Living off 100k reddit. Give me $100k a year and I will live like a king off of it.

Living off 100k reddit We are thinking about having 1 kid, but I'm not sure if it's financially possible in this state on one income. I also factor in a buffer for the months i don't make 10%. After taxes and presumed deductions (e. As a new EMt it will be a struggle but depending on your pay scale you can live comfortably. Depends on where you live too. I wanted to get an MBA in the US. But while your living with your parents this is the best time to make as much money as you can to prepare for the rest of your life. That’s dumb. This is your one-stop-shop for discussions, news, 100k account @ 10% risk exposure per trade --> ~2% return/trade Might not be enough to live off of but would provide a nice side-income by most standards and if reinvested would eventually grow the account to where iOP could fully live off of it. HELOC with not much available. 100k is okay in Sunnyvale, but be warned, you will likely need a roommate and might not be able to live super close to your office. The math on PSLF gets more complicated if you get married, but that's the gist. High salaries are quite frequently correlated with high cost of living. ASAP. Would you want to work any of these jobs? Maybe you already do? Get the Reddit app Scan this QR code to download the app now. If you are in your 30s making 100k that is considered good :). Here are perspectives from eight people around the country I live in a moderate-high COL city. - Wake up a hero - Brush your teeth a hero - Eat Sorry wrong speech. Pay off that credit card debt first. My advice is paying off the student loans with the HIGHEST interest rate first. Its probably good to get into a routine. Warren Buffett gets something like 2M per year just off of his Coke stake dividends, for example. living off the rental money. So you would need both parents working full time to have a similar lifestyle. Welcome to /r/orangecounty, the Reddit community for all things related to Orange County, California. You can enjoy life have fun and really get ahead of finances and investments. /r/StudentLoans: Reddit's hub for advice, articles, and general discussion about getting and repaying student loans. Portfolio is fairly diversified although overweight with utilities. My rent in a new building with elevator is 1500rmb per month, or 18,000rmb per year. You wouldnt be living an extravagent lifestyle but you wouldnt be too worried about money. If you were making 100k in 1996 you were thought to be making "good" money. A household income of $100k would get completely drained with a 2br apartment, car, and kids. Not everyone is willing to move to those locations, especially if they are already living in higher cost of living areas. There are many British expats in Brisbane, they're might even be a reddit or FB thread. Basically what the title says; is it possible for a family to live off of $100K in NJ? I have lived in NJ all of my life. Most can survive off 40k-60k but there is big difference in quality of life. Basically they can't afford to buy a home where they'd prefer to. We always get answers of people trying to live off of 350K, 400K, etc with a claim that they can make 3-4%/month off their savings. If I were making a living off it I wouldn't be online bragging about it. My goal is to retire at MRA. That's good to hear coming off 2 best years to make up for this one. They like to flaunt and show others how they live in luxury though my salary is more than theirs combined. I ended up living in a house with two other women before I left Colorado for good because I couldn’t afford a 1b / 1ba on my own. In Ontario 100k doesn't get you as far as it use to anymore. My total student loan debt is $170,000 (undergrad + mba). com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, Overall, you can definitely live off of options trading but if you need 15k a month to support yourself, keep a more reliable source of income until you hit at least 1M and I'd recommend hedging by investing in another asset class before you quit your job. So doing the math, I would need a minimum of 20k account. Uber eats delivery was super easy and kinda fun. My base pay my I’ve never made anywhere near enough to live off, but I have made some nice money doing music and sound design for podcasts. Yes, two incomes will be easier when you are paying rent/ mortgage later. International student here. S. It all depends on your strategy in my opinion. People in leadership positions for the most part have nearly half the cost of living as people underneath them and have no relation to the plight that affects young people right now. If you live at home and have a job you should be able to pay off 100k in like 2 years. Please share. Having 100k saved is a great accomplishment and don't let people belittle that. Was living off 60k and nearly no benefits last year for 4 months. Hell they’ll do okay living in a HCOL area if their setup is like this. If you want 240V around the house, run the standard household appliances, have regular showers and flush like normal in a house suited for a small family. Note that smartassest doesn't always calculate NY State taxes correctly due to not taking recapture/incremental benefit into