This. Depending on how crappy your benefits plan is, 100k looks more like 60k

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May 19, 2023
10:19:18am

here's to hoping All-American

This. Depending on how crappy your benefits plan is, 100k looks more like 60k

after taxes/medical plan. And after the cost of living (sofi puts it at 42k) and tithing (6-10k depending on how you measure your "income"), it looks more like 10k. You can make ends meet comfortably, but 10k doesn't feel like "getting ahead" because that amount pretty much needs to be put into a retirement plan to stay on par with what is recommended.

This message has been modified

Originally posted on May 19, 2023 at 10:19:18am

Message modified by here's to hoping on May 19, 2023 at 10:26:21am

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here's to hoping

Bio page: here's to hoping
Joined: Apr 13, 2017
Last login: Nov 9, 2024
Total posts: 4,044 (2 FO)

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Messages

Author

Time

100k ain't what it used to be....

RexIdaCoug

5/19/23 7:03am

They probably spend $20k/year for each dog baby they have.

mobomanjoe

5/19/23 7:04am

Starbucks too

Kolobrdm

5/19/23 7:35am

But the dog baby will pay into social security for them right?

jrifkin48

5/19/23 9:24am

my son and wife spend a small fortune on their 2 dogs. Can't afford kids.

qwerew

5/19/23 12:13pm

and make over 200k together as biomed engineer.

qwerew

5/19/23 12:14pm

Seems like none of these people have kids either… crazy people

homegrown

5/19/23 7:08am

Yep ^^^^

Pretorian

5/19/23 7:58am

Well 100k isn’t what it used to be that is true but things should always be compared with regard to cost of living

Baron

5/19/23 7:10am

Looking at it in a vacuum can take your breath away.

Shihan

5/19/23 7:16am

Maybe it depends on what it means to be getting ahead?

justAnotherCoug

5/19/23 7:11am

None of them are morons. Looks like they all do a decent job

JuicyJam

5/19/23 7:12am

They are morons for complaining when they are doing better than most

RexIdaCoug

5/19/23 7:29am

Would you say that most complaining about the economy on CB are doing better

vagabonder

5/19/23 7:32am

Definitely!

Tokolosh

5/19/23 7:34am

I have no idea

RexIdaCoug

5/19/23 7:34am

You don’t see the difference?

Pretorian

5/19/23 8:01am

Complaining about inflation is no longer allowed apparently.

JuicyJam

5/19/23 9:25am

It gets categorized into politics since the fault falls on a certain man

jrifkin48

5/19/23 9:28am

No connection to the current global inflation crisis, which is worse in several

vagabonder

5/19/23 10:25am

RE: 100k ain't what it used to be....

md7Coug

5/19/23 7:12am

Oh that level of wealth exists. Just a lot more money than I have or make!

justAnotherCoug

5/19/23 7:16am

A guy in my ward said, "Doesn't matter how much you make, end of the month you

ReiUrso

5/19/23 8:13am

Good lesson!

md7Coug

5/19/23 8:14am

Uncle who was an airline capt making good money always said he’d never make more than his wife could spend.

Soupie

5/19/23 8:22am

If I were moving into my neighboorhood right now, $100k would not be enough.

fbguru

5/19/23 7:15am

There is a lot of truth to this. A lot of people think they need have it all by

Cougar TD

5/19/23 7:17am

Exactly

RexIdaCoug

5/19/23 7:30am

Having it all costs a lot.

Archaea

5/19/23 7:16am

Unless you're in a high expense area - I don't feel bad if you can't "get ahead"

Adwight

5/19/23 7:16am

I think a lot of the anxiety about getting ahead ignores that your best salaries will come in your 40s and 50s…

Tokolosh

5/19/23 7:18am

I make about 7 times now what I made when I was 29. Work hard and give it time.

5/19/23 7:24am

There's also the issue that retirement accounts have been losing money the

donnerstag

5/19/23 7:26am

All of them seem to be saving for retirement

donnerstag

5/19/23 7:19am

"Fifty thou(sand) a year will buy a lot of beer ..."

stirmac

5/19/23 7:21am

One of the couples has $50,000/year in student loans

viper

5/19/23 7:26am

Hopefully that's them snowballing their debt payments, to get it paid faster

Ungoy

5/19/23 8:55am

Definitely a lot more expectation issue than salary issue. Most of earning & saving more

Soupie

5/19/23 7:28am

Reading through the list, it seems they are all doing quite well.

OPINIONS

5/19/23 7:37am

Agreed

RexIdaCoug

5/19/23 7:40am

There seems to be a lot of people making $100,000+ anymore, I've got a buddy

RC Vikings

5/19/23 7:46am

A million isn’t what is used to be either… the main difference

Pretorian

5/19/23 7:59am

They are all doing as well or better than I was at their age but I had 3 kids

fulano

5/19/23 8:07am

$100k doesnt work anymore.

Backcountry

5/19/23 8:23am

Totally depends on where you live and how you spend.

Cougar TD

5/19/23 8:29am

Or if you want a home, car, and food.

