How wealthy or how not-wealthy are you?

[69_500]

Definately depends on your location. Around here $100K a year would make you sitting pretty. However $100K a year where my Aunt and Uncle live, and you'd be scraping by.

[Chris G.]

I guess what I am saying is that although I could afford better or to pay people, something in me just won't let me.   And that is not really a good thing!   But it will let me retire fairly soon and time is what is absolutely the most valuable thing that we all have. Kim

Boy I sure wish I could live like that. Unfortunately I spend my money without thinking first (sometimes). My friend has your exact same outlook. He penny pinches like you wouldn't believe. He's always hunting for a deal, whether it be a garage sale or swap meet. He will always talk a price down. He's constantly thinking about how he can save a buck. We all joke about it with him, but in the end he's the smart one. BTW, he bought a Hemi 'Cuda about 6 years ago for around 30K. To say he won't cash in on that car would be a huge understatement.

[Telvis]

If I didn't have to support my ex wife I would be much better off. 

[greenpigs]

My X should support me

I do ok and have what I want, for some it may not be enough but I'm happy.

[chrisII]

this year i made about 7g more than a year ago. and im about 3 grand deeper in debt! but the debt is all for capitol investments of one type or another,(one being my charger) i could sell several of these investments for much more than i paid, and pay off all of my debt. i am selling a couple things right now and that will put me back to where i was. if i sold the charger in spring i could probly pay off 1/2 of my debt.  but being that ive sworn to die owning that car i kinda doubt it will happen. i have no kids , and i make more myself than alot of married couples i know, so i guess im doing fine.....and this isnt counting the couple hunderd a month i get paid to drink with my friends lol 

[Charger_Fan]

.....and this isnt counting the couple hunderd a month i get paid to drink with my friends lol  

You get PAID to drink with your friends?? That's a job I definitely feel qualified to handle!

[tomonty]

I am a broke as hell college student working part time. I don't save enough money, I go out more than I should, and I am in debt,  but I have the best friends anyone could ever want, 3 Chargers to tinker on and a great supporting family. As long as there is cold beer, good friends, and Mopars, I have everything in the world I could ever want.

Mike

P.S. In some parts of the country making 100k a year might not be much, but I don't know what I would do with 100k. 

[Troy]

I know that in some places (such as parts of California and New York) $400,000 will barely buy you a mobile home or possibly a 1 bedroom house on less then 1/4 acre. Where I live that same amount of money would get a 6,000 sq. ft. house with a barn/massive garage on 5-10 acres. I am positive there are even cheaper places to live than here so that really plays into the whole salary game. I could make a lot more if I moved but if my cost of living goes up a higher amount then it really isn't worth it. It's not how much you make - it's the size of your Charger fund that matters...

Troy

[TruckDriver]

I just figured it out, I am going to be 46 and at my current salary I have projected that in order to be financialy secure I can retire 5 years after I die

I'm going to be 42 this spring, and I will be able to retire about 15 years after I die. So your not alone

I make about $38,000 or so every year. But I live pay check to pay check raising my 2 boys just barely getting by

[twilt]

i have come to the conclusion that it doesnt really matter if i make $45k or 80k a year.   At the end of the year, the checking account still looks about the same and i dont know where the money went.

[2fast4u]

   If I made a $100K a year....I'd own a HEMI car of some sort!   I've nothin' to hide.    I roughly gross $36k a year and scrape by....rob peter and IOU paul sometimes...it really sucks having an Ex-wife who lives really good(who also just bought a brand new car at the dealership I work at) and my 2 boys don't see much of the fruits of my labored money she reaps every month.

    But the oldest just turned 18 and hopefully I can cut it in half as soon as he graduates!!

2fast

[NHCharger]

At the end of the year, the checking account still looks about the same and i dont know where the money went.

You sound like my wife.

My wife thinks I'm a tight-wad. Being a contractor my income varies from year to year so I'm very careful about spending my money.

