Had a conversation with a sibling today that left me surprised. What do you consider a good annual income? Individual and household (if more than one income)? My brother is a Chicago boy so his cost of living is different than my thumb of Michigan cost but dang! Your thoughts and from what neck of the woods do you live?

Takes $175,000+ to be homeowner and comfortable in Grand Rapids, MI

Seeing houses under $300,000 in Grand rapids, why do you feel it takes 175k to buy one?

just had a discussion about a "fair" wage last month.

What's A Fair Wage For Americans?

A "fair" wage is completely different than a "good" wage.
To me, there is no such thing as a "fair" wage. If you don't like what they are paying you, go look for a better paying one.
Employers don't owe you fairness. They owe you a competitive wage for the duties for which you were hired. If what they are paying isn't what everyone else is paying, look elsewhere.
If you can't support your lifestyle on a salary that competitive employees are paying, start your own business.

A "good" wage is whatever it takes to pay for the lifestyle that you choose to live. That number is going to be all over the place depending on each persons comfort zone.

The 'comfortable' is what throws a wrench in the equation. Comfortble means different things to different people. Regardless of your wage, if you learn to live beneath your means, youll be fine....just my 2 cents

A lot....Houses here for a starter home have gone crazy since covid, figure 600,000 for a fixer upper, livable, 750 and up, way up.

taxes and insurance high, electric, one of the highest in the country, 1 salary doesn't cut it here., no wonder our kids have to move.
If I had to guess, a combined income of over 150,000 might do it but you'll still be considered low middle class

I suppose so. $175,000 gross will be roughly $125,000 after taxes. $400,000 house will be roughly $2,300 a month in payments, vehicles and health insurance lets say $1,500 a month in payments.

So it takes roughly $75,000 for food and entertainment, etc, seems almost lavish to me but I require little in way of comfort.

Depends on you situation and where your at . I know what I'm making now puts me in upper middle class where I live , and I don't have a mortgage or anything past a small loan payment for a roof repair. But my same pay wouldn't be enough for some of my friends living in more expensive states and having to pay rent

I should have been more specific - I’m throwing that number out for a family of three. And not living lavishly by any means.

Lugnut Yes and I was the last reply. Thread killer I am. lol I will reword my new thread.

I don't believe there is a comparable answer, things for everyone are different in one source or another, however it adds up in the end !

People live every where for different wages and get accustomed to being able to live with it !

What is fair or good is and can be changed in the same year

I would ask how do people live and survive on what they make and are they happy and secure doing so.

I was thinking about buying a small house for a rental so looked a few up. Under 800 square foot 2 bed one bath nice size skiny but deep lot in Charleston Indiana was around 180k. I Don't know what rent it could generate but I dont think I could get a 7% cash flow at that price. I changed my mind on buying another rental.


What makes comfortable wage will be different for everyone. Between stages in life, location, and lifestyle.

Some want new cars, big house and kids in every expensive activitie like travel ball.

Most jobs in this area dont break or get much over 50k 65k and will definitely require a 2 income family to get by.

I dont know how a family would get by on less than 100k combined if they have kids a house and car payments. Geting by 120 to 150 With house and 2 car payment. 175 plus to be comfortable if lifestyle keep simple. I say that as someone that has never made 150k but looking at current prices and thinking what it would take starting out with nothing today. With student debt, car & home prices im afraid the younger generation will be a generation of renters

Starting wages here are around 20 an hour. Thats 40,000 without over time. Real estate/rent is getting ridiculous but a family of 3-4 could live on 80,000. Then take into account starting out on a new job most people are young, no kids. Start making more over time. I don't think its any tougher now than when I was young. If illegal immigration continues to be under control, if illegals keep being deported, demand should not be so high for rent and real estate. Increase in price should slow down.

I'm a thread killer too sometimes.

I replied to Danny's fox vocals thread and it died. LOL

Lugnut Yes and I was the last reply. Thread killer I am. lol I will reword my new thread.[/quote]

I'm a thread killer too sometimes.

I replied to Danny's fox vocals thread and it died. LOL
[/quote]

I just don't feel pretty enough sometimes! lol

I’m just west of Leroy in Grand Haven…….real estate is nuts. We seem to have a lot of people moving here.Traffic is getting worse…. So are peoples manners and temperament….. I can’t figure out where these people came from or what they are doing when they get here…… and how they can afford a large house, and a couple expensive cars and toys in the garage……

Comfortable would depend on personal preferences/ lifestyle. In regards to rentals around here people seem to think they are renting the Taj mahal as is evidenced by this listing

Looking to rent our 1 bed and bath ADU starting January. House comes with a washer and dryer, bathroom, separate bedroom and small living room. It is unfurnished. The house is located within walkable distance of downtown . Rent is $1000 a month. No dogs as there isn't a fenced area.

And it's one of the cheaper listings

Folks do not know how to live within their means,and believe they have to keep up with the Jones even if it men's going in neck deep debt

I have a few small businesses so my income varies a lot month to month. I've had lean times and I've had some good times. This experiment makes me think that $300k per year is where I would out earn any desire to spend foolishly. I can and do live comfortably on quite a bit less but if I made $300k, I would not need to be careful with money at all. I have no desire for stuff that wouldn't be completely satisfied at that income.

I’m just glad we bought our house 20+ years ago. We’ll pay it off next year. I could sell it for triple or even quadruple what we paid for it and it would probably have a contract with 1-2 days after it was listed.

A wealthy income is any income a family can live comfortably. All depends on how they choose to live.