Is six figures that exclusive?

[rudeguy]

Hey... If I can make over 100K in a year by doing IT consulting, almost anyone can.

I still don't understand exactly what a consultant does.

Care to give me a penny tour?

 

[SZLiao214]

If you are single making 6 figures early on must be fantastic. You wouldn't have to whore yourself out to buy 2 new video cards

 

[JMapleton]

That. I'd even venture to say, that if you have a family, then "barely making 6 figures" is still not comfortable. You probably need around $200k for that.

Only if you're materialistic. You confuse "comfortable" with the suburban dream of 50 inch televisions and Dyson vacuums throughout the house, brand new furniture every 5 years.

If you're wise with money you can raise a family easily on under $100k and not even have any need and still be a nice neighborhood.

I'm just as materialistic as the next guy, and I know most people in this thread are, thinking things are what makes you happy, but if your focus is on your family, you do not need 6 figures to be happy.

Not granted, I'm not that guy, who is that family focused, but I respect those who are. Who teach their kids happiness is not about things, but just safety and security.

 

[spidey07]

I still don't understand exactly what a consultant does.

Care to give me a penny tour?

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.

 

[Svnla]

Step back another ten years and the calculation changes quite a bit:

What cost $100000 in 1970 would cost $546391.77 in 2009.

Also, if you were to buy exactly the same products in 2009 and 1970,
they would cost you $100000 and $17213.11 respectively.

Depends GREATLY on what items we are talking about.

Cheaper stuffs compare to 10-15 years ago = electronics (TV, computer), clothes, shoes, air fares, toys, fruits and veggetables, investment cost.

More expensive stuffs = healthcare (insurance and care cost), college education, cars, gasoline (remember $1 or so per gallon?).

 

[HeXen]

if i had 6 figures a year, i'd be typing this on an Alienware/Falcon NW or something and not this built myself wannabe box.

 

[OILFIELDTRASH]

About 6% of Americans make 100k+ but 80% of ATOT makes 100k+.

 

[spidey07]

About 6% of Americans make 100k+ but 80% of ATOT makes 100k+.

It's a whole lot higher than that. Any decent sized city a high percentage of white collar professionals make more than that. After taxes and other payroll deductions it's less than 5K a month take home. Doesn't go very far after bills/savings. Also consider a nurse and a teacher or two factory workers will easily surpass 100k for the household. It's just not a lot of money anymore.

 

[OILFIELDTRASH]

I guess I'm living in poverty. I don't make 200k. My income alone doesnt sniff 100k.

 

[ultimatebob]

I still don't understand exactly what a consultant does.

Care to give me a penny tour?

It varies on the job, but at this particular place I babysat a server room and fixed hardware and operating system problems as they popped up. It paid $55 a hour, and the job required a LOT of overtime. After working 60+ hours a week for a few months straight, I got fed up and got a salaried position that paid less.

 

[JMapleton]

if i had 6 figures a year, i'd be typing this on an Alienware/Falcon NW or something and not this built myself wannabe box.

Alienware/Falcon NW are wanna be boxes. That's 2004 stuff.

Especially Alienware.

 

[ultimatebob]

Alienware/Falcon NW are wanna be boxes. That's 2004 stuff.

Especially Alienware.

Alienware isn't much more than the Dell XPS line in a fancy case now. Falcon Northwest makes some pretty custom built systems if you have the money and don't feel like building it yourself, though.

 

[JMapleton]

Alienware isn't much more than the Dell XPS line in a fancy case now. Falcon Northwest makes some pretty custom built systems if you have the money and don't feel like building it yourself, though.

I don't know, I'm just in the thought that if you care about performance, you have to built it yourself. It's part of the culture.

 

[Engineer]

It's a whole lot higher than that. Any decent sized city a high percentage of white collar professionals make more than that. After taxes and other payroll deductions it's less than 5K a month take home. Doesn't go very far after bills/savings. Also consider a nurse and a teacher or two factory workers will easily surpass 100k for the household. It's just not a lot of money anymore.

The % quoted was for singles. It is above that for households at almost 16%.

Interesting that there are now 3X+ as many people on food stamps as make over $100k (single, not households) (17+% vs nearly 6%). Better make it while you can as the foundation is slowly eroding.

 

[Fingolfin269]

I don't know, I'm just in the thought that if you care about performance, you have to built it yourself. It's part of the culture.

Kinda like if you make over $100k/yr you need a sweet car and a big house. Just part of the Jones' culture.

 

[TheVrolok]

My wife just finished her residency and is making around 400k now from about 50k before. Now its time to pay off the debt that accumulated in the last 5 years in residency. I don't see us living too differently at the moment. We bought a nice sized house and a new car, a toyota for her.

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

 

[TanisHalfElven]

I lived in Austin making $60k, $100k is a ridiculous amount. You can get an oustanding house for $250k in the nice areas still within city limits.

Agreed.
I live in austin right now as a grad student making 1/3 of that, and i live pretty comfortably

 

[Suspicious-Teach8788]

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

 

[zinfamous]

As a kid, I imagined what it would be like making six figures a year. Private jets, hypercars, mansion... I always imagined it would be the life of easy come, easy go.

Nowadays, I realize that six figures is not a big deal. I know doctors, lawyers, and IB who are making six figs straight from school. Not just intro six figs, but well into six figs. They don't have the lifestyle as I imagined. Most of them live as normal people. Almost all rent a modest apartment, and drive Japanese ecoboxes. They may vacation in other countries, but they travel in discount economy and stay in cheap hotels and hostels.

So it seems to me that it is no longer that big of deal to be making six figs. Or maybe it never was. I know that their life must be better than the average Joe making the median salary of 50k. It just don't seem that much better. Or even special.

If six figures is no longer something to aspire to, then what is? Seven? Eight?

earning six figures doesn't mean you have to spend like a trailor-dwelling lotto winner. also, cost of living is a huge part of your equation.

 

[Sumguy]

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

Money printing machine operator, apparently.

and lol at ATOT

100k isn't rich, but it sure is comfortable. Pretty sure its more than enough if you aren't a complete dipshit with money.

 

[Svnla]

Agreed.
I live in austin right now as a grad student making 1/3 of that, and i live pretty comfortably

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.

 

[postmortemIA]

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 other allowances, I don't see how is that possible. Do tell because I am planning to move to Austin within a year or so.

33k/yr gets you 100k mortgage, which is probably decent condo in Tx. With that, you won't be paying much in taxes. People manage.

 

[Imdmn04]

Everything is relative, if all of your friends are engineers making 100k at 29 yr old and you are making 50k, u "feel" poor even though you are pretty well off compared to the company's front desk secretary, who is pretty well off compared to a walmart greeter, who is pretty well off compared to the bum on the street.

 

[ElFenix]

About 6% of Americans make 100k+ but 80% of ATOT makes 100k+.

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

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

 

[alkemyst]

33k/yr gets you 100k mortgage, which is probably decent condo in Tx. With that, you won't be paying much in taxes. People manage.

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