What's the new "6-Figures"

10,895 Views | 115 Replies | Last: 2 yr ago by azul_rain
FIDO*98*
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11:37p, 5/15/21
AG
Just thinking about back when I was a grad and making a hundred grand was a big deal. Now days you can barely eat on 100K much less raise a family. What's the new term for a decent salary? Double 6? Quarter M?
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Texker
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11:38p, 5/15/21
AG
Unemployment benefits
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ABATTBQ11
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In reply to FIDO*98* • 11:47p, 5/15/21
AG
Not only do we (family of 3 with another one coming) eat on $100k, we manage to put some away. After all is said and done, with expenses, taxes, and 401k, we're still putting away everything my wife makes plus about $15k-$20k.
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azul_rain
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11:47p, 5/15/21
$250k
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azul_rain
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In reply to FIDO*98* • 11:48p, 5/15/21
If you can't live on $100k as a single adult you have some big issues pal
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John Francis Donaghy
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12:11a, 5/16/21
Assuming class of 98 as OP's username implies: $163,836.81, which accounts for a 63.8% cumulative inflation rate since 1998.
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Ulrich
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12:13a, 5/16/21
100k is still more than most families make, but the same relative wealth/status is probably around 200k.
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Jugstore Cowboy
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In reply to FIDO*98* • 12:55a, 5/16/21
AG
We need the wrestler, Skran, and Scimitar to answer this.
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cisgenderedAggie
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5:24a, 5/16/21
Barely eat?
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bladeag12
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7:01a, 5/16/21
AG
You are joking right? 100k is way more than enough.
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Gilligan
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In reply to bladeag12 • 7:08a, 5/16/21
AG
You haven't met my wife!
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chaca5151
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In reply to FIDO*98* • 8:04a, 5/16/21
FIDO*98* said:
Just thinking about back when I was a grad and making a hundred grand was a big deal. Nowadays, you can barely eat on 100K, much less raise a family. What's the new term for a decent salary? Double 6? Quarter K?


It sounds like someone is trying to keep up with the "Jones," maybe stop buying a bunch of depreciating assets. I thought I was balling at 80k when I was single; I had a ton of money and minimal expenses. I had fat savings account up until I got married.
Not everyone gets the same version of me. One person might tell you I have an amazing beautiful soul. Another might tell you I’m a cold-hearted a$$^ole. Believe them both. I don’t treat people badly. I treat them accordingly - unknown
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permabull
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8:16a, 5/16/21
AG
Once you are on the Hedonic treadmill, no number is going to satisfy you. I have heard people worth millions complain about how broke they are because they keep comparing themselves to even richer people.
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riverrataggie
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8:18a, 5/16/21
AG
This place has some solid cocaine habits. I'm proud of y'all.
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Howdy Dammit
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8:56a, 5/16/21
AG
Buying a house in this market, having a car payment, and contributing to your 401k completely eats up every bit of 100k
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HossAg
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10:27a, 5/16/21
AG
Pretty sure 100K is still pretty significant for young people. Just don't start a family like an idiot while you're making your starting 60K salary and you'll have plenty of money to live off of.
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Ragoo
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10:34a, 5/16/21
AG
I think 250k for a non MD or JD professional family is a modest income goal.
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azul_rain
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In reply to HossAg • 10:50a, 5/16/21
starting 60k salary, point me in that direction
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Red Rover
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In reply to Gilligan • 10:50a, 5/16/21
AG
Gilligan said:
You haven't met my wife!

Actually many of us have. Quite a few times.
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Ragoo
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In reply to azul_rain • 10:58a, 5/16/21
AG
hedge said:
starting 60k salary, point me in that direction
is 60k starting a lot these days? Engineers were pulling down 65-80 out of school 15 years ago.
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Hi, Im Brett
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In reply to Gilligan • 11:09a, 5/16/21
AG
Gilligan said:
You haven't met my wife!


she eat a lot?
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azul_rain
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In reply to Ragoo • 11:11a, 5/16/21
Here in finance we are pretty underpaid until we have a book of business. Idk what engineers pull
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TXAGFAN
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In reply to permabull • 11:14a, 5/16/21
AG
hypeiv said:
Once you are on the Hedonic treadmill, no number is going to satisfy you. I have heard people worth millions complain about how broke they are because they keep comparing themselves to even richer people.
Yup. There is always SOMEONE you know with more money and the bar is always higher - luxury car money, second home money, etc.

I'll just keep plugging away for that "retired by 45" money.
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HossAg
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In reply to Ragoo • 11:17a, 5/16/21
AG
65-80K is still pretty standard.
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azul_rain
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In reply to HossAg • 11:21a, 5/16/21
Y'all top out at like 180k ?
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Ulrich
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In reply to azul_rain • 11:33a, 5/16/21
hedge said:
Y'all top out at like 180k ?

Highest earning potential for engineers (other than switching to management, which is not uncommon) is consulting as a partner or principle.
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Swarely
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In reply to azul_rain • 11:42a, 5/16/21
hedge said:
If you can't live on $100k as a single adult you have some big issues pal


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John Francis Donaghy
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In reply to HossAg • 11:47a, 5/16/21
HossAg said:
65-80K is still pretty standard.


But still about a 30%-40% reduction in purchasing power from the $65-80k that Ragoo mentions making 15 years ago.
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HossAg
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In reply to John Francis Donaghy • 11:51a, 5/16/21
AG
Yeah it's gonna be a while before I can comfortably buy a house.
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Ragoo
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In reply to John Francis Donaghy • 11:55a, 5/16/21
AG
John Francis Donaghy said:
HossAg said:
65-80K is still pretty standard.


But still about a 30%-40% reduction in purchasing power from the $65-80k that Ragoo mentions making 15 years ago.
anyone who doesn't think inflation exists just look at the scale up of 401k contribution limits over the past 15 years.
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Proposition Joe
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In reply to permabull • 12:09p, 5/16/21
hypeiv said:
Once you are on the Hedonic treadmill, no number is going to satisfy you. I have heard people worth millions complain about how broke they are because they keep comparing themselves to even richer people.

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CharlieBrown17
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In reply to Ragoo • 12:57p, 5/16/21
AG
Ragoo said:
hedge said:
starting 60k salary, point me in that direction
is 60k starting a lot these days? Engineers were pulling down 65-80 out of school 15 years ago.



Hell, if you get stationed somewhere with a decent housing payment you make 60+ right out of college in the military. I can't imagine getting a degree and making less than that public sector.
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snowaggie
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In reply to John Francis Donaghy • 1:00p, 5/16/21
John Francis Donaghy said:
Assuming class of 98 as OP's username implies: $163,836.81, which accounts for a 63.8% cumulative inflation rate since 1998.
Even though this is the boring answer, I appreciate the research, precision and literalness of it. All it needed was a drop-the-mike-and-walk-away...
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Ulrich
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In reply to Ragoo • 1:08p, 5/16/21
Ragoo said:
John Francis Donaghy said:
HossAg said:
65-80K is still pretty standard.


But still about a 30%-40% reduction in purchasing power from the $65-80k that Ragoo mentions making 15 years ago.
anyone who doesn't think inflation exists just look at the scale up of 401k contribution limits over the past 15 years.

Hey, there's no inflation. It's just commodities, housing, food, energy, and services that are more expensive.
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Onceaggie2.0
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1:34p, 5/16/21
something like 2% of men make 100k...Only on texags is everyone a millionaire.
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