account. If 100000 Americans moved to albania tomorrow and spent like they do in the States, prices would get unmanageably high for the locals who are getting Many libraries across the country are laying people off because their budgets are getting cut. 105k tuition second year 110k tuition 3rd year 115k tuition fourth year First year, loans of 7%, that 100k will be 128k by grad. I don't make a trade under $10k, and often my positions are $25-40k. Pay is catching up on the lower end, and 60K is like middle management sous chef pay, or lube tech, or maybe assistant The median household income in the USA is about $59k. trades, and professionals all making $100k + would be a Get the Reddit app Scan this QR code to download the app now. If I find something cheaper, I have the choice to pay more than 20% down or more cash to do other things. It’s easier to live off 35k with paid off housing, auto and aca subsidized insurance than living off 100k with a mortgage, car loan and regular high deductible employer provided health insurance . Living off 100k pre-tax? Living Hey guys, I just got an offer for 100k in downtown LA. Why just VOO? Basically living off interest just requires that wherever you tuck your money spits out interest >= your annual cost of living. You can make a living in any area of life when you start taking the time to learn and find professionals (mentors) to help you to save the time of searching for information on your own. If you don't mind living outside of town, 100k would do just fine. That’s pretty absurd. Not bragging, but just feels good to hit this savings milestone while trying to not feel None of them are “easy” based on my understanding. The remaining 20k goes to paying off my credit cards and auto loan. You'll make more money in a city than you will in most small towns, but the cost of living may also eat up that extra income, and the competition for jobs is *much* higher in a city than in a small town (unless you're in suburbs so close to a city that they may as well be a city). My current rent after 4 years of living here is now $2080. I compare that against my cost of living. Im considering the idea of moving, and was just wondering what local people consider a decent salary to live off for a young person. In 8 years, I was making 400k a year. Due to splitting costs with my uncle, i only had to pay property tax and gas bill in addition to my food/car etc. It took me 10 yrs to get my disability approval. We’re able to afford pretty much anything (within reason) that we want (but we’re very frugal and live well below our I see this so often how people complain how it's impossible to make ends meet on $100k ect but I'm over here making half the yearly income and On Reddit, the forum HENRY, standing for ‘High Earner, Not Rich Yet’, is a go-to for those seeking financial advice, inspiration, and goal-setting tips. Good luck. If you can get to the point that you’re living off $150-200 a day, then maybe. Location, schools, home size, commute, etc. I live fairly frugal, but still buy healthy food, spend money on my hobbies, and travel once a year. A place to get personal things off your chest. There are a lot of scandals in the boot camp industry. My recommendation would be to network your face off when on a union set. 64K last year. So the rental income is tax free. Tl;dr above $107,650 you don't just pay based on the tax rate tables (like smartasset calculates), but pay With say 180 take home house hold income you can pay off 100k of debt in a year quite easily. You can but it's a grind. Or check it out in the app stores I am hoping to live 100% off my dividends in the next 2 years but also need to ensure there is growth so the income matches inflation. i cannot wrap my brain around the tone deafness and lack of self awareness required I had a discussion with a friend last night about incomes and spending. It’s really just “learn how be competent at something that some random schmuck If you're good and consistently busy you can make between 80k-100k realistically working 40-45 hours a week. That's "staycation," eating out once a week, no starbucks every morning, modest home and mortgage. you're looking at around 100K NZD for 10kW solar, 20kWh batteries, a 5kW inverter, a backup genny, a few large water tanks, a water pump/filtration system and an I know. Then you have the second paycheck for that month to save/play money. Unwritten rule is to be able to pay your bills with 1 paycheck per month. Basically broke even but wasn’t cooking for myself and went out almost every night. Log In / Sign Up; Advertise on Reddit; Shop Collectible Avatars; Get the Reddit app Scan this QR code to download the app now. The minimum cost to have a reliable car is about $5000 per year (and can be much higher if you want something nicer, have high insurance costs, have to pay for financing) and that's before you start driving it and pay for all of the per mile things which Many guys at my department married nurses or medical professionals that bring in two to three times their salaries and that works for them. I really feel for people renting. I find value bets and win in the long run. I am house hunting and have been for some time but just got serious the last 6 months, and I can tell you some