Anyone making 120k or less?

[Anonymous]

Anonymous wrote:Yes, we make $120k combined. No real bonus structure in either of our jobs. We have 3 kids. Live in a 2 bedroom townhouse so it’s cozy. We live in south Arlington in an area that commonly is discussed on here as trashy and low- rent but it’s what we can afford. Our jobs tie us to this region so no leaving. We don’t vacation more than day trips to the beach or hikes. The kids don’t really know different at this point.

I guess I should be upset we aren’t in a position to show them the world, but we have money to put food on the table and save a tiny bit each month. Though at this point buying a bigger house is likely out of the question.

No offense, but if you're making $120K combined, then you're not tied to this region by your jobs. The median income nationally for a FT worker is like $55K, so you could make at least $110K anywhere in the country, particularly in an area with a much lower COL, which would probably improve your lifestyle.

[Anonymous]

Anonymous wrote:Most people in the world, including the DMV, are making 120k or less
Get some perspective and why do you ask

+ 100, and if you still aren't convinced, click this interactive link for some serious perspective

https://wid.world/income-comparator/

[Anonymous]

Anonymous wrote:We made it work. One parent at home, older paid off cars, cheaper house that we mainly DIY and saved up to pay cash for major things like the roof. No vacations or very simple/cheaper ones. We do eat out more than we should but usually asian or fast casual. Very happy. House is paid off now as we made that a priority and now we have plenty of money.

+1

We have splurged on travel.

Both parents worked flexible jobs that allowed for school pickups and attending their sporting events.

Cheap house. Will pay it off in 2024.

Lots of savings. Drive older cars.

[Anonymous]

I make 100-110k based on bonuses. I live in a 2 bedroom rental with my husband. He made 50k this year. We never want for anything and can even splurge on some nice things every now and then. But I am sure it will change once we have children.

[Anonymous]

We have been at about 165k on two incomes. My spouse is also in education making the lower salary, and I'm a fed with PhD about to get promoted to GS13. (Wish I'd become an SEC lawyer based on this board, haha!)

The main area we feel it is in housing. We bought in 2020, being very conservative and buying a pretty small TH that we would be able to pay for on just my salary, which was 90k at the time. We intended to move up to a bigger SFH eventually. The market has gone so wild I don't think we will ever be able to, so I wish we'd stretched our budget a bit back then, it would be manageable now.

Other than that, we do ok. We have one car, two kids, and can get everything we need and most of what we want. We will be able to pay for in-state college or part of private if kids get scholarships.

We're at the point this year of feeling like we need to have a little more planning/discipline, as we've focused really heavily on maxing out retirement accounts for the last few years at 1/3 of our income, but we don't have the income to do that AND save for major home repairs/upgrades, vacations we'd like to take, and increasing charitable donations. Wondering if it's ok to pull back on retirement a little - calculators say we will be more than fine if social security still exists, but if it doesn't then we do need to save at this rate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, we make $120k combined. No real bonus structure in either of our jobs. We have 3 kids. Live in a 2 bedroom townhouse so it’s cozy. We live in south Arlington in an area that commonly is discussed on here as trashy and low- rent but it’s what we can afford. Our jobs tie us to this region so no leaving. We don’t vacation more than day trips to the beach or hikes. The kids don’t really know different at this point.

I guess I should be upset we aren’t in a position to show them the world, but we have money to put food on the table and save a tiny bit each month. Though at this point buying a bigger house is likely out of the question.

Are you striving for your kids to be more upwardly mobile than you? Are you immigrants and what are your education levels?

No, we are white. We both have college degrees. I’m a reading specialist at a school. I make $65k.

I enjoy helping kids learn to enjoy reading by giving them confidence.

I hope my kids find careers they are passionate about.

By local standards we are a failure. I get it.

You’re not a failure, you have a job that makes a difference in people’s lives. You enjoy your job. Imagine going into an office, turning on your computer and having to stare at it all day? That’s a nightmare for a lot of people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, we make $120k combined. No real bonus structure in either of our jobs. We have 3 kids. Live in a 2 bedroom townhouse so it’s cozy. We live in south Arlington in an area that commonly is discussed on here as trashy and low- rent but it’s what we can afford. Our jobs tie us to this region so no leaving. We don’t vacation more than day trips to the beach or hikes. The kids don’t really know different at this point.

