How much money is sufficient for you?

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Discussion Overview

The discussion revolves around the varying amounts of money individuals believe are necessary to live comfortably or luxuriously, with a focus on personal experiences and regional cost differences. Participants share their perspectives on income requirements based on family size, lifestyle choices, and geographical location.

Discussion Character

  • Debate/contested
  • Conceptual clarification
  • Exploratory

Main Points Raised

  • Some participants suggest that a monthly income of $10,000 is necessary for a luxurious lifestyle, while others argue that significantly less can suffice depending on personal circumstances and location.
  • One participant mentions managing on $14,000 a year during graduate school, indicating that lifestyle choices can greatly affect perceived sufficiency.
  • Another participant reflects on the impact of family size on financial needs, noting that expenses can increase with more dependents.
  • Several participants highlight the variability of living costs across different regions, with some stating that what is considered a comfortable income in one area may be inadequate in another.
  • One participant raises concerns about the tendency for expenses to inflate with income, suggesting that comfort levels adjust based on earnings.
  • There is a mention of the average debt levels in the U.S. and a discussion about societal pressures to maintain certain lifestyles, which may lead to financial strain.

Areas of Agreement / Disagreement

Participants express a range of opinions on what constitutes a sufficient income, with no clear consensus. Some agree that living costs vary widely by location, while others emphasize personal choices and family dynamics as significant factors in determining financial needs.

Contextual Notes

Participants' claims are influenced by personal experiences, regional economic conditions, and individual lifestyle choices. The discussion reflects a variety of assumptions about income sufficiency and the relationship between earnings and expenses.

  • #121
Zantra said:
Where I live the average household income is $80K.. I am not rich- trust me :cry:

southern cal is expensive i am sure.
 
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  • #122
franznietzsche said:
I had better be able to live on just $60k, because i doubt i will be making more than that, being a physics major who plans on doing doctoral work in theoretical astrophysics, so if I'm making more then $60k, then the government decided they really wanted some astrophysicists to build their next big bomb. Although T division at Los Alamos would be really frickin cool.
My little sister's ex boyfriend is an unemployed astrophysicist. He delivers pizza for a living. Both of his parents are professors at a large University. So their combined incomes make them very comfortable. It's really a shame though that there is not more money in the sciences.

One of my ex-boyfriends had a Ph.D in Biochemistry and only made $45,000/year. He'll probably never make more than $60,000. This just isn't right.
 
  • #123
Evo said:
My little sister's ex boyfriend is an unemployed astrophysicist. He delivers pizza for a living. Both of his parents are professors at a large University. So their combined incomes make them very comfortable. It's really a shame though that there is not more money in the sciences.

One of my ex-boyfriends had a Ph.D in Biochemistry and only made $45,000/year. He'll probably never make more than $60,000. This just isn't right.

How does that work out?

I actually was speaking to my science teacher and he said most times people that get their masters/Ph.D in science fields or professors make maybe a little more than they do.
 
  • #124
SergejVictorov said:
Well, I must say I can't complain about life over here.

Sergej, how are foreigners treated in Switzerland? Especially hairy, Mediterranean ones like me.
 
  • #125
Evo said:
One of my ex-boyfriends had a Ph.D in Biochemistry and only made $45,000/year. He'll probably never make more than $60,000.

On what basis do you make this guess ?

The median salary for a tenured Biochemistry Prof is nearly 100K.
 
  • #126
Hi All,
are you able to save 20% of your gross income monthly after all expenses?
 
  • #127
Very few people can manage to save 20% of their gross income.

- Warren
 
  • #128
Gokul43201 said:
On what basis do you make this guess ?

The median salary for a tenured Biochemistry Prof is nearly 100K.
He prefers to remain in research. He was in AIDS research when we dated.
 
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  • #129
Evo said:
My little sister's ex boyfriend is an unemployed astrophysicist. He delivers pizza for a living. Both of his parents are professors at a large University. So their combined incomes make them very comfortable. It's really a shame though that there is not more money in the sciences.