neighborhood prices have increased 100k for the same type of house from last summer. that I will not pay federal taxes since we fall below the $80K capital gains tax ($100K - married exemption) theres a fuck ton of poverty in the city especially right now. We have 3 kids and a house we love. This allows communities like child free and to flourish, because by and large people with children are spending their time raising children, not on Reddit. could bump that up. Question - Spain taxes retirement living off of $100K dividends Cost of Living I understand that if I stay in the U. I live just outside of Vancouver BC, one of the more expensive places in Canada. When you place a trade, map I completely think agressively investing in TSP is unnecesary as a lifer. If you’re going to travel don’t even consider less than 2500 a week take home, there’s a reason the place needs a traveler so use it to your advantage. Or check it out in the app stores &nbsp; in 2022. THEN you have to factor in living expenses. Or check it out in the app stores &nbsp; i got in as rates were going up and then got laid off. Should be fine with close to 100k if living I hit $200,000 Jan 2014 so the next $100k only took three years. I took a 6-month's off, from burnout and worked on building my house. We will have the remaining $70k paid off by July. Assuming we have a horrible or flat year in 2023 I should still generate $100k in dividends. I (and I think many people here) would like to make a living off stocks. Damn I don’t say this often and us veterans don’t throw the hero word around lightly but to me, you are a hero what you did was 100% selfless you served your country during war time in the military not sure what branch, but that doesn’t So if you let's say have 1mil dividend portfolio with 5% dividend ($50,000 per year) you'll just need to cut down expenses to be below $50k. Enrolled at Emory University’s 2 year MBA program. Once I got my back pay, I had to pay back the people that helped me keep my house for my kids to graduate hs and the credit cards I had been living off with no income. obscene costs of living and low wages is truly keeping everyone in poverty, it sucks. I play at Bet365 and Pinnacle. , however. Helping you become consumer debt free. I paid off 100k in 18 months doing so. you find interesting or would like to join and ask questions, grab them snacks, and Where is a HUGE question. I’ve seen starting salaries for RDs in the low 100s in higher cost of living locations for positions in medical device sales or specialty formula sales. It's the lowest amount of monthly income I'm looking Realize this and try not to go nuts with the spending just because you can. You would be barely getting by and any expense like kids braces might have to be declined. Nice one bedroom appt $1700/mo + unlimited cell plan $50/mo + internet $60/mo + utilities $150/mo + car payment $300/mo + insurance $250/mo = $2500 - $2600/mo. $5000 is 30,000 rmb. Related Reddit Ask Online community Social media Mobile app Meta/Reddit Website What I do is I look to get 2 to 3% a week and aim for 10% a month. Agreed, anything above $40,000 I would consider well off in the area. It all depends on what standard of living you're looking for. Seminole county is definitely livable for 100k, has parts with good schools, nice neighborhoods, and annual passes and stuff are doable if you don't have a bunch of debt. Both can be true IMO. people losing homes. I made over $100k and still took a few years. with a 100k portfolio you can live off selling options Welcome to FXGears. The goats have also cleared over an acre this year, which I have not priced out yet. health Redditors who earn about $100k or more a year share what they do for a living and there is a variety of professions to choose from. Less of a budget for going out etc. Another 2 years and the barn will pay itself off via the goats. Could also live alone in a nicer place but have limited disposable money. Have a house and a car paid off etc. That threshold is really probably where you no longer worry about whether or not you’ll have any trouble paying to live - beyond that, everything is just a luxury. 100K if you are 30s, single, and don’t mind having a roommate. 10K followers in 4 months. are all variables to be considered as well. That means I was living on about $15,000 this year. First thing is first. Remember that if the properties are 75% leveraged, your $4800 income per year per home is likely offset by depreciation, mortgage, and property taxes. I started with $100k. Even with a ~70k salary, with locality pay and hazard pay (since you're technically in a country at-war), the pay is VERY nice I think what the OP means is, instead of slowly spending it, he wants to invest the 100k and life off the return on investment. Also My wife and I will be working part time (maybe she will do something else) too so this won’t be my only income. $2,300+ for rent is absolutely ludicrous if you’re living anywhere but the middle of downtown NYC. Still have 100k more to go. 4-5% a month is 48-60% annually. (Less than 20 a night on drinks/covers as I’d pregame). Renting anything is financially inferior to living at home, but my commute is 30-40 minutes each way with traffic and I may want to move closer to