My family makes $100k plus a year, its not enough!!

[IndyColtsFan]

Measuring income is kind of pointless anyway since one of the biggest drivers of wealth inequality lately is ownership of stocks and such.

Nobody who is making 10mil typically makes it as a salary but usually in the form of stock options or whatever.

Of course, but we're not talking about wealth, we're talking about income in this thread.

 

[z1ggy]

OP, If you can't move somewhere cheaper or suddenly make more money, looks like you'll just need to sack the fuq up and deal with it.

 

[DrPizza]

Good on you for saving for retirement, we aren't really doing that yet a little 402k (Teacher version), but other than that nothing.

Uhh, I think you mean 403b?

 

[DrPizza]

Well pinning your retirement hopes on the appreciation of your home is a stupid strategy. The buy a home and get rich scheme was one bubble that really screwed a lot of Americans.

And, when you retire, you have to live somewhere. If your house has quadrupled in value, wonderful. But so has everyone else's.

 

[vi edit]

And, when you retire, you have to live somewhere. If your house has quadrupled in value, wonderful. But so has everyone else's.

Reverse mortgage.

 

[Vdubchaos]

It doesn't matter what you make, it's what you spend.

Most Americans waste their money on complete BS. Going out to eat....malls....stores.....look around, there is a GOOD reason you have all of these stores/restaurants.

 

[Scarpozzi]

Reverse mortgage.

Might as well do that or sell your home and downsize. Chances are if you don't die outright, you're going to be going through your savings at a faster rate than you can handle and eventually assisted living will obtain your house to cover your costs.

I'm hoping to save millions by retirement so I can leave a bunch to my kids and give them a leg up without sacrificing my retirement fun.... If it all goes well, I'll die before getting wrangled into one of those places.

 

[JM Aggie08]

Move to Texas - the land of milk and honey.

 

[rpanic]

OP I’m in the same boat except I bought house at bottom of market, live near you, about same income, it’s hard when you have kids to get by here. All of my kids are almost in school; I worked nights to avoid child care. Wife and I were born and raised in LA area and are looking to move out of state. It’s not worth it here if you have kids. Your kids will be better off, if it sucks this much here now just imagine how it will be by the time your kids are adults, it will be to expensive for them. The middle class is leaving or dying off here.

 

[Rage187]

OP I’m in the same boat except I bought house at bottom of market, live near you, about same income, it’s hard when you have kids to get by here. All of my kids are almost in school; I worked nights to avoid child care. Wife and I were born and raised in LA area and are looking to move out of state. It’s not worth it here if you have kids. Your kids will be better off, if it sucks this much here now just imagine how it will be by the time your kids are adults, it will be to expensive for them. The middle class is leaving or dying off here.

Come to Silicon Harbor, aka Charleston SC. Still comparably cheap in the suburbs, 200k for a new home, $115 sqft in nice neighborhoods.

 

[PricklyPete]

I can highly recommend the Denver/Boulder area, lower cost of living, good wages, and decent people. Plus still a lot of interest in maintaining a healthy lifestyle.

No...it is terrible here. Don't come.

 

[PricklyPete]

I'd rather live in a low COL area and commute to a job in a high COL area. Win win.

You would change your mind if you had a family at home that you want to spend time with (or other outside of work interests). I try to limit my commute as much as possible.

 

[Corporate Thug]

I'd rather live in a low COL area and commute to a job in a high COL area. Win win.

Very few low COL areas in So Cal. And if you find one, the amount of time you spend in traffic will bring you to tears.

 

[Nebor]

Very few low COL areas in So Cal. And if you find one, the amount of time you spend in traffic will bring you to tears.

The time that people spend commuting from Orange County (which still has a high COL) to Los Angeles blows my mind. They spend as much time in traffic as they do at work.

 

[alkemyst]

The time that people spend commuting from Orange County (which still has a high COL) to Los Angeles blows my mind. They spend as much time in traffic as they do at work.

We have people doing this in S. Florida, 100-200 miles each way so they can work in the HCOL area (Miami / Orlando) and live in the cheap seats (Port Saint Lucie/Ft. Pierce/Palm City).

The commute from north to south is decent the first 40 miles and then it quickly turns into 20-30mph at best for the last 60+ then the reverse (the first 60+ is terrible, like 2-3 hours easy during rush hour and then you still have another 1-2 hours to go or more).

I have to work in Miami esp. at the Port of Miami a lot. Leaving at 5pm doesn't pay off, I just sit and have a drink/eat until about 7pm and I make it home at the same time had I left at 5pm.

I am only about 45-60 miles away though. As a consulting engineer my work takes me around a 200 mile radius at times usually within 30 miles of where I live though. My latest jobs have been 10-20mins in rush hour taking it casually.

 

[Corporate Thug]

The time that people spend commuting from Orange County (which still has a high COL) to Los Angeles blows my mind. They spend as much time in traffic as they do at work.

I know a few people who do this. Crazy.

 

[NutBucket]

Very few low COL areas in So Cal. And if you find one, the amount of time you spend in traffic will bring you to tears.

And you'll be surrounded by an endless supply of meth

 

[Hugo Drax]

The problem is Americans always have to be fronting, they have to build that big totem pole. Cause you gotta make people think your some high roller and impress those "Friends"

Most likely this is what the typical American will do who earns 100K

#1 Permalease a 500-800 a month BMW/MB etc.. forever (not just one but two or more ie his/hers and the kids), and don't forget the cost of insurance.
#2 Buy a huge zero lot McMansion box house
#3 Everyone has a 100 a month phone plan, (his/her/kids) 300-400 a month or more, annual upgrades of those iphones as well.
#4 Super cable package and super internet package (300 or more a month)
#5 if they have a small child, send them to l33t kindergarden for 20-40K a a year
#6 Murican wife usually does not cook, so spend tons of money a month on frozen food
#7 Murican wife cant cook but they buy the 2000 dollar l33t cookware to hang over the big kitchen, over the fancy unused Wolf or Garland stove/oven.

