what kind of lifestyle could you have off this..

[drake25]

if you made $200,000 grand a year, what kind of lifestyle could you live? obviously it would be a good one. but im asking the specifics

house, cars, etc..


i have a job opportunity that may allow me to get this kind of money, im young and not too familiar with what fiances can buy you in terms of the long run.

[Times Roman]

My life style remained unchanged. It all went in the bank.

[Dpyle]

With money like that I'd live exactly how I live right now. Then 2-3 years down the road boom all the house I'll ever need paid for. Few months later sweet ride paid for and so on. With a salary like that I'd live at a level where I could pay cash for everything and never finance or owe anyone a dime. All while being able to save for a proper retirement.

[grumpee]

No real lifestyle changes here. I still live in a paid for house thats way below my means and drive a cheap truck. Rather bank roll the rest and use it to grow my company bigger so i can make more monet. Down the road.

[PowerHouse1900]

If I had the opportunity to make 200k a year I would continue living like I was broke and save every penny possible. I grew up in a family with money and when I moved out it was a big wake up call. It doesnt take long to adjust your standard of living. Now I could never justify buying a $4 cup of coffee or buy something at the grocery store without looking for a cheaper brand. I enjoy nice things ,but I enjoy having a swole bank acct. more.

As far as lifestyle changes for me... a 200k job would mean that I could start a family and know I could provide.

[drake25]

hm, sort of deciphered a collective agreement on the savings aspect, could you guys give me some advice about that, i heard 10% of every check, sum of money etc. you get should go in the bank? more than 10%? less?

[warchild]

save it and pay cash for a house. i wouldnt be buying flashy cars or blowing it. i know too many ppl like that and they will never get out of debt. being debt free has been my greatest accomplishment.

[Honkey_Kong]

$200k isn't really THAT much cash nowadays. Most people who make that money will continue to buy cars and houses they cannot afford and the payments will cause them to still be flat broke. The key to having a good lifestyle isn't about how much money you make, it's about how much money you save.

What most people don't understand is that at $50-80k of income, you're fully capable of living a fantastic lifestyle. In the interim, you have to save as much as you can and then invest in solid opportunities.

[AXx]

Agree with this ^^^^^

I had a string of years where I made 100k and I was way more broke than I am now, lol. I would advise as others have please save your money. A vehicle is just a vehicle yes some are nicer than others. The ultimate goal with a vehicle is point A to point B. I drive a paid for Jeep Cherokee and love very minute of it. It accomplishes the exact goals it was designed to accomplish, haul my $hit and get me where I'm going.

In conclusion I also would recommend paying cash for a house and staying there for many moons. If and when you decide to move you can either rent it or sell it. The choice is yours. Invest wisely and I will pay of in the long run (pun intended).

[Times Roman]

hm, sort of deciphered a collective agreement on the savings aspect, could you guys give me some advice about that, i heard 10% of every check, sum of money etc. you get should go in the bank? more than 10%? less?

Mate,
Somewhat of a financial expert, not comfortable calling myself that, but there it is. Anyways, there is no magic number. And the rules have all changed in the last 15 years or so.

If you really want to invest, you should begin asking yourself some questions...

What is my goal?
How long will I be able to save until I will want to use the money, for retirement say...
if for retirement, what type of lifestyle will i want?
how much will that equate out to in $$ at that time (FV)
while investing, how much risk am I willing to take?
do I want to be actively involved in my investments or let others take charge, in say, a mutual fund managed by a third party.

I kind of laugh at calling myself a financial expert, as I lost over 50% of my total portfolio value and the value of my house in the last 6 years!

The 10% you are referring to was a rule of thumb the old timers used back about 30 years ago. But back then, pensions were still strong, the housing market was appreciating nicely, mutual funds were returning an aggressive and regular 10 to 12%. You can still do the 10% today, but make damn sure you start young (18) and don't invest everything you got in a mutual fund.

Best tto have a diverse portfolio. Some in a mutual fund, some in bonds, maybe some rental property, some in gold or other highly liquid asset.

[thegodfather]

Honestly man, I've found that even $240,000 per year, does not buy you nearly as much as you think it does. I guess if you made $40,000 your entire life and suddenly got put into that sort of a job category it would be a shock, and you'd percieve it as living high on the hog....