[skyhawk61]

According to an old saying, "money cannot buy happiness"

This is most certainly true.  Those folks worth $30 million are not any happier than those with only $20 million in their account.

[TK73]

According to an old saying, "money cannot buy happiness"

This is most certainly true.  Those folks worth $30 million are not any happier than those with only $20 million in their account.

I'd rather be rich and miserable than poor and miserable... 

[tomonty]

I'd rather be rich and miserable than poor and miserable...  icon_smile_big

I would have to second that

[TruckDriver]

I'd rather be rich and miserable than poor and miserable...   icon_smile_big

I would have to second that

I would agree with that too

[69charger2002]

yeah agreed on everything said so far. especially about it's not how much you make, it's how you live.. also location is very correct. $100k goes a LONG way down here..welllllll... except i guess trying to buy insurance in new orleans now.          only thing that kills us is tax is 9.5% here. absolutely insane. so i buy most stuff online.. am hoping to have the house paid off at 33.. of course then the wife will want to build one.. ahh well. life is awesome
trav

[Vainglory, Esq.]

Credit and expectations, baby.  Credit and expectations.


Oh, and even though money can't make you happy, I'd rather cry in a Charger than a Yugo.

[kab69440]

Anyone who thinks 100 grand a year is rich is in for a sad lesson when they get there.

I do not want to hear it. Get yourself a single digit hourly wage job and attempt to keep your home from forclosure.  I dare you.

[Chryco Psycho]

anyone who thinks living on 100,000 is not weathy better try living on under 18K like I am 

[73dodge]

I own a Charger under restoration and I am broke

need I say more?

[triple_green]

Interesting thread. I am a financial planner and I measure a persons wealth by assets, not cash flow. Cash flow is a measure of whether you are increasing or eroding your net worth.

Some interesting stories from some past planning jobs:

1) I had a doctor who was making $230K a year in the early 90s and who had almost no net worth. He as leasing two cars for $700 each, leasing a house for $2500/month and ate out a fancy restaurants every night, oh yeah there was the alimony to the two ex-wives...

2) I had a single mom with 4 kids who had an income of $900/month and was saving $200/month (she had some church subsidized housing).

It just goes to show: "It's not how much you make it's how much you keep".

3X

[andy74]

i am having a off year this year,and wil probably end up around 60,000. when i lived in florida that was plenty,but here in upstate new york im just scrapping by,i do have a double wide mobile home,a 03 grand am on lease,and the charger,plus we have plenty of food,the lights are on etc.i save about 300 a month in to a account,and have 6 %of my pay go into a 401k. my wife makes about 5000 a year,works part time,and takes care of the 3 kids the rest of the time.so,it does depend on where your at,and how you spend it. when i was single,and had no kids,i lived in a apartment with 2 buddies,made about 18-20 grand,and had a blast!!!

[RD]

Credit and expectations, baby.   Credit and expectations.


Oh, and even though money can't make you happy, I'd rather cry in a Charger than a Yugo.

how true is that!

[Orange_Crush]

Interesting thread. I am a financial planner and I measure a persons wealth by assets, not cash flow. Cash flow is a measure of whether you are increasing or eroding your net worth.

Some interesting stories from some past planning jobs:

1) I had a doctor who was making $230K a year in the early 90s and who had almost no net worth. He as leasing two cars for $700 each, leasing a house for $2500/month and ate out a fancy restaurants every night, oh yeah there was the alimony to the two ex-wives...

2) I had a single mom with 4 kids who had an income of $900/month and was saving $200/month (she had some church subsidized housing).

It just goes to show: "It's not how much you make it's how much you keep".

3X

This is the point I was trying to make.   

Unless you make bank like Bill Gates, you're gonna hurt if you don't know how to manage it (can anybody say "Hammer?"   I knew you could).

If you are making 100 grand a year and you have two 500 dollar a   month car payments and a 2500 dollar a month mortgage, once you pay insurance, utilites, food, etc...you'll be surprised at the fact that you'll be struggling at the end of the month.

Sure, you're buying nicer things, but you're still overspending.