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Do you consider yourself well-off, financially?

NecrosaroIII

Member
Feb 2, 2020
1,153
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www.weeabuds.com
Bonus Question: How much do you make?
Bonus BONUS Question: Where do you live?

This is going to be a question that varies location to location, so it should be interesting to see responses.

I'm okay. Between my wife and i, we make about 110k a year. We live in Irvine, CA which is pretty expensive. Between rent + car payments + student loans, it takes a pretty big chunk out of my income. Plus pre-covid, I was spending $500 in gas a month. Still, I can save a little bit each month. But things were looking dire when my car broke down last year and I had a few unexpected expenses.. We were able to weather the storm though. Still, we don't make enought o have a child or anything like that.
 

Fbh

Member
Dec 6, 2013
15,661
11,476
1,070
No.

I used to make way more, then late last year I opened my own busines...... a week before the largest public unrest in my country since at least the 80's. Then once that started to slowly clam down we get hit with this Corona shit.

I kinda miss seeing a game on sale for $15 and not spending the rest of the day thinking if I can afford it lol.

Anyway, after a year things are at least, slowly, starting to look up.
 
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MetalAlien

Banned
Mar 6, 2005
13,623
11,397
1,940
No but I always play above my pay grade and I'm pretty good at it. Most of my friends make multiples of what I do.
 
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Ten_Fold

Member
Jan 18, 2017
2,463
2,171
480
No, but if I was to lose my job today, I probably could pay my rent/bills for at least 5-6 months. I feel to be well off is to not work a 9-5 and make your own income.
 

TaySan

Banned
Dec 16, 2018
2,597
4,253
560
My family is considered upper-middle class. Think somewhere my father makes around 100-150k a year? Pheonix, AZ

My father is now retired, but we always lived a comfortable life. Giving me the life he never had as a child. My mother never had to work, but did side jobs here and there for fun and side money.

I'm fortunate enough to live with my father and the pandemic helped me double my savings so it was a blessing in a way. I have 17k in savings to last a good while just incase if i get laid off again.
 

Thaedolus

Banned
Jun 9, 2004
11,551
5,710
1,875
Yes. Not wanting to get too specific but like top 8-9% income in the US myself and still about that about that combined. Cost of living is middle of the road for the country. Only debt is student loan, which we’ve been paying off like maniacs, and a mortgage. Biggest expense outside of mortgage will be childcare soon, so...honestly can’t complain about anything. We really want for nothing and are setting up well for the future by living within our means.

Our friends are a few years ahead of us and just paid off their house and are 100% debt free. We’re looking to get there in 5-6 years.
 

Ozzy Onya A2Z

Member
Apr 16, 2012
9,373
3,164
970
Melbourne, Australia
Here's a reality check for those living in first world countries -

According to the Credit Suisse Global Wealth Report, the world’s richest 1 percent, those with more than $1 million, own 44 percent of the world’s wealth. Their data also shows that adults with less than $10,000 in wealth make up 56.6 percent of the world’s population but hold less than 2 percent of global wealth. Individuals owning over $100,000 in assets make up less than 11 percent of the global population but own 82.8 percent of global wealth. Credit Suisse defines “wealth” as the value of a household’s financial assets plus real assets (principally housing), minus their debts.

The bolded and underlined statement is likely a reality for most adults in first world countries. You're financially well off with a high quality of life if you live and work in a first world country. Keep yourself and life in perspective.
 

Can't decide

Member
Sep 11, 2018
743
1,668
430
No, this year has been the lowest financial point in my life. After jobs closing down, paying off the debts that my partner accrued, then splitting up with her while suffering a massive reduction in working hours during covid in my current job, I have been left penniless.

Currently I have £5.15 to last me until I get paid in 8 days time.
 

teezzy

Fantastik Tuna
Mar 18, 2020
8,545
21,646
945
I can afford my current lifestyle, but not much else. Single, living alone, renting a home that I'd one day like to own.

Wouldnt say I grew up in poverty or anything, but I definitely was no stranger to government cheese.

If I could make like 50% more than I do now, I'd consider myself well off.
 
