What counts as rich?

J&K10910 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:3ec99daa-9e47-459c-8633-344aec4b86e3">Re: What counts as rich?</a>:
[QUOTE]In Response to Re: What counts as rich? : Really? I've only put maybe 1k into it in ten years, runs great, currently sitting at 256k miles, and the only thing wrong with it is that the rear wiper's washer fluid doesn't spray. Part of my 101 things in 1001 days list is learning to do all my own vehicle repair.
Posted by anna.oskar[/QUOTE]

We've replaced the fuel pump twice, the rear driver's side brake calipers 3x, had a leak in the antifreeze thing, had the battery drain completely for no reason once, the air doesn't work, and the radio picks and chooses when it's going to work. And we've only put about 10k on it.

DNAtime · December 2011

In CO crossovers are really expensive, especially in resale because they are so popular( and kind of necessary if you want to go to the moutains.) A lot of people actually fly to other places to buy a car.

Except if you fly to a lot of other places you have to watch out for rust. (We don't ger rust on cars out here, much.)

JennaV26 · December 2011

I don't consider $150,000 as rich, but I define rich by making enough money each month to pay all your bills, contribute substantially to your retirement, savings and children's college accounts, and still having enough left over to go out to dinner, take vacations, etc. Also in that definition is not carrying a lot of debt, besides a mortgage.

I would kill to be making $150,000 right now, though. Heck, I'd like to be making half that. Where I'm currently living the COL is so unbelievably cheap (unless you're renting - I'm near a University) so I could make that money go a long way.

mica178 · December 2011

I wouldn't consider $150k/year rich. Comfortable in most places in the US (other than a few, select coastal cities), yes. But not rich.

We're in Tampa, where houses in sketchy neighborhoods can be $50k, but the big mansions on the coast can be 8 figures. It's hard to compete with Derek Jeter.

annakb8 · December 2011

150K is NOT rich here (even though everyone wants to believe members of Congress are rich). We make about 100K combined, and we have enough to pay our bills and travel some, but we only have one car and we are not anywhere close to being able to buy a house or afford to have kids in daycare. I think a 3bd/2ba in our neighborhood would be at least half a mil and we live in the burbs.

J&K10910 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:f2bb6f9b-e876-4fb6-b1a1-6ad08ab06a4d">Re: What counts as rich?</a>:
[QUOTE]I don't consider $150,000 as rich, <strong>but I define rich by making enough money each month to pay all your bills, contribute substantially to your retirement, savings and children's college accounts, and still having enough left over to go out to dinner, take vacations, etc. Also in that definition is not carrying a lot of debt, besides a mortgage.</strong> I would kill to be making $150,000 right now, though. Heck, I'd like to be making half that. Where I'm currently living the COL is so unbelievably cheap (unless you're renting - I'm near a University) so I could make that money go a long way.
Posted by JennaV26[/QUOTE]

I find that interesting, because I'd define that as "comfortable" and I think most people would be comfortable on $150,000k unless they had some serious debt or seriously mismanaged their money (I'm talking in a low COL living area like you and I live in).

I don't mean that negatively at all--just that it's interesting to see how differently people define things.

Blueyed228 · December 2011

150K a year isnt rich here but its not bad. You are doing really well if you are single or married with no kids and making 150 a year. But if you factor kids into that, I would still say its comfortable. But you are not rich.

We live in a nicer town in the nicest part. You can get a house in my town in the crappy part for 250K. We paid 375K and have put 150K into it. Its 3 bedrooms, 2 bathroom, and 2000 square feet. If I bought in the next town over, the same house would have been 500-600K. But I live next to some of the wealthiest towns in my state. Actually, its funny, my street turns into one of those towns about 10 houses down from mine

ETA: I would say to be classified as "rich" here, you would need to be making about 400-500k a year.

number55 · December 2011

I don't think $150k counts as rich where we are from, especially considering the taxes we pay here on that kind of income. It is enough to be comfortable but I am like J&K, I think Jenna's description is comfortable, not rich.

The city we live in was listed as the 3rd best place to live in Canada this past fall, by MoneySense (magazine? I found the article on MSN Money) but the one downfall is the housing costs - at an average house cost of $400k. And that is less than our neighbouring community (to the east) which has an average house price at or above $500k!

