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What is a good wage these days?


Lloyd90
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There is no totally correct answer to this question. I took a £5k cut in pay and left a really unpleasant place of work, the people i worked with were some of the most unpleasant people i have ever met! I earnt less money, but I became a lot happier! Has anybody mentioned those words "Quality of Life"? 

Cheers

Aled 

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One thing I would say from experience of being on a decent wage for the past few years as a site manager with my wife being minimum wage part time is its better financially to both earn medium wage rather than one person in the partnership earning a high wage. As soon as you touch into high rate tax you basically just get hammered on everything by the tax man.

I am looking in the next few years now the daughter has nearly finished Uni and my Mrs has got a better paid part time job to downshift as running the numbers I wouldnt be that worse off and would have a significantly lower stress level/ would enjoy my job a lot more.   

 

Also as Aled said above no matter what the money over the years I have found that being in a job you hate and with people you dont like can never be compensated with money in my opinion it will in the end just destroy you. 

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14 hours ago, 12gauge82 said:

How much would your average house cost you over there (what state in the US are you?) 

I’m in NC/Charlotte area.  A decent house is around 300-400k nothing fancy, 2200sqft/ garage one acre.  I live pretty good because I got all my houses paid off.  Under Trump side gig money was flowing like water.  I knew it wouldn’t last.  So I paid all my properties off instead of buy trucks, boats, helicopters like my neighbors.  But unfortunately, work is drying up and recession is on the horizon.  We have already had the meeting about canceling orders and things are getting tight.  But I will be alright.  My wife got the jab to keep her job at the hospital so we can pay our bills on her salary hopefully.  She is have some adverse problems from it.  But she has another doctors appointment.  

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14 hours ago, RockySpears said:

  Nope, that is practically the 1% group for UK:

"To be in the top 1% of income tax payers in the UK (i.e. to be among the 310,000 individuals with the highest income), a taxable income of at least £160,000 is required."

and for the World:

"You need just $34,000 annual income to be in the global elite" ... https://www.dailymail.co.uk/news/article-2082385/We-1--You-need-34k-income-global-elite--half-worlds-richest-live-U-S.html

 

RS

It all about location.  If I moved two hours west I could live like a king on 120k a year.  But two hours west I’d be working at a gas station making $15 an hour.  It’s called the big city retirement plan.  Work in the city.  Make more money and buy a more expensive house. Sell house for 500k and buy (5)100k houses in country.  You then have 4 rental houses.  

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27 minutes ago, NoBodyImportant said:

I’m in NC/Charlotte area.  A decent house is around 300-400k nothing fancy, 2200sqft/ garage one acre.  I live pretty good because I got all my houses paid off.  Under Trump side gig money was flowing like water.  I knew it wouldn’t last.  So I paid all my properties off instead of buy trucks, boats, helicopters like my neighbors.  But unfortunately, work is drying up and recession is on the horizon.  We have already had the meeting about canceling orders and things are getting tight.  But I will be alright.  My wife got the jab to keep her job at the hospital so we can pay our bills on her salary hopefully.  She is have some adverse problems from it.  But she has another doctors appointment.  

Sounds like a good lifestyle out there. Biden is an idiot, love or loth trump, no one can say he didn't hold a hand of friendship out to the UK, and he got stuff done. Sleepy Joe is a puppet. 

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11 hours ago, NoBodyImportant said:

You then have 4 rental houses.

  I did the same sort of thing whilst IT contracting for 10 years.  Although I have to say I did learn to fly in that time too.  I simply don't understand people and "things"; new cars, branded clothes, £5,000 holidays etc etc.  Little thought for the future.

  In the modern world we can almost all look forward to being active until our 80's more or less.  Father and mother in Law are away every couple of months just seeing somewhere different, with a hot tub and champagne for the beginning and end of the day.

  I know that I will probably be retired for longer than I will have worked, all things equal, so have planned accordingly. 

 

RS

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25 minutes ago, RockySpears said:

Little thought for the future.

I remember the assistant chief fire officer of Tayside when people make these kinds of statements, excellent wage for many years, huge lump sum and retirement package and he dropped dead the first day of his retirement. Work life balance, I am to the day ten years retired, my wife just over a year and both 61 years old, not got huge sums coming in and a little bit in the bank, as Dickens wrote; Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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2 hours ago, henry d said:

I remember the assistant chief fire officer of Tayside when people make these kinds of statements, excellent wage for many years, huge lump sum and retirement package and he dropped dead the first day of his retirement. Work life balance, I am to the day ten years retired, my wife just over a year and both 61 years old, not got huge sums coming in and a little bit in the bank, as Dickens wrote; Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

:good:I am ten years retired and now 61. I have to make the most of the next two years as my wife wants to retire in two and will no doubt pester me to do 'other stuff'. :lol:

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I contracted for years around the world and felt quite well paid on 70 Euros ph on the last one at RR Chichester in 2017 plus all my living costs there were paid by the overseas agent as I had come in from Germany to do the job. I overheard a postman on the Isle of Wight at the next breakfast table in the hotel proudly telling his mates he took home £399 pw for doing a full week, how he covered his bills god knows. Happy to be out of that rat race now though and I need less funds than I expected to get by.

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