Oct 26, 2018
18,187
25,157
795
I'm no big wig, but live comfortably. Still got a mortgage, but can afford a modest home, nice car and I got a property going up next year which needs a final $20,000 payment. Then got to find a tenant to counter the mortgage on it.

I take pride being a cheap fuck sometimes. Case in point there's this $6 bucket of ice cream I like. But I only buy it when I see it go on sale for the usual sale price of $4. Recently I needed some allergy shit. I printed a $4 off coupon from their website and handed it to the cashier like some old granny.

Then again, I can't be that cheap. When I parlay savings when I shop for shit, I almost always buy lunch on the way home. So I didn't really save anything.

lol
 
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Celcius

Member
Mar 11, 2009
7,715
2,046
1,320
Yes, I'm definitely not rich but I've been very fortunate.
Single with no kids, six figure salary, no debt, very healthy savings.
 
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Allforce

Member
Feb 29, 2012
4,167
395
975
Wife is a public school teacher with max education so yeah, we're doing good. I was laid off this year and probably won't even bother looking for work again until 2021-2022.

No debt besides a mortgage. Basically live thrifty but don't go cheap on shit when it calls for it either.
 
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pennythots

Member
May 14, 2019
1,894
3,265
530
I make enough that with my low cost of living and modest debt-to-income ratio I end up with a nice bit of extra cash to throw around.

I'm picky as to what I'll spend money on but when I finally do I like to go big.
 
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MastAndo

Member
Oct 13, 2014
1,981
2,862
585
I do pretty well (six figures, though I know that doesn't go very far in NYC) plus being single with no kids, and have a healthy savings with no debt. I've been fortunate in that regard. My money kind of just sits there as a savings though, as my lifelong sense of risk aversion is too great to do anything meaningful with it. I don't own property or invest in anything, besides max contributions to a 401K. I definitely need a kick in the ass in that regard.

I make it a point to not be frivolous (outside of far too frequent Grubhub orders or tech toys I don't need), so I've been comfortable for a while, for which I'm grateful. I feel for people who went the more traditional route in life and are barely scraping by to have that nice house for their family. While the highs are probably amazing for them, they generally seem run-down and stressed.
 
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macfoshizzle

Member
Jan 23, 2009
1,681
361
1,250
i'm in silicon valley land and i make 6 figures. i'm doing aaaite. i can afford vacations every year if i plan correctly, i can go out to nice dinners on weekends, i don't have a fancy car, i shop mostly things that are on sale, if i want to buy something in the $1000 - 3000 range stuff, i just cut a lot of things off for a month.
 
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bigsnack

Member
Sep 12, 2005
426
207
1,425
Los Angeles
I live in LA, and live very comfortably. At 26 I had tens of thousands in debt, with no clear path to get out of the hole. Both me and my wife were offered new job opportunities within 4 months of one another, and we have both worked really hard to maximize those opportunities.

I grew up poor. Repossessed cars, no home phone line for years, food stamps, etc. I was not going to rest until I guaranteed that my kids would never have to live like that. We could probably live far more lavishly than we do, but I prefer being under the radar and unassuming.
 

Jtibh

Banned
Sep 19, 2019
3,738
6,280
545
Alberta
I do good but always living on edge.
By that i mean i dont have a fix income as a business owner and i dont even pay myself so on paper i make below minimum wage.
But in my business you can earn nothing for a long time or over a mill in a year it really depends on the economy.
I also try new venues and my next one if it works will be big. Again one of those where you can make zero or a shitload.
Anyways lets just say 4 digit expenses are nothing to worry about.
 
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GAMETA

Banned
Jun 3, 2014
2,712
3,775
905
I live in Brazil. I'm not rich but I do live well enough... middle class, I'd say.

I've been working for foreign companies as a freelancer for a few years now, and thanks to that I make relative decent money. It's around 1st world minimun wage, but when converted to local currency it gives me a good leverage in comparison to what the local economy pays.

Kind of sucks knowing people in better countries make 2 times what I make for the same work, but I'm not complaining much... I experienced poverty growing up, shit's rough, I'm in a much better position now, thank god.
 

