What will the avg salary be in 20 years? 20 years ago 1-12 dollars an hour was good money for the common man.
It seems like the minimal salary figures are not moving up as fast as the cost of living....at some point a lot of people are going to be in trouble, no one saves money, generally speaking (which I can't believe)
It seems like the rich are getting farther and farther away from the lower middle class...I don't know how some of these people do it.
It seems like the minimal salary figures are not moving up as fast as the cost of living....at some point a lot of people are going to be in trouble, no one saves money, generally speaking (which I can't believe)
It seems like the rich are getting farther and farther away from the lower middle class...I don't know how some of these people do it.
40k is the equivelant of $20/hr, pretty fair pay, about what a postal worker makes, most folks make under $20/hour, unless they have degrees in something useful. 40k a year is a dream for many. A lot depends on where you live, as well. 40k in SF or Honolulu would suck, but do nicely in Kansas, Nebraska, NC,etc.
Do you think having 100k set aside and making 40k is enough? I don't think that is too unrealistic for any person who applies themself and can save money.
40k though, seems a little low...I guess it depends where you live.
You have to take advantage and find ways to save , they're out there if you are creative and a little greedy.
40k though, seems a little low...I guess it depends where you live.
You have to take advantage and find ways to save , they're out there if you are creative and a little greedy.
Journeyman said:
For this area, Metro DC hell no but I wanted to get some feedback. I don't think I could ever stop working even if I was a millionaire. I would find something to own and probably operate it but that's just me. Sometimes the grind of life makes me wonder though.
I'm retired and that's less but close to what we're getting. However I control my own defined contribution pension portfolio which means I can take an increase of more than 3% COLA. My portfolio is still growing even with the regular withdrawals.
You need to look at your expenses and figure how much you need and what you need as opposed to what you want. We don't spend much beyond basics (satellite box but the TV dates to 1992), except for our discretionary spending on vacations. We travel usually at least 3 months of the year with 2 winter months in a warmer climate.
You need to look at your expenses and figure how much you need and what you need as opposed to what you want. We don't spend much beyond basics (satellite box but the TV dates to 1992), except for our discretionary spending on vacations. We travel usually at least 3 months of the year with 2 winter months in a warmer climate.
go2guy said:
I don't agree with this at all.
So long as you don't buy a house or car beyond your means 40K should be plenty...for now. Depending on how you invest the 100K you'll probably only make 5K a year or so off of it. I'm not sure what your housing situation is, but I'd consider finding a fixer upper house in a good area and doing that in your spare time...that will put the money to work for you in the short term and likely provide you with more long term growth than a CD or bonds. BOL