work on the peninsula, even though housing is expensive there. Compared to the super wealthy it’s still miles off their standard of living. Living off taxable account dividends/interest. Investing IRA dividends (20K -2022) as I see fit, not planning to take distributions until RMDs kick in. Never missed a payment on any obligation but the stress is building and taking its toll. One because the housing was fairly nice and Redditors who make +$100K and aren’t being killed by stressed, what do you do for a living? Advice Hi everyone, I have my bachelors and have graduate credits under my belt, yet I make less than 60K in a HCOL and I am being killed from the stress of my job. It begs the question: Why does it seem like financial Many shared a sense that while earning $100,000 was a relative privilege, it was not living up to their expectations of what making six figures would be like. Otherwise your interest capitalizes into the loan and then you’ll be looking at well over $100k & then be charged interest on the higher amount. Life is good I paid off 50k of 100k of debt at 43 delivering food in my spare time over 3 years. Or check it out in the app stores I paid off 100k of student loan in 3 years. I ended up moving to states with higher paying salaries and lower cost of living. You will be around 700k debt at graduation. And negligible beyond that. I have done something similar before. I’d love to acquire equity at some point and it’s not happening here. Food and other needs will eat up about $2k/month. I personally have been making a living from betting for several years. (Or pay for an international plan Yes. buffinita • Reddit skews young I know there are at least 7 fairly active retirees here living This is extremely possible and honestly not that hard to do if you can live with your parents for now. A guy my brother found invested 100k and we turned it to 500k by trading spreads on stocks and index options, since we get such a high rate of return around 15% give or take depending on the week, we charge a 40% commission on each "successful" trade if a trade goes bad we get nothing so the client takes 60% and we take 40%. Living with your parents will help and hopefully they don’t ask for anything. Often, the time off will only worsen issues unless you have positive projects to direct your effort into. In saying that, my partner is on a very healthy income (over 100k) and has had the ability to save whilst living at home and even then he was limited when buying to around 600k (not including deposit) which won't get you an actual house at the moment. Mental Health is very important. We pay more than $30k for daycare and $20k for healthcare for our family (2 kids, 2 adults). 30k a year. Of course, there are plenty of wealthy people out there who think little of 100k, but guess what? most people on PF Reddit are negative on their ledger and in debt so you are way ahead of them. I'm content with a cost of living of around 2k a month. I know Thai stock market is really bad and has negative returns, so do mutual funds. 100k in 1996 inflation adjusted for inflation is about 180k today. I have $ Honestly at 23 and and 100K I’d pay off all my high interest debt and put the cash in and SP500 fund. If With a paid off house the amount you actually need to live becomes staggeringly low. once in awhile Ive seen a well-connected RD get a job right out of internship in one of these roles, but usually they require clinical or sales experience and are highly competitive. 2 car payments, daycare, a bunch of debt, home improvements, etc. One of the most underrated forms of promotion is Reddit itself - I’ve seen songs get decent traction from running promo on this very platform. I can't afford to live in del mar. A lot of the people who are ACTUALLY making a living from trading aren't posting on social media and reddit. Unfortunately, I would recommend to start with 100k or more if your profitable Only way I've been able to save anything is really low living expenses and not spending much on anything I don't need. In four years, it was paying me 100k a year. You won’t be driving a new vet and living in a 5-bedroom house, but you should be able to afford the basics and go out once and awhile. It really depends on the individual circumstances. No debt, own home outright. ) honestly, if I were 28 with 100k, I'd start a business. My own position is based off of production and not so much salary. r/ShittyProgramming is participating in the Reddit blackout begging June 12th to protest the planned API changes that The difference in happiness between $50k and $100k for me was huge. Backstory: I have degenerative discs then was in an accident which really sped up my back falling apart. But I wanted to narrow in on the cost of living specifically from the people who actually live here! To put in perspective this job would pay 100k USD. Wife and I have a pre-tax annual income of $400k-500k ote and we live off of ~50% of our post-tax income. Lower your expenses as low as you can possibly get them. How old are you, are you conventionally attractive (doesn’t always matter but tbh it does help your tips), do you have a good personality, do you have thick skin, where do you live, what kind of bartending are you trying to do, can you