We wouldn't have any problem getting by on 150k in our neighbourhood but we wouldn't have much dispoable income for things like travel, and that to me really defines 'rich' - well, that an the kind of house you have (size, pool, etc...)...in our area we wouldn't get nearly what we could get elsewhere on the same income.

number55 · December 2011

I should add: we *could* move, except not really, because we currently have jobs in our area. I could probably get a job whereever because I could teach French in need be and there are never enough French teachers anywhere. But DH would have to go back to the beginning of the process and in other areas it can take up to 5 years to get a permanent position teaching. We can't risk that. So we are 'stuck' here. I love it, but I often think about the fact that we could make exactly the same amount as we do now but live 2 hours North and spend half as much to get a house.

Blueyed228 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:b55c42ff-6a14-47fb-ae55-2fb41cb1677a">Re: What counts as rich?</a>:
[QUOTE]I don't think $150k counts as rich where we are from, especially considering the taxes we pay here on that kind of income. It is enough to be comfortable but I am like J&K,<strong><u> I think Jenna's description is comfortable</u></strong>, not rich. The city we live in was listed as the 3rd best place to live in Canada this past fall, by MoneySense (magazine? I found the article on MSN Money) but the one downfall is the housing costs - at an average house cost of $400k. And that is less than our neighbouring community (to the east) which has an average house price at or above $500k! We wouldn't have any problem getting by on 150k in our neighbourhood but we wouldn't have much dispoable income for things like travel, and that to me really defines 'rich' - well, that an the kind of house you have (size, pool, etc...)...in our area we wouldn't get nearly what we could get elsewhere on the same income.
Posted by number55[/QUOTE]

I agree. We travel, have emergency money, have no debt besides a mortgage, and we are not "rich".

Anysunrise · December 2011

I'm in the 4th cheapest city to live in right now. 150k a year, even COMBINED would be more money then we'd know what to do with.

Back home, it's definitely more expensive, but not SUPER expensive, unless you want a cottage on the lake.

KaylaSue19 · December 2011

I guess I have always considered $150k to be rich. Between the 2 places I have lived (Minnesota and Idaho) it would be a pretty great amount to live on. I would say at least upper middle class.

A 3 bd house in my area which is about 15-20 minutes south of the big city looks like it would be around $200k. Though there are also some areas close by that would be at least 500k, so it really ranges.

So, 150k would definitely be comfortable for me, if not on the rich side.

JennaV26 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:b55c42ff-6a14-47fb-ae55-2fb41cb1677a">Re: What counts as rich?</a>:
[QUOTE]I don't think $150k counts as rich where we are from, especially considering the taxes we pay here on that kind of income. It is enough to be comfortable but I am like J&K, <strong>I think Jenna's description is comfortable, not rich.</strong> The city we live in was listed as the 3rd best place to live in Canada this past fall, by MoneySense (magazine? I found the article on MSN Money) but the one downfall is the housing costs - at an average house cost of $400k. And that is less than our neighbouring community (to the east) which has an average house price at or above $500k! We wouldn't have any problem getting by on 150k in our neighbourhood but we wouldn't have much dispoable income for things like travel, and that to me really defines 'rich' - well, that an the kind of house you have (size, pool, etc...)...in our area we wouldn't get nearly what we could get elsewhere on the same income.
Posted by number55[/QUOTE]<div>
</div><div>You guys are probably right. I suppose from my perspective, that of a married woman whose household has one income and one spouse in school, my description seems "rich" to me. We will definitely not be anywhere near comfortable or rich for a long time!</div><div>
</div><div>Well, let me take that back. We are <em>comfortable</em> in that we can live within our means with a good amount in savings and without depriving ourselves. But if we added any big expense (children, new cars, etc.) we would struggle.</div><div>
</div><div>Who wants to help me find a job that will put me on the $150,000 level of "comfortable?"

</div>

thejucheidea · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:d16ca343-3649-4571-b235-6e97017ddc0e">Re: What counts as rich?</a>:
[QUOTE]For the girls whose areas where $150k a year is rich how much would a normal, average home cost? (like 1600 sq ft 3 bed 2 bath is average to me and probably 400+k here)
Posted by alynne1113[/QUOTE]
We live in a 3 bed/2 bath house that is 1400 square feet in a popular part of Nashville and our house was $129,900.

