Whats a good salary to you?

[Nutkin13]

I remember thinking in the 90's-early 00's that the kids who's dads made $100k were rich.

My wife and I combine for more than double that and we ain't exactly living large.

We're over triple our state's average household income, hard to imagine what it's like on the bottom end of that spectrum

 

[Benlarsen21]

A good salary is one that allows you live within your means and save money as well.

 

[Conrad101st]

$225k to live the lifestyle I like.

 

[Hnthrdr]

I've never been close to $700k, but the more I figure out how to earn in business the more I question if it is worth it to earn that much money for the government. Having more for my family is good, but it sure is a kick in the junk to write a check for more than we used to make after already paying the estimated tax all year.

I would definitely have to buy a heavy bag and beat the hell out of it every year in April if I had to write a check for $180k.

People wonder why folks get creative with tax planning and try to find loopholes… this is why. All the hard work and it feels like you take two steps forward, 1 step back some days

 

[Hnthrdr]

Twenty some years ago, my dad told me that he made about 100k/yr as a successful car dealer. I thought he was just killing it, and he was. It was always my goal to get there and still is.

Unfortunately, I'm not playing with 2003 dollars...

To this day, it's the only time I have ever asked him what he made.

That was a boat load of money back then…

 

[waspocrew]

I’ve been out of medical training for about 2 years now. Finally making good money, but it took a long time. Undergrad took 5 years, 4 years for med school (lived off loans), 4 year dermatology residency and a 1 year Mohs micrographic surgery fellowship ( made just enough to just cover living for myself, wife and 2 kids).

I have about 100k in student loans left to pay off at this point. The tax man is the problem though - sure seems he takes A LOT.

 

[rogerdoger]

I have finally made it close to that 100k mark, unfortunately the area I live now requires 200k to make any headway.

 

[Pickettpuncher]

We do ok. My wife recently had to make a career change and lost around $20k in salary. Probably cut 15-20% of our earnings. We’re gonna be fine. We don’t live above our means. We save 10%. Should pay my truck off 3 years early. House will be paid off early. We just don’t have the extra fluff like a lot of folks do. We also don’t live in a high cost of living area, but if the west coast people keep moving in it won’t take long and we’ll be at the poverty levels.

 

[gabenzeke]

Money is relative. I've found the more I make the more I feel like I need to increase it.

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[donsm70]

Twenty years ago I thought $100K was the answer. That certainly does not seem to be the case these days.

 

[jeager510]

Key is to invest and have your prior invested earnings grow and contribute earnings that allow you to free up time for family and pursuits.

 

[Ross]

Many variables go into that question? Too many want it all too soon and don’t plan, nor have patience.

 

[Tbonespop]

It doesn't really matter. What I've found out in life is this, there will always be someone out there less talented, less hard working and less deserving making more money than you. Focus on the "gain" and not the "gap" (meaning where are you financially now compared to where you used to be versus where are you now versus others).

 

[Marble]

People wonder why folks get creative with tax planning and try to find loopholes… this is why. All the hard work and it feels like you take two steps forward, 1 step back some days

It pretty disgusting how we get taken advantage of.

Annually, my dad makes between 700-800k. A regular salary of a CEO, I'm the president and we make about the same salary wise. But he owns the properties the business locations are on and takes in $35k monthly. He has to pull dividends each year just to pay taxes. It's just crazy.



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[Geewhiz]

I live in an area where over the course of the last 5 years, housing prices have increased 73.5%. Those 2-4% raises per year don't come close to making up that kind of difference, even when making over 100k/year. I feel for some of you guys because Idaho was close to 92% increase.

When I was house shopping 6.5 years ago I looked at a house listed for $190k. It is now back on the market for $409k and it will likely sell for close to that. You’re right when you say the “cost of living” raise doesn’t even come close to keeping up.

 

[Jbuck]

I'd say it depends on what you want.

When I was younger and willing to put work first and family a distant second I made decent money. Worked hard and traveled upto 300 days a year.

Now I have a job making 70% less, but family is a priority and I seem to have the same money on the bank. I joked with my boss that I wrote checks to the IRS for more then my annual salary when I started. Quality of life is better and I'm still able to put 25% gross into retirement. Wife also works and puts close to the same % into retirement.

My grandpa tried sit me down and explain it wasn't how much you made, but how much you saved. I wish I would have understood that sooner.

That said we are now borderline living wage on the MIT calculator.

 

[Hnthrdr]

We do ok. My wife recently had to make a career change and lost around $20k in salary. Probably cut 15-20% of our earnings. We’re gonna be fine. We don’t live above our means. We save 10%. Should pay my truck off 3 years early. House will be paid off early. We just don’t have the extra fluff like a lot of folks do. We also don’t live in a high cost of living area, but if the west coast people keep moving in it won’t take long and we’ll be at the poverty levels.

Coastal money is what rocked CO’s housing costs…

 

[manitou1]

It really is dependent on geographic area.
You can live pretty darned good on $100k in rural Missouri or Arkansas.
It'll take 50% more than that in rural Wyoming.

East or West coast and you need 2-2 1/2 times that... at least.

 

[Idahobugler]

Living in the west has gotten expensive, been here my whole life. Thankfully my line of work salary has gone up I make comfortably 120-150 a year wife makes about the same wouldn’t say we’re killing it but we also enjoy life and don’t pinch every penny.

 

[Loo.wii]

In my field, as an associate (non-owner) veterinarian, I believe I'm way above the national average. My W-2 says I made $204k in 2024 and I've increased each year since being started at a base salary of $65k + production in 2014 after graduation. I'm thankful and fortunate that I paid my nominal Vet school student loans off the week after I graduated. I work with a couple of DVMs with $350k+ in student loans and have no end in sight. Much different ROI compared to physicians.

Now that's a eat what you kill salary (22% commission). After taxes, health insurance (wife and 3 kids), seems like much less, probably in the ball park of $50-60K less. Work 4 days a week and average 50-55 hrs per work week.

My wife owns her insurance brokerage business with 2 partners and has been in business for 3 years. They're going gangbusters and she'll most likely exceed me this year. Once she's making a good 1-1.5x what I'm making, I think I'll try to go out on my own. Tired of having corporate goons tell me what to do and how to practice. As a practice owner, sky is the limit on earnings.

10/10 don't think I would recommend this profession for most folks, and definitely not my children.

Glad to see you here dude
Your post from a few years back helped me get started in hunting