handle fast paced, can you handle your alcohol, do you know the basics, are you confident, can you multi task, do you Now I think 100K is the minimum to be able to live decent. OP's question is asked several times a month. You could live in an outer borough, but I was trying to experience the city. Don’t sell yourself short on potential salary. also 35k assuming they come from dividends and capital gains are I live in DC which is pretty high on the cost of living index and $100k is far more than enough for a single person. I’m not I know people day trade for a living or they make money off dividends to have passive income but I’m not sure how people make a living off normal stocks. The second thing I would do open a HYSA (instead of a regular saving account) and keep at least 3-6 months of living This is when life is the best, I live with parents and make 100k. With little to no savings of my own, I had to rely on loans to pay for tuition and living expenses during my two years in school Yeah, I experienced more unexpected or "hidden" costs in the 4ish years I lived in the deep south than in the rest of my life combined. And in a couple, whilst you may find that you're both 'earning well' and very well off that isn't always Get app Get the Reddit app Log In Log in to Reddit. This year I made just under $100K, but I spent about $50,000 of it paying back loans, $10,000 on taxes, and took my savings from $250 to $25,000. I’ve always heard people complain about living on base typically citing “being too close to work”. Roth is generally a loser to Traditional if you're beyond 12% tax bracket since you're paying marginal tax rates on all of it. 100k tuition a first year. Living off selling options . So fourteen (13. $300k Feb 2018 (4y 1m), $400k Dec 2020 (2y 10m), $500k Aug 2021 (9m), $600k Sep 2022 (13m). Get the Reddit app Scan this QR code to download the app now. Or after a few years you won’t have any miners. Thanks You could pull it off living alone but don’t expect to save much or have a safety net. For me I could get buy being a single income household on 60K. I still have another $35k in public loans that I'm going to sit on while I continue living the rest of my life, move out of my This is impossible to answer. I bought where I could afford. I'm at 10 years as a emt and can get up to 100k with minimal overtime, more if I choose to grind out more but the older you get time off becomes more precious Get the Reddit app Scan this QR code to download the app now just made this post to look into whether living on 100k won't run into negative during the period where I won't be working. Any HMO recos? As a result of your dividend obsession, you want a retirement portfolio of over six and a half million dollars? Just to withdraw $100k a year? When a more reasonable withdrawal rate would let you withdraw $100k a year off $2. I just finished paying off $50k of debt in 16 months, all to private undergrad student loans. It can be very beneficial, but also has serious downsides. The equivalent of TFSA in the But if you wanted to have it be a goal, I’d suggest self discipline and a paid off house with no debt to your name. Our mortgage and taxes are $18k a year. Basically you'd want to minimize your living expenses, maximize how much you contribute to pre-tax retirement accounts, and aggressively pay off that $30k in private loans (which may involve refinancing just the private loans to a lower interest rate). It is affordable to buy a home here but people say it's not because they have to live in neighborhoods they can't afford. When I Over 100k in debt at 24 I’ve made some very poor financial decisions in my late teens/early 20s and now feel like i’m in a hole i’ll never get out of. This will bring down your “minimum monthly payments” as well as significantly lowering how much interest is accruing on a daily basis. Check your accrued interest while you’re on an in-school deferment, and see if you can pay it off by the day before you start repayment. Living off Blackjack . 100k is a lot, my loans are only 28k so if I do $200 extra a month on my highest interest loans, I should be able to pay all of that off in 5 years as opposed to doing my minimum which would take 10 years, even though I paid for 8 or 9 months Yeah I don’t see you paying this off in 2 years with that income alone. (Source: SmartAsset) $5,812 - $4,265 (rent) = $1,559 for all non-rent-related expenses per month. In the midwest/south/super cold areas of the north, assuming you push out to the burbs or country (without killing your budget commuting) maybe 100k minimum for a family, 75k for a single. Major supermarkets discount meat expiring in the next day, sometimes it's 50% off and fine if you plan on using it that night. I myself am married to a stay at home mom with a 10 month old at home, as such we are living off my salary only and sadly it Yeah, if you could pay it off in 3 years, that's $61667 per year to the loan. OwnBunch4027 You probably would struggle living on 100k if you’ve got a family Reply reply I live off rental income, leaving my market based investments alone. . I live in a tier 2. You'll make more money in a city than you will in most small towns, but the cost of living may also eat up that extra income, and the competition for jobs is *much* higher in a city than in a small town (unless you're in suburbs so close to a city Omg yes I totally agree. All totaled, two people living together need about $100k/year between the two of them to be able to afford rent, utilities, food, gas, parking, etc. If one tries living off of 500K and they are using their entire buying power to make 15%/year, I think that is bound to fail. Because if you have $1 million dollars and want to live off that at age 50, you run out of money at 65. Give me $100k a year and I will live like a king off of it. No car loans (company vehicles). 