5 ms·

with 75k you'll have a hard time doing anything else than renting, some saving/investing ... buying a house f.x. will come with a long-term commitment and the s

with 75k you'll have a hard time doing anything else than renting, some saving/investing ... buying a house f.x. will come with a long-term commitment and the stress resulting from owing money. not sure how far you get with 75k in the US. in Germany you won't be able to do much. so, obviously earning more will make life better. somewhere north of 100k one will be able to buy a house with tolerable risk, a car etc. below that - possible but difficult and risky. 75k means either enduring that stress or accepting having to rent forever - which is also a stressful prospect for a couple of reasons.

121789 6y ago
This is really regionally dependent. It would be extremely difficult to do 75K in the bay area or many parts of the northeast. Very easy in many parts of the southeast and midwest. Regardless, I think the point of 75K is that it's the threshold where you are generally confident that you can start thinking about future planning rather than immediate needs. Yes you still have to rent, think about budgeting, and be a bit cautious in spending, but at least you know that the basics of living are covered.
curryst 6y ago
Outside of major cities in the US, it's enough to live comfortably alone. I made a little less than that when I lived in the Midwest, and it was enough to buy a $125,000 duplex (mortgage came out to ~25% of my monthly wages), pay the bills, and still go out and have fun a couple nights a week. I made retirement contributions, but I wasn't maxing out my 401k contributions or anything. I would say for much of the US, that's about where life becomes comfortable if you're single (can't comment on with kids, I've never done a budget with them). Bills aren't a worry if you don't make poorly planned large purchases, you can afford a decent place to live, and you've got some money left over at the end of the month to save or work on a hobby or whatever. This is obviously not true in the hot cities, though. I think $75k is under the poverty line if you have children in the Bay Area.

121789 6y ago

This is really regionally dependent. It would be extremely difficult to do 75K in the bay area or many parts of the northeast. Very easy in many parts of the southeast and midwest. Regardless, I think the point of 75K is that it's the threshold where you are generally confident that you can start thinking about future planning rather than immediate needs. Yes you still have to rent, think about budgeting, and be a bit cautious in spending, but at least you know that the basics of living are covered.

curryst 6y ago

Outside of major cities in the US, it's enough to live comfortably alone. I made a little less than that when I lived in the Midwest, and it was enough to buy a $125,000 duplex (mortgage came out to ~25% of my monthly wages), pay the bills, and still go out and have fun a couple nights a week. I made retirement contributions, but I wasn't maxing out my 401k contributions or anything. I would say for much of the US, that's about where life becomes comfortable if you're single (can't comment on with kids, I've never done a budget with them). Bills aren't a worry if you don't make poorly planned large purchases, you can afford a decent place to live, and you've got some money left over at the end of the month to save or work on a hobby or whatever. This is obviously not true in the hot cities, though. I think $75k is under the poverty line if you have children in the Bay Area.