The game is rigged. 100k is still not enough, and that is crazy.

kevm3

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I promise you this is not a brag thread but one to open the eyes of people pining for that six figure salary. It truly is not much at all to break 100K. I make well over 100K and it still takes me an incredible long time to amass any type of formidable capital, other than financing it. Which just should not be the case. If the crucial things in life, for example, a house (or any property, condo, etc.) and a car, require the vast majority of people to have the money loaned to them, something is very much wrong. I couldn't imagine doing it on half my salary let alone my current one.

I have it in a spreadsheet and track everything in and out. On a base level, after all expenses I am able to save $2000 a month. That's with maxing out my 401K. I also put $500 a month into the stock market. $2000 a month is $24000 a year. The average cost of a house last year was 280k. The average cost of a car is $40k. Sure you can buy the car used but who is going to buy the new car so that it becomes "used?" You're or someone else is forced to take a loan from a bank that you'll be paying on for YEARS and be plagued by interest.

Mind you, only 10% or so of people make 100K or more in the US. What is everyone else doing? How is everyone else surviving? It just doesn't make sense. I am blessed to be in the position I am so I am able to save what I am able but what about 90% of the rest of society? So maybe someone who is smarter than me can explain to me how this all works. As of 2019 the US median income is fukking 32K. :mindblown:

Six figures isn't the 'balling' that it once was. It's something akin to a middle class existence in a lot of big cities. I don't see how people are surviving. In those cities where people are making 100k+, the cost of everything is flying up so fast it's almost as if you haven't made any real progress. For example, in dfw, the price of some houses rose 100k in ONE year. If you want a decent looking house that's reasonably close to the jobs, expect to pay from 400k to 500k. Those people who got in early are now being punished with obscene property taxes as the value of their house skyrockets. The prices of cars are shooting up. The price of food is shooting up. Salaries aren't. I really don't get how people are surviving unless they are just rooming up together.
 
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If you grew up without a lot of the time, you've seen money get stretched

By your numbers you have a lot of capital, your issue is expecting it to go further than you thought

Why should it not? The median income is much lower. Something is wrong with that. if things cost much much more than the average person is able to afford...something is wrong. I'm not an economist but something is fukking wrong.
 
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How would I know you max out your 401(k) and save 24k a year if I hadn't read your post? :dwillhuh:
And what did I say that was funny?

Let's not be disingenuous. You ended your post with, brehs, for comedic effect.

" How is everyone else surviving? It just doesn't make sense. I am blessed to be in the position I am so I am able to save what I am able but what about 90% of the rest of society? So maybe someone who is smarter than me can explain to me how this all works. As of 2019 the US median income is fukking 32K."
 

kevm3

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Breh I make 85k and I feel rich..

Once magazines start hyping up Cleveland due to cheap cost of living and all of the tech companies start relocating there and hence half of California and New York start going with them, then things will change rapidly. The same house that was 250,000 will now start selling for 500,00 to 600,000 in the span of a few years. Here, in DFW, the same house that was selling for 400k is now selling for 500k in one year. Austin is even more overpriced.
 

BaldingSoHard

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Let's not be disingenuous. You ended your post with, brehs, for comedic effect.

" How is everyone else surviving? It just doesn't make sense. I am blessed to be in the position I am so I am able to save what I am able but what about 90% of the rest of society? So maybe someone who is smarter than me can explain to me how this all works. As of 2019 the US median income is fukking 32K."

I can see how you thought that, but it wasn't that.

IMO, the "brehs" signoff is to indicate a ridiculous premise.

But I digress.
 
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Max out your 401(k) and save $24,000 a year and still claim it's not enough, brehs.

$19,500 in pretax money to 401k leaves you with $80,500 (assuming you just make $100k)

Assuming a modest effective tax rate of 15% for federal, state and city as applicable, that would leave you $68,425. Breh is saving $24k a year and throwing $6k/year at the stock market = $30k. Breh is living comfortably enough to throw 44% of his post tax income at savings/investments and in here acting like he’s barely scraping by :dead:
 

King Poetic

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Let’s be real. And speak outside of the coli

when it comes to black men overall

medium income is around 41/42 k a year

only about 3 to 4 % is making over a 100k and about 10% of men overall is making that much

Good for u and what u doing, but majority of people don’t have the education or the luck to make that much
 

Germms

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Once magazines start hyping up Cleveland due to cheap cost of living and all of the tech companies start relocating there and hence half of California and New York start going with them, then things will change rapidly. The same house that was 250,000 will now start selling for 500,00 to 600,000 in the span of a few years. Here, in DFW, the same house that was selling for 400k is now selling for 500k in one year. Austin is even more overpriced.
I agree. TBH it needs to happen. The housing market in Cleveland is trash (to me). I highly doubt that'll happen though. No one wants to come to Cleveland. It would've been happened by now.
 
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Fam, I dont get this thread at all, OP. You are saying that you save as much as the MEDIAN INCOME in the United States ($30-32k/year) and made a thread to complain that this is still not enough.

What is your end goal? What are you really trying to ask/get answered? This isnt gonna end well for you.

"Mind you, only 10% or so of people make 100K or more in the US. What is everyone else doing? How is everyone else surviving? It just doesn't make sense. I am blessed to be in the position I am so I am able to save what I am able but what about 90% of the rest of society? So maybe someone who is smarter than me can explain to me how this all works. As of 2019 the US median income is fukking 32K."

I fear there is a bubble that is going to eventually burst.
 

getmoney310cpt

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Lol these humble brag threads with fake concern “how are you surviving on less than 100k” like every cities cost of living is the same..

and then crying about saving 24k a year is how I know you trying to troll and flex I feel you though the internet is the best place for a confidence boost :yeshrug:
 
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