What’s good money to you

[DTI0384]

I'm more interested in hearing what y'all are doing to bring in 100+, 150+, 200+ etc.

Wife is a senior managing attorney at a workman's comp firm, she protects the companies she represents from false or egregious injury claims.

I own a Union Electrical and Low voltage shop that has contracts with the state and school districts, I average a 35% net profit margin, I instill a US vs Them attitude in my employees, and reward then with handsome year end bonuses, 8k-20k depending on the level in the company.
Only 18 total employees counting office workers also

[Hydro870]

Good money in the Midwest, Central, and South/Central U.S. (flyover States) is probably anything over $200,000 per year as an individual income. With this you can have one spouse stay at home to raise the kids, send your kids to private school, keep newer vehicles in the garage with a boat, live in a nicer neighborhood, and save for an early retirement before 60.

[KennyVexus]

I read an interesting study a few years back that asked people if the felt "wealthy". There were people who made 40k a year that felt wealthy and people that that made 250k and did not. The term "good money" would be all in who answers. I think good money would be six figures in the cost of living in my area.

[ttranger]

I read an interesting study a few years back that asked people if the felt "wealthy". There were people who made 40k a year that felt wealthy and people that that made 250k and did not. The term "good money" would be all in who answers. I think good money would be six figures in the cost of living in my area.

You have confirmed what I said earlier - "good money" means a lot of different things to different people. Some people chase money their whole lives because that makes them feel more secure. One of the guys I worked with for years was like that - he had millions of dollars but he was a nasty and miserable person. I'd rather have less and enjoy life more.

[LTZ25]

Thank all of you , I make $80,000.00 a year plus bonus as a senior investigator with the IRS .

[paulrodbender]

Thank all of you , I make $80,000.00 a year plus bonus as a senior investigator with the IRS .

Oh, in that case..... I make less than 20K

[lakefolk]

a lot of BS in this thread..

[218_fishing]

Wife and I are under 120k a year, with 2 kids 8 and 3. It is so hard to make it, but we find a way.

[skeeterator]

You have confirmed what I said earlier - "good money" means a lot of different things to different people. Some people chase money their whole lives because that makes them feel more secure. One of the guys I worked with for years was like that - he had millions of dollars but he was a nasty and miserable person. I'd rather have less and enjoy life more.

I have a co worker in his early 70"s thats pretty happy go lucky, easy to talk to and generally a really happy little guy. He's debt free, lives in very small home and works simply to have something to occupy his time. His net worth is now over $5 million but you'd never know it unless you really got to know him and he opened up to you. He actually teaches a financial class at a community College. Just has a high school education but learned everything he could about investing and how the stock market works years ago and has been wise with his money.

[T. Hill]

Also depends on how you choose to live.

My wife and I are retired. Our tax advisor just notified us we’ll be in a position this year where we’ll pay no federal or state tax. We live modestly yet have what I need to live comfortable. Being blessed and good financial planning has allowed this for us.

[ProVle]

Thank all of you , I make $80,000.00 a year plus bonus as a senior investigator with the IRS .

The wife is retired IRS Director of C.I. fraud detection unit. Let's just say she has done very well.

[LateralLine]

Now we make $200k and feel like we're barely getting along. No debt and a 1k rent payment for our townhouse each month and it seems like we're gonna have to pay cash to buy a property to build on.

I don't even feel like where matters but Really?

[cwenbass]

Principals are the new under the radar millionaires. Make $130-165K in North Jersey and often do side jobs like speaking and advisement to other districts. That and a great pension program where you can then double-dip into neighboring state and do it all agin equals nice salary and retirement.

Dave Ramsey likes to cite that the two most common professions among millionaires are/were teaching and engineering. Engineering makes sense if you consider that it generally pays well and the type of people that become engineers are also the type to be very disciplined and pragmatic in how they spend, invest, etc. Unfortunately, I've never heard him explain how teachers get there. I guess professors are teachers as well so they might pull the avg. income upward but teaching is not where most people go to get rich. Is it the pension? Does it allow for lucrative side hustles? Selling grades?

[jtlucas]

A good bit of it is expenses to run my rodeo business. The rest goes straight to savings for a down payment on property.

Just curious, what do you spend $188,000 a year on?

[bassnpro1]

My answer:

https://www.bbcboards.net/showthread...1255841&page=3

[jtlucas]

Barely getting along to me is a mentality and feeling. I lost my childhood home to foreclosure as a freshman in HS so I honestly don't think making 7 figures a year would feel like enough. We worked our tails off to pay 100k in student loans in 4.5 years with car notes at 0%. We're blessed to be "comfortable" but I don't think any amount ever feels like enough.

no offense but if you make 200k a year, have no debt, only pay 1000 a month for rent, and are fortunate enough to have enough money that paying cash for property and building a house is even an option, you’re not “barely getting along”…

im a licensed engineer, and my wife is a teaching assistant. we barely bring in 100k a year. our mortgage is about what your rent is. We have no credit card debt but 2 car loans, roof repair loan, pop up camper loan, my student loan and daycare… we are “getting by”, it’s not comfortable but doable.

I’d think if we pulled in double what we do now we’d never be concerned about “barely getting along” unless we are living well outside our means

[dstep0]

Interesting thread. I know it's been stated a bunch but this group is going to be a high income bracket with disposable income but still pretty wild to read the some of the numbers thrown out.

[maryglo]

About 100k is a good profit. Such funds can be obtained thanks to good advertising and investments that contribute to business improvement. Together with custom AdTech development services https://teqblaze.com/ , you can get such a profit, because the company will expand the business and it will be a very good capital investment

[LTZ25]

The wife is retired IRS Director of C.I. fraud detection unit. Let's just say she has done very well.

I'M not doubting that , happy for her .

[fishingram24]

My wife and I are retired, 4 grown kids, all doing well, house was paid off several years before retirement, and 1 car note and, of course, paid cash for my new boat in 2020. We had a gross of just over 100 last year and can pretty much do whatever we want so I say we are very comfortable with that.