9) homes netting $400 each per month would replace a $100k salary. Use large accounts like 100k or 200k. Nowhere near as much between $100k and $200k. I have lived on base at two installations. Yes, I would get a loan to push that insane credit card bill and interest. Especially fine as the area you are planning to live in is not high cost. You read about the power of compound gains all the time, but to go from $100k to $200k in three years when the first $100k took seven years is Look into shielding your money from tax, in Canada we have TFSA (tax free savings account) so you could throw in around 100K in there if you're ~30 years old, and any profits made there are tax free. You actually don’t really think about the money after a while. You aren't living comfortably under 200k in California. priced at $70k (25% down because we aren’t living in it = $17,500 down), top down duplex with 2 three bedroom units that will rent for about $900/mo each. Want more comfy life? Have larger dividend portfolio. Currently, those who are laid off are taking jobs at agencies which have low base salaries, or they’re taking hourly gigs/short term The cost of living in terms of rent (I’m told) and housing prices have increased quite dramatically. Especially if you're outside US and don't have to pay for health insurance. Even if it makes a comeback, there are a lot of recently laid off, talented recruiters waiting to be called back for duty. 80 a day ($180 a month), and with now being down to my very last loan, only accruing 10 cents a day. I'm in Esperanza and when I first moved into my 1 bdr apartment, rent was only $1795. Its extremely nice though in westchester and not LI. You can absolutely live extremely comfortably in the northeast on 100K. I can eat out for every meal. Started at 23, and I could easily live off SS and FERS, with a zero TSP balance. 100k? Put 80k into something super safe because I want to buy a house, and that gets me 20% down on a 400k property. Today I'm like everyone else, living with a partner but making 150% more after going back to school and living elsewhere before moving back. Thank you. In the past three years, I have raised my monthly contributions, continued to invest, and am now just shy of $200k at the age of 35. So there are plenty of people living on less. It’s not like I’ll have high cost of living. I feel as if blackjack was a lot more popular in the past, with many more people doing it and doing it successfully, and teams making millions. io. Or check it out in the app stores &nbsp; &nbsp; TOPICS Living off on dividends from generous savings and loan associations that serve members of the military and the police force. 700k, at 7% is 49k a year interest alone. More replies. I started off accruing $5. Despite downsizing to a smaller apartment, cutting back on groceries, and settling for smaller trips, they say they're left with roughly $100 at the end of the month. You need to re-invest about 50% of your profits to keep up with hash rate growth, defective miner, etc. It's possible. Nothing wrong with it. 100k divided by 26 (pay periods per year) = $2600 after taxes x 2 = $5200 per month. Realize this and try not to go nuts with the spending just because you can. My partner does not work for medical issues and my salary is about $120K. You will be 500k in debt by grad. Expand user menu Open settings menu. pro tip; don’t show up in the city from London hand wringing about what kind of lifestyle you’ll get to live on $100k/yr when that’s a pipe dream for the vast majority of born and raised new yorkers. This helped motivate If you live in a place where you don't need to have a car or other large commuting expenses, you can save a lot of money. When i leave work, I ain’t going back unless I’m recalled. Yes. I have a wife and a kid. If you're living rent free with zero expenses of any kind, and let's say your AGI is $90k, by the time your loan is forgiven you will have paid $214819, and will have $141301 forgiven (and have to pay tax on it). She makes $100K, I make $75K. this is the secret formula. Our minimum monthly credit card bills are $1,800. Eventually I’d like to break into games/movies and such, but podcasts represented a pretty easy entry point for me. £100k once it's taxed and NIed away, and then you have to suck up a rail season ticket or the egregious rent in the London area (and sometimes both!) actually doesn't go as far as it looks. Living Yes it depends on where you live but in general 100k CAD is pretty much upper middle class no matter where. That leaves him with 1000 rmb a month for food, transportation and utilities. Today 100k is worth almost have of that. Cheapest I found was still in the $1300 range. 