so what did you make this year?

[Junkflyer]

I don't care who you are $32,000 is not a lot of money. If you want to set the bar low for yourself thats fine, but you'll find very few if anyone that agrees with you.

 

[waveflyer]

An "old hat" (if he ever wore one) recently sent me this..


From Kiplinger's Financials:

"The data shows that an income of $32,879 or more puts you in the top half of taxpayers. Earning a bit more than twice that much -- $66,532 -- earns you a spot among the top 25 percent of all earners. You crack the elite top 10 percent if you earn more than $113,018."

$32,000 is a lot of money, especially when you remember that these are U.S. Statistics...The rest of the World would drool over an income like this.

Circa, 7/08

Oh.here ya go..http://www.kiplinger.com/features/archives/2007/11/taxrank.html

a quote designed to have those who make $32k feel better about it and not fight for a middle class.

When execs and money managers start bringing in $32k I'll agree it's "a lot"

 

[Whine Lover]

Why not? No matter where you work you have to eat. I spend less on food at work than my friends who have 9-5 jobs. Breakfast is always free and lunch is usually cheap or leftovers from breakfast or leftover 1st class meals / snack basket. Dinner isn't a bank breaker. I come out way ahead on per diem and rarely pack much for food. Any incoming $$$ is income.

I'm glad somebody among us can think logically.

YKW

 

[Whine Lover]

a quote designed to have those who make $32k feel better about it and not fight for a middle class.

When execs and money managers start bringing in $32k I'll agree it's "a lot"

After 22 years in the airline industry here is a brief review:

When I made $32,000 and had a family of 3, we did just fine. Lived in nice little houses, went to dinner, took vacations.

When I made $80,000 paid child support owned my own home etc. I did just fine, lived in a nice little condo, spent money wildly on layovers, took vacations, drove a little Mercedes.

When I made $150,000 +....Well, I didn't live a damn bit differently than I did on $32,000 except I bought a new car, rented out the little condo, paid increased child support and taxes, went to dinner, took vacations and bought a slightly larger condo.

Now, I am unemployed-semi-involuntarily-retired....I make $0 per year....And I don't live one iota differently than when I made six figures, or 30 grand for that matter.

Why?

Because $32,000 is a lot of money and every year between $32.000 and $150,000 I lived on $32,000 ( give or take a bit) and banked/invested the rest.

Due to sheer boredom ( Retirement is not easy Folks ) I am looking at taking a flying job for ...you guessed it, about $35,000 per year. ($42,000 with per diem)

I will be banking about $500/month on that income.

No....I don't eat Ramen noodles, I have ZERO debt other than a small mortgage, and yes.... I like, and make my own homemade, Macaroni and Cheese the old fashioned way ( not from the 59 cent box) at least once a month.

Tonight will be a 22 oz. Steak with all the trimmings. That is the rule rather than the exception. Thank you.

Families of 5-6 do well and get by on $30-40,000 per year.

It is a fine amount of money....If you have perspective, which 98% of the people in this country have lost.

Dave Ramsey knows what he is talking about....And I lived his credo long before Dave Ramsey ever did.

YKMKR

P.S. - I also live in the third most expensive City in this Country after New York and Los Angeles. If I can get the hell away from these taxes , housing prices etc. , I will be rolling in cash on 30-40k annually.

 

[Whine Lover]

Just to add:

A good friend of mine, who is perpetually on the edge of bankruptcy, makes $55,000/yr. He supports himself and one Son.

After being informed that he might be in position for a $20,000/yr raise, he asked me how well he thought a fella' might live on $75,000/yr.

My answer:

"If you can't live on $55,000/yr ....You can't live on $75,000/yr."


Think about it.


YKMKR

 

[waveflyer]

That's great advice to give to someone.

And I agree and do not believe in the rat race or materialism that infects most Americans -

That being said- it's utter bullsh!t. Especially in the tone and audience you're speaking to. Pilots. $32k is not a lot of $$. Period.

And by your own argument you'd be rolling along if you could just get out from underneath paying your share of taxes. What's that? 15% at $32k. So an extra $4600 is worth complaining about- (which I doubt you pay all of) but not an extra $50k to get you up to a decent wage?

You say yourself- that you can survive on $32k. Invest at 50-100k. At what point can you not even survive?

Bc guess what - most regionals start out at $20k.
You can survive on $32k- but you build wealth at $70-100k. That's the difference.

If I'm talking to one friend- I talk about spending and valuing the dollar and focusing on what really makes you happy. When I look around at the $$ other people pocket for doing less skilled less responsible jobs and $32k is awful for what we do.

Again- if $32k was a LOT of money- why do we put up with execs who make a thousand times that? And routinely 100 times that? If you argue it's bc they take on responsibility and have skills and knowledge... Than that ought to apply to pilots as well-

I swear(!)

let me ask you- what amount would be too low in your opinion?

 

[waveflyer]

Btw - I have thought about it. I don't mean to lose your point bc it's a good one and it would be a mistake. I've known plenty of gaudy rich poor people- you know the stressed out over worked Lexus drivers screwing up their families over debt for things they don't need.

But in the end- it's our business how we spend our money. And bottom line, my personal wealth increases more rapidly at $80k than it did at $50k and barely increased at all at $30k. It went backward when I made $18k. Your argument whinelover, makes money out to be purely subjective. It's not at all. It's the most objective thing we have- hence ayn rands philosophy.

Whether a pilot is wise with their money and builds wealth- or is unwise and buys toys - it's none of my business. But I didn't invest in my education and work as hard as I've worked to make $32k, which can be equalled with a GED and a mcdonald's application.
If that's me losing perspective, so be it. I stick to it.

We are worth more than we are collectively paid. And proving that we could be wiser with our money doesn't justify paycuts.

 

[chignutsak]

Whine lover said it all. They key is not being slaves to lenders. Even a modest income is more than enough. The most important part is to strip out the crap in your life you really don't need; you definitely don't want to go into debt for it.

 

[BayBum37ft]

I barely made this year what I paid in taxes in my last year at ATA

Former ATA 757 Captain (20 years)

Now 135 co-pilot (1 1/2 years)

I am living in a house and neighborhood that I cannot afford and my wife was recently laid off.

Not complaining, just the facts.

 

[buxflyr]

Oh I can make lots of things; a Hat, a Brooch, a Pterodactyl...

Excellent usage of "Airplane"! Nicely done!