Originally Posted by
BoilerUP
Quoted for truth; many folks these days cannot accept any lower standard of living than what they know and are going broke (or worse) in a feeble attempt to maintain that lifestyle.
I don’t make 100k and have very few expenses; I also don’t have kids yet. I was giving what I consider a basic lifestyle of a typical family. The problem is first we are a professionals and should be compensated to allow a normal lifestyle. Second problem is most are not saving sufficiently to fund their own retirement. Sure you could go lease a nice range rover and buy a boat, on a 100k a year but your retirement is going to run out when your 75.
Check out this retirement planner to see what you need to invest to fund
your retirement.
http://www.gkis.net/tools/RetirementIncome.asp
Another important chunk of cash that I failed to include is your medical insurance and costs. To many people think they are living large on 100k and have inadequate health insurance.