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I'm a teacher and DH is training to be a restaurant manager, so we are in the $25,000-$50,000 range. DH went to college to be a teacher, but after graduation he decided he wanted to take some time away from teaching. When he becomes a general manager in 1-2 years, he'll be making close to $80,000 so our income will dramatically change.
We also live in a rural community in the South. Our rent (2 bedroom house) is $550/month and both of our cars are paid oFf, so we're doing well for where we are living right now.
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@MK0180: I'm a preschool teacher at a private daycare, but my class is funded by the state. I completely understand what you mean about making a difference. Teachers definitely don't go into it for the money, haha
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We are actually newly minted into the over $200k category. DH started his own company a few months before DD was born. His annual income is ~500k. I was a full time RN, then dropped to part time, probably make about $50k before taxes right now.
I recently read an article that polled Americans and the results said that $150k/year in income is the magic number in which most Americans say they actually feel "wealthy." Would you agree?
Our lifestyle really hasn't changed that much from before he started his company till now. I just feel blessed because we can provide for DD the way I envisioned.
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@Anewme I do feel wealthy because of our income and the luxuries we have in our life. I think that because I grew up decidedly not wealthy I am aware of it more. My husband grew up in a family that has far more than what we do so he does not feel wealthy. He was looking into getting his own plane/pilot since he flies overseas every two weeks and regular airport travel can be so annoying. He felt that we didn't have enough of an income to buy a small plane and he was honestly upset over it. I had to snap him back to reality haha!
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@anewme: Hm, I don't think we feel wealthy (because we don't drive super nice cars or wear expensive clothing or take exotic trips), but I do think reaching that figure we feel "comfortable." That allowed us to buy our condo, we now don't stress much about money, don't have to penny pinch, and get to go out to dinners and have savings. I would like to save more and hoping to work on that in the new year.
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We're in the middle of the 100-150k range, but we live in the north east, so our mortgage is a big chunk of our monthly income. Plus we have about 20k in student loans, and several thousand in credit card debt (from paying for home improvements, etc - we bought our house when we were making roughly 75k combined, and we didn't have the cash to pay for things like that at the time).
Money is the only thing stopping us from TTC - we don't make enough to save anything substantial right now, and I really want to figure out a way to be at least a part time SAHM or WAHM.
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We're at the higher end of the $75,000-100,000 and are located in the south. I would feel very comfortable if we could sell a couple of pieces of property that we own, but right now we're a bit tighter than I'd like to be. I'd prefer saving much more than we currently do. We also only have a small amount of debt in one of our vehicles and no credit card or school debt, so we're definitely doing a lot better than so many people around us in this crappy economy.
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@anewme: I recently read an article that polled Americans and the results said that $150k/year in income is the magic number in which most Americans say they actually feel "wealthy." Would you agree?
No, I wouldn't agree with that survey. Maybe if we each made $150k a year, but at a combined $150k a year we are definitely not wealthy. But we are comfortable. (We also live in the northeast where the cost of living is higher. If we could buy a home for 100k or even 200k, I might feel relatively wealthier than I do now. Maybe).
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@anewme I'm sorry I didn't read your original question carefully. I'm embarrassed that I answered without doing so. If I had gone from where I was pre-marriage to an income of $150,000 or so I still would have felt wealthy. If I were to go to an income of $150,000 now I would not feel wealthy. It's really all relative.
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We were in a much higher category, until I decided to start my own company from home a year and a half ago. DH makes a great salary and we've been able to live on his income alone, putting whatever I make from my biz to savings as we prep for baby. I have always had a personal goal of working from home when I'm a mom, so it was important to me to start my business when I did, so it'd be up and running when baby got here.
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