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Old 12-03-2017, 08:25 PM   #61
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Some of you might be interested in some discussions that are occurring in the Data is Beautiful reddit here: https://www.reddit.com/r/dataisbeautiful/

People from all over the world are using Sankey diagrams to show how their monthly or annual income is spent. It's quite interesting to be able to visualize some of the differences in lifestyle and priorities.
Cool. This one happens to be $100k in Seattle, USA
https://www.reddit.com/r/dataisbeaut...actually_used/

It's interesting that they break federal taxes into uses.

Thanks for the link.
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Old 12-03-2017, 08:25 PM   #62
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Oh wait! There is.

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Old 12-03-2017, 08:26 PM   #63
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$100K in a high COL area isn't a lot.

In the Boston area you've got $10K in property taxes, another $5K in local taxes and utilities (car excise, boat excise, general sales tax (6.25%), fees, heat, electricity, cable etc.) At $100K that's $5.1K in income tax. If you don't own outright, rents are steep ($2K per month in decent suburbs is considered cheap/reasonable).

Add $15K in health care and another $6K in insurance and you're already up to $40K and you still haven't bought food, clothing, paid for a car or mortgage/rent (if you have them) or for fun stuff (meals tax 6.25%). Heck, the parking meter in my little town costs 75 cents an hour.
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Old 12-03-2017, 08:27 PM   #64
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I get a kick out of living in the Bay Area and having relatively low expenses. It has become a hobby of mine. We usually go to live events a few nights a week but most of the time it is with some kind of Groupon, happy hour special, seat filler or preview ticket. The bargain hunting is half the fun for me and helps keep our long term withdrawal rate pretty low.
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Old 12-03-2017, 08:33 PM   #65
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Would you be amenable to live in a dumpster if it has AC?

Is that the latest tiny home fad?
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Old 12-03-2017, 08:41 PM   #66
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Would you be amenable to live in a dumpster if it has AC?

Wow! Very tempting. I wonder if it has a potty and shower. Ha, I know it there is probably a trap door that will lead you to a 10,000 Sqft basement that would blow your socks off...
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Old 12-03-2017, 08:42 PM   #67
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Is that the latest tiny home fad?
No, it's a creation by Professor "Dumpster" Jeff Wilson.

You can read more about him here: https://en.wikipedia.org/wiki/Jeff_Wilson_(professor).

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Cool. This one happens to be $100k in Seattle, USA
https://www.reddit.com/r/dataisbeaut...actually_used/

It's interesting that they break federal taxes into uses.

Thanks for the link.
One quick look and I saw: $50/month for hair cut, $300/month for clothes, $150/month for apps (?), $210 for games (?), etc... These have nothing to do with living in Seattle, and can be expenses for anyone anywhere so inclined to spend on these items.
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Old 12-03-2017, 08:49 PM   #68
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Oh wait! There is.

Come to think about it, not enough room for my Magneplanars so, I'll have to pass...
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Old 12-03-2017, 08:59 PM   #69
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I was fortunate to live and work in a place where a modest income goes a long way if you're not foolish, and I guess I was also fortunate enough not to be financially foolish.

Choosing a hobby that's basically "free" after the initial outlay of gear helps too. Rehearsals, practicing, and jamming cost nothing, and this year I'll earn more gigging than I spent on strings and other musical needs.
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Old 12-03-2017, 11:06 PM   #70
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......
One quick look and I saw: $50/month for hair cut, $300/month for clothes, $150/month for apps (?), $210 for games (?), etc... These have nothing to do with living in Seattle, and can be expenses for anyone anywhere so inclined to spend on these items.
No wonder some folks have trouble, I never spent $300/mo for clothes, that is $3,600 a year.
Sure I have about 120 shirts right now, but that is over years, and many of them cost $9.99 each. Pants run me $15 to $30.

I was always one of the better dressed folks at work as it doesn't take a lot of money to dress decent.
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Old 12-04-2017, 06:19 AM   #71
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Well, if one's definition of 'fun' includes activities that take place on a ocean beach, in tall piney mountain, and the desert, all while living in a relatively temperate climate, you can't go far wrong with many parts of California.
Thank goodness we have the humidity in North Carolina. Keeps those desert seeking wimps away.

