The GF is a teacher in a private catholic school so she doesn't make all that much, we gross just under $100k/yr. We're both 25 both really enjoy our jobs and just bought a house together. We both have new cars and have no problems (yet...nothing BIG has broken (fingers crossed)) with doing stuff around the house. I think that $100k gross for a DINK in the burbs is easily do-able without living too luxuriously but yet still not stressing over going out and having fun. Throw a kid or two into that equation...and that number might need to go up to keep living like that.
What's a comfortable income?
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Between my wife and I the household income is around 120k with me making double what she does (kind of shitty considering she has a masters degree). Whether we live comfortably or not depends on your perspective. We bought our house a year and a half ago, her car is a 2012 - mine a 2013 and we just got married in October. "Comfortable" would be me having a savings and kicking more into my 401k but as it sits I pay 70-80% of the bills due to my income and I have way too much week left at the end of my paycheck. Granted we have nice things and we're never going to bed hungry but I want more rainy day money in case something goes wrong and some funds for home improvements. Thank God overtime is supposed to open up at work this year, my goal is to at least double my income this year, pay off my bills and have a savings before we have a kid. The problem is with the tax bracket I'm in (was? Not sure how married status will change it?) if I worked under 6 hours of OT I actually got a smaller paycheck than just working 40 hours, now I hopefully will have the chance to work 10 hour days during the week and at least 8's on weekends. We're comfortable in some people's eyes but not in mine. This year is about pure unadulterated greed.
I'm north of the QC and it's the same thing. I have a 60 mile commute for work but it definitely has it's perks.
I grew up in the country outside of Monmouth, IL about 10k people. I now live about 20 minutes away in Galesburg, IL which is about 32k.
Like everyone else, a ton just depends on your situation and where you live. Too many variables. When I first got out of college, I was dating (single) and living alone in Dayton. Making 50K a year I thought I was living very comfortably for sure but then again Dayton is cheap as shit. Could have made less and still been fine.
Fast forward now I'm married, no kids, no mortage, and the wife and I are around 160K combined. I'd say we're just fine and if needed could withstand a couple of months of hard times. I will say we'd be fine with less, but if kids roll into the picture and we become homeowners... EVERYTHING changes.
So it's all situation dependent. Someone that makes 220K a year with 5 kids in and a house in LA may not live as well as someone with no kids, single and 50K in Peoria...just how it works.
Fast forward now I'm married, no kids, no mortage, and the wife and I are around 160K combined. I'd say we're just fine and if needed could withstand a couple of months of hard times. I will say we'd be fine with less, but if kids roll into the picture and we become homeowners... EVERYTHING changes.
So it's all situation dependent. Someone that makes 220K a year with 5 kids in and a house in LA may not live as well as someone with no kids, single and 50K in Peoria...just how it works.
My wife and I pull about $120-$125K gross. Have a nice house, two Jeeps and food on the table. Able to take a vacation a year so we're pretty comfortable.
We also have my sister-in-law living with us. So with me, my wife, my SIL, my kid and another kid on the way, I can't see being comfortable at anything less than $110K.
We also have my sister-in-law living with us. So with me, my wife, my SIL, my kid and another kid on the way, I can't see being comfortable at anything less than $110K.
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