To maintain our lifestyle, which is frugal on a daily basis but includes occasional travel to visit family abroad, we need around 120K annually for a family of 4.

Anonymous wrote:I don't want 6-figures op.

I want 7-figures. Good enough?

I was about to reply with this but you beat me to it!

Does anyone else think this is kind of a dumb question?

because it's damn expensive to live a comfortable life and have enough to retire comfortably and pay for your kids' college. I grew up lower/middle class. I'd rather not go back to struggling financially. And I like living where I do where the COL is high. The places that have a low COL are not places I want to live in.

^^^^ paycheck is the dumbest way to make money

It's not how much you make

It's how much you accumulate.

Anonymous wrote:I don't want 6-figures op.

I want 7-figures. Good enough?

This. 6 figures doesn't cut it anymore

Bc I went to school for a lot of years and I worked hard and the goal/payoff to that was making money?? I remember back in 1998 as a high school senior thinking — the goal was six figures, no less than that — given how hard I worked, how much my parents were paying and the loans I took for an ivy. I honestly don’t understand why people (without independent wealth) don’t have the same goal?!

Why not???

Childcare for two kids requires 100k pretax income right there

Just to afford astronomical food prices! I’m not going to feed my kids solely ramen and rice a roni, and food costs seem to go up yearly. Also—to afford activities for my kids. I grew up poor and did no sports, no instruments, nothing besides school and I think I missed out on a lot. Having 6 figures helps us afford a house in a good school district plus the above.

I don't want 6-figures op.

I want 7-figures. Good enough?

I'm not money hungry, generally. But I do want a secure retirement, emergency fund, and good health insurance. I think $100,000 is pretty helpful making those things happen. It gets significantly harder on a lower income. Not impossible. Just harder.

The cost of living expenses are high, children are expensive if you want to raise them properly, investing for old age, money for medical emergencies.

What will 6 figures give you?