King of Foxes

Banned
Jan 9, 2018
3,293
7,538
720
Latvia
I am well off for Eastern Europe. One part smart investments the other a position that pays a shitty Danish salary which is still 4 or 5 times more than average local Latvian salary.

We can't afford new cars every year but trips to dentists, yearly kids clothes, winter jackets and expenses like that are not a financial worry.

Raising 4 kids without living paycheck to pay check well off.

3600 euro after tax a month
Live in Latvia.
Married, 4 kids at home
 
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hariseldon

Unconfirmed Member
I grew up poor, lots of hiding from bailiffs as a kid, that kind of thing. Missed a couple of years of school, parents didn't go to school past 16, my chances were poor if my peers were anything to go by. I got lucky in that I was autistic enough to not socialise with bad crowds and to get kicked out of school and learn to code. Autism literally saved my life.

Won't be too specific but I'm in the UK, top 5% on earnings if Wikipedia is anything to go by, wife is in the top 10%, all in all we're pretty comfy. We have savings that could get us through 5 or 6 months with no income at all but more importantly we could scrape by on my income alone, and both of us are in jobs that (touch wood) are fairly secure.

Due to my wife's MS we're less comfy than we might be with those figures as we're paying the mortgage double-quick to make sure that if she gets to a point where she needs full-time care we don't lose the house. Hopefully that won't happen, and we'll get to have a nice comfortable middle-age and retirement as a product of the work we're putting in and the risks we're taking right now.
 
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Lupingosei

Member
Oct 24, 2017
837
2,133
515
I am doing good. Nice apartment, car, no debt, money on the bank and enough savings for my retirement each year.

Also enough money for my hobbies and I could go on holidays, if I want to.

Of course, I could make more money if I would work fulltime, but for me it is just not worth it.
 
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hariseldon

Unconfirmed Member
Here's a reality check for those living in first world countries -



The bolded and underlined statement is likely a reality for most adults in first world countries. You're financially well off with a high quality of life if you live and work in a first world country. Keep yourself and life in perspective.

While this is true it's also worth considering the purchasing power of a dollar in different places. For instance, in Thailand I lived very comfortably for about £700 a month, but the same standard of living in the UK would require more like £7-8000 (given I was renting a very large house and eating out in very nice restaurants every day, etc).
 
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JimiNutz

Banned
Apr 15, 2007
12,464
5,954
1,680
London UK
My gf and I have a combined income of £95k per year and have no debt (unfortunately we rent).

We live just outside of London.

I don't think we are well-off at all but I am grateful for every penny that we earn and recognise that we have it much better than some people.

Considering we both come from working/lower-working class families (I'm from a single parent Mother that didn't work and survived on benefits/welfare), I'm proud that we have both done better than our parents did.

We still don't own a home though which is pretty stupid of us (hopefully that will be sorted in 2021)
 
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hariseldon

Unconfirmed Member
We still don't own a home though which is pretty stupid of us (hopefully that will be sorted in 2021)

Tbh it's bloody hard with the housing market in the UK being utterly insane. Huge rents prevent saving a deposit and of course prices are so insane that even a combined 95k salary won't get you a mortgage big enough for anything spectacular (considering that puts you well above average income). It's a ridiculous state of affairs really.
 

JimiNutz

Banned
Apr 15, 2007
12,464
5,954
1,680
London UK
Tbh it's bloody hard with the housing market in the UK being utterly insane. Huge rents prevent saving a deposit and of course prices are so insane that even a combined 95k salary won't get you a mortgage big enough for anything spectacular (considering that puts you well above average income). It's a ridiculous state of affairs really.

Yeah the housing market, particularly in the South East of the country, is ridiculous.
I'm hoping that there may be a slight reduction in house prices in 2021 once the stamp duty holiday ends but it's unlikely to change by much.

Luckily we now have a £40k deposit saved and if things go well at work next year we are both due pay rises which should push us over £100k combined income. That's still not going to be enough for anything other than a very modest two bedroom house somewhere in Hertfordshire but at least it will finally get us on the ladder.

