Make $120k and live paycheck to paycheck, brehs

[R.E.N. Spells Ren]

You need at least 160k to live comfortably in a 2bedroom apt. in Manhattan.

216K in SanFran

You guys are consistently moving goal posts. Manhattan is not a metro area, NYC is the metro area. There are suburbs of DC which are the richest in the country, surely you can't live there and only make $125k/yr. I'm not arguing otherwise.

 

[OneTimeforTheMind]

120k in DC isn't alot if he's paying a mortgage in DC plus has his exes in his pocket. He could have a nice house in MD or VA for much cheaper.

Yeah, if he was smart move into a 2bedroom apt in the DMV or even outside of it like Charles County or Alexandria and get a budget step up. But you know cacs gotta keep up with there yacht and golf buddies. That peer pressure lol

 

[OneTimeforTheMind]

I work at a bank you wouldn't believe the shyt I see, people making 100K a year with terrible credit asking for loans

That's why i don't get jealous of these people with high paying jobs because most of them faking outchea.

 

[UserNameless]

You guys are consistently moving goal posts. Manhattan is not a metro area, NYC is the metro area. There are suburbs of DC which are the richest in the country, surely you can't live there and only make $125k/yr. I'm not arguing otherwise.

Oh...I thought you said 125K is not peanuts REGARDLESS of where you live. ..



My fault tho. ..

 

[OneTimeforTheMind]

People say $120k a year isn't a lot.
In theory, if you live in a high-COL city or area it may not be as it seems on paper, but in reality, its quite a bit of disposable income if you're not an idiot.
That being said, most people are idiots.

MAN 120K waaay enough for a family. people just got caught up being a materialistic consumer and do dumb ish with the money they get from someone signing they are working under.

 

[EndDomination]

why is it just a given that we should OWN homes? who taught us that? the same people that said college is a requirement, while raising the tuition every year? weighing people down with debt and only offering bullshyt jobs that dont pay enough to pay back those loans....

i dont see how its ever a good idea to tie yourself to something for 30 years.....maybe its me...i dont know...but that seems like a prison sentence to me

not coming at you breh....

your post made me think thats all

A lot goes into it.
You're not required to live in the home you purchased breh, just required to pay for it.
Upkeep of property values quite literally keeps up the funding for the nearby public schools, one of the main reasons why Black kids in urban school districts seated in poorer areas suffer when it comes to education.
No one has said college is a requirement, but it is a necessity. You can't a lot of professions with deficiencies in AAs are college-required, think about engineering, the bedrock of building, nation and otherwise. One of Haiti's biggest issues? A deficiency of civil, structural, and electrical engineers to properly build and maintain their infrastructure. Goes for nearly every other developing country, and a lot of poorer cities/suburbs. East Cleveland's city engineer doesn't do nearly enough, which is another of the nearly all-Black city's issues.
Home ownership is a necessity for a strong community.

 

[Sunalmighty]

Yo fukk all that my dude. That's a prison with no release date. My father in law should be thankful that his father recently passed, that nicca was on his last because of his wife. This nicca retires n 11 months. This idiot has already cashed n his 401k, put 25k down on a Tesla and took a paid off Benz and traded it in for a Porsche Panamera. You about to retire with a fixed income and these are the choices you make? His wife really runs the house man. Horrible decisions. If you are 65 years old you should just fukking rent and put that down payment money in the bank.

 

[EndDomination]

Some of y'all need to travel outside NA

COL is higher in US than it is in most places.
You'd be surprised though, it may get you far in some countries, but other countries will smack you with a myriad of unusual costs.
Brehs think they're ballin go to Luana and find themselves coming out of pocket again.

 

[R.E.N. Spells Ren]

Oh...I thought you said 125K is not peanuts REGARDLESS of where you live. ..



My fault tho. ..

I was talking about metro areas. In one of these exchanges, I may have said live, but I meant where you work. So my bad if I misspoke.

 

[OneTimeforTheMind]

I really hate smart dumb nikka logic. Listen to what you're saying. You're advising people do something that YOU yourself have never done yourself like it's the simplest thing in the world.

You completely glossed over the downsides which is a TON of bookkeeping and tax reporting you have to do, more tax liability. you will most likely have to hire a CPA to handle everything for you. that's one big time suck. with my current work I opted to do a W2 instead of C2C because I didn't want that headache even tho it could've been a bit more money. Just because I didn't do whatever daymond john tells me doesn't mean I don't deserve financial freedom ol emotional caps lock typin ass nikka

exactly, by the time you do all of that, you probably will be breaking even anyways...time is more valuable

 

[That1guy]

Not sure if it's been mentioned but $100,000 can shrink pretty quick once the government gets involved:
After Federal and state tax, social security, medi-care etc that $100,000 is looking more like $65-$70k.
That's before retirement funds, savings, credit cards, insurance, mortgage etc.

The middle class in america is going away...

 

[Hacksaw Jim Thuggin]

breh...if youre making 60k....all you doing is living...

you have enough money to pay for food and where you live...plus a little extra for entertainment (very little at that)...and gas to GO BACK to work....

that aint living man....

@Kusch

really breh?

you want to make 6-figs? get you a skill/education that commands that salary instead of sitting around hating on the internet. put down your phone and get off IG and snapchat and open a business....

need a little help as far as what to get into?

theres this wonderful place you can go that has info on what jobs bring 6-figs and it even tells you what education you need too...as a bonus if you want to start a business...it also gives you step by step advice....

ready? here you go

G-O-O-G-L-E

in this country you always have a choice breh

 

[Sensitive Blake Griffin]

That's why i don't get jealous of these people with high paying jobs because most of them faking outchea.

you wouldn't believe how bad some of the credit reports I see are. From what I've noticed its usually blue collar workers making 100k who have no idea how to manage money. Dudes pulling 80k a year at ford applying for a loan for 1900 dollars to buy a wedding ring and shyt a lot of people out there just have no sense. they just want to buy buy buy buy.

 

[OneTimeforTheMind]

I know about 10 families (married couples) that make 100K or even more between them 2 in the DMV and are fine as long as they don't doooo too much!

it's the people that don't manage there money and throw it away that have the major issues

The Coli is the only place I've ever seen where people, presumably black people, consider $120K plus salary to be peanuts

This is especially funny when you consider that black people have the lowest household income in the US....way below $120K

And even removing race, the median household income in the US is $51,759 across the board. So most families would love $120K plus

Yes, $120K is peanuts if you live in a large city and want to live like the rich and famous. But if you want to live within your means, you can find a spot in or around the city that is clean, safe and fits your needs on $120K. You can pay your bills, save some money and take some trips on $120K.

But if you want to fraud like a baller on $120K, then yes, maybe $120K will be extra tight

Peace

 

[OneTimeforTheMind]

you wouldn't believe how bad some of the credit reports I see are. From what I've noticed its usually blue collar workers making 100k who have no idea how to manage money. Dudes pulling 80k a year at ford applying for a loan for 1900 dollars to buy a wedding ring and shyt a lot of people out there just have no sense. they just want to buy buy buy buy.

1900 for a wedding ring and making 80K a year smh. i know cats that made 25k are year and dropped 3K on a ring and just finessed (credit) made there payments on time na dup there credit score and didn't come out broke....or just saved up the money over a year.