One of my ex-boyfriends had a Ph.D in Biochemistry and only made $45,000/year. He'll probably never make more than $60,000. This just isn't right.


Yeah, those of us who go seeking PhDs rarely do it for the money. We do it because we like the field. I'm sure this will come as a shock to my mom when she one day discovers that college will never make me wealthy. Too bad.
 
  • #130
Yeah, tell me about it. The clothes my parents paid for, they got to pick out. The clothes I paid for, I got to pick out. A $1.25 allowance a week so we could have a drink with the lunches we packed at home? Get real, my mom only bought braunshweigger (or however it's spelled - I try to block it from my memory). Geez, where'd these people come from? You'd think my parents grew up in the depression or during World War II or ... oh, yeah, I guess that explains it.

Anyway, suffice it to say, the kids in my family got part time jobs pretty early.

Sounds tough. A lot of American teenagers are into getting jobs at age 16, having allowances and having to pay their parents back for some larger expenses.

A lot of Chinese kids are spoiled. I've talked to quite a few kids that moved from Hong Kong. There parents will just buy them a new Porsche Boxster or BMW just like that. If you think that's not possible, head to Richmond, British Columbia. It's a city full of people from Hong Kong, and you'll definitely spot a 16-20 year old driving in a Lexus, BMW, Benz etc. I doubt Chinese kids spend as much money on clothing or food as American kids do though. They are rarely ever pressured into getting jobs early. Of course, I'm talking about Chinese kids in Canada, the only ones I've talked to.

Besides, childhood is so short. Do people really have to burden their children with allowances, force them mow the lawn for $5 so they can save for that next video game or making them pay for half the cost of the CD player they want?

They'll have more than enough time to worry about money in adulthood. Let them enjoy their childhood, free from financial burden. They'll probably be a lot happier.

Where the heck do you people eat??

At home, side-walk cafes, sandwich/soup shops. I rarely ever eat McDonalds /BK/Wendy's anymore. Can't stand that crap.

Aren't you worried that letting your daughter consume so much will make her prone to putting herself in debt when living on her own?

Debt or bad credit doesn't seem to be anything unfamiliar for Americans. Like Jay Leno said, two favorite hobbies of Americans are getting fat and getting into debt.

The more you do something, the more prone you become to HAVE to do it.

They'll have to stop eventually when their credit gets ruined or they have to declare bankruptcy.

My little sister's ex boyfriend is an unemployed astrophysicist. He delivers pizza for a living. Both of his parents are professors at a large University. So their combined incomes make them very comfortable. It's really a shame though that there is not more money in the sciences.

One of my ex-boyfriends had a Ph.D in Biochemistry and only made $45,000/year. He'll probably never make more than $60,000. This just isn't right.

$45,000 for researching against AIDs.

While, over in the NHL, guys get millions for playing a game. Yet, they still complain, demand more money, and strike.

That just isn't right.
 
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  • #131
Dagenais said:
There parents will just buy them a new Porsche Boxster or BMW just like that. If you think that's not possible, head to Richmond, British Columbia. It's a city full of people from Hong Kong, and you'll definitely spot a 16-20 year old driving in a Lexus, BMW, Benz etc.
Yep, one of my daughter's friends got a new Lexus for his 16th birthday. Another kid got a new BMW. She'll have to make do with her Toyota. :devil:

$45,000 for researching against AIDs.

While, over in the NHL, guys get millions for playing a game..
I know, it burns me up.
 
  • #132
Dagenais said:
$45,000 for researching against AIDs.

While, over in the NHL, guys get millions for playing a game. Yet, they still complain, demand more money, and strike.

That just isn't right.
The NHL guys bring joy to hundreds of thousands of people week after week...but the AIDS researcher may never end up with anything useful :frown:

Okay...that was in jest, so don't eat me up. :rolleyes:

(That's capitalism - learn to live with it ! :devil: )
 
  • #133
franznietzsche said:
Yeah, those of us who go seeking PhDs rarely do it for the money. We do it because we like the field.
To be able to do something you want do do, are passionate about, enjoy, what greater reward is there than that?

