special once you pass the benchmark. If you work for corporate america, it might take you longer than you think.

 

[JMapleton]

Nothing special? I love all these kids who are still in school and think 100k is no big deal. 😀 You can say it's not special once you past the benchmark. If you work for corporate america, it might take you longer than you think.

If you work for corporate america, you're probably not motivated by money because it's really hard to get rich working for someone else.

 

[CrazyAznDriver]

400k right out of residency? Damn, what did she specialize in?

General surgery, she is doing about 75% trauma and 25% general surgery atm.

 

[PieIsAwesome]

My parents together are in the lower 100s, doesn't seem like a big deal to me.

This is in CA, though.

 

[Engineer]

as of 2007, about 20% of households make over $100K or more.

'households' is not the same as single earners, of course.

Hard to believe that 1 in 5 households make over $100k when 1 out of every 7 (single) people now get food stamps.

 

[TheVrolok]

General surgery, she is doing about 75% trauma and 25% general surgery atm.

In a city, yeah?

 

[Jumpem]

$100k is just getting by if you have a family. You can have a modest house, a single modest new car, and save a little.

 

[Engineer]

$100k is just getting by if you have a family. You can have a modest house, a single modest new car, and save a little.

Depends on area. You can do pretty good on less if you budget it right and don't spend on stupid stuff.

 

[thepd7]

33K/yr and living comfortable in Austin TX? How do you do that? Unless you get subsidized housing/living with a bunch of roomates and don't own a car, or get other allowances, I don't see how that is possible. Do tell because I am planning to move to Austin within a year or so.

With a roommate in a 1000 sq ft 2/2 here's what I paid:

$650 - rent/internet/electric/water
$100 - car insurance
$75 - cell phone
$1000 - entertainment/gas/etc

I probably could have done with less on the entertainment/gas/etc category. Granted I didn't have a car payment but even with $300/month and spending a little less that is $2k/month. $33k is about that I bet.

 

[CrazyAznDriver]

In a city, yeah?

Yeah a fairly large city in the Midwest. That is her base salary, she gets bonuses for various things that can bring it up higher.

 

[TanisHalfElven]

33K/yr and living comfortable in Austin TX? How do you do that? Unless you get subsidized housing/living with a bunch of roomates and don't own a car, or get other allowances, I don't see how that is possible. Do tell because I am planning to move to Austin within a year or so.

actually i meant 1/3rd of 60k. just 20k. I are poor gradstudent, lol.
I don't live super rich, but its not so bad.
I take home about 1400 K a month (plus some that goes into savings)
live in a coop

rent +electric+internet+water+gas 530
Phone (pay my sis and mom's too) 180
food 150
car+ insurance 200
gas +maintainence 100
spending money 200
total 1360

I don't live like a king, but i do live a block from campus in a nice little place with my own bathroom (share a suite of 4 rooms).

 

[bfdd]

i calculate it's about $750,000/year

lol

 

[JS80]

$250k is the new "six figures."

 

[Rage187]

$100,000 plus full bennies, aint wihat it us do be. Decent house, couple of new cars and private school for one child. Burns through it pretty quick. We could probably be decent at $225,000.

But then we would move to a nicer home, better cars and have another kid. It is the game; we spend to our limits and suffer.

 

[meltdown75]

f*ck the corporate world, biyattttchh!

 

[thepd7]

actually i meant 1/3rd of 60k. just 20k. I are poor gradstudent, lol.
I don't live super rich, but its not so bad.
I take home about 1400 K a month (plus some that goes into savings)
live in a coop

rent +electric+internet+water+gas 530
Phone (pay my sis and mom's too) 180
food 150
car+ insurance 200
gas +maintainence 100
spending money 200
total 1360

I don't live like a king, but i do live a block from campus in a nice little place with my own bathroom (share a suite of 4 rooms).

Exactly, Texas is cheap and not everyone needs thousands in electronics.

I mean, <atot response> "you're practically a hobo!!!" </atot response>

 

[Patranus]

Actually more like $82.5K with proper ratios (2.5xincome)

What the hell are you talking about?
Banks lend up to 5x your annual income for housing.

You think someone who makes 100k can only buy a 250k house?

 

[Slew Foot]

250K is pretty middle class in the Bay Area in CA.

 

[joe678]

Nothing special? I love all these kids who are still in school and think 100k is no big deal. 😀 You can say it's not special once you pass the benchmark. If you work for corporate america, it might take you longer than you think.

Again everything is relative, but $100k ain't much if you're living in a place like NYC, its barely passable even for singles when considering cost of living. Hell, even $250k isn't much in this town.

 

[alkemyst]

Exactly, Texas is cheap and not everyone needs thousands in electronics.

I mean, <atot response> "you're practically a hobo!!!" </atot response>

well sharing 4 rooms usually means living with up to and over 8 people around here.

$530 for rent with all utlities is where he is saved. Just my water bill is $140.

 

[alkemyst]

What the hell are you talking about?
Banks lend up to 5x your annual income for housing.

You think someone who makes 100k can only buy a 250k house?

Not really anymore. In the housing 'boom' banks did allow pretty much anything.

The 'classic' ratio is 28% of your gross income should be housing and no more than 36% total debt. Sometimes this is pushed to 29% and 41%. Of course the more you make the less this matters to financial security...rates are still better than 'average' so that 2.5x ones income can be pushed up a little.

I think if you did the math on a regular fixed rate loan with taxes and insurance you would find buying a home at 5x your income would leave nothing for the rest of one's expenses.

 

[Gibson486]

You tell other companies what to do because they don't trust their own staff and pay you 2-3 times what they pay their staff. Because they pay you so much more they value your opinion much more. Even if what you tell them to do is the exact same thing their workers have been screaming about for 1-2 years, just because you, as a consultant say it, makes your word and opinion golden.

It's a wonderful gig.

The best thing is when they decide to hire two consulatnts and they give conflicting data :awe:

 

[Gibson486]

I have a job, have my house and cars paid for and couldn't come close to living off $1,000 per month right now but then again, I have kids going to college soon, lol! 😛

you better hope that your kids are very bright, or very stupid. Anything in betwen means you pay money 😉

 

[ebaycj]

This is exactly what I'm talking about. As a child, I imagined all these issues will go away once you reach the magic six figs. I realized I may have been too ambitious, however, this is still concerning.

How old are you? (When were you a "kid"?)

 

[IndyColtsFan]

You tell other companies what to do because they don't trust their own staff and pay you 2-3 times what they pay their staff. Because they pay you so much more they value your opinion much more. Even if what you tell them to do is the exact same thing their workers have been screaming about for 1-2 years, just because you, as a consultant say it, makes your word and opinion golden.

It's a wonderful gig.

Consulting is where the money is in IT. I've thought about going that route as I could make much more money, but I've got a pretty sweet job right now that has relatively low stress. I'm never going to be a 60-80-100 hours/week worker again. It just isn't that important to me at this stage in my life.