4 Men with 4 Very Different Incomes Open Up About the Lives They Can Afford

People in here saying the millionaire should be chillin by now, really? How do you think dude became a millionaire? Not by chilling.

It's in him. He just has that drive (said it himself, wont ever really retire)
 
Antidope said:
 
RobTooFresco said:
 
Antidope said:
Someone told me something similar to that statement above and it stuck with me, same statement I made above. "Your compensation/the money you have is life's report card". Your value to an organization is directly reflected in your comp and to some extent it applies to your life as a whole.

I would say making enough to be comfortable and the amount at which you exceed that comfort are of equal importance.
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Got to give value to earn value.

EDIT: I just realized who I agreed with
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You act as if I don't speak the gospel consistently.
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except for entertainment related opinions I agree with you most of the time 
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BeezyGotSole said:
@spizike231
I don't believe Tim's house has anything to do with him retiring his parents. The home is paid off and he makes 1MM/yr.
He bought a house well within his means, how many people can buy houses that cost their yearly salary?
Not many, because in most areas it doesn't exist.

Outside of the south of course, because it is very possible there.
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Yeah that's never going to be an option for me in Cali

Given student loans, costs like private school, desire to travel I'll definitely be in the boat where ~300-400Kn won't feel like enough if I stay in Cali. Not even trying to have a huge house or fancy whip either. I just want to live a comfortable life near my fam in a good neighborhood
 
youngdoc said:
Yeah that's never going to be an option for me in Cali

Given student loans, costs like private school, desire to travel I'll definitely be in the boat where ~300-400Kn won't feel like enough if I stay in Cali. Not even trying to have a huge house or fancy whip either. I just want to live a comfortable life near my fam in a good neighborhood
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300-400k will be plenty,
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. Maybe you won't be ballin' in the bay area or newport beach, but everywhere else, you're going to live VERY comfortable.

My friend just became an attending. 120,000$ sign-on bonus at Kaiser.

There are several loan repayment programs in "shortage" areas that the hospitals offer as incentive, the standard seems to be 25k loan repayment per year (from the hospital) when you contract with them. You can join the army and they'll pay it off. You got options
 
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Pdino said:
youngdoc said:
Yeah that's never going to be an option for me in Cali


Given student loans, costs like private school, desire to travel I'll definitely be in the boat where ~300-400Kn won't feel like enough if I stay in Cali. Not even trying to have a huge house or fancy whip either. I just want to live a comfortable life near my fam in a good neighborhood
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300-400k will be plenty, :lol: . Maybe you won't be ballin' in the bay area or newport beach, but everywhere else, you're going to live VERY comfortable.

My friend just became an attending. 120,000$ sign-on bonus at Kaiser.

There are several loan repayment programs in "shortage" areas that the hospitals offer as incentive, the standard seems to be 25k loan repayment per year (from the hospital) when you contract with them. You can join the army and they'll pay it off. You got options
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I'm not joining the army :lol:

Not many loan forgiveness options for a radiologist especially since most end up working in private practice.

And yeah radiologists in LA aren't getting 120K bonuses especially not at Kaiser. Kaiser isn't even offering full time positions.

Family is in LA so not even worried about the Bay. You have 3 bed 2 bath places going for 1 mill + down here.

Never insinuated I'd be struggling, I said it wouldn't feel like enough given what I want for myself and my family. And FTR I'm not referring to starting salaries in that range, that would be amazing, talking about long-term.
 
I just re-read the article again.

Why isn't there someone in the $100k-150k range?
 
The difference between that and the 60k guy isnt enough to write about. The lifestyle change can be interpreted as negligible. It's gotta be huge income jumps.
 
Antidope said:
 
The difference between that and the 60k guy isnt enough to write about. The lifestyle change can be interpreted as negligible. It's gotta be huge income jumps.
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Fair point.

