|
Originally Posted By 0311SKI: Nobody wants to talk about that because its not relevant to the buying power of the dollar being cut in half. Originally Posted By 0311SKI: Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. Nobody wants to talk about that because its not relevant to the buying power of the dollar being cut in half. But it makes him feel morally superior, so it's relevant to him. |
Now fellate me, as I eat this expensive ham.
Joined:
Aug 2007
Posts:
48683
EE: 100% (161)
USA
|
$100k wasn't cutting it 10 years ago in HCOL markets, let alone now. After taxes, 401k match, and insurance, I recall rent (for my modest 1br) being over 50% of my take-home |
Look, yes, I have banged HUNDREDS of broads. INTERNATIONALLY. But know this - I wrap my rascal, TWO TIMES, cuz I like it to be joyless and without sensation. It's a way of punishing supermodels.
Member
Joined:
Dec 2023
Posts:
9408
EE: 0% (0)
MI, USA
|
Originally Posted By guyina4x4: Interesting Coming from the ceo of a company whose average employee salary is less than 20k a year. I didn't read the whole thing but I'm wondering why he would care enough to bring it up. Stocks down 43% from 5 years ago. |
When the going gets tough, the tough go cyclic.
|
the real problem is prices never actually fall across the board. Sure one day fuel may be under $3 again, deflation is never really ever allowed to happen, and there is good reason or that. So the best we can hope for it that inflation just slows down and stays down. The damages caused by inflation are permanent. Decades of wage growth that exceed inflation are needed to catch back up. Inflation favors those with capital assets, houses, business, any capital asset bought on credit becomes cheaper year over year, especially when inflation is half of the interest rate or more. Inflation generally boosts equities markets as stocks become a haven for inflationary times. So the investor class generally wins during times of high inflation and everybody working for wages gets fucked. ( see the early 1980's for an example) Interest should be 8% right now, the bullshit CPI numbers are 3.4% , 2% above where it should be and at 1.4% CPI we are probably at 4% real inflation which sucks, but is more tolerable that our current cluster fuck. Inflation has to raise until AI investment slows down, unfortunately I think that won't happen until after the massive layoffs start elsewhere. A bunch of people are going to get fucked to right this ship, just like they did in 2008. |
How do you do?
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. "Six-figure earners" covers a pretty wide chasm between $100k and $999k. But we're talking about people making $100k per year and we aren't talking about people feeling "poor" we are talking about people "not feeling high income". If you are sweating car payments, eating out, streaming subscriptions, and starbucks, you definitely aren't high income. |
|
Originally Posted By Firearmsenthusiast: Yup I make about 300k and you would think I would be just rolling in it. While I my family is definitely not struggling, it's not like we take lavish vacations and live in a Mcmansion. We live in a project house built in '59 and I drive 2015 Toyota. We recently finished car shopping for my weife, pre-covid if I was making this kind of money we would have bought new, we ended up with a '24 model year. Even we feel the cost of groceries for a family of 4. I can only imagine what life is like at 50k a year right now. I will say a few of my rental tenants are struggling, I am getting the occasional message "Sorry rent will be a week late for reasons x,y and z." from tenants that have paid on time for years. I feel the squeeze on my side as well, property taxes keep rising, maintenance and repair costs are up for now I am letting that all eat into the margin, but at some point rent has gotta go up. Originally Posted By Firearmsenthusiast: Originally Posted By 0311SKI: 100k isnt high income. Its the equivalent of making 53k a year 25 years ago. We all just grew up hearing that making 6 figures would mean you "made it". Yup I make about 300k and you would think I would be just rolling in it. While I my family is definitely not struggling, it's not like we take lavish vacations and live in a Mcmansion. We live in a project house built in '59 and I drive 2015 Toyota. We recently finished car shopping for my weife, pre-covid if I was making this kind of money we would have bought new, we ended up with a '24 model year. Even we feel the cost of groceries for a family of 4. I can only imagine what life is like at 50k a year right now. I will say a few of my rental tenants are struggling, I am getting the occasional message "Sorry rent will be a week late for reasons x,y and z." from tenants that have paid on time for years. I feel the squeeze on my side as well, property taxes keep rising, maintenance and repair costs are up for now I am letting that all eat into the margin, but at some point rent has gotta go up. You and I are in the same boat and I share the same issue with one of my tenants. The only time we go out to eat is for 1-2 birthdays a year or with the kids baseball team and bill's always under $100. Luckily we have been fortunate enough to have all of our vehicles paid off and don't owe much on our primary residence and very little on our rentals. Wife is getting laid off in October so things will change even more. Our biggest expense is one vacation per year to see MLB games at different parks. I told my son we would see a game at each field and that has become a fun tradition but we have lots more to go to. |
Arfcom's favorite midnight DG shelf stocker
Joined:
Apr 2004
Posts:
77603
EE: 100% (26)
UKR
A day without a buzz is like a day that never was
Joined:
Jan 2011
Posts:
13936
EE: 100% (54)
AZ, USA
|
Originally Posted By guyina4x4: Interesting Coming from the ceo of a company whose average employee salary is less than 20k a year. I didn't read the whole thing but I'm wondering why he would care enough to bring it up. Its very important for a retail company to know it's customers spending habits and income levels. This is how they forecast what to buy, how much to buy, where to open new stores, etc. |
Welcome to wherever you are.
