Support NeoGAF

[hockeypuck]

If you’re looking at the standard deduction for a single person (simplistic, I know) it’s not exactly triple.

I think with 100k you’d pay about 20k in taxes so you’d keep 80k.

300k would cost you maybe 80k in taxes. 220k take home. Not too shabby! But a little less than triple.

Don't forget 3.8% Medicare surtax.
Plus many states have their own progressive income tax brackets.
And phaseout or outright loss of tax credits/deductions after certain income thresholds.

Fuck taxes.

Works nice in theory.

In my observation, most people just spend the extra money on other stuff - bigger house, luxury car, private school tuition, eating out twice a day, etc.

Thankfully, I discovered Bogleheads and Retirement-GAF right around the time my income septupled. My expenses increased, but only 2 to 3-fold (e.g., Corolla to Outback). And I am saving an absolute shit ton for retirement.

 

[Oscar]

I'd take the $100k for 40 hours.

That's upper middle class lifestyle in Texas

 

[Kill3r7]

Works nice in theory.

In my observation, most people just spend the extra money on other stuff - bigger house, luxury car, private school tuition, eating out twice a day, etc.

Very true. Although a buddy of mine is semi-retired at 40 because he was able to stick with it. About 6 years ago he went to China when his company expanded there. Tripled his salary. All expenses paid, including his kids private schooling. Once his assignment was done he moved down to South Carolina and now works as a consultant for the same company. I occasionally see him on Destiny.

 

[quickwhips]

I make 81.5k and i work 55 hours a week. I guess i failed.

 

[WaterAstro]

I'd go with the 300k because I already worked overtime a lot, like 60 hours a week, even at the lower range pay.

 

[BobLoblaw]

I already work 55 hours a week. I'll take that 300k please. That 200k difference would be huge out here in SoCal. It's the difference between buying and perma-renting.

 

[Yoshi]

I feel 100k is more than I would ever use up anyway. This amount of money allows to eat well, get clothes, feed my family, get the entertainment we like and go on a holiday every year. Why would I go for 300k? And having a private jet or a beach house? I would never use either, so why would I buy them, even if I were to earn 300k a week. I don't get why it is obvious (as many have said) that lifestyle would change significantly with more income. If you are happy with your lifestyle that you can currently afford and have no additional wishes, why would anything change?

 

[FreedomFighter]

$100k/40-hours per week all day err day. Money is cool but I prioritize quality of life.

 

[Sai-kun]

Id go for 20hours a week 50k.

ayyy me too

 

[Kyuur]

300k, no question. Each year worked is 2 years of retirement over the 100k if you were to live the same. You could quit after 5 years and take 10 years off.

 

[dripdripsplash]

Everybody thinking of how to hit retirement fastest is kinda depressing. Nobody enjoying their jobs on GAF?

 

[Zelenogorsk]

Can i work 20hr/week for 50k?

 

[Exuro]

Everybody thinking of how to hit retirement fastest is kinda depressing. Nobody enjoying their jobs on GAF?

If you like your job then working an extra 15 a week shouldn't be too much of a problem for you. At least as a single guy I enjoy my job and would love to get paid 3x for working the additional hours.

 

[Timeaisis]

That completely depends on cost of living where you live.

I know $100K a year would be plenty for me and go that. 15 hours a week for the rest of your life is a lot of time.

What I want is 70k for like 25 hours a week is that an option

Also, this.

Time > Money.

 

[Zantetsuken]

The latter doesn't specify working remotely either. I will definitely take that one.

 

[Nipo]

Everybody thinking of how to hit retirement fastest is kinda depressing. Nobody enjoying their jobs on GAF?

I enjoy my job. But I can think of 100 things i enjoy MORE. The question should be why do you want to stay in your job longer than necessary? Can't you think of anything you'd like to do more?

 

[Maxim726X]

What I want is 70k for like 25 hours a week is that an option

I am in a situation where I can make about 150k working 25 hours, exactly.

But... We have no kids, and I want to save for retirement/house improvements and the like, so I'm working more.

