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11
Onvacation
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2023 Apr 7, 10:39am
Onvacation
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2023 Apr 7, 10:39am
GreaterNYCDude says
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield
It matters more how you spend your money than how much you make. For the San Francisco Bay Area a good household income would be $150K. You probably wouldn't be buying a house at that salary but you could live a comfortable enjoyable life.
Our household makes around $180K and, in my opinion, we live very well.
What is a "good" salary these days?
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield
It matters more how you spend your money than how much you make. For the San Francisco Bay Area a good household income would be $150K. You probably wouldn't be buying a house at that salary but you could live a comfortable enjoyable life.
Our household makes around $180K and, in my opinion, we live very well.
12
RWSGFY
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2023 Apr 7, 10:54am
RWSGFY
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2023 Apr 7, 10:54am
komputodo says
I think the definition of financial independence is universal: ability to maintain a desired lifestyle w/o need to work.
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
I think the definition of financial independence is universal: ability to maintain a desired lifestyle w/o need to work.
13
Patrick
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2023 Apr 7, 11:04am
Patrick
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2023 Apr 7, 11:04am
clambo says
Yes, but they also export work. So American workers are screwed two ways.
Wages can't go up much because the slave masters import workers to keep them down.
Yes, but they also export work. So American workers are screwed two ways.
14
komputodo
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2023 Apr 7, 11:47am
komputodo
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2023 Apr 7, 11:47am
RWSGFY says
So a person doesn't need a set amount of money to be financially independent. Some may need 5 mil and others only need 50k. The ones that need 5 mil though are the ones that spend most of their lives busting their asses trying to get there.
komputodo says
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
I think the definition of financial independence is universal: ability to maintain a desired lifestyle w/o need to work.
So a person doesn't need a set amount of money to be financially independent. Some may need 5 mil and others only need 50k. The ones that need 5 mil though are the ones that spend most of their lives busting their asses trying to get there.
15
zzyzzx
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2023 Apr 7, 11:50am
zzyzzx
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2023 Apr 7, 11:50am
komputodo says
Living in Caligulan splendor without having to work (meaning having enough investment income).
what does "being financially independent" mean to you?
Living in Caligulan splendor without having to work (meaning having enough investment income).
16
RWSGFY
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2023 Apr 7, 12:08pm
RWSGFY
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2023 Apr 7, 12:08pm
komputodo says
Pretty much.
RWSGFY says
komputodo says
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
I think the definition of financial independence is universal: ability to maintain a desired lifestyle w/o need to work.
So a person doesn't need a set amount of money to be financially independent. Some may need 5 mil and others only need 50k. The ones that need 5 mil though are the ones that spend most of their lives busting their asses trying to get there.
Pretty much.
17
mell
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2023 Apr 7, 1:05pm
komputodo says
Having enough money for the entire family while not depending on a full time job.
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
Having enough money for the entire family while not depending on a full time job.
18
komputodo
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2023 Apr 8, 9:13am
komputodo
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2023 Apr 8, 9:13am
mell says
What does fully retire mean to you? Does it mean to not "work" anymore? What is "work" to you? If you enjoy being a chef or an artist or repairing electronic devices and get paid to do it, is that considered work? That you need to stop doing what you enjoy doing to call yourself retired? Or does working mean doing something that you don't enjoy but do it just for the money?
I'll never fully retire cause I like what I do, but set a hard stop at early semi retirement. Leaving CA will likely be a part of it ;)
What does fully retire mean to you? Does it mean to not "work" anymore? What is "work" to you? If you enjoy being a chef or an artist or repairing electronic devices and get paid to do it, is that considered work? That you need to stop doing what you enjoy doing to call yourself retired? Or does working mean doing something that you don't enjoy but do it just for the money?
19
B.A.C.A.H.
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2023 Apr 8, 3:01pm
B.A.C.A.H.
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2023 Apr 8, 3:01pm
Onvacation says
One of the challenges I have with these concepts is using the fiat USD to assess situations.
It matters more how you spend your money than how much you make. For the San Francisco Bay Area a good household income would be $150K. You probably wouldn't be buying a house at that salary but you could live a comfortable enjoyable life.
Our household makes around $180K and, in my opinion, we live very well.
One of the challenges I have with these concepts is using the fiat USD to assess situations.
« First « Previous Comments 11 - 19 of 19 Search these comments
Raises several questions.
1) What is a "good" salary these days?
2) What, if anything, should be done about the increasing wealth gap?
3) Given the rising cost of living, do you expect wages to finally start rising for thoes who remained employed during this mast recent economic downturn?