I would be extremely comfortable with $150k a year. Right now, our yearly household income is about $80k, so almost double that would be a dream.

ahhhitsshannyn · December 2011

If we continued to live in this house I think 150k would be rich. We are "comfortable" now and make less than half of that. We have a 3bd.2bath that we bought for 103k, and 2 new cars that we pay $500 per month combined. Even if we bought a bigger home in our area it would be probably at most 150k.If we were to move to the outskirts of town there are huge houses with huge lots that can go for upwards of a million dollars so 150 would not be rich at all. It really depends on the part of town and where else you spend your money.

Wiscisbliss · December 2011

I think that is rich.

The average American household income is 50k. If you're making 3xs the average, you're rich.

cupcakesfrosting · December 2011

$150k, for me would be extremely rich. I can't even imagine making that much money. I think I make just over $14k.

3bd / 2ba houses in my current city go for anywhere from $189,000 (house not that nice, in a sort of crappy neighborhood) to $8.9mil.

K Byte · December 2011

3 bedroom, 2 bath houses in my city average around $160k. But my suburb is one of the older ones - it has good schools and is safe, but you're definitely looking at an older home, smallish yard, possibly detached garage, etc. It's not going to have all the amenities of a new home. I would definitely buy in my town if we were going to stay here for a long time because I think we could really get a good buy.

The suburb immediately north of me is more like $230-$250k for a similar home, and on the lake they start at 1 million minimum.

$150k yearly income I would consider well-off and comfortable but not "rich," unless they had a lot of good investments or something.

Cupcakes4life · December 2011

COL is not bad in Montana, at least away from the resort areas and where the celebs live. FI and I own a side-by-side duplex which is a combined 2200 sq. ft. It cost 210K. We live in one side and charge 880 for rent for the other side which is 2 bd 1.5 bath. I think that is a lot for our area, but are renters will pay it. We live in a decent neighborhood. Very centrally located.

My parents bought a house last year for 205K in a great neighborhood. It is 4bd. 2.75 bath, with 2 family rooms.

I think 150K would be considered upper-middle to upper class here. My parents are making the most they've ever made and they make about 65-70K. FI and I make significantly less than that because I am a full time student without a regular income. I would say even 50K would be comfortable for us without kids. I would think 75K would make us comfortable once we have kids.

cupcakesfrosting · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:81f78173-8dbd-46d3-805d-32a89ae634e4">Re: What counts as rich?</a>:
[QUOTE]COL is not bad in Montana, at least away from the resort areas and where the celebs live. FI and I own a side-by-side duplex which is a combined 2200 sq. ft. It cost 210K. We live in one side and <strong>charge 880 for rent for the other side which is 2 bd 1.5 bath.</strong> I think that is a lot for our area, but are renters will pay it. We live in a decent neighborhood. Very centrally located. My parents bought a house last year for 205K in a great neighborhood. It is 4bd. 2.75 bath, with 2 family rooms. I think 150K would be considered upper-middle to upper class here. My parents are making the most they've ever made and they make about 65-70K. FI and I make significantly less than that because I am a full time student without a regular income. I would say even 50K would be comfortable for us without kids. I would think 75K would make us comfortable once we have kids.
Posted by Cupcakes4life[/QUOTE]

I would kill for this. I'd pay $1300 for that. More if it was in a good area.

Blueyed228 · December 2011

Jackie- I bet your taxes alone are through the roof right now.

Birdie1483 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:ad2cd928-0750-4fb7-9041-da5642797a13">Re: What counts as rich?</a>:
[QUOTE] $150k would probably be upper middleclass here. I wouldn't consider it rich though.
Posted by Steph0871[/QUOTE]

Same here for both where I live now and where I"m originally from (2 hour drive apart). I would be very comfortable with us making a combined $150k/year, but we wouldn't be living the high life. We just wouldn't have to worry about ordering an extra drink or two at dinner or buying $60 worth of stamps for thank you cards and Christmas cards! :)

K Byte · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:dcd8f581-5514-4cfd-8b0e-c2b19a9148f2">Re: What counts as rich?</a>:
[QUOTE]<strong>I *think* I live in what's been called the most expensive area in North America. </strong> I'm totally not trying to brag at all. Our real estate market went crazy about 5 years ago. I bought my first "starter" home for $300, then my next home for $904 and now, five years later, it's appraised at 1.4. I'm totally not bragging because I need to and am going to downsize. The house is 3 bedroom, 3 bath, 3400 sq feet. It's on a large lot, about 15,000 sq feet. I can't afford to live there now, so I'm downsizing. It was not that expensive when I moved there. It was just home to me. I'm really not saying anything to brag, I just know that the area's been called the most expensive. $150 K each is doing well in my circles. I'd guess each person in a couple on average probably makes about $100K/year. It's the norm that both people in a couple work outside the home, rare for one to stay at home. I hope I'm not really sorry I just admitted that.
Posted by 1covejack[/QUOTE]

Where do you live? I'm just curious, you don't have to say if you don't want to but I didn't see a location under your name.