[Shol'va]

To me it's kind of like being a lottery winner when you never had money to begin with. It is so easy to go all crazy and buy everything you ever wanted right now and put it on credit. But that is a very bad move. Don't fall into the trap of owe-ing for life. short of buying a house on credit, I'd buy with cash or hold off till I had it on the other stuff. But also if you really don't need it don't buy it. Like most of the others on here said, bank that money. When you get older you will be so glad you did. The others speak from experience and I trust them on this one. Of course no one can predict your future with a wife/partner. Saving all your money only having to give up half to someone else sucks.

[Times Roman]

$200k isn't really THAT much cash nowadays. Most people who make that money will continue to buy cars and houses they cannot afford and the payments will cause them to still be flat broke. The key to having a good lifestyle isn't about how much money you make, it's about how much money you save.

What most people don't understand is that at $50-80k of income, you're fully capable of living a fantastic lifestyle. In the interim, you have to save as much as you can and then invest in solid opportunities.

I've known guys that make a bundle, yet are stupid with thier money. Huge mortgages, expensive cars with high monthly payments, expensive trips and vacations. They were living pretty much paycheck to paycheck. What's the point of all that money if you are still heavily in debt?

Here's what I believe. Debt robs you of your freedom. You become a slave to it, and and quite often it puts you in a position of being one or two paychecks away from insolvency.

Fortunately for me, i saved some cash, and now I have the freedom to decide if I want to work or not. Right now, i choose not to work, and probably won't for a few more months. If I want to hop on the harley and haul ass and go visit my mates, I can do that any time I want. Except for my house (unfortunately), I don't have any debt, giving me the freedom to do alot of things I ordinarily wouldn't if I had large debt and had to go back to work to service that debt.

But I don't mind driving a 14 year old car, or riding a 6 year old harley. I don't wear bling, my reading glasses are from the bargain bushel at a local drug store, and I don't go out to eat that often.

One of the fellas I met overseas looks at it differently. He purchased a 6k sqft home in TX. I'm sure he put a couple hundred grand down, but undeniably he has a large mortgage. He dropped another hundred grand to put in a very luxurious rockwall pool, complete with waterfalls and beach landing, and a kick asss hot tub and sauna. Outdoor wet bar is partially enclosed with referigerator, kegorator, and incredible stereo system. The market stalled and now his MV is less. Every week, his wife gets her hair, finger/toe nails done. I believe he does too when he's not overseas. He drives around in an incredibly expensive car, yes, making payments on it. This guy just burns through cash like 2012 is the end of the earth. yes, he makes a boat load of cash, but there is no guarantee that it will continue. If his income stream falters, then what? bankruptcy?

[Honkey_Kong]

To me it's kind of like being a lottery winner when you never had money to begin with. It is so easy to go all crazy and buy everything you ever wanted right now and put it on credit. But that is a very bad move. Don't fall into the trap of owe-ing for life. short of buying a house on credit, I'd buy with cash or hold off till I had it on the other stuff. But also if you really don't need it don't buy it. Like most of the others on here said, bank that money. When you get older you will be so glad you did. The others speak from experience and I trust them on this one. Of course no one can predict your future with a wife/partner. Saving all your money only having to give up half to someone else sucks.

Well there are ways around that, but you need a good lawyer and an even better prenup. Can gay guys get vagina-money when their partnerships go sour?

[spywizard]

they can, but only in certain states

[cherrydrpepper]

My dad makes more than 200k. What the others are saying is true. You don't want to go into it thinking "I could buy a lambo!" or "I could get an 800k house!". I know a young couple that were both making six figures that did that. They have declared bankruptcy.

[Honkey_Kong]

I've known guys that make a bundle, yet are stupid with thier money. Huge mortgages, expensive cars with high monthly payments, expensive trips and vacations. They were living pretty much paycheck to paycheck. What's the point of all that money if you are still heavily in debt?

Here's what I believe. Debt robs you of your freedom. You become a slave to it, and and quite often it puts you in a position of being one or two paychecks away from insolvency.

Fortunately for me, i saved some cash, and now I have the freedom to decide if I want to work or not. Right now, i choose not to work, and probably won't for a few more months. If I want to hop on the harley and haul ass and go visit my mates, I can do that any time I want. Except for my house (unfortunately), I don't have any debt, giving me the freedom to do alot of things I ordinarily wouldn't if I had large debt and had to go back to work to service that debt.