Sure, we have mountains and unbelievable coast, but you really don't want to come here. Stay away. The humidity is *terrible*.
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Old 12-04-2017, 06:31 AM   #72
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I've noticed that the posts in this thread that talk about how understandable it is that $100K is hard to live on also talk about a lot of elective expenses - supporting college-aged or adult children, wanting to live in certain areas, etc. It still all comes down to choices, which is fine. We all make our choices, I just wish people would stop complaining about the choices they make like they were laws of nature somehow (no one here, just in general).

And advertisers can suck every dollar/euro/pound/yen/etc. out of your pocket no matter if you're making 50 thousand or 50 million, so if you let it, it's always "hard to get by".
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Old 12-04-2017, 07:22 AM   #73
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I think, in the U.S., if you subtract the cost of housing (by having a paid for house) and health insurance/costs, then it becomes very feasible to live on less than 100K a year.
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Old 12-04-2017, 07:57 AM   #74
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ugh...you mean this year I cant take a bath once a week in Cristal?
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Old 12-04-2017, 08:38 AM   #75
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No wonder some folks have trouble, I never spent $300/mo for clothes, that is $3,600 a year.
Sure I have about 120 shirts right now, but that is over years, and many of them cost $9.99 each.
I can do better than that- I mostly wear freebie T-shirts from athletic events, volunteer activities or with logos of former employers. Just got a new one from the blood bank last week.

I spent a lot on clothing to wear to the office and don't regret it; the good stuff lasts for years (I have decade-old cashmere sweaters) and it's motivation to keep my weight down. Last year DH and I spent $300 COMBINED on clothes. This year it was just me and I spent $550 but that's because I hit Chico's to celebrate after my portfolio crossed another multiple of $1 million. Besides, everything was 40% off!

But, to get back to the OT- yes, a lot of it is choices. On another discussion board I follow, a guy who manages a grocery store says some of his employees have $700/month car payments.
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Old 12-04-2017, 09:24 AM   #76
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. Even so, we drive 11 year old cars, don't own a boat or a plane, and only own one home which is actually a 1,600 sq ft condo, not a huge SFR.
Gadzooks! This is living like the primitives!

or

perhaps: experiences > more stuff
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Old 12-04-2017, 09:33 AM   #77
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THis is all different strokes for different folks. It’s all priorities lifestyle, location, socializing etc. Doesn’t make anyone right and anyone wrong

Some people would rather live in the big city with the fancy kitchen and restaurant bill than save up to retire. Their choice !
Agree. I say “spend and let spend”. Most people get comfortable spending what they have but I try not to view my spending priorities as appropriate for others.
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Old 12-04-2017, 09:41 AM   #78
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I was needling my sister for her ridiculous cost of living including two $ million+ homes, a personal Learjet 45, a fleet of Lexus automobiles and paying $80k a year for grandchildren private school tuition. Her granddaughter flies in the jet with her friends to rock concerts.

Her answer was, "Some people's sense of reality is just different from others."

And I see too much golf being played, too much alcohol consumed and a number of their best friends are dying at 70 years old. Careless consumption is just not healthy.
And everyone knows that rich people consume carelessly and here we are all salt of the earth and god is on our side.

I think all people like to assume that their personal way is best, unless they can complain and get other segments of society to pick up the check for them. Which as we know works for large numbers of people.

Ha.
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Old 12-04-2017, 09:48 AM   #79
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All spending is "choices".

Do we choose to buy the cheapest food that will keep us alive? Food that we like the taste of but is still relatively inexpensive? Champagne and caviar style meals 3 times a day?

Do we choose to live in a Mcmansion in a HCOL city? A tiny home in the rural south 4 hours from the nearest "big city"? A moderate sized home in a suburb?

Do we choose to buy our clothes at Goodwill? Walmart? Georgio Armani?

Do we choose to only walk/bike or use public transportation? Drive a used low-priced sedan? A BMW? A Ferrari?

Do we travel across the street to the park or just stay home for our vacation? Fly economy to a discount hotel a couple hours away? Fly first class to a 5-star resort on the other side of the world?

People can, and do, "live happily" on a $15k/year budget in the United States, so it can be done. My 2nd year "on my own" I made the equivalent of ~$19k in today's dollars and I enjoyed my life back then. Today, I'd feel I was practically destitute if I had to get by on such an income. Hell, if I made twice that amount I'd have to significantly alter my current spending/lifestyle.
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Old 12-04-2017, 09:52 AM   #80
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Agree. I say “spend and let spend”. Most people get comfortable spending what they have but I try not to view my spending priorities as appropriate for others.
Great viewpoint! I consider that we live modestly, but I am surprised at the low annual spending mentioned on the board. It does help me to be aware!
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