|
Originally Posted By guyina4x4: Interesting Coming from the ceo of a company whose average employee salary is less than 20k a year. I didn't read the whole thing but I'm wondering why he would care enough to bring it up. A CEO of dollar general should be hyper aware of exactly who his customers are. I think the point would be that someone making $100k per year is now a potential Dollar General customer where 30 years ago they wouldn't even be on their radar. |
| When I was a teenager, I never dreamed of making 100k a year. Now I am getting close to that number, but feel poorer than ever, cutting out everything I possibly can. I’m stuck in a moldy apartment so that I can save some money week to week. If I bought the cheapest house I could finance, my savings would dwindle to almost nothing. The intention of the government/ elite is that my child goes away into constant daycare or school so that my wife may also work, and then my child can be properly indoctrinated with all of their fucking garbage. Fuck that. I will raise my own children, even if it’s not a cool, gucci lifestyle. |
|
Originally Posted By woodsie: It's not hard to feel great about a "not high income" salary/wage if you have your budget in order. I felt great about making less than $100k at points in my life as well but that just meant I was making more than I was spending and was happy with the standard of living that afforded me. I think the point of the Dollar General CEO is that $100k isn't living high on the hog anymore and that's definitely true. When I was growing up, six figures basically meant big house, all the nice toys, all the nice vacations, essentially living the "Hollywood ideal" of an American family. For example, Peter McCallister in Home Alone. Using that as an example, $100k in the year that movie came out is $262k today relying on government numbers. Originally Posted By woodsie: Originally Posted By sabre_kc: I wonder who he’s talking about. I’m under 100k, making more than I ever have, and feel great about it. This is the latest version of “they closed the mill and the town died” doom tripe I heard growing up in the 80s. Also Dollar General bro is a yardstick for success? Those stores are roach motels and are full of poor and usually fat, white people. It's not hard to feel great about a "not high income" salary/wage if you have your budget in order. I felt great about making less than $100k at points in my life as well but that just meant I was making more than I was spending and was happy with the standard of living that afforded me. I think the point of the Dollar General CEO is that $100k isn't living high on the hog anymore and that's definitely true. When I was growing up, six figures basically meant big house, all the nice toys, all the nice vacations, essentially living the "Hollywood ideal" of an American family. For example, Peter McCallister in Home Alone. Using that as an example, $100k in the year that movie came out is $262k today relying on government numbers. Yep. A volume trim half ton pickup (F-150 XLT, Ram Big Horn, Tundra SR5) is around $60k with common options. These aren't Raptors or TRXs or King Ranches. These are "normal" trucks, and these have historically been some of the best selling vehicles in America. To afford a $60k vehicle, a guy probably needs to be earning around $150k a year. A guy with a $100k salary probably has a more realistic budget around $35k. If he's shopping new, he's priced out of trucks, SUVs, and even mini-vans, and he's looking at something like a base model RAV4. That's not "high income." |
"Sometimes, the grass is greener because it's on a septic system."
