How is $120,000 a year not ballin?

[Krispy1]

$120k a year with a family to support = scraping by

huh are u crazy "scraping by"

LOL most familys of 4 live off 80k a year 120 is enough for a family to be very comfortable

[Tacomaster]

docs make way more than that.

This..I always thought General Practitioners/Family Doctors/General Internists made 160k+.
but malpractice is getting bad..with taxes and paying off student loans..it really makes a cut in how much the doctors actually get for themselves.

[RAVENS EYE]

That's real money and with todays economy your lucky to find it. Even with all the degrees most put themselves in the hole for, their still lucky to find something over 50k a year. I live in MS, cost of living is lower here. If you go to larger cities, the cost goes way up generally.

[millionair]

ballin' is where you can go out and buy a new boat, denali on 22's, and order a bottle of don in the club without being phased.

120k a year is comftorable though.

[arn710]

If you can't support a family, even one with 4 kids, on 120k/year you suck at managing money.

kids are expensive bro

[Jim Jitsu]

Teary-eyed college students who think they'll make so much as 50k out of college...

I lol'd when they end up making 23k/yr

I make 50k and I just graduated last May.

Majored in communications...

[W1LLW]

i can see 120k not bein **** if youre hoping to own anything in LA

[GMayne]

I make 50k and I just graduated last May.

Majored in communications...

That's what I'm saying, a lot of people (mostly) won't make that much. I majored in Cultural Anthropology and starting off at 55k (no e-brag).

But a lot of "business" or whatever students think they'll make WAY more than that, but to their disappointment won't be able to find anything past entry-level type of positions.

[kewd]

$120k a year does not go as far as some people think it does.

After taxes (in Toronto, at least) you're looking at like $70k.

If you want to get a decent house I would recommend saving $25k a year, so you're down to $45k net.

A nice place to live ~ $1,800 a month rent ~ $21.6k, leaving you with $23.4k. Which is just under $2k per month for expenses. Throw in $1,500 per month on food and you're basically left with $500 a month; which means if you really want to save and be responsible you can't really afford a car, nor do stupid things like bottle service at a club or anything.

Of course, you could NOT save that $25k per year but then you're an idiot.

[W1LLW]

huh are u crazy "scraping by"

LOL most familys of 4 live off 80k a year 120 is enough for a family to be very comfortable

my dad raised us (a family of 9) off like 40 or 50k a year, that was in the early 90's though, people started gettin older and movin out so it eased up the pressure on him

[azumi121]

docs make way more than that.


In my office, IT project managers/security make 117k and up

http://www.payscale.com/research/US/...Degrees/Salary

[Krispy1]

kids are expensive bro

only if u are dumb

if u have 120k a year u can easily raise kids comfortably

otherwise if your spoiling your kids and buying them everything they want....seems that your money management would be the problem not the amount of money itself

[Jim Jitsu]

That's what I'm saying, a lot of people (mostly) won't make that much. I majored in Cultural Anthropology and starting off at 55k (no e-brag).

But a lot of "business" or whatever students think they'll make WAY more than that, but to their disappointment won't be able to find anything past entry-level type of positions.

All depends on your work ethic and personality in my opinion. Its about marketing yourself and networking.

[BuschWolff]

$120k a year does not go as far as some people think it does.

After taxes (in Toronto, at least) you're looking at like $70k.

If you want to get a decent house I would recommend saving $25k a year, so you're down to $45k net.

A nice place to live ~ $1,800 a month rent ~ $21.6k, leaving you with $23.4k. Which is just under $2k per month for expenses. Throw in $1,500 per month on food and you're basically left with $500 a month; which means if you really want to save and be responsible you can't really afford a car, nor do stupid things like bottle service at a club or anything.

Of course, you could NOT save that $25k per year but then you're an idiot.

$50.00 dollars a day on food seems a little high

[kewd]

$120k a year does not go as far as some people think it does.

After taxes (in Toronto, at least) you're looking at like $70k.

If you want to get a decent house I would recommend saving $25k a year, so you're down to $45k net.

A nice place to live ~ $1,800 a month rent ~ $21.6k, leaving you with $23.4k. Which is just under $2k per month for expenses. Throw in $1,500 per month on food and you're basically left with $500 a month; which means if you really want to save and be responsible you can't really afford a car, nor do stupid things like bottle service at a club or anything.

