wooddog Posted November 13, 2008 Share Posted November 13, 2008 How much additional income would you need to meaningfully change your day to day life? Link to comment Share on other sites More sharing options...
Merlin Orr Posted November 13, 2008 Share Posted November 13, 2008 I think how much LESS income would it take to meaningfully change your day to day life would be a more meaningful question for most of us. Once you get 3 hots and a cot all else is gravy.... It seems to me that most people who get better and better jobs/positions always keep the same debt percentage and seldom have any more free time or enjoyment in their lives than they did "back when." If I had as much income as I do now ..without having to get up every day (more or less) and go to work THAT would be a big change but I don't know about the meaningfully part of it..... Link to comment Share on other sites More sharing options...
wooddog Posted November 13, 2008 Author Share Posted November 13, 2008 I think how much LESS income would it take to meaningfully change your day to day life would be a more meaningful question for most of us. I thought of that too. As a follow up: If your income doubled, how long do you think it would take to alter your spending habits so that you would have as many financial concerns as you do now? By the way, this came out of The book of questions by Gregory Stock. Link to comment Share on other sites More sharing options...
SiG Lady Posted November 13, 2008 Share Posted November 13, 2008 I'm actually distinctly underemployed (therefore under-compensated) at the moment, so I could use a tad more each month so I access a little more food now and then, actual medical care now and then, and afford a tad more ammo (so I could shoot a bit more now and then). But I've pared down my expenses over the years to amounts you wouldn't believe: If everyone in the country took MY budget-cutting seminar, we wouldn't have any economy at all. My budget would make you shudder. So I'm kinda off-the-radar in terms of consumerism and debt. I have ZERO debt. I have only routine expenses. If I can't afford something, I don't buy it. As soon as fall academic quarter is over (which is taking up 12 hours or so a week for one class) I'll be back on the hunt for an additional 1-2 days a week job to supplement the 5-days-a-week part-timer I already have. I need that extra hundred or so a month to assure a break-even. And right now even that humble prospect looks grim. As a legal office admin support person (part-time), I see--in great detail--the excesses and blunderings of people and their debt, credit and spending habits in processing bankruptcy cases. It's insane. Utterly insane. People simply LIVE BEYOND THEIR MEANS no matter how much or how little they earn. It's as though they're totally oblivious to the consequences of spending. Totally. I can't understand it. And I don't think some people are EVER going to 'get it' when it comes to credit counseling or the actual needs of the human animal. The ones who've tried to beat the system, though, are getting their three-hots-and-a-cot in the local Nick. Not a profitable or "meaningful" venture. To answer your question, I should be making a little over twice what I'm making per month right now to be considered at a "living wage" for a single adult, sole householder, one job. I was extremely fortunate a couple of weeks ago to be RE-HIRED by my former employer (a job layoff I experienced in mid-August) and I'm more in the loop with them than ever and the job, though part-time, is a serious keeper for awhile. A decent situation, given the job climate in Eugene (which never seems to be "good"). Link to comment Share on other sites More sharing options...
Miranda Posted November 14, 2008 Share Posted November 14, 2008 I think most people can think of what to do with double their current income. what I find interesting is what folks would do if they did not have to be at work 5 days week (or what ever work is now) I think I'd get tired of watching tv all day. but I am not at all sure what I'd do after that. Maybe go on a walkabout. miranda Link to comment Share on other sites More sharing options...
Jim Rusert Posted November 14, 2008 Share Posted November 14, 2008 I could make a more meaningful change in my day to day life with one completely free day each week. Link to comment Share on other sites More sharing options...
kevin c Posted November 14, 2008 Share Posted November 14, 2008 I could make a more meaningful change in my day to day life with one completely free day each week. +1 The time is worth more than any amount of money... Link to comment Share on other sites More sharing options...