But I don't mind driving a 14 year old car, or riding a 6 year old harley. I don't wear bling, my reading glasses are from the bargain bushel at a local drug store, and I don't go out to eat that often.

One of the fellas I met overseas looks at it differently. He purchased a 6k sqft home in TX. I'm sure he put a couple hundred grand down, but undeniably he has a large mortgage. He dropped another hundred grand to put in a very luxurious rockwall pool, complete with waterfalls and beach landing, and a kick asss hot tub and sauna. Outdoor wet bar is partially enclosed with referigerator, kegorator, and incredible stereo system. The market stalled and now his MV is less. Every week, his wife gets her hair, finger/toe nails done. I believe he does too when he's not overseas. He drives around in an incredibly expensive car, yes, making payments on it. This guy just burns through cash like 2012 is the end of the earth. yes, he makes a boat load of cash, but there is no guarantee that it will continue. If his income stream falters, then what? bankruptcy?

My old man brought my brother and I up to know that you don't make any major purchases like nice cars or expensive houses unless you got enough money already in the bank to live for a year without any income. That guy loses his job for whatever reason or gets majorly ill and can't work, they're seriously fvcked.

And you know what, you really don't have to live without or drive around in beat-up old cars either. It's just a matter of planning out and saving up for the things you want. You might have to wait awhile to get it, but you'll eventually get it. These people who buy stuff on credit, those debts keep growing until people are at the point where they can't afford to go to a nice restaurant anymore or retire early or even use their vacation time to go on a nice trip. Eventually you can't buy anymore stuff and all you can do is make the minimum payments.

[auswest]

if you made $200,000 grand a year, what kind of lifestyle could you live? obviously it would be a good one. but im asking the specifics

house, cars, etc..


i have a job opportunity that may allow me to get this kind of money, im young and not too familiar with what fiances can buy you in terms of the long run.

I make that now, and my lifestyle has not changed since i was an apprentace earning $6 a hour, however, i dump 1500$+ a week onto my mortgage, so in 3 years ill have all that money as a disposable income, ill let you know in a few years =P. i cant stand the though of spending money and living it up while i have a mortgage hanging over my head. get that out of the way then live the life.. fk working for the rest of your life forever paying shit off. earn the money and do the hard yards own everything then live the life.
i see people piss this money away all the time. but at the end of the day, theyre going to go into retirement still working with debt. set yourself up for the future and dont forget where you came from. you dont need a million dollar house and car to be happy..happyness for me is finanical freedom!

[Shol'va]

they can, but only in certain states

Like you said it all depends upon what state you live in as to who can get what. That is the one drawback to not being recognized as a married couple, but I still really don't need a piece of paper to say that, just a good lawyer to protect my interests..

[warchild]

I make that now, and my lifestyle has not changed since i was an apprentace earning $6 a hour, however, i dump 1500$+ a week onto my mortgage, so in 3 years ill have all that money as a disposable income, ill let you know in a few years =P. i cant stand the though of spending money and living it up while i have a mortgage hanging over my head. get that out of the way then live the life.. fk working for the rest of your life forever paying shit off. earn the money and do the hard yards own everything then live the life.
i see people piss this money away all the time. but at the end of the day, theyre going to go into retirement still working with debt. set yourself up for the future and dont forget where you came from. you dont need a million dollar house and car to be happy..happyness for me is finanical freedom!

preach it bro! we sound alot alike

[kif]

I think it all depends on where your living. The cost of living changes drastically for each area you look. For my wife and I, we just bought a 2700sqft house 3.5 acres, land has an in ground pool a pool house and a 4 car garage, our property sits on a large hill overlooking one of the nicest golf courses in the area. We paid $260000. A friend of ours just came home for a visit from SD he said he knows a couple in SD that just sold there house similar to ours for just over 3.5million. So for me I make just under 200000 a year and live great, but someone that lives in say Chicago, or SD 200000 isn't shit.

