inspired by the $2mil apartment post. What do you make? What does DH make? Say if it's base salary, bonus, commission etc.
I'll start - DH - $225k - about 15% of that is bonus. Me - $140k no bonus.
ETA: We're in our late 40's, live in NYC. ETA again: I feel "UB poor" in our friend group. We have a very small 2 bd in Manhattan and we never take the sort of vacations our friends do.
What I feel is always missing from the polls is other questions which indicate what type of QOL you can achieve with that salary. I know people making very little, but they have no housing costs, others I know have no childcare costs, others might live in a low cost of living location. Also, as a young poster, I feel like age is important to mention too. Making $500k at 32 is very different than making that at 42 or 52.
Guess I assumed we are mostly tri-state area here (except for Vermont ER mom!).
@anonymous haha, VT ER mom here. Sometimes I feel like an interloper, but I did live in NYC for four years!
@Anonymous Please stay! Your point of view is always interesting and often helpful.
So I will preface this with the fact that DH does our taxes, and I don't know exactly what we make. But I do know we make enough that I don't really have to think about it. It's not high by NYC/UB standards, but it's more than enough for us.
I think we make about 300K. I make 200K of that, and he makes the rest. We are both 40. 2 kids, 2 dogs, live in New England.
I work roughly 70-75 hours per month at a hospital, and 20 per month doing admin duties from home.
I've always been a "work to live," not "live to work" sort of person.
I love the amount of free time I get, for the amount of money I still make. This schedule also allows me to do fun things like work at overnight summer camps for a week, or on cruise ships once or twice a year.
Of course, I'm about to muck that all up. I'm considering going back to training for a year to expand my scope of practice. It will possibly be more meaningful work, but the amount of free time I have will likely go down. I will also likely make less. It's a big decision.
I make 220 plus a bonus a bonus can be anywhere from
a few thousand to a few hundred thousand depending on the year. Dh makes about 250 which includes bonus. We have no housing costs, but live in a small house that is in desperate need of an upgrade but I am reluctant to put more money into it bc i am trying to plan next move. Kids are out of house in 3 years!!!! We are late 40s!
How do you feel making over $500k HHI yet living in a small house?
Some days I feel fine with it because there is no pressure and we are putting my daughter through college soon so there is lots of extra cash. Other times I feel like total shit. Mostly though 500k does not go as far as you think. a few cars, a vacation or two, summer camps, 529 contributions etc. before you know it it’s just not a tremendous amount.
@Anonymous I was asking because my HHI is similar and I also live in a small place (1 bathroom). It's great to have low expenses and no stress, big savings cushion. But then sometimes I can't understand how such a lot of $ is really a lot less than one would think.
DH made 1.3 last year, not sure of the exact split but something like 450 base and the rest bonus. I don't work. 40s, NYC, rent don't own. We're not fancy, clubby people so the kids go to public school and we have an old farmhouse in a fabulously uncool area. We spend our money on travel and dining.
I want your situation! Especially the farmhouse in an understated location
I make 800k. 400 base and 400 bonus. My husband is commission-based. Last year he did 800k too (previous years more like 600k); this year, he's already tracking 1.4M. It honestly feels a bit like funny money to me. Neither of us grew up wealthy. We owned 2 homes; sold our NYC apartment (2M) and are living in our 700k beach home. late 30s / early 40s. Finance
^ same poster. I'm also thinking about quitting my job. I want to get off the hamster wheel and downshift our lives.
I have a stable teacher admin job with the city - make 110K - summers off (so it feels like I make much more and can easily pick up extra side work/bonus work) - granted I got two masters degrees for this job and will retire with a decent pension/health coverage for me and dh. DH makes about 210K + small bonus. He works in tech and cashed out a lot over the years which has nothing to do with his salary but puts us in a nicer lifestyle than our income would suggest.
I'm mid-50s, make 2.5, lawyer. DH is an executive, I'm not really sure what he makes but it's a lot less (like by an order of magnitude) and varies depending on how the business does.
anyone want to guess OR's unit? 2.5 million? 2.5 dollars?
