What's a decent annual income?

[Adrenaline]

In your opinion, what's a decent annual income?

I think if you're single, making 150k a year is more than enough to do just about anything you'd like, and if you have a family of 4, making about 250k a year is pretty good. In both situations you'd have enough to pay for your mortgage/rent, food, clothes, entertainment, restaurants, travel and still have enough left over to save. You won't be rich, by any means, but you'd have enough to do what you want.

 

[Toguy54]

That's a question that changes with circumstances and your desires. I don't think gathering other's thoughts on the right amount will help you at all to determine what you will be happy with.

 

[dreamblade]

In your opinion, what's a decent annual income?

I think if you're single, making 150k a year is more than enough to do just about anything you'd like, and if you have a family of 4, making about 250k a year is pretty good. In both situations you'd have enough to pay for your mortgage/rent, food, clothes, entertainment, restaurants, travel and still have enough left over to save. You won't be rich, by any means, but you'd have enough to do what you want.

I don't want to come across as rude, but you're seriously disconnected from reality if you need 150k. I was able to do most of the things you described when I was making 40k.

There are families that survive on 30k, btw. Sure they don't have a large appartment, and if they have a car it's an old beater, but they make do.

Anyone making 80k and above as single income is in the upper financial bracket.

 

[Adrenaline]

That's a question that changes with circumstances and your desires. I don't think gathering other's thoughts on the right amount will help you at all to determine what you will be happy with.

oh I know, I'm just interested in what other people have to say, and reading different opinions.

 

[Tangwhich]

In your opinion, what's a decent annual income?

I think if you're single, making 150k a year is more than enough to do just about anything you'd like, and if you have a family of 4, making about 250k a year is pretty good. In both situations you'd have enough to pay for your mortgage/rent, food, clothes, entertainment, restaurants, travel and still have enough left over to save. You won't be rich, by any means, but you'd have enough to do what you want.

What you're describing are awesome salaries, not decent ones.

 

[onthebottom]

Define decent.

OTB

 

[SecretRendezvous]

Define decent.

OTB

Exactly?

Some people on welfare live off of only 10K a year.

 

[Adrenaline]

By decent, I mean "good", whatever that means. This thread turned out to be pretty useless.

 

[afterhours]

I don't know about annual one, but if you define decent as being able to not think about how much you spend on a girl you are with, then your hourly income ought to be somewhere near what the SPs make.

 

[Rockslinger]

We had a poll on this earlier this year.

BTW: I did a calculation of my income year to date a few days ago. I CAN'T BELIEVE I SURVIVED ON SO LITTLE.

 

[Prof. Plum]

By decent, I mean "good", whatever that means. This thread turned out to be pretty useless.

"Good" in this sense is a relative term. I get the sense that what may be "good" to me would be a big pay reduction to many members.

Age also plays a part in it. Somebody in their 20's can't expect to make as much as somebody who has been at it for 30 years.

 

[Stoo]

I make what I consider a "decent", but far from "huge" income. I'm always amazed when I read stats that put me in the top 1% of Canadian wage earners.

Presumably this is because the wealthiest Canadians don't earn their incomes from "wages" but from investments...

 

[AJstar]

Exactly?

Some people on welfare live off of only 10K a year.

Not one of your girls would settle for 10k as being decent. Let's not get too socialist here. Be honest. Anything under 100k would be tough to live middle class and expect to hobby.

 

[Mia.Colpa]

This thread turned out to be pretty useless.

That's a pretty good assessment.

Do you live in New York thinking $150k and single is what you need to earn for those activities? As others mentioned, depends on your age and stage in life, size of family to support, needs, etc...., so I agree with you, useless thread.

 

[tboy]

Exactly?

Some people on welfare live off of only 10K a year.

which is wrong on so many levels......

 

[havingfun]

Expenses for a VERY comfortable income (the income I dream of):
6 SPs per week @ $250 each = $78,000 per year
Travel (3 lousy weeks of vacation @ $300 per day plus airfare) = $8000
Housing (nice two bedroom condo - rented) ($2000 per month) = $24,000
Other living Expenses ($3000 per month) = $36,000
Total per year: $146,000 (after taxes = about $240,000 before taxes)

Expenses for a DECENT income (for many years I used to make this income)
6 SPs per month @ $250 each = $18,000 per year
Travel (same as above) = $8000 per year
Housing (nice two bedroom apartment) ($1500 per month) = $18,000
Other living expenses ($2500 per month) = $30,000
Total per year: $74,000 (after taxes = about $120,000 before taxes)

I used to make a "decent" income. I didn't give much thought to how I spent money. I now live on less than a "decent" income. I am still comfortable but I have to be careful on how money is allocated.

 

[SecretRendezvous]

Not one of your girls would settle for 10k as being decent. Let's not get too socialist here. Be honest. Anything under 100k would be tough to live middle class and expect to hobby.

I am not talking about my girls. I am talking about a single mom with 2 kids living in geared to income housing getting only 10K on her T5. I know this because I did her taxes.

She makes it work, but I don't know how? I know I couldn't live off that little.

Also - hobbying is not necessity.

I am just asking the same as everyone else - what is "decent"? Because to that single mom, anything over 20K is rich people livin'......

 

[onthebottom]

By decent, I mean "good", whatever that means. This thread turned out to be pretty useless.

Probably due to the quality of the question...... decent is not a very insightful term in this case...

OTB

 

[onthebottom]

I had a friend buy a house in a distressed but historic area of Dayton OH for 35k..... had 4 bedrooms and two baths.... I told her that showed me I'd never be homeless......

location location location.....


OTB

 

[Adrenaline]

Exactly?

Some people on welfare live off of only 10K a year.

I don't think 10k a year is decent according to anyone. The poverty line is at 20k, so 20k is not decent either.

If you live in Toronto, making 50k a year will be enough to live on, but I wouldn't call that decent either since you won't be able to save, and you won't be able to enjoy anything above and beyond the bare necessities, it's an expensive city to live in.