Backcountry

5/19/23 8:40am

You would struggle to own a house and raise a family on that in Utah.

ReiUrso

5/19/23 8:42am

Yes it does. I'm a teacher making a little over 100k. In Utah.

Adwight

5/19/23 9:20am

What kind of teacher makes 100k in Utah?

OPINIONS

5/19/23 9:31am

Get extra stipends and coach sports that take no time away from family.

Adwight

5/19/23 9:40am

Sounds fine except no teacher I know (which is a lot) gets 4 mos off.

Soupie

5/19/23 9:45am

I don't do any extra work outside my contract time or any extra summer work.

Adwight

5/19/23 10:02am

Most teacher contracts are for at least 185 days which is <4 mos off.

Soupie

5/19/23 10:17am

RE: Most teacher contracts are for at least 185 days which is <4 mos off.

OPINIONS

5/19/23 10:22am

You mean I get weekends off too!?!? Preposterous!

Adwight

5/19/23 10:25am

That's not counting weekends. 52 wks of 5 days/wk = 260 - 185 = 75 fewer days / 5 = 15 weeks < 4mos.

Soupie

5/19/23 10:29am

You can keep arguing with me on the math... but I'm pretty sure I know exactly

Adwight

5/19/23 10:58am

You are ruining a lot of teacher narratives right now haha.

JuicyJam

5/19/23 10:29am

Happy to do it. I will say this: It isn't for the feint of heart.

Adwight

5/19/23 10:42am

Oh I'm very aware. More than you may realize.

Soupie

5/19/23 11:02am

Hmmm… I guess I need to change districts. I’m finishing year 16 with a masters

fubecao

5/19/23 12:10pm

$1370 a month on cars? Haha

BamBamBigelow

5/19/23 8:34am

Not that simple. Inflation is real.

BlooCoog

5/19/23 8:40am

Complaining about money when you are within a year or 2 of debt free owning a

NYC and Japan

5/19/23 8:46am

RE: 100k ain't what it used to be....

nitestal

5/19/23 9:04am

A single guy can live on 50k and have savings; a married guy with 100K

Archaea

5/19/23 9:16am

Mounting pressure on finances? ALL case studies put like 10-20% of income to

Doogal McCougar

5/19/23 9:19am

I’m 29. I think the point isn’t that 100k isn’t enough—it’s that it doesn’t

Ben Swife

5/19/23 9:27am

This is the correct perspective. 100k is a starting point, not an ending point.

Archaea

5/19/23 9:44am

"isn't horrible" love it... if I made $50k-65k passive income, id be retired

BYUFootballisBack

5/19/23 10:38am

net 65k passive income and I'm definitely leaving my job.

here's to hoping

5/19/23 10:43am

We like nice things. I didn't say I had that yet.

Archaea

5/19/23 11:38am

And as kids we had no clue how taxes and expenses worked.

5/19/23 10:01am

This. Depending on how crappy your benefits plan is, 100k looks more like 60k

here's to hoping

5/19/23 10:19am

this is true but can still be done over 40-50 years of monthly saving.

qwerew

5/19/23 12:21pm

A lot of them eat out at least 2x a day.

ImuaKahuku

5/19/23 9:33am

These people obviously are not planning for being laid off, which happens often

DCCougFan

5/19/23 9:56am

I made that 35 years ago shortly after I

deljdc

5/19/23 10:49am

Median cost of home compared to median household income over the decades...

Dwreck

5/19/23 11:18am

Homes are also way bigger now than in the other years, so factor that in too.

5/19/23 11:23am

I’d bet lot sizes are way down though.

JuicyJam

5/19/23 11:30am

They are, but home prices are still way up.

Tokolosh

5/19/23 11:30am

And that's a steal if you can find them, especially east side of SL valley.

Spindash

5/20/23 2:23am

Home size is not the reason for the cost increase in homes in the last decade

here's to hoping

5/19/23 11:46am

Homes are larger, but lots are smaller. Can't fix the lot. And good luck

Mitty

5/19/23 12:13pm

In all fairness, there are expenses no one had in the 70's & 80's too.

Soupie

5/19/23 11:23am

yep, just have to have the latest, best electronic/phone devices and best plans.

qwerew

5/19/23 12:12pm

Maybe true but no one had cell phones or internet of any kind so cost was $0.

Soupie

5/19/23 12:23pm

What the boomers dont mention when they talk about their 18% 1979 interest rate.

Backcountry

5/19/23 11:55am

Or that they all refinanced in the 80s.

here's to hoping

5/19/23 12:12pm

the most me and my wife have ever lived on is 58K in a year. 100k would be easy

qwerew

5/19/23 12:10pm

granted we still live in the same 112k house we bought 22 yrs ago at low interes

qwerew

5/19/23 12:18pm

Good to see that frugal people still exist. Kudos to you.

Archaea

5/19/23 12:24pm

well maybe. The new build my wife wants will be 1mil+.

qwerew

5/21/23 8:49pm

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