Web Hosting Talk : Other Forums : Web Hosting Lounge : Do you think $50,000 per year is rich?

[lexington]

I ask since I feel that is really not a lot of money but when friends ask how much I make per year they act like I said a billion dollars or something. Then again I can afford a nice house or condo in what is considered the high class rich area and have a nice car so I suppose it is considered rich? I remember as a teen working my butt off for $230 per week so it is weird being able to earn so much just from working on the internet. To me $100,000+ per year is really good but $50,000 - $60,000 is decent. I am not too excited though since I wonder if the internet will drastically change in the next decade where every site is only using flash and some form of javascript and offered free to everyone by some corporation.

[WireSix-Matt]

50k is good, but it isn't awesome.
Of course I won't be happy until I don't have to work.

[JRSEOMarketing]

$50,000 is considered in most place middle-class. Take places like Oklahoma/Texas $50k/yr is a good amount of money. Over here in Cali... $50k/yr.. really isn't too good.

[lexington]

Well I know in the past any time I took a chance that is when everything suddenly went bad without warning. If I went out and bought a fancy car and bought nice clothes, I would no longer make any profit So I am paranoid and afraid to buy any big personal items like a house or car. Almost all of the money I earn is put right back into my business.

[Dark Light]

Depends on how/where you live. If you live in a "not so upmarket" place then $50,000 is probably a large amount of money to get paid; if you live in a more "upmarket" place and everyone earns more than that then you could probably say it's not a large amount in that situation.

Personally I would say that it's good, but not really "rich"; though it depends on how you consider it.

Best Regards,

[lexington]

Originally Posted by PinkFloydWS

$50,000 is considered in most place middle-class. Take places like Oklahoma/Texas $50k/yr is a good amount of money. Over here in Cali... $50k/yr.. really isn't too good.

Haha yeah that is for sure. There and in NY, a one bedroom 600 square foot home without a bathroom is $900,000

[WireSix-Matt]

I understand that. Everytime I reach a certain amount of money in the bank my car needs money. I hate it.

[lexington]

When I was 20 years old (eight years ago) I used to just enjoy life and have fun with my friends every weekend. I had excellent credit and wasn't worried about anything since I figured if a problem came along I would simply solve it and continue having fun. However my dad got a divorce and forced me to get a loan out on my car for $3,000. Then suddenly my car broke down and I couldn't get to work or pay $700 to fix it. So I basically lost all that I had in a matter of a week. It tooks years to get out of that hole and $10,000 in debt, so now I am paranoid when it comes to personal spending and I always prepare for the worse. I basically save all of my money and material things mean nothing to me. I like walking around the mall in my gym clothes since people have no idea what I do. They probably think I am a poor factory worker or something lol.

[Rageki-John]

50k a year is just the average income. You'll be able to pay your bills and probably get yourself something nice every once in awhile. I don't know why your friends would think your rich with 50k considering you have to save for awhile if you want something nice like a brand new car or house.

[WireSix-Matt]

Clothes are over-rated anyway.

[lexington]

Yeah but when I am at the gym there are guys who brag about making $400 per week lol. I never say anything I just smile and am amazed that they do not realize that they really have nothing.

[David]

$50k a year is pennies. But yes, it's all relative.
You could be considered 'middleclass' in areas where cost of living is at the median but in the majority of urban locales -- you'd be in the poorhouse.

(I've worked for a lot less but you learn to quickly see dead-ends )

[WireSix-Matt]

Nothing is a relative term. I made 60k a year at a job.
But I was a raging alcoholic and drank it all away.
Now I make 30k and live very comfortably, even get to wear clothes.

[innovation]

50k a year... plus taxes
That's middle class, it's GREAT if you're in your early twenties as you don't have as many bills as you do when you're older (except college bills ), but it's still middle class.

If I made 80k a year, then I'd be very happy.

[David]

Originally Posted by WireSix-Matt

Nothing is a relative term. I made 60k a year at a job.
But I was a raging alcoholic and drank it all away.
Now I make 30k and live very comfortably, even get to wear clothes.

Eh, how is it not relative -- it's directly related to local cost of living, spending habits & lifestyles. $50k a year can buy you two houses annually on Prince Edward Island (ignoring taxes), or barely cover your rent in Toronto.