VegasOPM Posted November 14, 2008 Share Posted November 14, 2008 The funny thing is that I have been a poster child of the phrase "your expenses increase to match or exceed your income"- until recently. I have started looking at what really matters and why I buy things. I love shooting, yes... but why do I own over 70 guns?!? I love riding motorcycles.... but do I really need 4? Why did I spend $1000 to make my offroad bike more powerful and then not ride it for 5 months? My personal favorite was when I found myself buying a holster, mag holders and magazines to outfit a pistol THAT I DIDN'T LIKE?!?!?!?!!? That was actually the trigger to contemplate my lifestyle. The bottom line is that I have the lifestyle that I like and that no additional money should affect my daily life. Although having more money for trips would be nice..... oh and that new Glockworx trigger in all 4 of my competition Glocks..... and a Porsche Cayman.... I'm doing it again aren't I? Link to comment Share on other sites More sharing options...
Matt Cheely Posted November 14, 2008 Share Posted November 14, 2008 One million dollars Link to comment Share on other sites More sharing options...
Jeff686 Posted November 14, 2008 Share Posted November 14, 2008 (edited) As soon as fall academic quarter is over (which is taking up 12 hours or so a week for one class) I'll be back on the hunt for an additional 1-2 days a week job to supplement the 5-days-a-week part-timer I already have. I need that extra hundred or so a month to assure a break-even. And right now even that humble prospect looks grim. OMG! Your a duck!! I'm sooooo sorry. Edited November 14, 2008 by Jeff686 Link to comment Share on other sites More sharing options...
Jeff686 Posted November 14, 2008 Share Posted November 14, 2008 Oh, and I don't need more money for a 'meaningful change', what I need is a feeling that my current position will last until retirement. Link to comment Share on other sites More sharing options...
Coolduckboy Posted November 14, 2008 Share Posted November 14, 2008 As soon as fall academic quarter is over (which is taking up 12 hours or so a week for one class) I'll be back on the hunt for an additional 1-2 days a week job to supplement the 5-days-a-week part-timer I already have. I need that extra hundred or so a month to assure a break-even. And right now even that humble prospect looks grim. OMG! Your a duck!! I'm sooooo sorry. better than living with the sheep in corvallis......oh yeah i went there. Thread drift over. Link to comment Share on other sites More sharing options...
Jim Rusert Posted November 14, 2008 Share Posted November 14, 2008 One million dollars It's really not that much money anymore . . . Link to comment Share on other sites More sharing options...
mlmiller1 Posted November 14, 2008 Share Posted November 14, 2008 When they first implemented the lottery in Texas, I thought long & hard what it would take for me to quit working for the fire department. I decided at that time, it would take at least $3 million. Now that I have finished my 20th year & have a guaranteed income when I do retire, that number has come down to $1 million lump sum. I am pretty sure I could fill my time very constructively, do some good, shoot some more, & be my own boss for that amount. I would definitely give it a try if given the opportunity. I still don't play the lottery, though. Never have, never will unless I find a ticket on the ground or get one as a gift. I waste money but not on lottery tickets. Guess I won't be winning $1 million any time soon. I am very grateful for the job & the retirement I do have. It is a fairly stable job. Quite a change after years of self employment with the only pension being whatever I might have been able to rathole away. In other words, no pension. MLM Link to comment Share on other sites More sharing options...
SiG Lady Posted November 14, 2008 Share Posted November 14, 2008 When I was working some political campaigns in Washington State, a retirement-age campaign manager said, "Hurry up and retire so you can do volunteer work!" She was right. If I didn't HAVE to work (it's the money, you know) I'd overdose on volunteer work. I'm already partly there (the volunteer work part) and wouldn't trade it for anything! I recently found out that 36% of the adult population here in Eugene volunteers somewhere in the community. That was far more than I ever expected! There are tons of volunteer opportunities in most any fair-sized community. Given that, none of us should ever run out of things to do when we quit working... if we ever do. But I get off on being involved out there with the city, so this kind of thing (work, volunteerism) is "meaningful" to me. Hey, I've received awards for this kind of thing. How can I NOT be involved? Yes, a duck. But I didn't attend the U. of Oregon. (God, who can afford that???) The last couple of duck games were played in driving rain, and no one could hang onto the football! One win, one loss. Oh, and VegasOPM makes excellent points in his post. Read them again. Link to comment Share on other sites More sharing options...