"Sporterizing: The art of spending $700 on a $300 gun to make it worth $200." -GTwannabe
"Sporterizing: The art of spending $700 on a $300 gun to make it worth $200." -GTwannabe
A day without a buzz is like a day that never was
Joined:
Jan 2011
Posts:
13938
EE: 100% (54)
AZ, USA
|
Originally Posted By Camel: According to AI, 18% of US adults earn 100k or more per year. So it’s still high income. Arfcom notwithstanding. Dollar General CEO is trying to influence high earners to shop at DG by making them think they are just as broke as everyone else. We might know what their income but the other side of the ledger is important. People's expenses for housing, groceries, gas, etc. are rapidly outpacing income growth. |
Welcome to wherever you are.
|
Originally Posted By sq40: Just look at the average home price in your area, and average mortgage rate, property tax and homeowners insurance. Then look at one basic used car price and interest rate. Originally Posted By sq40: Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. Just look at the average home price in your area, and average mortgage rate, property tax and homeowners insurance. Then look at one basic used car price and interest rate. And the insurance costs of all that |
|
Originally Posted By Twisted10: too many variables. i didnt make 100k for years and i was just fine. -stay out of debt or keep it low -stop eating out, getting coffee every morning Karen -do odd jobs on the side -stop making kids etc etc Wtf kind of weak ass shit is that? I guess just give up on everything. If you sacrifice your entire life for money, what is even the point? I could make a lot of money traveling for work and having no family, but for what? To try to make up for that late in life like the whole country is doing, going through traumatic ivf treatments that cost 20k and often end in failure? |
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. Well what is high income? Because I think that standard in the middle class has fallen off a cliff. My wife works as highschool teacher, pulls in about 54k a year. Here entire salary still isn't high enough pay our income taxes. That fucking hurts before we even talk about budgets. 20% goes into retirement 3/4 of that is pre-tax the rest is after tax contributions ~$60k right there. So just paying our income taxes and properly funding our retirement is 120,000K. This used to be regular middle class thing to do, now we are "high earners" or "lucky". The problem is not that we can't afford things, it's that in order to keep a relatively conservative investment plan in place, we keep forgoing buying things. I bet we spend less money than people with half our income on daily expenses. I buy second hand clothes for fucks sake. We pretty much refuse to pay for a new car. My Dad was a carpenter with a highschool education and my Mom worked in mall jewelry store for 30 years. I have about the same quality of life they did. They bough a vacation property and drove new cars they traded in every couple of years int he 1990's. Something is broken. |
How do you do?
|
Originally Posted By Szilagyi-hpg: Wtf kind of weak ass shit is that? I guess just give up on everything. If you sacrifice your entire life for money, what is even the point? I could make a lot of money traveling for work and having no family, but for what? To try to make up for that late in life like the whole country is doing, going through traumatic ivf treatments that cost 20k and often end in failure? well, if you cant afford the little cum stains, dont make them. its pretty simple. i have a buddy struggling right now. 2 kids n a wife. both have good jobs but its the $500mo on booze, no idea how much a month on cigs, fishing trips, vacations, etc etc. im not saying be a hermit, but if you cant afford your current lifestyle, change it. |
Endeavor to Persevere
|
Originally Posted By Camel: According to AI, 18% of US adults earn 100k or more per year. So it’s still high income. Arfcom notwithstanding. Dollar General CEO is trying to influence high earners to shop at DG by making them think they are just as broke as everyone else. "High income" was never a group so broad and inclusive that it covered almost 1 in 5 Americans. Saying 18% of US adults earn $100k disproves your point, not proves it. Also according to AI, 30 years ago the number of US adults making $100k or more per year was more like 3%. |
|
Originally Posted By Twisted10: too many variables. i didnt make 100k for years and i was just fine. -stay out of debt or keep it low -stop eating out, getting coffee every morning Karen -do odd jobs on the side -stop making kids etc etc 100k was "just fine" recently, and not long before that it was "great". When I was a kid my dad was absolutely killing it at 50-60k. |
Not a day passes over the earth, but men and women of no note do great deeds, speak great words, and suffer noble sorrows. Charles Reade
|
Originally Posted By Szilagyi-hpg: Wtf kind of weak ass shit is that? I guess just give up on everything. If you sacrifice your entire life for money, what is even the point? I could make a lot of money traveling for work and having no family, but for what? To try to make up for that late in life like the whole country is doing, going through traumatic ivf treatments that cost 20k and often end in failure? Originally Posted By Szilagyi-hpg: Originally Posted By Twisted10: too many variables. i didnt make 100k for years and i was just fine. -stay out of debt or keep it low -stop eating out, getting coffee every morning Karen -do odd jobs on the side -stop making kids etc etc Wtf kind of weak ass shit is that? I guess just give up on everything. If you sacrifice your entire life for money, what is even the point? I could make a lot of money traveling for work and having no family, but for what? To try to make up for that late in life like the whole country is doing, going through traumatic ivf treatments that cost 20k and often end in failure? It's the kind of weak ass shit that results in native populations being replaced by foreigners. |
We're getting close, real close. And now for some more bad news... Ready?