I would rather have that than tons of money.
 
  • #134
Evo said:
To be able to do something you want do do, are passionate about, enjoy, what greater reward is there than that?

I would rather have that than tons of money.

A little money on the side would be useful...for those once-in-a-blue-moon vacations we'd like to take.

The only use I have for extra money is traveling (and books) - don't care about fancy cars, mansions with swimming pools or going on luxury cruises.
 
  • #135
cragwolf said:
Sergej, how are foreigners treated in Switzerland? Especially hairy, Mediterranean ones like me.

Foreigners are usually treated good. There are some folks who are prejudiced when it comes to foreigners but I believe they are the minority. Italian, Portuguese and Spanish people have established a good presence in Switzerland. After all, 21.6% of the Swiss inhabitants are foreigners. I've always used to see this as a positive thing, not a burden.
 
  • #136
Evo said:
To be able to do something you want do do, are passionate about, enjoy, what greater reward is there than that?

I would rather have that than tons of money.

That's why I'm a physics major, not an engineering or computer science major.
 
  • #137
how about houses in Florida, are they expensive?
 
  • #138
franznietzsche said:
That's why I'm a physics major, not an engineering or computer science major.

It could also mean that you enjoy physics more than engineering or computer science.
 
  • #139
Saint said:
how about houses in Florida, are they expensive?
Why do you keep asking these kinds of questions? They don't have any answers. Houses vary enormously by location and by quality.

- Warren
 
  • #140
The NHL guys bring joy to hundreds of thousands of people week after week...but the AIDS researcher may never end up with anything useful

The reason the owners have locked out the NHL players is because they do not draw enough people week after week. The Stanley Cup didn't even draw higher ratings than High School sports highlights.
 
  • #141
Chrono said:
It could also mean that you enjoy physics more than engineering or computer science.

That was the point.

Dagenais said:
The reason the owners have locked out the NHL players is because they do not draw enough people week after week. The Stanley Cup didn't even draw higher ratings than High School sports highlights.

I was so incredibly...there's no word for this emotion... Went to buy tickets for Chistmas time...Oh, sorry, no games. Too bad. So incredibly furious, even now.
 
  • #142
what website can i check the prices of houses in US?
 
  • #143
Saint said:
what website can i check the prices of houses in US?

http://www.realtor.com

i check it weekly for homes in my area :smile:
 
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  • #144
franznietzsche said:
That was the point.

I know, but what I was emphasizing with that was that the salary is only a bonus.
 
  • #145
US cars are cheap, but houses are damn expensive.
How much to rent a 1500 sq ft house, let's say in Boston.
 
  • #146
I won't stop until I own the world!
 
  • #147
Saint said:
US cars are cheap, but houses are damn expensive.
How much to rent a 1500 sq ft house, let's say in Boston.

You complain that houses are expensive, yet ask for rental rates in a city with probably one of the highest costs of housing.

What is the point of these random queries ? I can't imagine that you're thinking of moving here, given your opinions of this country.
 
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  • #148
Hi, I am looking for a city which has moderate living cost. Plan to move there one day (may in 3 years time).
I am totally unfamiliar with US. Therefore i ask...stupid questions?
 
  • #149
Saint said:
Hi, I am looking for a city which has moderate living cost. Plan to move there one day (may in 3 years time).
I am totally unfamiliar with US. Therefore i ask...stupid questions?

You're asking a very broad question and expecting very narrow answers, which won't happen. Any city that is on the west or the east coast of the US will be expensive, so you most likely won't want to live there. So you can live somewhere ithe midwest or south. give us a specific city, and we can tell you. Otherwise do what I do:

www.google.com

It sounds like you need to look at a map of the US first before you ask questions about how much it costs to live here.
 
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  • #150
Saint said:
Hi, I am looking for a city which has moderate living cost. Plan to move there one day (may in 3 years time).
But why ?

I am totally unfamiliar with US.
Yet you want to move here...this is confusing... :confused:

Anyway, I suggest, as Zantra did, that you do a bit of research yourself. That will get you more answers in less time, with more accuracy.
 

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