Also notable is they included the common theme of all 4 dudes having kids. Guess it'd be much different if it was a single dude making any of the salaries mentioned.
 
the 250k guy is living comfortably. Has 7,000$ Fixed expenses/month.

2k Rent, 1k transportation. Vacations, traveling, gas,  cleaning lady, 300$ worth of subscription services make up the remaining 4,000$
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the rich dont have much debt or any financial problems unless they are trying to make even more money and the poor are struggling

nothing surprising tbh besides their own personal little things like tim being a millionaire but cant retire his parents yet :lol:
 
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youngdoc said:
It depends on the city. 40K would change my life dramatically right now bc of how expensive LA is.

http://www.gobankingrates.com/personal-finance/much-money-need-live-comfortably-biggest-cities/

Most cities it wouldn't matter but there are some coastal ones where it would.
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 ....$74K in LA?  I think not. Housing is so much of a wildcard here. Even if you rent, expect to pay $2K / mo in a decent neighborhood and more if you have a family (and need extra space). Also, this article must not be factoring in income taxes. A $74K salary in CA would cost you about $21K in income/state taxes. I know a lot of people around here make due with less. My point is $74K is definitely not a comfortable salary out here. 
 
I agree.

Numbers might be off but I just wanted to illustrate the differences between cities. 100K vs 60K is life changing in some cities
 
Playing 4 Keeps said:
During my broke younger days, I learned to be frugal and how to stretch a dollar. As my income has grown as I get older, I still am frugal with my money and never pay MSRP on anything.

The problem with most people is that they feel they have to spend and buy things that reflect their income so they can project an image to strangers which is corny to me
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This

Being at the bottom when i quit ups (boss was a prick not giving me hours) I was jobless for 3 months. Still in school but still. No money. Plenty of nights I had sleep for dinner

Taught me the value of money

Even tho i have decent money now and can get things I don't. Nothing wrong wit being cheap imo

To an extent
 
Xennial Xennial

Yeah I can only speak for my situation but 60K isn't great in LA with all the costs that come with residency. I have a roommate, drive a Honda, don't pay any student loans and I still feel like I'm somewhat struggling.

My fiancée won't be making as much as me once I finish even if I end up on the low end. It's not about living a lavish lifestyle it's mainly about being able to afford a decent home in a good to great neighborhood. Don't want to pay LA prices w/o getting the full benefits of LA. I'm not complaining though, it's a personal choice. I rather have a higher salary and cheaper home out of state than to pay for an overpriced place in the IE for example.
 
Pdino said:
the 250k guy is living comfortably. Has 7,000$ Fixed expenses/month.

2k Rent, 1k transportation. Vacations, traveling, gas,  cleaning lady, 300$ worth of subscription services make up the remaining 4,000$ :lol:
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^This man knows

Yakov Villasmil (second profile, 250,000 annually) is doing it.

In the specific guidelines of this article and what is presented to the reader, if I had to choose between him and Tim, it's Yakov all the way.

"Heavy is the head that wears the crown". Homie (TIm) can't sleep soundly on a regular basis.

Someone mentioned he is richer than Yakov in a shorter amount of time, Yet Yakov seems to have much more piece of mind. It's good to hustle but you it's just as good to find long lasting fulfillment. At least to me it is. Someone is always going to have more than you. And on the low the person who "has it all" needs/wants something every "poor" person takes for granted.
 
youngdoc said:
 
Antidope said:
The difference between that and the 60k guy isnt enough to write about. The lifestyle change can be interpreted as negligible. It's gotta be huge income jumps.
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It depends on the city. 40K would change my life dramatically right now bc of how expensive LA is.

http://www.gobankingrates.com/personal-finance/much-money-need-live-comfortably-biggest-cities/

Most cities it wouldn't matter but there are some coastal ones where it would.
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Kinda wavy im only a couple K short of 'living comfortably' in my city at 21.

Can't wait for my promotion and to graduate.
 
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