I make about 135K but I’m 40. I feel wealthy. But my family/friends/girlfriends all think I’m living barely above poverty level and tell me that I am a ‘not doing well at life’ or claim ‘you lack any drive for success at life.’
I feel like income needs to be divorced from spending and wealth. If you’re not in want and can save with your salary, you’re wealthier than someone with four times your income and yet is still drowning in debt.
You might just have “the wrong friends”. Not really wrong, but theres a certain kind of personality where theres no such thing as enough.
You have to be gunning for the next promotion. You have to be monitoring your index funds. You have to be considering switching financial advisors. You have to be finding a way to monetise your hobby. You have to follow the trends to make sure you have the car that says you’re the man for the job. You cant just buy one house to live in, you have to start a portfolio of properties.
I would feel extremely wealthy with 135k. That’s 250% of my salary, and I already feel like I’m able to save a bunch each month. You must live in a big city to make that much, if you’re just an employee.
nah most people in my city think making 250K a year is ‘barely getting by’ like that other poster. our local subreddit would have posts claiming that a single person needed a minimum of 200K+ to be ‘comfortable’. I was ‘comfortable’ living here on 50K (savings, retirement, healthcare, going out regularly, etc)… and that was only 6 years ago. and tons of people who were making 500K a year screaming how unfair and impoverished they were because they couldn’t afford 40ft boats or seven figure homes on the water. and getting heavily upvoted.
by buy ‘barely getting by’ they usually mean a giant suburban house, two luxury cars, expensive vacations, and a second home. people seem to think anyone who isn’t a millionaire by 35 is a failure at life. a lot of the people I meet often make same/less than me buy spend WAY more than I do. Like 15K on traveling per year easily.
I grew up poor though. I didn’t grow up in a big rich suburban house w/ a vacation home… like many people who live here and feel poor.
I don’t think you would feel wealthy at that level. You would quickly find many things to spend the extra money on and so you would still be just as short at the end of the month. You wouldn’t notice a bigger house, nicer car (the most likely things to spend the money on), or whatever else you buy. You might save a little more, but you would find plenty to spending money on - just like everyone else.
The worse case would be if you income suddenly jumps that much - the vast majority who that happens to spend more than the change thinking they don’t have to worry.
At some point everyone does hit a limit where they no longer can think of anything more to spend money on. That point is different for everyone, but I suggest it is probably more than 10 million/year. (even your big name CEOs mostly don’t make that much!)
Maybe the average person. I am extremely good at saving money and have several programmed spreadsheets dedicated to my family’s budget, even after my salary jumped significantly.
I practically doubled my life savings this week after inheriting some of my grandmother’s money. Straight to savings! ☝️🏦
But yeah, I can see it happening to the average person.
Good for you. Just don’t forget that money saved when you die was wasted time at work when you could have retired early. Of course you don’t know how long you will live so some leftover is guarenteed - but don’t overdo it (unless work is you life I guess)
By the statistics, I’m pretty sure that puts you in the top 10%, at least. Edit: Nah, just top 20%, at least as a household.
The thing is that until they literally own a private jet most people will assume they’re average or middle class (even in this thread). It’s like a psychological defense. You’re probably getting information out of a bubble.
Seems wealthy to me, but I guess it all depends on circumstances. Probably wouldn’t be wealthy if you have to support a large family and live in Silicon Valley.
I make about 135K but I’m 40. I feel wealthy. But my family/friends/girlfriends all think I’m living barely above poverty level and tell me that I am a ‘not doing well at life’ or claim ‘you lack any drive for success at life.’
It’s weird af.
I feel like income needs to be divorced from spending and wealth. If you’re not in want and can save with your salary, you’re wealthier than someone with four times your income and yet is still drowning in debt.
You might just have “the wrong friends”. Not really wrong, but theres a certain kind of personality where theres no such thing as enough.
You have to be gunning for the next promotion. You have to be monitoring your index funds. You have to be considering switching financial advisors. You have to be finding a way to monetise your hobby. You have to follow the trends to make sure you have the car that says you’re the man for the job. You cant just buy one house to live in, you have to start a portfolio of properties.
It sounds properly exhausting.
I would feel extremely wealthy with 135k. That’s 250% of my salary, and I already feel like I’m able to save a bunch each month. You must live in a big city to make that much, if you’re just an employee.
where i live people think anything less than 500k/yr is not doing well.
That’s absolutely insane. That’s almost my yearly income every month. Disgusting amounts of money lol.
But that kind of cash is surely not expected of an employee, right? That’s CEO of a small to medium sized company kinds of cash.
nah most people in my city think making 250K a year is ‘barely getting by’ like that other poster. our local subreddit would have posts claiming that a single person needed a minimum of 200K+ to be ‘comfortable’. I was ‘comfortable’ living here on 50K (savings, retirement, healthcare, going out regularly, etc)… and that was only 6 years ago. and tons of people who were making 500K a year screaming how unfair and impoverished they were because they couldn’t afford 40ft boats or seven figure homes on the water. and getting heavily upvoted.
by buy ‘barely getting by’ they usually mean a giant suburban house, two luxury cars, expensive vacations, and a second home. people seem to think anyone who isn’t a millionaire by 35 is a failure at life. a lot of the people I meet often make same/less than me buy spend WAY more than I do. Like 15K on traveling per year easily.
I grew up poor though. I didn’t grow up in a big rich suburban house w/ a vacation home… like many people who live here and feel poor.
Sounds like an absolutely insufferable place to live. WTF lol
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Must be a very high cost of living area. I make less and am definitely comfortable.
I don’t think you would feel wealthy at that level. You would quickly find many things to spend the extra money on and so you would still be just as short at the end of the month. You wouldn’t notice a bigger house, nicer car (the most likely things to spend the money on), or whatever else you buy. You might save a little more, but you would find plenty to spending money on - just like everyone else.
The worse case would be if you income suddenly jumps that much - the vast majority who that happens to spend more than the change thinking they don’t have to worry.
At some point everyone does hit a limit where they no longer can think of anything more to spend money on. That point is different for everyone, but I suggest it is probably more than 10 million/year. (even your big name CEOs mostly don’t make that much!)
Maybe the average person. I am extremely good at saving money and have several programmed spreadsheets dedicated to my family’s budget, even after my salary jumped significantly.
I practically doubled my life savings this week after inheriting some of my grandmother’s money. Straight to savings! ☝️🏦
But yeah, I can see it happening to the average person.
Good for you. Just don’t forget that money saved when you die was wasted time at work when you could have retired early. Of course you don’t know how long you will live so some leftover is guarenteed - but don’t overdo it (unless work is you life I guess)
Sure. But I also have kids, so any money I save also goes to them upon my death, and/or my grandkids if I will have any. But thanks for the tip.
By the statistics, I’m pretty sure that puts you in the top 10%, at least. Edit: Nah, just top 20%, at least as a household.
The thing is that until they literally own a private jet most people will assume they’re average or middle class (even in this thread). It’s like a psychological defense. You’re probably getting information out of a bubble.
If you want to control for age, $135K/year at 40 is the 83rd percentile for individual income in the US.
https://dqydj.com/income-percentile-by-age-calculator/
Nice! Actually, I wonder if my source was using post-tax income, as well. Although OP didn’t specify.
Seems wealthy to me, but I guess it all depends on circumstances. Probably wouldn’t be wealthy if you have to support a large family and live in Silicon Valley.
America? What city do you live in, that’s a great salary.
Just ignore them and enjoy life
So just never socialize with anyone?
That’s not what I said