|
Originally Posted By cmw: Under 100k for years and "just fine" - that's the entire point. 100k was "just fine" recently, and not long before that it was "great". When I was a kid my dad was absolutely killing it at 50-60k. Originally Posted By cmw: Originally Posted By Twisted10: too many variables. i didnt make 100k for years and i was just fine. -stay out of debt or keep it low -stop eating out, getting coffee every morning Karen -do odd jobs on the side -stop making kids etc etc 100k was "just fine" recently, and not long before that it was "great". When I was a kid my dad was absolutely killing it at 50-60k. Yes, exactly this. I made $60k back in 2004 when I graduate from college. I was "just fine" but that was also equivalent to $108k in today's dollars. The point of his statement isn't that $100k earners are poor, his point is that they aren't high income anymore. Being high income is doing a lot better than "just fine". $100k is no longer BMW driving, country club membership, springing for first class seats on Delta territory anymore. |
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. |
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. $1300 mortgage, one $400 car payment, eat out once every other month maybe. Most of my streaming services are 'free' with other subscriptions (tmobile and Amex). Our largest expense BY FAR is groceries. $600-$700 a week. It's tripled since 2020. |
|
Originally Posted By Szilagyi-hpg: When I was a teenager, I never dreamed of making 100k a year. Now I am getting close to that number, but feel poorer than ever, cutting out everything I possibly can. I’m stuck in a moldy apartment so that I can save some money week to week. If I bought the cheapest house I could finance, my savings would dwindle to almost nothing. The intention of the government/ elite is that my child goes away into constant daycare or school so that my wife may also work, and then my child can be properly indoctrinated with all of their fucking garbage. Fuck that. I will raise my own children, even if it’s not a cool, gucci lifestyle. |
A day without a buzz is like a day that never was
Joined:
Jan 2011
Posts:
13939
EE: 100% (54)
AZ, USA
|
Originally Posted By billth777: $1300 mortgage, one $400 car payment, eat out once every other month maybe. Most of my streaming services are 'free' with other subscriptions (tmobile and Amex). Our largest expense BY FAR is groceries. $600-$700 a week. It's tripled since 2020. Damn, how many people in your household? I'm getting heartburn just thinking about a $700 per week grocery bill. |
Welcome to wherever you are.
|
Originally Posted By NEXT23: You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. Originally Posted By NEXT23: Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. Yeah. I make over 100k and its not bad but its nothing like it was when 6 figure earners were shitting in tall cotton. I do have YouTube premium and a cell phone though, so I'm probably spending like a fool.  Inflation has destroyed so much of the middle class and everyone's purchasing power and its not getting better. |
Fighting for underscores everywhere.