Of course, you could NOT save that $25k per year but then you're an idiot.

And if you throw in kids it becomes really hard... you basically need to reduce your retirement savings big time and delay getting a house by about 4 years.

[Nutella!]

I dont get the whole NYC thing either.. unless you live in a really nice condo in manhattan. Otherwise you should be fine.

most of you probably live in the suburbs <20 miles from NYC too.

[arn710]

only if u are dumb

if u have 120k a year u can easily raise kids comfortably

otherwise if your spoiling your kids and buying them everything they want....seems that your money management would be the problem not the amount of money itself

Of course you could. People raise kids on government assistance

That's not the point of this thread though is it. Try rereading the thread title

[OTG]

$120k a year and single = really comfortable

$120k a year with a family to support = scraping by

You're retarded if your gonna scrape by with a family on $120k

[therocuno]

not ballin' in Cali brah! Still be livin' in an apartment brah, a nice one tho. Your ballin' when you got the million $$ crib and the $100K ride brah. Need to be at about $250K

[gixxer0.6g]

500k house = $3,000 / month
2 $40k cars = $1,200 / month
Misc Bills = $1,000 /month
Food for family = $1,500 / month
Misc = $$2,000 / month

Total Budget = $8,700 / month

120k/yr = $85,000/ yr net = 7,000 month take home.

Pretty easy to see how easy it is to live beyond $120k/year

For your time;

[eternalone423]

No e-brag but I'm at 60k year in the south and I'm stupid comfy right now. I haven't been broke in a very long time.

If I had double my income... OH LAWD

[kewd]

$50.00 dollars a day on food seems a little high

Here's my day.

Wake up and grab a sandwich ($3). 10am I'm grabbing a protein shake $7. Lunch is about $8-$14, unless I eat at a nicer place in which case it's $30.

So that's $20-$40 and I'm not even through the day. If after work I go for dinner and drinks with friends, that's another $40-$120, if I grab a quick bite I'm still looking at $10-$15.

Life is hard when your mom doesn't cook for you.

[TrentAM]

Anyone know the AVG income of a household down in FL around BOCA? Feeling lazy, do not want to google.

Small reps given

[Krispy1]

Of course you could. People raise kids on government assistance

That's not the point of this thread though is it. Try rereading the thread title

yea im not responding to the thread title im responding to you saying 120k is not enough to properly raise a family.

120k a year is not balling, most definitely not if u have a family. but none the less you will be middle class and be able to raise a family

[fecalneek]

factor in where you live and it might not be ballin. i know in some of the cities around me 120k makes you middle class, hell people with 200k consider themselves middle class. i guess if you're supporting a family and you never spend money on extravagant things it could be a lot though, still paying college tuition for kids will be another burden depending on where they go.

[DejaBlue55]

That's a lot of money, dude.

[HydroShake]

120k i could live a real comfortable life.
probably save up in a few years and open a gym.
even in nyc 120k is real good, unless you live in manhattan or something which you shouldn't be anyway if you make less than 200k a year.

[lizzylamb]

After tax?

[gizzmoJ]

Here's my day.

Wake up and grab a sandwich ($3). 10am I'm grabbing a protein shake $7. Lunch is about $8-$14, unless I eat at a nicer place in which case it's $30.

So that's $20-$40 and I'm not even through the day. If after work I go for dinner and drinks with friends, that's another $40-$120, if I grab a quick bite I'm still looking at $10-$15.

Life is hard when your mom doesn't cook for you.

probably the dumbest fckin post in this thread lol.

notsureifsrs

[Jim Jitsu]

500k house = $3,000 / month
2 $40k cars = $1,200 / month
Misc Bills = $1,000 /month
Food for family = $1,500 / month
Misc = $$2,000 / month

Total Budget = $8,700 / month

120k/yr = $85,000/ yr net = 7,000 month take home.

Pretty easy to see how easy it is to live beyond $120k/year

Where I'm from, a 500k house is pretty damn nice (suburbs of Chicago - Arlington Heights).

I suppose you might not be "ballin" but damn dude, who needs to buy two 40k cars? You can cut out a lot right there. If your wife works too, then you have double your income (hopefully).