100k in San Fran is different than 100k in Arkansas. I would definitely take some of that 100K and pay off ALL debt. Fencing paid itself off after year 2 as well. No idea if investing in property and living off the rent is feasible. So mortgage will be approximately $600, rental income of $1800/mo. You can pay off that credit card in 8 months if It's less black and white than you are making it out to be. 75K if single and 25-30 and don’t mind living in a shithole with a few buddies. 100k Emergency Fund mabilis lang sa ER. It seems like an impossible task to buy, even on decent incomes. Drive a 2012 Toyota Camry with 100k miles on it, wear Costco/Walmart clothes and take the occasional cheap This is when life is the best, I live with parents and make 100k. 100% this. Stocks? Put more in retirement? Find and join a credit union with high interest rate? Pay off loans faster? Interest rates are 4-5%. I’m buying a home mainly for investment purposes, 1 year owner occupy and then moving back in with my parents. more reply. If you're making $280k, you should be able to pay this off in 2 years with aggressive payments. i tried getting a personal loan to lower my credit cards and ended up racking them up again. I’m also headed east to NC. Also remember the job market can take a turn for the worse (as it currently is) or your cost of living might suddenly increase. 60K in a year. Their combined salaries couldn't afford half that house. 5 years ago I gave it a shot, took about 3 months to take off and have a viral video. Or I have set up my pre-requisite to quit my day 9-5, which are 1) Pay off mortgage 2) save upto 1 year living expenses 3) 10 years of retirement all in indexes. Dividend paying stocks is the easiest illustration since that is where the rewards are paid out to you in cash every year. Will have plenty of money for fun. I mean if I was making $100k and my tax is 22% 100k in 1996 inflation adjusted for inflation is about 180k today. I didn't do this forever though, it was mainly motivated by wanting to build a decent buffer so I could be out of work for 5 years without becoming homeless. The median family income is about $67k. The absolute vast majority (ranging from 80-98%) of day traders lose money over a year. The first $100k is so hard because your pay is low. And 67k tax free income per year replaces 100k taxed income. Or check it out in the app stores No shot a Patel sells off Gujrat for 100k lmao Reply reply more reply. g. His FIL is a very successful buisness owner who sold off the buisness when he retired. I see single people on Reddit all the time complain that they struggle or live pay check to pay check on 100k. I am not living in luxury. living the dream (and suffering). I currently have a For context, 1. But that's being booked up 99% of the time, minimum 9-10 cuts per day 5 days a week, 50 weeks out if the year. About $50K of that has been living expenses while I was in school. I get that the weather is pretty dang perfect and can’t be beat but man it comes at the cost of actually living and enjoying life. Things would be tight. Lol Only way I've been able to save anything is really low living expenses and not spending much on anything I don't need. If you want to live alone most of the difference in inflation adjusted salary would be eaten by rent (1800 to 2800+). Car Thieves Get Instant Karma in the Bay Area (the FINAL Glitterbomb 6. I did have kids and a wife but the wife was not living with us, she decided to stay behind. people going hungry. If I were to move out I wouldn't be able to afford living in Irvine anymore because of how ridiculously high rent has gone up since 2020. Now I have approx $15k. If you're working for wages and not retired, living off of dividends, you've got wage income to buy groceries and pay the electric bill. It can just be difficult to speculate based on online data alone. I only put the minimum and focus on paying down home. A reddit community for DebtAdvice. I honestly think it's possible to live that way but you must be ok with the frugal live lor. I can travel all over the world on a whim. Yeah I don’t see you paying this off in 2 years with that income alone. It's useful to have some Roth money in retirement so you can handle large one-time expenses without showing extra income, but you're generally better off with the bulk in traditional, and you get quite a bit of Roth from Roth IRA contributions. Drive a 2012 Toyota Camry with 100k miles on it, wear Costco/Walmart clothes and take the occasional cheap So you could by 15 of them with $100k So if you can live off $125k per year sure. To earn 60-70k after tax, you’d probably need to earn over 100k euros per year, which would put you in the top 10% of income earners in Spain. No state/local income tax. Or check it out in the app stores to live in your own place, and hold on to some savings, and still modestly be a person, you're going to need closer to 100K. If you have 100K in savings, that would take a load off your shoulders, you wouldn’t be accruing more interest, and you could be DEBT-FREE. So that's living off of $5,812 most months. 5 million? That sounds like a ton of additional effort with no real benefit. 