What's a well paying job?

[Stewie]

What do you consider being "well paid?"

[Saul Good]

Originally Posted by prhom

Is that per wage earner or per capita?

26 gallons * $3.50 per gal = $91 per day

$91 per day / 8 hrs worked per day = $11.375 per hr

52 wks per year * 40 hrs worked per wk = 2,080 hrs worked per year

2,080 hrs worked * $11.375 =

$23,660 a year, seems a little low to me?

That's per calendar day, not per work day.

National average for gas is $3.70. $3.70 x 26 x 365 = $35,113

[Saul Good]

Originally Posted by CrazyPhuD

Welcome to living in a city or a general high cost area. Start at 150K Take 40% off the top for taxes You now have 90K left.

This isn't even close to accurate.

Your earnings aren't taxed at your highest marginal bracket from dollar one. If you earn $150,000 and don't claim any deductions, your total Federal burden is 20.16% or $30,244 (assuming married, filing jointly). You would be left with $120,000 not counting state and local taxes. Even after factoring in state and local, you are still left with over $100,000. Again, that is without taking ANY deductions.

[SLAG]

This thread has put some things in perspective for me...

and i am seriously considering moving somewhere where my money can go farther... i think its possible i'll enjoy my job more....

open to suggestions for places - lets keep it in the Continental US

[Misplaced_Chiefs_Fan]

Originally Posted by Saul Good

That's per calendar day, not per work day.

National average for gas is $3.70. $3.70 x 26 x 365 = $35,113

That's what I was getting paid as an E-7 back in 1999.

Luckily, I'm doing a tad better than that now.

Considering CoL here in Maryland, a damn good thing too.

[Bearcat]

Originally Posted by SLAG

This thread has put some things in perspective for me...

and i am seriously considering moving somewhere where my money can go farther... i think its possible i'll enjoy my job more....

open to suggestions for places - lets keep it in the Continental US

The other side of the state line?

I guess it depends on the industry, but I know my paycheck would go down at least as much as the cost of living would if I moved to a smaller city.

[Saul Good]

Originally Posted by SLAG

This thread has put some things in perspective for me...

and i am seriously considering moving somewhere where my money can go farther... i think its possible i'll enjoy my job more....

open to suggestions for places - lets keep it in the Continental US

Will you be able to earn the same amount anywhere you move?

[joesomebody]

I said 55-75. I'm fresh out of college and am looking for the 35-40k range. I can live quite well on 35k, but I think for a family man/woman 55k or more is well paid. Me, single and relatively low in debt, 35k is just fine.

[Otter]

Good cash flow is relative to what makes you happy. I always admired people who made a living doing things like chartering fishing boats for a living. No one to report to but themselves pretty much, work is mother nature and they all seem pretty happy.

If you're stuck in corporate America however dealing with the BS that comes with it working for a soulless entity the answer is 'as much money as possible'.

I choose the Gaz option.

[SLAG]

Originally Posted by Saul Good

Will you be able to earn the same amount anywhere you move?

Yes

I can pick up and work from home 100%

[58-4ever]

Originally Posted by Otter

If you're stuck in corporate America however dealing with the BS that comes with it working for a soulless entity the answer is 'as much money as possible'.

I choose the Gaz option.

This. A shitty job will make you rethink a 6 figures.....but probably not upper 6 figures. Either way, It never feels like enough.

[RJ]

Originally Posted by Otter

Good cash flow is relative to what makes you happy. I always admired people who made a living doing things like chartering fishing boats for a living. No one to report to but themselves pretty much, work is mother nature and they all seem pretty happy.

If you're stuck in corporate America however dealing with the BS that comes with it working for a soulless entity the answer is 'as much money as possible'.

I choose the Gaz option.

I remember back in the early 80's meeting an American dude in cancun who had a para-sailing business. He had a boat, a parachute and a beach. I was instantly envious. I should have learned something from that.

[RJ]

Originally Posted by 58-4ever

This. A shitty job will make you rethink a 6 figures.....but probably not upper 6 figures. Either way, It never feels like enough.

Fact: The more more money you make, the more bullshit you are likely to put up with.

Originally Posted by RJ

Fact: The more more money you make, the more bullshit you are likely to put up with.

I was making $150k by the time I was 25. Now I make less than half that working twice as hard and I'm 10x as happy.

[Rain Man]

Originally Posted by Phobia

I was making $150k by the time I was 25. Now I make less than half that working twice as hard and I'm 10x as happy.

That means your happy-work-per-dollar ratio has gone up by a factor of 50.

[CrazyPhuD]

Originally Posted by Saul Good

This isn't even close to accurate.

Your earnings aren't taxed at your highest marginal bracket from dollar one. If you earn $150,000 and don't claim any deductions, your total Federal burden is 20.16% or $30,244 (assuming married, filing jointly). You would be left with $120,000 not counting state and local taxes. Even after factoring in state and local, you are still left with over $100,000. Again, that is without taking ANY deductions.

Actually you might be surprised and no I was not accounting for married I was using single rates.

CA has a top state tax rate of 9.3% + 1.2% for CA state disability insurance(tax). The CA disability phases out around 95K

State bracket
0-~7K 1%
7K-~17K 2%
17K-~27K 4%
27K-~37K 6%
37k-~47K 8%
>47K 9.3% (ok it's 10.3 for over 1million but that's not relevant here)

FICA caps at 106,800 at 6.2% and Medicare tax is 1.45 with no cap

Fed single bracket
0-~8K 10%
8K-~34K 15%
34K-82K 25%
82K+ 28%(assuming we are dealing with numbers under 171K)

at 150K you'd owe

CA state 70+200+400+600+800+9579 = 11649
CA disability(since you hit cap) = 1140
FICA = 6622
Medicare = 2175
Federal = 800 + 3900 + 12000 + 19040 = 35740

Total 11649 + 1140 + 6622 + 2175 + 35740 = 57326

57326/150000 = an effective tax rate of ~38% So you're right I did overestimate the effective tax by ~2% or ~$3000. While deductions will help lower that some, most high incomer earners lose the state tax deduction because CA's high income tax rate forces them into AMT. Which is the most F'd up part of AMT. I can't be avoiding taxes by paying state tax......