I still have several friends in their 30s that are renting and will be for the foreseeable future.
 

isual

Member
Jan 5, 2012
3,225
351
835
not working right now, but i am comfortable, but once the pandemic is over in the US, i can find a relative job to my skillset within reason. savings and retirement funds are both separately in the 6 figures. no kids.

i do think i am working class (if you have to wake up and go to a 'job' from 9 to 5, you are working class). can't wait to be middle class myself one day.

but growing up in a south east asian country, i was upper middle class.

also, comparing being poor in the US is very different from being poor in developing country. there is very limited social mobility in the latter.
 
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jufonuk

Member
Jan 1, 2009
11,652
3,565
1,325
Jim.
My wife and I are Living below and within our means to keep lean. We’re doing ok.
We don’t but the latest things. It’s more we will wait etc then get something. Find the best deals for holidays etc.

shop for cheaper (price food, not quality)
 
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Woffls

Member
Jul 26, 2007
6,219
745
985
33
London
Decent salary, always been fairly comfortable. Left London in May to live with parents on the south coast whilst I save up some money to buy a property. Will be moving to Winchester later this year, after which I will be somewhat less comfortable but still fine.
 
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hariseldon

Unconfirmed Member
Yeah the housing market, particularly in the South East of the country, is ridiculous.
I'm hoping that there may be a slight reduction in house prices in 2021 once the stamp duty holiday ends but it's unlikely to change by much.

Luckily we now have a £40k deposit saved and if things go well at work next year we are both due pay rises which should push us over £100k combined income. That's still not going to be enough for anything other than a very modest two bedroom house somewhere in Hertfordshire but at least it will finally get us on the ladder.

I still have several friends in their 30s that are renting and will be for the foreseeable future.

It's insane when you think about it. My parents generation had it so good, being able to buy houses for about 3x a normal salary - sadly that doesn't do me any good as they pissed the money away but it is what it is. I'd definitely have been stuck if I'd stayed single, it was fortunate I met a good woman who earns well, motivated me to get my shit together, and had the funds for a deposit - as it was though I was 38 when we got the house, which is pretty fucking late. That's another reason for doing a fast mortgage of course.
 
Aug 16, 2012
2,255
560
755
Right now im confortable, but was pretty well off about a year ago, during corona I've lost about have my savings, so if nothing changes it might become troublesome but right now, confortable is the word, I can afford most of my luxuries and bills, go out whenever I please.
 
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Ornlu

Banned
Oct 31, 2018
3,852
6,236
675
Yes. We're still a bit leveraged as far as what we're on the hook for (house), but compared to how I grew up we might as well be millionaires, lol. Grew up in the bottom 25% of income, now in the top 40%. We've got 3 kids, 1 of which is a teen. So right now we're focused on setting them up for success as each one of them grows up to the point that they're able to work and start building toward lives on their own. We're at that stage where we aren't really 'wealthy', but definitely on the right trajectory.

Household income: about 80K
Location: Michigan

I live in Brazil. I'm not rich but I do live well enough... middle class, I'd say.

I've been working for foreign companies as a freelancer for a few years now, and thanks to that I make relative decent money. It's around 1st world minimun wage, but when converted to local currency it gives me a good leverage in comparison to what the local economy pays.

Kind of sucks knowing people in better countries make 2 times what I make for the same work, but I'm not complaining much... I experienced poverty growing up, shit's rough, I'm in a much better position now, thank god.

Congrats! I'm glad to hear that things have improved for you and yours. It's great to hear about people who can rise up from what they are born into.
 

JimiNutz

Banned
Apr 15, 2007
12,464
5,954
1,680
London UK
It's insane when you think about it. My parents generation had it so good, being able to buy houses for about 3x a normal salary - sadly that doesn't do me any good as they pissed the money away but it is what it is. I'd definitely have been stuck if I'd stayed single, it was fortunate I met a good woman who earns well, motivated me to get my shit together, and had the funds for a deposit - as it was though I was 38 when we got the house, which is pretty fucking late. That's another reason for doing a fast mortgage of course.

