Salary question for those over 30

[Cizzle]

Using 1988 (year I was born) to be the starting point where 100k was 100k (it's not, 1983 is, but we'll just use it), cpi = 116, cpi for starting 2008 is 212.5, so the new 100k after 20 years is 183,203, so roughly 185k is the new "100k".

[lamebums]

  golf_junkie27 said:

What exactly has gone up by half or more? It's not clothing, it's definitely not housing, it's not sports equipment or cars. Neither is it electronics, footwear or food. I'm actually paying less for certain food products, like milk, than I did, last year. So, what exactly, has risen by 50% or more?

Bread has doubled, orange juice has doubled, milk is up by 50% (and most cheeses are through the roof). Gas has gone up by 50% since this time last year. I can't believe how little $50 buys at the store now - everything's gone way up.

[Divot]

All very interesting stories...My wife and I do not make 100k, more like 80k, which is not bad considering one of us is still working through grad school.

I wanted to comment on finances, as it seems the cost of living relative to your income seems to be where the topic has shifted.

My wife and I have employed a limited-credit strategy to finances and have managed to live quite well. We only use credit for the larger purchases (house and cars). We also use our credit cards for daily purchases but pay it off every month, effectively eliminating credit card finance charges but reaping the incentives for using the card. We typically receive $5-600 in gift cards annually for using the card. Not bad.

My wife and I do this through managing the our "small" purchases and simply saving for large ones. I have found that eliminating latte's, bagging lunch and making dinner is the way to go. I was amazed at how managing these everday "luxuries" allowed us to enjoy other, less frequent, luxuries. We go to sporting events and well, play golf every month...within reason of course. We have also managed to save money! Now if the Fed would stop lowering interest rates we would be a bit more happy.

What has been interesting about sticking to a strict "small" item budget has been the noticable increase in the price of these goods. Our groceries were teh first thing that caught our eye...we went from a weekly $40 bill to a staggering $50-60 bill in the last year. Yet they tell us that "core" inflation is not going up...

[niblick]

I make a little over 100k and with two small kids and a mortgage on a modest home in the Seattle area, it's a comfortable and decent life. Nowhere near extravagant though.

[noxnasdaq]

$132,000. Average inflation for the last 10 years is roughly 2.8% annually, so there's my answer.

And why are we discriminating against those under 30 (I'm 28)? I'm under 30 but can still have some insight into this question. The primary driver is cost of housing. Starter homes that used to be $80K are now $140K.

I firmly believe you can live on what you make (some exception to the rule), but the old saying of you spend more when you make more is true. Money doesn't go nearly as far when you look at savings, retirement, tithe, housing, transportation, etc. The best thing that has happened to me is my wife is self employed, while I'm W-2. The first sign of poverty is a W-2 (kidding, but not really). We save a bundle with my wife self employed and the write-offs.

Luckily my wife and I think alike on money and debt. We have a 15 year mortgage and one car payment, and I have a small student loan from college. Hopefully by the time I'm 40 I'm completely debt free.

[Ruari]

I would say 100K is still 100K - but the currency has changed, from $ to £££s...