Asshat wormie
2023 Asshat Award Winner
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How much income is enough?
- Thread starter Swagdaddy
- Start date
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Jysin
Ahn'Qiraj Raider
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ZyyzYzzy
RIP USA
- 25,295
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Exactly. How dare you judge him without knowing what his neighbor has and howuch 1 upping is needed
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Noodleface
A Mod Real Quick
- 38,319
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He's one of those guys with funny money
Also all his money is in a savings account (90k)
He's financially stable but financially stupid
Also all his money is in a savings account (90k)
He's financially stable but financially stupid
ZyyzYzzy
RIP USA
- 25,295
- 48,789
In like 100000 years at the 0.1% interest of his savings account he'll be a millionaire
Noodleface
A Mod Real Quick
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I know you joke but for a 30 year old dude he's probably miles above his peers
Unfortunately he's retarded and won't invest it or max his retirement or anything
Instead he buys a WRX
To drive to Boston
In 1mph traffic
I wouldn't want to have a million any sooner because tanoomba may take it from me
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90k at 30 is def solid, if he gets 8% he has 3 doubles easy, 720k.
I wouldn't say wrx is crazy, it's still a Subaru and good for winter.
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Noodleface
A Mod Real Quick
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Thats why I bought my WRX. After comping out other brands once you upgrade the model to AWD Subaru isn't really that much more expensive.
Vinen
God is dead
- 2,791
- 497
Love my WRX. Seriously been the best car I've owned.
Cheap, Performant and has all the amenities that I wanted.
Your brother is still an idiot. 2 cars in 2 years? That's pissing money away faster than you can on a gacha game.
Income & expenses:
Household income is approx USD 220k per year, not including bonuses, stock options or ancillary benefits (which can be material). My family of four lives in one of the most expensive cities in the world (Hong Kong). With two kids, private school, and a live-in helper it takes USD 12k/month to run the family. The rest goes to taxes, savings, and discretionary income (in that order). I do not consider myself wealthy.
How much I need:
Once school bills and mortgage payments subside, my wife and I (currently age 35) could comfortably live on USD 100k per year to support our hobbies, some of which are relatively expensive. At a 5% draw down this would require savings of USD 2 million today, or an inflation adjusted USD 5 million by the time we retire in 30 years. Those figures protect the principal ad infinitum, but if i did not plan to leave money to the kids I could budget it to last until age 115 and retire with considerably less in savings. Although Hong Kong recently introduced a mandatory retirement scheme, it is relatively tiny and cannot be relied on like social security like the U.S. Therefore, all retirement support must come from personal savings.
Household income is approx USD 220k per year, not including bonuses, stock options or ancillary benefits (which can be material). My family of four lives in one of the most expensive cities in the world (Hong Kong). With two kids, private school, and a live-in helper it takes USD 12k/month to run the family. The rest goes to taxes, savings, and discretionary income (in that order). I do not consider myself wealthy.
How much I need:
Once school bills and mortgage payments subside, my wife and I (currently age 35) could comfortably live on USD 100k per year to support our hobbies, some of which are relatively expensive. At a 5% draw down this would require savings of USD 2 million today, or an inflation adjusted USD 5 million by the time we retire in 30 years. Those figures protect the principal ad infinitum, but if i did not plan to leave money to the kids I could budget it to last until age 115 and retire with considerably less in savings. Although Hong Kong recently introduced a mandatory retirement scheme, it is relatively tiny and cannot be relied on like social security like the U.S. Therefore, all retirement support must come from personal savings.
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Bumping a kind of old thread.
I think the sweet spot is about 4x the median income where you are. That may be extreme, but there is something really satisfying about saving 2/3rds of your income each month.
Retirement? Fuck retirement. I'm going to work on cutting edge technology (the correct ones - not bullshit like MongoDB, node, and docker) until my brain no longer functions.
I think the sweet spot is about 4x the median income where you are. That may be extreme, but there is something really satisfying about saving 2/3rds of your income each month.
Retirement? Fuck retirement. I'm going to work on cutting edge technology (the correct ones - not bullshit like MongoDB, node, and docker) until my brain no longer functions.
ToeMissile
Pronouns: zie/zhem/zer
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I have total compensation of around 125k in the bay area as a single guy. I can't complain but I'm sure as hell no baller. If I made another 50k I'd be happ(ier.)
My base pay will be about 125 in a couple of years. At some point I may be able to move up to a position that gives me up to 10 percent bonus also. So I'll peak at about 150k total eventually.
The good thing is I can take this job anywhere in our range if the position in the right regional office comes up, but honestly I don't know if I'll stay in California. I feel like I'm living like a college student in my 30s renting an apartment. Not really what I dream of. I can't possibly afford a house here.
A guy friend of mine who has multiple streams of income and came from a wealthy family says "the more money you make, the more money you spend." I find that to be the case. I blow too much money on food and dating.
My base pay will be about 125 in a couple of years. At some point I may be able to move up to a position that gives me up to 10 percent bonus also. So I'll peak at about 150k total eventually.
The good thing is I can take this job anywhere in our range if the position in the right regional office comes up, but honestly I don't know if I'll stay in California. I feel like I'm living like a college student in my 30s renting an apartment. Not really what I dream of. I can't possibly afford a house here.
A guy friend of mine who has multiple streams of income and came from a wealthy family says "the more money you make, the more money you spend." I find that to be the case. I blow too much money on food and dating.
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Xarpolis
Life's a Dream
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You only spend more because it's easier to justify. If you made $40,000 a year and that 100% went into your bills and stuff, you would look at any extra purchase as putting you in debt. But realistically, you make $125k a year. You make enough to cover your rent and utilities. So you have enough extra to do some things you enjoy. In this case, going out to eat. If you were struggling, you wouldn't go out. Then you would save money.
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