100k a year is not considered wealthy, it’s considered well off. Much more manageable cost of living. Yes you will be fine. I started buying in 2016. Given the median household income in Boston is ~$100k, saying that you need 30% more to live comfortably as a single person sounds like whoever wrote the article thinks that going out for lunch, annual international vacations, and living in new apartments is required Some folks make 100k, live in a HCOL area, got a big family, daycare bills, car notes, CC debtthat doesn’t do much at all Some folks make 100k, live in a LCOL maybe don’t have any debt or kidspaid off car. Brisbane is cheaper than Sydney, 300 days of sunshine a year and lots of free activities on for kids. Once that is paid, I could live with less than a quarter of my current income. Living in Thailand also gives me the standard of living of a millionaire in the UK without having millions in the bank. Even in CA, living off of $130k post tax is survivable. Overall I think 1mil is like minimum ah, to me. I don't tell people it's not affordable to live here comfortably or buy a home here with a 200k salary because I can't afford a home in Del Mar. There is a big difference between $100k when single vs having four kids. One such conversation starter on Tuesday carried the subject line: “100K is the new With $100,000 a year, a person could cover typical expenses, pay down debt, build their savings, contribute toward retirement, invest, and still have enough money for entertainment, hobbies, and vacations. So that’s usually with two adults working. The algorithm and app constantly evolves so my account is now dead, like, 2K< views per video. Zero federal income tax last 6 years. I successful business will beat the market by an insane amount. Enough to have a family and retire in old age. This was only possible because i saved aggressively for 2 years after being promoted and my late grandma's house was fully paid off. Overall it is way cheaper than buying food and the solar will pay itself off after 3 years. Find good times (most important part!) to approach whichever dept. All discussions on Reddit are colored by the same bias, which is that all of the participants are people who like to reddit and have time for it. Just don’t forget about the wash rule and that 30%+ of your winnings are taxes. Possibly more. Many libraries across the country are laying people off because their budgets are getting cut. To the people making fun of my crappy apartment: I just got over $100k in savings because of my cheap rent and living below my means. Pretty well above 100k and my wife makes decent money too. That is equally daft. Was making ~$400 a month off of it for about 7 months until the videos died down. I make around $7Ok a year, and l'm doing fine. I paid off 20k of the remaining 50k with budget and the final 30k with a consulting job I did in the side. But that's assuming i can meet a 10% gain every month. Let's use Chicago as an example. Just to cover basic cost of living, such as rent, food, medical, travel costs. Good luck and don't rush! So 100k -33%=$67k. With dividends you never run out of money, always have access to the million if you need it, and leave it as a legacy for your kids. If 100000 Americans moved to albania tomorrow and spent like they do in the States, prices would get unmanageably high for the locals who are getting If you get a contractor position with the DoD at Camp Humphreys, they provide housing for you, even off-base. There is no $100k / year guarantee for a software boot camp. You could work real hard to earn 100k and then 100k can be lost easily in the heat of the It’s not uncommon for Redditor in those subs to think it’s unlivable in the Bay Area making “only” $100k, yet the median household income of the Bay Area for a family of 4 is about $120k, meaning 4/10 people are living with less than a $100k per family income. If I was really trying I could eat on $30/week. Little things like you go to a mechanic and they upsell you on a bunch of shenanigans & then do a shit job with the Does the $100k/year include Superannuation or is it on top? $100k/year will net you somewhere in the range of $6k/month assuming Superannuation is on top of that. View community ranking In the Top 1% of largest communities on Reddit. Half of that will go to housing (~$3k/month) including utilities. I really respect that you make a living off of music and I thought I’d see I was assuming he would dip into his savings over the course of his retirement instead of just living off of the interest. i've paid off $100,000 of student loans over the past 9 months. Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog by bigjpert. (Last year I lived on around $11,000. It also depends on if you have kids. 0) - A new 20-minute video from former NASA engineer and Sunnyvale resident Mark Rober In response to a couple of recent posts asking about what those who live off their dividends invest But when I see people calling 100k per year “livable” - makes me fill miserable 😀 Reply reply More replies More replies. You should be fine supporting 4 people on $100k/yr. Not for opinions, not for relationship advice, and not for preaching. When I was 28, back in 2006, I started a business with 37k in debt. lpdaqj ngulu bwhed keohj qafl wog zkavuc kninlbv xatfww uumhub