I'm similar in the sense that when I was in my late teens/early 20s I had the silly idea that I didn't 'need' anyone else. I thought I was young and healthy, reasonably good looking and independent so I wanted to do everything on my own. Luckily I met a good woman in my mid 20s who showed me how naive I was to think that way. Had I kept that mindset I never would have been in the position to even consider buying property.

I'm gonna be 35 at the end of the year (gf is 29) so I'm going to be buying property pretty late in life also. Most of my friends are in a similar position though and the only ones that did buy in their late 20s were either helped by their parents or live in a more affordable part of the country. We most definitely do have a housing crisis in the UK and if you're single you have next to no chance of owning unless you are very fortunate.

Despite Government commitments to build, build, build, I think it's going to take a very long time to reverse the situation as well. Young people now seem to have it even worse than we did as when it comes to home ownership prospects.
 
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hariseldon

Unconfirmed Member
I'm similar in the sense that when I was in my late teens/early 20s I had the silly idea that I didn't 'need' anyone else. I thought I was young and healthy, reasonably good looking and independent so I wanted to do everything on my own. Luckily I met a good woman in my mid 20s who showed me how naive I was to think that way. Had I kept that mindset I never would have been in the position to even consider buying property.

I'm gonna be 35 at the end of the year (gf is 29) so I'm going to be buying property pretty late in life also. Most of my friends are in a similar position though and the only ones that did buy in their late 20s were either helped by their parents or live in a more affordable part of the country. We most definitely do have a housing crisis in the UK and if you're single you have next to no chance of owning unless you are very fortunate.

Despite Government commitments to build, build, build, I think it's going to take a very long time to reverse the situation as well. Young people now seem to have it even worse than we did as when it comes to home ownership prospects.

In my case my 20s were a complete mess of drugs and sex. I put work into getting skills, thank fuck, but the rest of my life was a shambles. I hit 30, met the wife, and got shit together.

You're correct that parental help is a huge leg up for some fortunate people. That was never an option for me as my dad did more drugs than I did and my mum was a functioning alcoholic who never managed to keep him in check. Honestly it's a miracle I've done ok - it really did help to have a passion for something that ended up paying well, otherwise I have no idea where I'd be. I know a lot of people who are really fucked though, from my generation - those who, like me, didn't get it done early were fucked (though had I done so I'd have almost certainly lost it all as I was making terrible decisions with women).

The next generation are truly fucked if we don't build a fucktonne of houses very very quickly. Of course it's even worse for them because COVID has bankrupted the government so it's likely they'll not have access to state pension, unemployment benefit (which I've never claimed), possibly even the NHS, so they'll have to fund much more of those out of their own pockets but without the income to achieve that, and with a housing market that excludes them. They're going to be really fucking angry.

Getting the country out of this mess is going to take someone with remarkable skill and imagination, but I can't see that anywhere on government or opposition benches.
 
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Mattyp

Gold Member
May 29, 2017
1,722
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550
Yes, extremely well off when I stop and think about the assets we hold and the income we have per year would put us up in the top 2% of Australian earning households.

But with the clients I have do I feel wealthy? not in the slightest. Is there any resentment? Not even for those handed everything. We started with nothing and turned it into something to give to our kids, and will be proud they'll be able to have the life I envision for them. It's easy to come up with excuses on why things never progress. You can either get the fuck out there and make it happen or not. I have resentment for those people, the people that refuse to drag themselves out of the gutter in Australia because its easier to receive a hand out and then bitch about everything and not realise how lucky they are just to be born here. Anyone can make something for themselves here there's no fucking excuse.
 
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hariseldon

Unconfirmed Member
Yes, extremely well off when I stop and think about the assets we hold and the income we have per year would put us up in the top 2% of Australian earning households.

But with the clients I have do I feel wealthy? not in the slightest. Is there any resentment? Not even for those handed everything. We started with nothing and turned it into something to give to our kids, and will be proud they'll be able to have the life I envision for them.

That's honestly the most important thing any of us can do. Don't compare your situation with others, just look at your own situation, own it, and improve it. There will always be someone luckier and richer - envy is ugly and not terribly useful.