I guess I should be upset we aren’t in a position to show them the world, but we have money to put food on the table and save a tiny bit each month. Though at this point buying a bigger house is likely out of the question.

Are you striving for your kids to be more upwardly mobile than you? Are you immigrants and what are your education levels?

No, we are white. We both have college degrees. I’m a reading specialist at a school. I make $65k.

I enjoy helping kids learn to enjoy reading by giving them confidence.

I hope my kids find careers they are passionate about.

By local standards we are a failure. I get it.

You’re not a failure, you have a job that makes a difference in people’s lives. You enjoy your job. Imagine going into an office, turning on your computer and having to stare at it all day? That’s a nightmare for a lot of people.

I read a Reddit thread recently asking people making between 50-100k what they do. The most common answers were blue collar work (trades, postal carrier, manufacturing-related) and socially beneficial jobs like teacher, social worker, SLP, therapist, etc. Actually pretty heartwarming, a lot of the comments were just "thanks for the work you do!"

[Anonymous]

I juuust this year exceeded $120k for the first time! Single parent, bought a SFH in a quiet but convenient corner of Columbia Heights back when I was married.
We’re doing great! I refuse to take out loans or carry a credit card balance, so I drive a *gasp* Nissan Altima I saved and paid cash for, and my kids love thrift shopping. We’re often the only white people at kid activities (yes, there’s cheap ballet/ piano/ martial arts if you aren’t a snob.) We cook 29 days out of 30 and the kids are really getting good at it.
I save for retirement. We take great vacations most years, which often involve staying with friends and in youth hostels, and park picnics most days. We’re saving now to do a photo safari in Tanzania next year.
Honestly OP, this board will convince you that anything under $400k is destitution but I promise we are happier than a large majority of people who post here. It’s all about priorities and being true to yourself.

[Anonymous]

Anonymous wrote:I juuust this year exceeded $120k for the first time! Single parent, bought a SFH in a quiet but convenient corner of Columbia Heights back when I was married.
We’re doing great! I refuse to take out loans or carry a credit card balance, so I drive a *gasp* Nissan Altima I saved and paid cash for, and my kids love thrift shopping. We’re often the only white people at kid activities (yes, there’s cheap ballet/ piano/ martial arts if you aren’t a snob.) We cook 29 days out of 30 and the kids are really getting good at it.
I save for retirement. We take great vacations most years, which often involve staying with friends and in youth hostels, and park picnics most days. We’re saving now to do a photo safari in Tanzania next year.
Honestly OP, this board will convince you that anything under $400k is destitution but I promise we are happier than a large majority of people who post here. It’s all about priorities and being true to yourself.

Congrats! Very inspiring !

[Anonymous]

This hits me as well. I just started making $125k a year as an attorney for the government. Spouse makes much more than I do in private practice, but we both work a 40 hour work week. 3 kids, none in college yet, but soon. House is paid off and we have good schools. Half my take home pay goes into the family budget, and only 20% of theirs does. which is much more than I pay, but I am able to fully fund my 401K, Backdoor Roth IRA, Treasury I Bonds, etc.. I am more flexible for kids doctor visits and sick days.

[Anonymous]

I make $90K, have 2 kids both working/college and a dysfunctional, barely employed DH. Hoping to break 6 figures this year.

[Anonymous]

$3500 rent is a lot on 100k salary... But I guess you are making it work?

[Anonymous]

I make $70k in a stable government type job. Spouse is in sales so it's variable -- in a good year $100k, in a not so good year (lately) more like $65k. We have two kids in their early teen years. I wish we could save more but we're digging ourselves out of some medical debt from Covid.

[Anonymous]

Anonymous wrote:I make 65k and spouse makes 100k.
We own our own small SFH in northern Silver Spring. 2 cars, payment on one, other we own outright. No debt other than mortgage. One kid. We’re happy, we have friends, we go on a vacation every year plus beach trips. We own a Beach condo that we rent out so it pays for itself.
Be nice to make more but I value the low stress nature of my job, it works for our family. Our kid was never in daycare for long hours or going to bed late because of work or commute. We’re good.

What work do you do? I’m making 100k but want a low stress 65k gig with insurance

[Anonymous]

Anonymous wrote:$3500 rent is a lot on 100k salary... But I guess you are making it work?

I pay $2800 and can't make it work with a $100k salary. I agree. $2000 is more reasonable with a lower salary.