These days, with the state of the world economy/inflation....you can't live as comfortably with 100K anymore. So 6 figures, is not the same as it was a couple years ago.
and yet there are people living comfortably on 50k?
These days, with the state of the world economy/inflation....you can't live as comfortably with 100K anymore. So 6 figures, is not the same as it was a couple years ago.
These days, with the state of the world economy/inflation....you can't live as comfortably with 100K anymore. So 6 figures, is not the same as it was a couple years ago.
I would also like to mention that for some of us, a salary of 80-100K a year is not feasible, because...we went to Case for dental school and will be paying off 300,000 in loans for the next 30 years. If I want to NOT live in a box, I need to be making much more than that.
Yep -- we bought a house last May. Mortgage/taxes/insurance = < 900/month, which is less that 15% of our gross pay.Have you ever tried to finance a home?
This is just a guideline -- it does not take into account lifestyle. Just because you make $100,000 per year does not mean that you're going to spend twice as much on food, clothes, etc. as a family that makes $50,000/year. If you are moderately frugal, you could easily make it in most areas of this country with $100k take-home and $300k in loans.Mortgage companies advise that your total debt to income ratio not exceed 36%
I'm currently in a similar situation (I, too, am an engineer changing careers). My husband and I feel as though we're rolling in the $$$. We don't really desire many material things and I'm a coupon clipper/grocery game player. This helps us put well over $20k/year in retirement savings right now. But, again, this is a lifestyle choice.I used to make just over $100k combined with my wife and I lived in a town in west texas with an extremely low cost of living
And in response to your second comment, good luck buying a house that isn't in need of serious work in the Cleveland area for a payment of 900/month. I pay that much in rent. Taxes here are outrageous to pay for all the welfare, as it is the poorest city in the country. I don't know where you live, but it seems pretty cheap!!
I graduated from dental school this last year and I am earning less than $20,000 per year. I have three classmates in a similar situation. About 25 of my classmates aren't breaking 40,000. One of my classmates even worked construction following graduation until he got a job in a public health clinic.
This is shocking because student loan for dental program is the most ridiculous vs any other careers. I am a PA and want to go back for dental school in the future. My brother and his gf are applying right now.I graduated from dental school this last year and I am earning less than $20,000 per year. I have three classmates in a similar situation. About 25 of my classmates aren't breaking 40,000. One of my classmates even worked construction following graduation until he got a job in a public health clinic.
This is shocking because student loan for dental program is the most ridiculous vs any other careers. I am a PA and want to go back for dental school in the future. My brother and his gf are applying right now.
Is it getting better for you?