Whats a good salary to you?

[Loo.wii]

Back in they day i used to think 100k was a great salary these days that doesn't go that far. Based on my industry a decent salary is about 140k. What is a decent, good, great salary to you?

 

[MTtrout]

Whatever makes you happy and puts money into retirement. I will never even sniff 100k per year but I’m sure I will have more money in my retirement than some of those that do.

 

[Moosehunter]

I thought 100k was incredibly high. Id be shocked if I'm ever even near there. I'm a happy man with a lovely wife tho.
I may not ever own a house either but I just try to be content. Comparing to others never really helped me. I've tried that. Lol

 

[cck311]

Yeah, it's crazy how little 100k seems now compared to when I was growing up. That being said I'm below that 100k mark. With combined salaries my wife and I are well above it, but I sure don't feel rich.

 

[Wrench]

It's not what you make.....it's what you save.

 

[TxxAgg]

Wait till the sheep hunters chime in.

 

[fngTony]

Not sure how to answer this. A good salary relative to my area and line of work or just a general good salary for my area?

 

[huntnful]

Blue collar trade. $150k salary. 180-220k annually with OT.

It's not what you make.....it's what you save.

Very well said! Having a large nest egg or portfolio is such a freeing feeling.

 

[MuleyFever]

Depends on where you live.

 

[SloppyJ]

I remember when I was 16yr old and started interning at a civil engineering firm. I thought 100k was the holy grail. Ive surpassed that and my family can live comfortably. However, it's not the end all be all I thought.

The problem is that inflation has dwindled my magical 100k mark. Covid really screwed us and it seems salaries still haven't kept pace with inflation. Especially in the public sector. But I also thought it was damn near impossible to top 100k working in the public sector. That's not the case anymore.

 

[Danny Hoey]

1.5x-2x the median income for your area

 

[survivalistd]

Living here in Southern California and was fortunate to have my dad help me with my houses when I was sixteen. It's super expensive here. I can't wait to sell and move out of this state. I have my own business and to me being able to watch all my kids sports is way more important than money.

 

[cnelk]

Managing money is more important than making money

 

[Maverick1]

More to it than just salary. The bigger picture depends on your:

1. Salary
2. Cost of living
3. Spending habits
4. Savings / investing habits

And that’s about it.

Edit to add: I “think” I could “get by” on a salary of $1M per year. More, even if to just prove a point. If anyone would like to donate to funding this on a test basis for the next 5-10 years, just let me know. I can make the appropriate accommodations. LOL.

 

[TheHammer]

Wait till the sheep hunters chime in.

Residual income, having your money make money and leveraging assets. Does not have a fixed number. Having everything run through an entity or trust not you as the individual. (What I figure sheep hunting requires)

Imo a good salary is one that takes care of your basic needs. Like needing to go hunting in multiple states with the latest and greatest gear, annually. That is the most essential basic need imo.

Kids are well fed, freezers full, the vehicles are maintained, bills are paid and weekly investments made.

A lot of us have a good bit to be thankful for.

 

[Ucsdryder]

Not sure how to answer this. A good salary relative to my area and line of work or just a general good salary for my area?

And how many kids you got?

 

[Marble]

In my area, if you make 100k, you are doing pretty well. I have been above that mark for well over 20 years. I retired from one career and have started another. So I'm double dipping now.

The great majority of people are very ignorant in financial matters. They are afraid of the unknown and just do nothing. I have several employees that contribute nothing to their retirement, which cost them the match I offer I just shake my head.

I always try and remember...

Comparison is the thief of joy.

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[fngTony]

And how many kids you got?

Less than you . But yes that’s a big factor

 

[MountainTracker]

Spending habits is a major money drain. Car loans and cc bills kill wealth saving ability. I haven’t had a car loan in over 10 years and it has made a massive difference in the quality of life I can provide my family.

doing a house hack to reduce or eliminate your mortgage is massive and another option to free up income.

Sometimes a move out of a high living expense area is needed.

A lot can be accomplished with $100k


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[ReaptheHeat]

Depends on the area... You will struggle to raise a family in my area on less than 100k. And you will never own a home. 3 + years ago when rates were sub 3% it was possible.