 

[OEM]

Man you guys really took this the wrong way. Probably my fault, I should have clarified. Difference between making 100k and 300k is not just 15hour. I meant more stress and probably completely totally different career may be that gets you that much money.

I came across this article and that's why I made the OP

The Perfect Salary for Happiness: $75,000
https://blogs.wsj.com/wealth/2010/09/07/the-perfect-salary-for-happiness-75000-a-year/

 

[johnny956]

Man you guys really took this the wrong way. Probably my fault, I should have clarified. Difference between making 100k and 300k is not just 15hour. I meant more stress and probably completely totally different career may be that gets you that much money.

I came across this article and that's why I made the OP

The Perfect Salary for Happiness: $75,000
https://blogs.wsj.com/wealth/2010/09/07/the-perfect-salary-for-happiness-75000-a-year/

Maybe 75k for a single person. I make more then that but wife is in school and we have a 7 month old and I know when my wife starts working that’ll increase happiness for us for sure

 

[Piecake]

That completely depends on cost of living where you live.

I know $100K a year would be plenty for me and go that. 15 hours a week for the rest of your life is a lot of time.



Also, this.

Time > Money.

Then live on a 100k budget, put that extra 200k towards retirement, and retire in 10 years.

You'll have a lot more time to do what you want that way.

 

[Stuggernaut]

This just makes me realize I work way too many hours for way to little money.

 

[Mesousa]

Maybe 75k for a single person. I make more then that but wife is in school and we have a 7 month old and I know when my wife starts working that'll increase happiness for us for sure

Unless you are living in a Cali/Big city type of place or paying your wife's tuition bill then 75k should be pretty sufficient for happiness for two adults and a baby. Thats like 2 grand a fortnight after taxes.

 

[GamerJM]

With where I am in life right now, I'd probably go with the 100k because I'm probably not moving out of my parents' house for over a decade (regardless of the amount I make, even if I made a mill a year I'd still live with my parents) and they'd probably just raise my rent if I made 300k.

 

[JordanN]

Time is more important than money.

Working all the time is the quickest way to go to an early grave.

 

[Prototype Viktor]

i'd work the 300k job for 3 years and never work again

 

[numble]

Worked 50 and hated it. Never got to spend time with anyone. I work 45 now and dont feel like I have enough time to spend with my wife and newborn. Adding 10 hours a week will hardly make me feel better.

Pretty much

You have to remember we Big 4 accounting people are the outliers of this society lol.

What happened to the posts you quoted?

 

[Queen Vulpix]

I make under 10k, I don't know what i'd do with all that money >_<

 

[Mission]

I haven't read the entire thread ... first 3 pages and this one.

But for all the folks talking about working 55 hours for 10 years or something and then retiring I really have to wonder how old they are. Because I'm 45 and my thinking is this: If you're doing that in your 20s with no kids you're completely skipping the best years of your life. Trust me your health goes downhill quickly. Your energy goes down quickly. If you are in your 20s or 30s and have kids you will miss their lives in that scenario. It looks attractive when you have all the time and energy but looking back its not the same.

Yes I realise those hours for much less pay are reality for many people but I think they would agree with what I've just said. 45 hours doesn't really affect all of that much but getting beyond that it really starts to add up.

 

[jordan0386]

70 grand take home vs 200K take home pay.

Answer is obvious.

 

[numble]

I haven't read the entire thread ... first 3 pages and this one.

But for all the folks talking about working 55 hours for 10 years or something and then retiring I really have to wonder how old they are. Because I'm 45 and my thinking is this: If you're doing that in your 20s with no kids you're completely skipping the best years of your life. Trust me your health goes downhill quickly. Your energy goes down quickly. If you are in your 20s or 30s and have kids you will miss their lives in that scenario. It looks attractive when you have all the time and energy but looking back its not the same.

Yes I realise those hours for much less pay are reality for many people but I think they would agree with what I've just said. 45 hours doesn't really affect all of that much but getting beyond that it really starts to add up.

If you have a lot of money you can use it to save time. You can have someone drive you to work or move closer to work. You can have food or clothes prepared and brought to you instead of cook yourself or shopping at the store. You can’t think of time you can save by paying someone to do it instead?