@Anonymous OR, it was less than 2M.
Nice. Do you work at a law firm or in-house? Is your comp all cash or some deferred? Congrats on your success!
DH and I make about $170K combined. Both work FT (50/60 hour weeks). 2 kids. No help from family/nanny. Live in NYC. Early/mid 30s
How do you both work full time with no help. Do you work one time frame and he another or do you use daycare?
@freckles Daycare (YDC) + afterschool (ODC). Kids are gone from 8a-5:30p and then we help each other out if one needs to work after dinner. Even in the middle of a pandemic, I don't feel like our lives have slowed down at all. We are just as busy, if not busier, as our jobs are more demanding and doing anything is just more complicated (following school/daycare Covid protocols, etc.)
@Anonymous How do you afford daycare for two on that? I live in a more affordable part of NYC, and even for us, that would be about $4k a month. That's about half your take home.
I make about 500k (300k base, 200k in bonus + stock). DH makes 2.3 million. We're in our low to mid-40s, live in NYC.
2.3 million. Holy cow. Good for you for working! I fully admit, if my DH made that much, I'd bail on FT work.
@anonymous I like my job enough, and it keeps my brain working, which is good. But I hear you. I've thought about quitting many times.
same. Fk that.
Well I guess I’ll represent the lower income end of the spectrum here! We usually make $150k a year (I’m in a creative field so my income can vary quite a bit). That said, we’re in a rent stabilized apartment so our housing costs are verrry low, plus kids are older now so no childcare costs. Still manage to take fun vacations and contribute to savings.
Someone above mentioned deferred comp. Do you consider this as part of your HHI, or only count it when actually received? DH and were discussing this recently.
With deferred I’d include it the year it vests and you can realize the value
we make 1.3 annuall. dh is bulk - I make 250. Two young kids. Own our apt. Low to mid 40.
same poster above - we also don’t own a vacation place and no car either. I’m curious if you guys think we could afford a vacation place? college mostly saved already and have cost of two privates half saved already.
@Anonymous when you say you own your apartment, do you mean to say you've paid it off? When you say that the cost of two privates is half saved already, do you mean private k-12 education at $50k a year? How is your retirement savings?
Last year we were at 275k and not comfortable in NY. Moved and now at 175k and exponentially better off financially. Most ppl near us made around 200k, I only know a few making really good money.
Dh is 700-1.1, salary is 45k, the rest is commission. My salary is 160. 2 dcs, 6 and under, have a full time nanny and a tutor for remote learning. In public school, spent about 2.6 on apt. No vacation home- never wanted one but covid has me wondering if we should consider it. Live in nyc
Does commission feel secure? Like what if he didn't get any commission one year or something??
It’s secure enough to me. A good portion of it is annual recurring income and he’s made between 500k-1.1 every year for over 10 years. last 3-4 years has been over 800. dh does worry about it a lot. I’m not as caught up in it. worst case scenario is that he makes 150-200 and we can sell our place and move if things are going that way. It wouldn’t happen all at once. Kids are in public, we’d probably spend less on eating out and vacations and possibly the 8 million kid activities.
We did the vacation home this year - the pandemic put us over the edge. I think if you rent Air BnBs 2 or more times a year like we did, you should consider it.
Me (part-time 3 days/week) $130K salary, $10K bonus, DH $400K salary ~$800K bonus sometimes more sometimes less.
Think I’m the UB poorest. DH makes $120, I make $55. Late 30s/early 40s, 2 kids in the burbs, we live happily within our means.
dh just lost his job but usually $150-$180. I make $300 but just got a new job that will pay $480-$650. all fingers crossed.
That's a big jump. How did you get such a big increase?
Congratulations!
What industry/roles are people in making over $500k? Finance and law?
Yes in our family it is those two industries
@Anonymous Consulting only if you're a partner at one of the big firms. I have to think most of these are finance and law.
I know of doctors making more. Also insurance.