Blueyed228 · December 2011

I think Jackie is on the west coast.

K Byte · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:f376106f-23b5-4efa-bf99-98bbec0f0760">Re: What counts as rich?</a>:
[QUOTE]I think Jackie is on the west coast.
Posted by Blueyed228[/QUOTE]
Ah that makes sense! There are a lot of expensive locations out there for sure!

When I don't see a location under a person's name I assume "Canada." Which isn't necessarily correct because I don't have a location and I'm not from Canada but that's because I cleared it from my info, haha.

Cupcakes4life · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:cabcae79-492d-4713-8817-883c1ce293a9">Re: What counts as rich?</a>:
[QUOTE]In Response to Re: What counts as rich? : I would kill for this. I'd pay $1300 for that. More if it was in a good area.
Posted by cupcakesfrosting[/QUOTE]

<div>
</div><div>But, that's a lot for my area. FI lived in a duplex about the same sq. ft, but only one bedroom, although there was room downstairs for rooms, and he paid 600/month. </div><div>My aunt and uncle rented a house for I think about 1100 per month and it was 3 bed, 2 bath, giant living room, den, and had a decent sized yard in a good neighborhood.</div><div>
</div><div>Real estate hasn't tanked here, but it is difficult to sell now. My other aunt and uncle have had their house on the market for a year and have only had one or two offers.</div>

K Byte · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:15e2b8be-49c8-4d64-8d93-fcb30afbfb22">Re: What counts as rich?</a>:
[QUOTE]KByte, YGPM, I've answered your question. : )
Posted by 1covejack[/QUOTE]
Thanks! That is interesting that your area is so pricey, I had no idea.

number55 · December 2011

I am fairly certain I know where jackie lives and when I was doing my research last night about the housing prices where I live I was ASTOUNDED by how high they are where she lives. Really amazing.

krizzo17 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:d16ca343-3649-4571-b235-6e97017ddc0e">Re: What counts as rich?</a>:
[QUOTE]For the girls whose areas where $150k a year is rich how much would a normal, average home cost? (like 1600 sq ft 3 bed 2 bath is average to me and probably 400+k here)
Posted by alynne1113[/QUOTE]

I live in Lancaster County, PA, and that type of house is around $200,000. I find this ridiculously exciting, because both fi and I grew up somewhere where that type of house is around $300,000, so we're excited about how nice of a house we can afford.

What I find very interesting is that salaries in this area (at least for engineers, like us), are the same as they are in higher cost areas, so we're actually technically making more than our friends who stayed in Philadelphia after graduation.

J&K10910 · December 2011

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_counts-rich?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:85b8dda9-c2b6-4f94-87d8-07bb358c7f66Post:cc50bcb6-7521-4439-b5f8-06ee6f8b4f49">Re: What counts as rich?</a>:
[QUOTE]In Response to Re: What counts as rich? : I live in Lancaster County, PA, and that type of house is around $200,000. I find this ridiculously exciting, because both fi and I grew up somewhere where that type of house is around $300,000, so we're excited about how nice of a house we can afford. <strong>What I find very interesting is that salaries in this area (at least for engineers, like us), are the same as they are in higher cost areas, so we're actually technically making more than our friends who stayed in Philadelphia after graduation.</strong>
Posted by krizzo17[/QUOTE]

When H and I were looking into moving and where we might want to move to, we were shocked at the fact that he'd be making pretty much the same salary here in MN as he would in CA in the bay area. That took the bay area off our list really quickly, because everything else is so much more there than here. I think we'd have a hard time adjusting to a COL where most things would likely be close to double but salary would be the same.

What counts as rich?

Re: What counts as rich?

Choose Another Board

Search Boards