Joined:
Sep 2023
Posts:
2241
EE: 100% (8)
PA, USA
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. Yeah I pay $2k a month in child care and $2800 a month for my mortgage/property taxes and pmi. Don’t worry it’s not a mansion. House is 100 years old and needs like $125k in work. I drive a 2011 civic. Not a lot left over at the end of the month. |
A day without a buzz is like a day that never was
Joined:
Jan 2011
Posts:
13940
EE: 100% (54)
AZ, USA
|
Originally Posted By Network_Daddy: Yeah. I make over 100k and its not bad but its nothing like it was when 6 figure earners were shitting in tall cotton. I do have YouTube premium and a cell phone though, so I'm probably spending like a fool. Inflation has destroyed so much of the middle class and everyone's purchasing power and its not getting better. Can't pull yourself up by the bootstraps if one hand is busy holding the cellphone playing Youtube Premium. |
Welcome to wherever you are.
| I didn't feel "high income" making that 15 years ago. |
Extorris, because he's a heartless cunt. The purity of his apathy is laboratory grade, and I sleep well knowing that he's out there somewhere,
not giving a shit about anyone or anything.
not giving a shit about anyone or anything.
|
Originally Posted By LV1976: And there it is, GD's favorite trope that if people would just quit drinking Starbucks, their economic struggles will disappear. It’s not expensive coffee. It’s the mindset of people who tend to overspend on frivolous/foolish stuff. It adds up and their savings game is almost always weak while their complaining game is strong. |
|
Originally Posted By cmw: Under 100k for years and "just fine" - that's the entire point. 100k was "just fine" recently, and not long before that it was "great". When I was a kid my dad was absolutely killing it at 50-60k. I guess its all perspective. ive always been one to not have debt, i hate it. |
Endeavor to Persevere
|
Originally Posted By NEXT23: You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. This. GD has this wild misconception that we all live in 500k homes, drive 100k + vehicles, etc etc. |
Endeavor to Persevere
|
Originally Posted By woodsie: "Six-figure earners" covers a pretty wide chasm between $100k and $999k. But we're talking about people making $100k per year and we aren't talking about people feeling "poor" we are talking about people "not feeling high income". If you are sweating car payments, eating out, streaming subscriptions, and starbucks, you definitely aren't high income. Originally Posted By woodsie: Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. "Six-figure earners" covers a pretty wide chasm between $100k and $999k. But we're talking about people making $100k per year and we aren't talking about people feeling "poor" we are talking about people "not feeling high income". If you are sweating car payments, eating out, streaming subscriptions, and starbucks, you definitely aren't high income. You absolutely can be. If you can't figure out how to live within your means.......you can be sweating all that stuff, no matter how much money you make. $100K is a pretty good salary. |
|
Originally Posted By Commando223: Imagine for all those making half that. I’m in the 100k range, in a low COL area, and it definitely does not feel like I’m high income. With that said, the quoted post is exactly what I think about when money is tight and things are expensive. I’m thankful for everything that I have. |
|
Originally Posted By NEXT23: You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. Originally Posted By NEXT23: Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. You're out of touch. I make just right at $100k Dive a paid off 2006 Tundra Live in a paid off house. I'm not in horrible shape but I aint having fun. I also make right at $100K (before taxes), live in an almost paid off house, owe the bank for nothing except the mortgage, drive an 05' F250, have some land, have a boat, camper, all kinds of toys, and plenty of money in the bank and invested. I also am smart with my money, and live within my means. I also have a budget, and know where all of my money goes. I also started up a small side business for extra spending cash. In today's day and age, as long as you are able to put in the effort....there is money to be made. It just takes hard work and determination. Way too many people crying about not making enough money, but they spend hours at home surfing on their phone or playing video games. Maybe spend that time learning a new skill, or coming up with some ideas to make some money on the side. It's not like I'm eating beans and rice every night either 
|
|
Originally Posted By LV1976: Its very important for a retail company to know it's customers spending habits and income levels. This is how they forecast what to buy, how much to buy, where to open new stores, etc. There are twenty three of them within twelve miles of my house 
|
|
Originally Posted By imq707s: I'd love to see the budget of those six-figure earners that say they "don't feel high income"....... probably spending thousands a month on junk, going out to eat, huge car payments, 10 different streaming services, starbucks, etc, etc...... But nobody wants to ever talk about that....... No different that those people who win millions in the lottery, and then are bankrupt in a couple of years. Some people are just bad with money....no matter how much they make, they are always broke. Food prices, ever increasing property taxes and energy costs are eating more and more every month. Childcare is a massive expense now. It's not all junk and ridiculousness. |