Jeff686 Posted November 14, 2008 Share Posted November 14, 2008 Sig Lady, you a pilot? Link to comment Share on other sites More sharing options...
rrflyer Posted November 14, 2008 Share Posted November 14, 2008 (edited) Well I'm pretty young, 26, but make(what I consider) is a good living for my age. Though my first couple of years out of college I was eligible for foodstamps while working OT! On the 10th of next month I'll have paid off 55,000 bucks worth of student loan, credit card, and auto debt in the last 2 years. After that it wont take any increase in pay to do whatever I want. Having no bills gives you the ability to do what you want and live the lifestyle you want. My company has slowed down quite a bit but again it doesn't worry me and actually I'm kind of excited about the possibility of taking a 3 or 4 month leave of absence. I've been wanting to go to australia, new zealand, alaska, and denmark/sweden/norway(where my familys from) since I can remember. With 3 or 4 months I could relapse into surf bum mode pretty easily. I guess the idea is most people can change there life and live how they want if they're willing to sacrifice and get out of the debt trap. That being said If i ever hit the lotto theres 10,000 acres in the Texas hillcountry thats calling my name. Edited November 14, 2008 by rrflyer Link to comment Share on other sites More sharing options...
rrflyer Posted November 14, 2008 Share Posted November 14, 2008 (edited) ......... Edited November 14, 2008 by rrflyer Link to comment Share on other sites More sharing options...
el pres Posted November 14, 2008 Share Posted November 14, 2008 (edited) You guys know about the website right ?? The Treasury Dept. has set up website where you can download and apply for some of that 700B giveaway of our money (pathetic). I took a look at the app. and thought I could apply as a single familly houshold corp. with myself as the CEO !! A mil or two would do for now !! Edited November 14, 2008 by DIRTY CHAMBER Link to comment Share on other sites More sharing options...
zhunter Posted November 14, 2008 Share Posted November 14, 2008 I agree, a million is not that much anymore I can't see my life changing a whole lot with money, time, yes!!! Give me more time. Link to comment Share on other sites More sharing options...
want2race Posted November 14, 2008 Share Posted November 14, 2008 It woudn't take much to make a significant life change. An extra $1k a month. It's enough to do anything I want, but not enough to do nothing. Link to comment Share on other sites More sharing options...
Jaxshooter Posted November 14, 2008 Share Posted November 14, 2008 When I started workig full time you could retire on 1 million. I also said then if I had a six figure annual income I would have it made. As it turns out all things change and when you get there is is still not enough. The most important things are family and health. I'll take them and stay where I am with the money side of things. Link to comment Share on other sites More sharing options...
gino_aki Posted November 15, 2008 Share Posted November 15, 2008 Being laid off for the first time in twenny-sumpin' years has reacquainted me with the "yah, I'm in the way beyond my means group" but I always rationalized with "well, I wanna do things NOW, while I'm still young enough to be able to." Getting past fifty has actually made this worse. That being said, there probably isn't enough money to be able to afford the things i wanna do...When I'm daydreaming about how much money I'd like to have as a means to my ends...I think in trillions of dollars. Start by buying back the whole State of Hawai'i. Practically speaking however, I'd like to reacquire the 4k a month I got from renting out the big CAT dump...made it a whole lot easier to stay out of that distressed mortgage category. And I'm thinking all extra money should now go towards buying me time...if I gotta work all that friggin' overtime to get it...it ain't worth it. Link to comment Share on other sites More sharing options...
el pres Posted November 15, 2008 Share Posted November 15, 2008 Acually it's gonna be about $3,893,000.00, this will allow me to not work (more time) and be able to keep up the lifestyle with a simple interest account (paycheck). I'm not putting it in that market anymore.. On second though, I would also have to put it in 39 seperate accounts so that it could all be insured !! Link to comment Share on other sites More sharing options...
SiG Lady Posted November 15, 2008 Share Posted November 15, 2008 Jeff686, no I'm not a pilot. I used to do a lot of aerial photography, however. Perhaps that's where the impression came from. I haven't done any for a couple of years--no call for it and it's a little costly to go aloft just for personal archive shots, as much as I'd like to. Do you have a plane...? Link to comment Share on other sites More sharing options...
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