How much income do you need to live well?

posted 6 months ago in The Lounge
  • poll: What pre-tax salary do you need to live well? (not household income)
    50-75k : (31 votes)
    22 %
    75-100k : (39 votes)
    27 %
    100-125k : (18 votes)
    13 %
    125-150k : (16 votes)
    11 %
    150-200k : (9 votes)
    6 %
    200-300k : (16 votes)
    11 %
    300-400k : (2 votes)
    1 %
    400k+ : (13 votes)
    9 %
  • Post # 46
    Member
    716 posts
    Busy bee

    I’ve got to say, I’m really tired of these kinds of questions and polls, especially when the OP puts out some ridiculously high figure without which she wouldn’t be content. Only serves to make people feel miserable about themselves. 

     

    Post # 48
    Member
    7905 posts
    Bumble Beekeeper

    techmom :  idk I’m kind of the opposite. Whenever I see someone who thinks they need to have the newest/best of everything in order to be happy I don’t feel miserable. I feel sorry for them. Those kind of people are prone to lifestyle inflation and they’ll never be happy because someone else always has more. 

    Post # 49
    Member
    716 posts
    Busy bee

    LilliV :  I totally agree with you. Although, while you or I may not feel miserable about posts like this, I’ve seen many posters express frustration and disappointment at their own lot as a result of these posts. 

    Post # 50
    Member
    7905 posts
    Bumble Beekeeper

    techmom :  I do find it fascinating to see how finances differ in different places though. That’s the upside of the personal finance posts! 

    Post # 51
    Member
    1981 posts
    Buzzing bee
    • Wedding: May 2016 - Sussex, UK

    LilliV :  Agree. The two wealthiest people I  know are also the most miserable despite living in country mansions and not blinking at spending £100k upwards on cars. . Yeah it would be nice to never have to even think about money but it’s definitely not where the real enrichment comes from for most people. I’d like to work a 4 day week though 🙂

     

    Post # 52
    Member
    394 posts
    Helper bee

    I live in the UK and earn a tiny figure that isn’t even on that chart, and the maximum I ever earned just scraped the bottom category! However, the higher earning came with a LOT of stress and I was only too glad to drop to earning less, but with a view to building a different and more fulfilling life. I would define living well as being able to afford nice fresh (but not fancy) food to cook (just regular stuff, but to be able to shop freely for ingredients, etc), be able to look after my car and pets without worry, and be able to top up my savings. I fortunately don’t have expensive tastes, and enjoy buying second-hand clothes, etc. Anything else is a bonus!

    Post # 53
    Member
    716 posts
    Busy bee

    LilliV :  True, although with the usual caveat that we always see skewed responses on here. 

    And it must be said that with two kids and two full time jobs, time is my family’s biggest luxury. Sigh. When I had time and little money, little did I realize how good I had it! 🙂

    Post # 54
    Member
    9213 posts
    Buzzing Beekeeper

    LilliV :  yeah, it makes me really want to move lol.

    Post # 56
    Member
    871 posts
    Busy bee

    The reality is that we want a home, security, a good life for ourselves and our loved ones, however too much emphasis on material things can actually decrease our quality of living. We start adding to the list of ‘necessities’ things that were once luxuries and before we know it, we’re losing our work/ life balance struggling to maintain this inflated list. 

    Post # 57
    Member
    2395 posts
    Buzzing bee
    • Wedding: October 2016

    cuppercake :  I avidly follow Mr  Money Mustache. Great forums, too

    Post # 58
    Member
    2395 posts
    Buzzing bee
    • Wedding: October 2016

    I’m also wondering how many designer handbags a woman needs? After a couple, it just seems wasteful. I like my mid priced furla, coach, and Kate Spade bags … even they seem wasteful if I get one too often. I tend to resale, so that helps my guilty conscience. Same with clothes. How much do I really need? Idk. Definitely less than I have. 

    Life seems better when I’m content with what I have 

    Post # 59
    Member
    469 posts
    Helper bee
    • Wedding: August 2019

    I find the talk about time as what it takes to live well to be VERY relatable. I work 38 hours a week. My time is incredibly valuable to me. I’d take a 38 hour/week job with good vacation benefits that pays $50K over a 55-60 hour/week job that pays $100K any day of the week. 

    Post # 60
    Member
    716 posts
    Busy bee

    bougainvillea :  Aw bee, I appreciate that you were genuinely curious and didn’t intend to hurt anyone. I just feel like posts such as yours contribute to an overall sense of dissatisfaction and insecurity. Sort of like ring shrinkage, people who thought they were doing okay come on here, read responses that skew high, and suddenly question their life choices. Now it’s not a rational response, but it’s an inevitably human one. 

    Also, I honestly feel like you, OP, could be setting yourself up for disappointment unless you have a clear path to get to your goals. As others have said, the things you lay out can be had for far less than you think. I think you should also perhaps think about some of the other components of ‘living well’ besides money, and you may find that you’re closer to your goal than you think. 

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