What is your annual income?

[bigneil]

8% of members make more than $200K eh? Funny, that would be twice the national average.

I would suspect SS members are more likely to lie versus be extremely wealthy.

Those who legitimately make that much should put it in comment form versus voting anonymously in a poll so we can gain insight into how they achieved such wealth.

 

[Gaucho]

By annual income I don't mean your hourly rate times 2000. I mean your annual (40 hour) salary, or how much you earned in 2011.

I'm curious how members will compare to the 2011 census numbers.

Your link is the distribution of annual household income, you are asking what 1 persons income is. I don't know how a couple could get by on any less than 85k without sacrificing a lot in life, let alone when they have kids!

Bigneil, 8% of members make more than the average HOUSEHOLD income, not the average persons income.

 

[ElChoclo]

Zarky, what rent did you pay on that office before the couch? Did it have suitable facilities, and if not, how did you deal with that?

 

[Bible_Belt]

The median income in rural Illinois where I live is about $20,000 and more than half of the people live below the federal poverty line of about $12,000.

 

[Upside]

Say what? I do consumer market research and I bust my ass for my meager wage. I wish I had your gig. What bank?

 

[Atom Smasher]

It occurs to me that those who legitimately make over 200k per year will not be inclined to even answer the pole in the first place.

 

[Gaucho]

The median income in rural Illinois where I live is about $20,000 and more than half of the people live below the federal poverty line of about $12,000.

Median is the half way point. Is 20k the average income amongst those who actually work?

 

[Gaucho]

It occurs to me that those who legitimately make over 200k per year will not be inclined to even answer the pole in the first place.

Why not?

 

[synergy1]

Median is the half way point. Is 20k the average income amongst those who actually work?

right. The mean is more of an indication of where in the PDF the middle lies whereas the median is the middle numerical value. I goofed on this - the median is the middle number in a set of numbers, so if you have 10 people who earn 15,000, one person who earns 20,000 and one who earns 100,000, the median would be 15,000 dollars, and the average would be something like 23000.

Income isn't a "normal" distribution, its more of a poisson wherein the majority is below the average, whereas a normal has equal weighting about the mean. It makes sense in regular language too; there are far more poor people than there are rich people.

Compared to the rest of the world, we are probably in the top 5% or more even at regular salaries. If you are lucky enough to earn 100k, than you are probably in the top 1% worldwide.

Me and co workers were having this discussion yesterday actually. Our job ( if you get qualification) affords you a nice life. All of the Lead test engineers are self made millionaires only from working this job. However, one becomes accustomed to that lifestyle, and suddenly such income isn't excess - its required. Some of these kids who come into the "target grade" salary all purchase things they can barely afford and require the OT just to pay it off. One could earn 60k and be comfortable, or one could earn 120k + ( as many engineers here do), and still be in a bad situation. I earn closer to the former and actually have a better net worth than some people who earn more than 120k annually.

And than there is the story of the lead engineer who lost it all in a marriage. That my friends is another story.

edit: I clearly shouldn't have gotten an A in statistics...

 

[Gaucho]

My comment was in relation to Bible Belts point:

"The median income in rural Illinois where I live is about $20,000 and more than half of the people live below the federal poverty line of about $12,000."

If the median (as you defined above) is 20k, then more than half the people can't live below 12k, based purely on the median being bang smack in the middle of the statistical count.

I know Bible knows this, which is why I was asking if those with incomes are on 20k , which would make sense that the median could be 12k. I.e. those not part of the labour force/out of work bringing down the median.

Completely agree on the comparison in lifestyle. I would much rather earn 60k and have a good lifestyle, than earn 120k and do OT. That said, I couldn't get by on 60k unless my partner was also at least working part-time and earning 25-30k. I don't live expensive, but just to do the odd holiday and to be able to eat out every now and then requires at least 85k plus where I live (Sydney). That also said, I'm lucky enough to earn far in excess of that as a household and unfortunately as a business owner, I contradict my first point, in that I have to do OT if you call working for yourself OT (and I do, whereas most don't, but to me, work is work these days. If it takes away from me doing exercise, relaxing or spending time with family/friends, then it is work).

 

[Gaucho]

And than there is the story of the lead engineer who lost it all in a marriage. That my friends is another story.

Every dog has it's day. Sometimes your up, sometimes your down. Never get carried away and arrogant because your up, because you will soon be down. My partner always used to wish we had more income, because we were living dirt poor years ago and her little sibling was living well with her partner. I told her not to worry, the entire world and Universe works in cycles and that our time would come. Fortunately now, it's our turn for an up for a while.

 

[SgtSplacker]

In Miami you can live very comfortably on $60K. It's practically cheaper to eat out here then cook at home provided you are making similar meals at home. I can go to the market and buy a full rack for $18, or go out and maybe even pay a little less for a prepared meal with sides and stuff. Lots of people here go out and take advantage of free stuff. We have art walks that serve free wine and appetizers, some places have good happy hour specials. You can totally stay busy on the cheap down here. Lots of promotional events that serve free alcohol, you just have to be on the right mailing lists and such...

And then there's plenty of spots with $15 drinks, $20 at the door and a $15 appetizer with pretzels in it...

 

[OzyBoy]

About $70k-$75k. I think this is more than enough for me as i still save about half.

 

[Atom Smasher]

Why not?

You've got to be there to know.

For a guy who has learned to make some coin, there is nothing to talk about.

 

[AAAgent]

I think AtomSmasher means that most self made successful men are humble. They don't go around telling people about all their accomplishments.

 

[Atom Smasher]

:yes:

 

[Bible_Belt]

Sorry for the confusing stats. I was talking about my small town being more than half in poverty. The median income stats are compiled by the Feds, and they go on a county-by-county basis. There is a richer town within the same county that raises the median income.

 

[Warrior74]

I'm on pace to make like $15,000 this year, busting my tail for what is essentially minimum wage. Sucks having a liberal arts degree these days.

I went from a job that pays 50k a year to making about what you make working for myself. Talk about lifestyle shock. I live in a ****ty apartment with my first roommate since the college dorm. I struggle to keep up with past obligations including child support. Good times bro, good times. I figured I could get a low paying job, but screw it, I can make that working for myself until something good comes along.

Start you a couple of side hustles.

 

[Gaucho]

I think AtomSmasher means that most self made successful men are humble. They don't go around telling people about all their accomplishments.

How does answering a poll make somebody arrogant (or not humble?).

Your obviously not from the part of the world I am, in the financial world, people who make good money go about telling everyone else about it! And yes, most of these people are arrogant and would answer the poll and most would see 200k as chicken feed.

Then there are those self made (their own business), who are not arrogant but would still answer a poll, which does not make them arrogant based on a simple response.