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Combined income of 150k PA = rich or battler?

Discussion in 'The Pub' at netrider.net.au started by blackadder, May 11, 2011.

  1. I was reading this article on The age and I was naively amazed by some of the reader comments.

    I'm a research student living off approximately $25k per year (no scholarship- I saved up hard to buy the trumpy). I was quite happily thinking that, for myself, $50k a year would be plenty to live happily on. After reading comments on theage I feel I must be living like a bum. :cool:

    How much is enough for you? How much is enough to raise a family?

  2. This will not end well.
  3. I am a CEO earning 10k/day and let me tell you, it isn't easy to get by.
  4. When I left uni, I thought $48k was huge money.
    2 jobs later I thought $70k was huge money.
    etc etc.

    A few years later I'm well north of that and I wonder how I lived on $70k. It's all about perspective and expectation :).

  5. my wage just droped from 85k to 40k if lucky .the more you earn the more you tend to spend i like money
  6. +1

    You live to your means, It's hard to look back and wonder how we got by, and we look around us when we are starting out and wonder how the **** those other people seem to piss all that money away...then you get there and know.
  7. So so true. I was on big money. 100K+. And never been so in debt in my life. Like sleepless nights thinking how the hell am i going to cover this months mortgage and CC bill. Where the F did it go. I was always stressed and not really happy. I wasn't a nice person.
    Now I am on just under 70k and life is so easy. I still have to worry about the mortgage and stuff. But it's all reasonable figures. And I have cash in the bank. Because I know i cant afford the latest and greatest.
    Took me most of my life to get to be where I was earning over 100K and living waterfront. It took a few bad things and less than six months to lose the lot.
    Honestly I am a much happier person now.
    There will always be something newer and better. Now I look after and cherish what I have.
  8. Yeah, I know how you feel, pretty tough hey. Should be paying CEO's 3 to 4 times that.
  9. More money more problems.
    The more you earn the more your expenditures grow simple.
    I have a friend who's been on the dole for the last 10 years despite having 2 double degrees he can't hold down a job. But he is the happiest person I know.
    Does money bring happiness? I'd say far from it.
    If your ok on 25k pa I'd say you'll be fine anywhere b/w 40-60k pa.
  10. lol graney you're the hoboest of them all
  11. I'm gonna stay the hell away from this discussion... :/
  12. Some of us just make do with what we have.
    18 years ago I used to live on 20-50 a week, buying smokes fuel and spending what ever was left over on stuff.
    Get an apprencticeship and jumped to $140 and I used to spend most and save a bit.
    I can see how many people fall into the trap of earning more and ending up further in debt. I know I can now afford all sorts of stuff, do I go out and buy it? No, because I question whether I 'need' it or just 'want' it, it's always suprising how many people don't understand the difference.
    BTW, 150k combined certainly doesn't make you rich and it certainly doesn't make you a battler either.
  13. Melbourne median house price: $565,000
    10% deposit: $56,500
    Mortgage: $509,000
    Monthly mortgage repayments: $3,380 = $40,000 net per annum
    So an annual income of $50,000 pre tax is enough to pay the median mortgage, in Melbourne at today's prices and interest rates (very rough maths).

    Next you need money to live on, which is based on lifestyle choices. (Well the choice of house is a lifestyle choice too - you don't have to buy, and you don't have to buy a median house, after all ...)

    So based on this, if $150K a year battling? No, I wouldn't have thought so. But if in addition to a median house you want to have a car or two, buy school uniforms, insurance, rates etc etc etc, and if you need to pay for child care coz both people work, I can see how $100K wouldn't leave much left over...
  14. I work with people who are teachers, many of whom are also married to teachers, so their combined income would be at $150,000, in some cases, more. They spend every recess and lunch break rabbiting on about their last trip to Bali, or their next cruise to Hawaii; none of them seem to be doing it that tough, despite the bleaters being out in force today complaining about how hardly they'll be hit by the budget.
  15. It's obvious some people on combined incomes are doing it tough in their lifestyle choice whereas others on the same income are comfortable in their lifestyle and hence are not doing it tough.
    Each to their own

  16. Add to that school fees if they send their kids to private schools and yes some people struggle on their income.
  17. Money buys a better class of disappointment
  18. the more u have the more you spend, no thanks
  19. i'll go against the grain here: i'd love an extra 10k a year.
    but even with that extra 10k i'm still not halfway to that 150k struggle point
  20. 150K for combined for a whole family...could be a struggle. Mortgage, insurances, car(s), bills, school fees, uniforms, etc...

    In saying that, my parents had a combined income of 80K and they still managed to buy a house and send children to private schools. It's all about living within your means...not buying everything with a debt because you want the latest gadgets (unless you can budget well).