[lovbyts]

Like everyone is saying, the more you make the more you spend most of the time. I had more excess money when I was 21 making $30K than now at almost 50 making $100k+

10% is nothing but it's a good start and batter than nothing. I was putting 25% at one time into my 401K until I decided to drop it down to 10% and finish paying off some bills. Hopefully back up to 18% soon. If it wasnt for life getting in the way screwing things up a couple of times with being laid off work for 1+ year at a time and a couple of marriage (ex) issues I would be sitting pretty good since I started saving 10% of each paycheck via 401K since 1986 but had to use it and start over a couple of times and again 6 years ago with zero.

Best thing you can do is save 15% or more and increase it with every pay raise so you dont see the increase if at all possible and always pay for everything you can in full, no debt. That does not mean you cant build credit with a credit card if you are smart. I put $6k a month on my credit card frequently but I pay it off in full each month so I dont acquire interest and gain air-miles. Always look at the stock market the same as gambling. Never put more in than you can afford to loose. I watched $6K+ investment go up to $250K and back down to nothing in less than a year back in 1990. Sucked but didnt hurt me financially. Busted a few dreams though. lol

[drake25]

wow i really appreciate all the answers, definetly copy and pasted most of these responses to a word document to re read sometime in the future, perhaps if i feel tempted to buy a mercedes, or try to show off buying something ridiculous.

one of my parents didnt do what you guys are preaching right now, saving, and i saw them go from living a very luxurious lifestyle to one of despair. it was horrible and till this day, very sad. i told myself ill never let that happen to me, ever. thanks again guys.

[tcw]

Some of the wealthiest people that i know...live non-extravagant life-styles.

One of my best buds---consistently knocks down over 1mill a year---but drives a regular unassuming Hyundai and lives in a modest middle class neighborhood.


His wife however is a different story.

[gixxerboy1]

i agree with saving some money. Trust me i wish i saved more. But you only live once also. I want to do vacations and stuff while im young also. You need to find a balance

i had a co worker that made very good money. He would max out his 401k's save every penny. He drove old cars, would go with out stuff that he really wanted and had cash to pay for. He always said he would retire young and would enjoy all the money then. We i said some things you can do when your older or enjoy doing as much, Well he died at 42 from a heart attack. So he didnt really enjoy his life to have a good life later. And it never came. Tomorrow isnt promised

[tcw]

Wow...

No guarantees (sigh).

i agree with saving some money. Trust me i wish i saved more. But you only live once also. I want to do vacations and stuff while im young also. You need to find a balance

i had a co worker that made very good money. He would max out his 401k's save every penny. He drove old cars, would go with out stuff that he really wanted and had cash to pay for. He always said he would retire young and would enjoy all the money then. We i said some things you can do when your older or enjoy doing as much, Well he died at 42 from a heart attack. So he didnt really enjoy his life to have a good life later. And it never came. Tomorrow isnt promised

[Get hench Die Trying]

What kind of jobs do you lot have to be able to earn 100k+??

[Renesis]

I always live under my means if I can. On small things if I don't have double the money to pay for it outright I won't buy it. If I picked up a job right now that made 200k a year I would live like I do now making 25k a year. I would stay in a small apartment making 400 dollar a month rent payments and just straight BANK that money. After several years I would pay a house outright get a nice car and that would be as far as my spending went and then just live normally.

[Razor]

Some of the wealthiest people that i know...live non-extravagant life-styles.

One of my best buds---consistently knocks down over 1mill a year---but drives a regular unassuming Hyundai and lives in a modest middle class neighborhood.

His wife however is a different story.

Warren buffet lived in the same house the last 60 years..bill gates gets a $8 haircut ..and my rich old Grandpa drives a impala ..somethings never change

[wmaousley]

I have 3 vehicles, 2 new and my favorite 1997 EB Expedition. Its all I drive because it costs less to maintain than damn german made vehicles.

[Honkey_Kong]

The thing is you can still have nice things, just plan your budget out to save for those things.

[DanB]

i agree with saving some money. Trust me i wish i saved more. But you only live once also. I want to do vacations and stuff while im young also. You need to find a balance

i had a co worker that made very good money. He would max out his 401k's save every penny. He drove old cars, would go with out stuff that he really wanted and had cash to pay for. He always said he would retire young and would enjoy all the money then. We i said some things you can do when your older or enjoy doing as much, Well he died at 42 from a heart attack. So he didnt really enjoy his life to have a good life later. And it never came. Tomorrow isnt promised

I couldnt agree more because all you have when you die is your memorys


“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!”
― Hunter S. Thompson

[John Andrew]

I have been there done that, Made millions and lost them. Lost women who thought I would die without money! Now I live with enough in Thailand. I have a beautiful wife. Teach and get pleasure from it and love the gym.

