What do you consider "good money"

[txpitdog]

Living below your means and budgeting for the finer things in life can make you feel wealthy and very blessed.

[Palmetto]

I am humbled at some of the responses. Thank you.

I am blessed. Nice home, wife has a nice vehicle , trophy wife that stays home with our 2 boys, & more toys than any one man really needs.......

[Buckwheat]

I have raised a family of 7 for the past 3 years on 40k/yr. I think good money is anything you work for and that gets you what's needed to take care of yourself/family. Cars are payed for and we have a roof over our head ad clothes on our backs. I couldn't ask for anything else.

[Ballcoach10]

I have raised a family of 7 for the past 3 years on 40k/yr. I think good money is anything you work for and that gets you what's needed to take care of yourself/family. Cars are payed for and we have a roof over our head ad clothes on our backs. I couldn't ask for anything else.

Awesome post

[Curtis32]

It's certainly not about gross income but I would agree that it is how much net is left after everything is paid. CC ruined me years ago and I'm almost done paying that off. Lessons learned and I can manage it a lot better now.

[Black Ice]

It's all relative. I can remember when I thought $120,000 combined income for my wife and I was good money. I though man if I could just make that I would be rich. Then it went to $130,000 then to $150,000 then to $180,000 and it just keeps going. Each time I would raise the bar but I also bought a house that cost $80,000 more, then I bought a diesel truck vs a gas, my gun collection has grown like crazy. Guess what I'm just as broke as I was back then. The people who make more money spend more money. Somebody who has a house hold income of $80,000 would think $120,000 is great. Somebody with a house hold income of $200,000 probably wouldn't think $120,000 is all that great.

[Texas8point]

Enough that you don't have to ask your wife for permission to buy anything.

ahhhh to dream

[bauce302]

anything over 750k

[Split Arrow]

I'd say over $500k/yr is what I consider "good" money. As others have said, it's all relative to how you use your money, and people have different standards and ideas depending on their background, expectations, etc. Thankfully most of us here in America are far better off than we think we are compared to most of the world.

[RiverRat1]

It's all relative. I can remember when I thought $120,000 combined income for my wife and I was good money. I though man if I could just make that I would be rich. Then it went to $130,000 then to $150,000 then to $180,000 and it just keeps going. Each time I would raise the bar but I also bought a house that cost $80,000 more, then I bought a diesel truck vs a gas, my gun collection has grown like crazy. Guess what I'm just as broke as I was back then. The people who make more money spend more money. Somebody who has a house hold income of $80,000 would think $120,000 is great. Somebody with a house hold income of $200,000 probably wouldn't think $120,000 is all that great.

This is true for most people. But the other part of the problem is inflation. Minimum wage has tripled since the late 80's.

I personally don't care how someone saves or blows all their money. I can still say what "good" money is and just because someone chooses to live above their means doesn't mean they don't make good money.

Right now I'd say at least 85k per year for a young family. Obviously if retired with home paid off etc. one "needs" less money. But one needs to factor in saving for retirement which is why a lot of people think 85k is on the high side but IMO it's on the low side. I'm not sure I want to know what it will take to retire on in 10 or 20 years LOL... I just know it will be a lot more than right now.

Even if someone made 150k per year, how long would it take them to save enough to buy a 100 acre ranch, 8-10 years?

[mikeb1206]

This^^^ but I never ask anyways might be why I can't keep em around I bust my butt for a living don't really feel like I need to ask permission any way

amen brother

[Ballcoach10]

anything over 750k

Wish I was in your shoes lol.

[Ballcoach10]

This is true for most people. But the other part of the problem is inflation. Minimum wage has tripled since the late 80's.

I personally don't care how someone saves or blows all their money. I can still say what "good" money is and just because someone chooses to live above their means doesn't mean they don't make good money.

Right now I'd say at least 85k per year for a young family. Obviously if retired with home paid off etc. one "needs" less money. But one needs to factor in saving for retirement which is why a lot of people think 85k is on the high side but IMO it's on the low side. I'm not sure I want to know what it will take to retire on in 10 or 20 years LOL... I just know it will be a lot more than right now.

Even if someone made 150k per year, how long would it take them to save enough to buy a 100 acre ranch, 8-10 years?

I think that depends a lot on how you live to. My wife and I make 75 together but live frugally. We are not buying a hundred acres but have saved enough quickly to put more than 20 percent down on 12 acres . But we pay bills, eat, and save. I consider what we make to be good for our age, (26). But I know it won't go up much from year to year in what we do either.

[skeeter]

Just sittin here wanting to start a Sunday conversation. I know we all come from different professions and jobs but, what do you consider a good living? How much money do you think makes a person wealthy?

I think to me good money means having at least a thousand dollars left a month after everything is paid including you're savings. Gas groceries and all. To me this is comfortable.

What do you think?

it aint how much u make, its how u spend it.

[Kdog]

I consider "good money" the money I still have! As stated it is all relative.