#8 if they have kids, they gotta wear those 90 dollar made in china name brand outfits.
#9 Weekend outings every weekend to entertain "Friends"
#10 yearly tv upgrades, hey that new 4K TV is out, lets get rid of that crappy 1080P. now I can show my friends our new badass 4K tv.
#12 if they have kids send them to all kinds of programs but the l33t versions, ie soccer,karate,piano,ballet,etc.. but 5-6 programs at the same time.

#13 etc.. usually the end result is spending more than what comes in, typically 40-100K credit card debts or more.

 

[Blanky]

I haven't read much of this thread, but I am only going to take one guess. Am I right that:

It consists mainly of people indirectly (or directly) bragging about how much money they have and also at the same time giving financial pointers on how to live like a boss? And some will be saying they only make <placeholder for crap income> but still live like a boss because of how awesome they are at spending it wisely (i.e. not enslaved to keeping up with the Joneses)?

 

[PricklyPete]

I haven't read much of this thread, but I am only going to take one guess. Am I right that:

It consists mainly of people indirectly (or directly) bragging about how much money they have and also at the same time giving financial pointers on how to live like a boss? And some will be saying they only make <placeholder for crap income> but still live like a boss because of how awesome they are at spending it wisely (i.e. not enslaved to keeping up with the Joneses)?

Pretty much true except you forgot the part where Alke tries to make the thread about him and starts blogging random information that nobody asked for.

 

[purbeast0]

The problem is Americans always have to be fronting, they have to build that big totem pole. Cause you gotta make people think your some high roller and impress those "Friends"

Most likely this is what the typical American will do who earns 100K

#1 Permalease a 500-800 a month BMW/MB etc.. forever (not just one but two or more ie his/hers and the kids), and don't forget the cost of insurance.
#2 Buy a huge zero lot McMansion box house
#3 Everyone has a 100 a month phone plan, (his/her/kids) 300-400 a month or more, annual upgrades of those iphones as well.
#4 Super cable package and super internet package (300 or more a month)
#5 if they have a small child, send them to l33t kindergarden for 20-40K a a year
#6 Murican wife usually does not cook, so spend tons of money a month on frozen food
#7 Murican wife cant cook but they buy the 2000 dollar l33t cookware to hang over the big kitchen, over the fancy unused Wolf or Garland stove/oven.

#8 if they have kids, they gotta wear those 90 dollar made in china name brand outfits.
#9 Weekend outings every weekend to entertain "Friends"
#10 yearly tv upgrades, hey that new 4K TV is out, lets get rid of that crappy 1080P. now I can show my friends our new badass 4K tv.
#12 if they have kids send them to all kinds of programs but the l33t versions, ie soccer,karate,piano,ballet,etc.. but 5-6 programs at the same time.

#13 etc.. usually the end result is spending more than what comes in, typically 40-100K credit card debts or more.

you clearly don't even make close to $100k/yr if you think you can do all of that on a salary of $100k/yr.

 

[thestrangebrew1]

Move to the central valley. We got no water, but housing is cheap!!

 

[alkemyst]

The problem is Americans always have to be fronting, they have to build that big totem pole. Cause you gotta make people think your some high roller and impress those "Friends"

Most likely this is what the typical American will do who earns 100K

#1 Permalease a 500-800 a month BMW/MB etc.. forever (not just one but two or more ie his/hers and the kids), and don't forget the cost of insurance.
#2 Buy a huge zero lot McMansion box house
#3 Everyone has a 100 a month phone plan, (his/her/kids) 300-400 a month or more, annual upgrades of those iphones as well.
#4 Super cable package and super internet package (300 or more a month)
#5 if they have a small child, send them to l33t kindergarden for 20-40K a a year
#6 Murican wife usually does not cook, so spend tons of money a month on frozen food
#7 Murican wife cant cook but they buy the 2000 dollar l33t cookware to hang over the big kitchen, over the fancy unused Wolf or Garland stove/oven.

#8 if they have kids, they gotta wear those 90 dollar made in china name brand outfits.
#9 Weekend outings every weekend to entertain "Friends"
#10 yearly tv upgrades, hey that new 4K TV is out, lets get rid of that crappy 1080P. now I can show my friends our new badass 4K tv.
#12 if they have kids send them to all kinds of programs but the l33t versions, ie soccer,karate,piano,ballet,etc.. but 5-6 programs at the same time.

#13 etc.. usually the end result is spending more than what comes in, typically 40-100K credit card debts or more.

You seem very angry.

 

[s0me0nesmind1]

Oh man OP, that gun to your head forcing you to stay in the shithole known as LA must be hard on your life and overall well-being, right?


amirite?



I mean, it's rough for me.... what... paying $600/mo. mortgage for a 3 bedroom 2.5 bathroom... just barely scraping by myself.

 

[ultimatebob]

So after that catchy headline got some of you in, I wanted to open up a discussion about this.

I live in the Los Angeles area and between us we do make over $100k and it barely feels like we scrap by each month.

Which is frankly ludicrous I know.

If we live in Florida we'd own a home and be living the high life, but SOCAL just seems to suck you dry for everything. Anyone else live here or in expensive parts of the country and experience this bizarre situation and what did you do about it if anything?

Connecticut is basically the same way. You need to make around 150K a year to afford a decent house in a good neighborhood around here.