Life is about happiness, you cannot buy that. You think you have all the illusions and can fool yourself a long time. You want to be happy. ATTITUDE! I know I can have everything I need. Maybe not all I would want but, I once wore a ring that was valued at over $1,000,000 I was a pretentious prick. ****ed every body because money was the goal. i just had to have more.

I thought I impressed people playing blackjack at $5.000 minimum bet, won heaps, lost heaps, was i happy? No, Just bored and knew I was doing nothing good with my life.

Money is nice, poverty is shit. Balance and a good attitude will allow you not to become what I became. Good luck. John

[Honkey_Kong]

I couldnt agree more because all you have when you die is your memorys


“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!”
― Hunter S. Thompson

I'm a huge Hunter fan.. He changed his tune quite a bit when he arrived at the old Psychiatrist's club only to find out the American dream he was chasing after was gone and all that was left was a burned-down empty lot.

[SEOINAGE]

I'd design and build my own house. Nothing too crazy fancy but something that would fit our needs better and in the future, as well as have enough room for a shop and a few other things, and in a bit cleaner neighborhood.

Would drive the same cars, except I would save up to buy a newer car for driving to work, pay cash of course, something fuel efficient but not so beat up as my car. I'd work really hard to stay debt free, so that instead of each month most of your money going to predetermined places it would be able to be saved and used for other things we need.

Do you get insurance with this job, because that will drop things down significantly.

For me taking the job I have now I thought everything would be less stressful and we would have all the basic things we need. I don't make anything even close to that, but still it was a big jump, and yet it still wasn't enough to get me where I expected. You expectations are usually always higher.

[awms]

It really depends on were you live? 200,000 in NEW YORK or L.A will make you comfortable, you will have an avg. house, drive a nice car, and it will allow you to take vacations, and buy nice clothing but its not by any means going make you live any kind of crazy life style! you will be very comfortable but not rich.

That being said, if you live in a rural area or a mid size city (million or less) the cost of living will be cut in almost half so it will allow you to live in a much larger house, drive a much nicer car, golf at much nicer glof courses. No matter what anyone in here tells you 200,000 is a lot of money! unless you are living in a very large urban area and then you are slightly above average.

My father and mother live in a very large city! (3,000,000 people) and the avg house price is $500,000, they both make around 150,000 a year and are no were near rich! they live an avg life style, they have a nice newer 3000 sq home, but nothing crazy, and they have a mortgage. I would say an avg person who lives were my parents live would make about 100,000 to 150,000 and I don't think you could afford to live there and own a house if you didn't make at least 70 to 80 grand a year and even that would be pushing it!

Its all relative! people would look at what my parents make and think "Wow! they make so much money!" but it would be like making 70 grand in a smaller city, plus they work their asses off non stop! I sometimes think they would be better to quit their jobs, move to a small city, have less work and make half the money.

[warchild]

i make 50-60k a yr but ive paid off my house and truck with no credit card debt. what a great feeling. i try to stash away 500-1000k a month to pay off another house. i live happy and get all my clothes at target or on sale. never understood how a few yrs ago when that brand affliction was soo popular and guys were blowing 70$ a shirt.

[gixxerboy1]

i make 50-60k a yr but ive paid off my house and truck with no credit card debt. what a great feeling. i try to stash away 500-1000k a month to pay off another house. i live happy and get all my clothes at target or on sale. never understood how a few yrs ago when that brand affliction was soo popular and guys were blowing 70$ a shirt.

everyone has different priorities and things that make them happy. Like i said you should have a saving for emergencies.
money is only good if you spend it. it does nothing for you otherwise.

[warchild]

everyone has different priorities and things that make them happy. Like i said you should have a saving for emergencies.
money is only good if you spend it. it does nothing for you otherwise.

it does if you've never had it.

[gixxerboy1]

it does if you've never had it.

what does it dp? you can look at your account and say ohh i got x amount in there. You are not enjoying it. and if your afriad to spend its virtually useless