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Forum
-> Household Management
-> Finances
roots1986
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Sat, Jun 24 2017, 11:09 pm
I am just curious when someones say they are doing ok financially, what does that usually mean they are making gross income? Trying to understand.
TIA
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zaq
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Sat, Jun 24 2017, 11:12 pm
I suspect that financial security, like beauty, is in the eye of the beholder. Some feel they're financially ok if they can pay their bills each month. Some feel insecure with millions in the bank.
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rachel0615
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Sat, Jun 24 2017, 11:21 pm
Also depends where they live. Living oot and doing ok and living in Brooklyn and doing ok r very diff
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amother
Gray
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Sat, Jun 24 2017, 11:28 pm
Are we talking as a newlywed with no kuds or mortgage? Are we talking about a family with 5 kids and a mortgage?
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amother
Coral
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Sat, Jun 24 2017, 11:29 pm
It's different for everyone!
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amother
Orange
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Sat, Jun 24 2017, 11:37 pm
IMO
1. Being able to pay all your bills on time
2. Owning a house
3. Owning a car
4. Paying full tuition
5. Having at least 6 months salary in savings
6. Going on vacation 1x a year without touching savings.
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mommy3b2c
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Sat, Jun 24 2017, 11:49 pm
For everyone it's different. I think in Brooklyn with 3-5 kids between $250,000 and $300,000 the your are doing pretty okay. But if you overspend and have a ton of debt, or invested in a business and have debt from that, or any other reason for debt, then it's a lot less then it sounds.
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roots1986
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Sat, Jun 24 2017, 11:50 pm
Are you able to do that with gross income of 120?150?200?250?
I am curious what most average people are making combined gross income.
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amother
Pearl
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Sun, Jun 25 2017, 12:06 am
amother wrote: | IMO
1. Being able to pay all your bills on time
2. Owning a house
3. Owning a car
4. Paying full tuition
5. Having at least 6 months salary in savings
6. Going on vacation 1x a year without touching savings. |
What about marrying off your children?
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amother
Pearl
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Sun, Jun 25 2017, 12:08 am
mommy3b2c wrote: | For everyone it's different. I think in Brooklyn with 3-5 kids between $250,000 and $300,000 the your are doing pretty okay. But if you overspend and have a ton of debt, or invested in a business and have debt from that, or any other reason for debt, then it's a lot less then it sounds. |
How many people you know really earn this amount of money?
250 to 300k???
Nice dream. Please tell me which jobs pay like this. I need one asap. Ready to travel anywhere in N.Y. Or even farther.
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amother
Fuchsia
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Sun, Jun 25 2017, 12:13 am
mommy3b2c wrote: | For everyone it's different. I think in Brooklyn with 3-5 kids between $250,000 and $300,000 the your are doing pretty okay. But if you overspend and have a ton of debt, or invested in a business and have debt from that, or any other reason for debt, then it's a lot less then it sounds. |
That's what you consider financially okay? I would think that's well off.
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amother
Gray
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Sun, Jun 25 2017, 12:23 am
amother wrote: | How many people you know really earn this amount of money?
250 to 300k???
Nice dream. Please tell me which jobs pay like this. I need one asap. Ready to travel anywhere in N.Y. Or even farther. |
Nobody said alot of people make that income. I agree with the poster that a typical family of at least 6 living in Brooklyn, needs to make a MINIMUM of $250,000 to be even slightly comfortable.
Of course if family is paying some bills that's a whole different story.
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mommy3b2c
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Sun, Jun 25 2017, 12:29 am
amother wrote: | How many people you know really earn this amount of money?
250 to 300k???
Nice dream. Please tell me which jobs pay like this. I need one asap. Ready to travel anywhere in N.Y. Or even farther. |
I know lots of people who make that money.
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mommy3b2c
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Sun, Jun 25 2017, 12:30 am
amother wrote: | That's what you consider financially okay? I would think that's well off. |
What makes a person well off? With that amount you are most certainly not rich.
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amother
Pearl
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Sun, Jun 25 2017, 12:32 am
mommy3b2c wrote: | I know lots of people who make that money. |
Employees? Or, business owners?
Please tell me about them. I'm not sarcastic. I really need such a job and I'm ready to do anything. Thanks.
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tichellady
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Sun, Jun 25 2017, 12:36 am
There is no one answer to this question.
Last edited by tichellady on Sun, Jun 25 2017, 12:37 am; edited 1 time in total
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amother
Gray
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Sun, Jun 25 2017, 12:37 am
mommy3b2c wrote: | I know lots of people who make that money. |
It's not about the actual number of people that you personally know. I think it's fair to say that at least 80% of families living in Brooklyn with at least 4 kids DON'T make $250,000 or more a year. The fact that you might personally know 20 families that make above that number doesn't change the dynamics of the situation which is the overwhelming majority are under that number.
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amother
Fuchsia
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Sun, Jun 25 2017, 12:39 am
mommy3b2c wrote: | What makes a person well off? With that amount you are most certainly not rich. |
I guess it's all relative. In my mind okay means paying all the bills and having a little extra, well off is more comfortable, and rich means you're making significantly more than average.
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amother
Sapphire
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Sun, Jun 25 2017, 3:51 am
amother wrote: | That's what you consider financially okay? I would think that's well off. |
Don't forget that with that income, almost 1/2 goes to taxes and another about $35,000 a year goes for health insurance.
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amother
Pearl
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Sun, Jun 25 2017, 3:57 am
amother wrote: | Don't forget that with that income, almost 1/2 goes to taxes and another about $35,000 a year goes for health insurance. |
So instead of 300k they end up with 115k?
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