$100 an hour isn’t much anymore

[Anonymous]

Someone I know is making $100 an hour and still getting by paycheck to paycheck, do we need a 500k a month to be okay? Not be poor ?

[Anonymous]

Odd, I make a third of that and I'm doing very well. I have an emergency fund, save aggressively for retirement, and want for nothing. Maybe get your friend a book on getting their spending under control.

[Anonymous]

All depends on what type of lifestyle you want to lead. You can make $100/hr and not live paycheck to paycheck but there are concessions to do it.

[Anonymous]

Depends what they're doing. Contractor getting paid by the job may not log 2000 hours a year plus has overhead. W-2 employee should be making $200K+.

[Anonymous]

They have a spending issue.

[Anonymous]

Anonymous wrote:They have a spending issue.

Or high housing costs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They have a spending issue.

Or high housing costs.

...which is a spending issue.

[Anonymous]

What are you spending???

[Anonymous]

They

[Anonymous]

Everybody needs to figure out their fixed costs over the month.

For our family it’s about $7000 and that’s high. It was lower but we had a mortgage increase due to taxes and insurance rising, and it’s been 2y since our home purchase, so they finally used the higher updated value to assess.

That’s your living wage. We could technically get by on 84k, needing a little more for the good stuff in life.

No you do not need $500k unless your fixed costs are $41k per month.

[Anonymous]

Sounds like this "someone you know" is a wholly irresponsible moron, OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They have a spending issue.

Or high housing costs.

That is a spending issue

[Anonymous]

They can make $200 an hour and live paycheck to paycheck. People upgrade their lifestyle right after starting to make good money. This leads to living paycheck to paycheck or even debt if they overdo.

[Anonymous]

It’s $200k a year. Sound be plenty for most people.

[Anonymous]

When we got married we were making about $50,000 combined and we were doing fine. As our incomes grew our spending didn’t. If you can’t live ok on $100 an hour you have a problem.