How much money does an average family need to make yearly to have a comfortable lifestyle.?

Question

How much would a husband and wife with 2 children and a cat need to make yearly to have a nice lifestyle. Just a nice size home in a good neighborhood, new vehicles, yearly vacation and not having to wory about money all the time.

We aren't looking for an extravagant lifestyle. Just a 9-5 type lifestyle where we can comfortably raise our family and have money for retirement.

Neither of us want high stress jobs that take away from family life. Family, NOT money, is most important to us. My husband works at a bank and is thinking of going back to school. I am majoring in psychology . We are in our early 20's, no children yet.

How much would we need to make yearly (household income) to achieve this?

We live in the midwest

family is important meaning we want our children to be able to have cultural experiences, go to good schools, live in a nice neighbrrhood where they'll be safe, but still be home with them when they get home from school and on weekends.

Answer 1

Really it just depends where you live because the biggest factor is always the cost of housing whether renting or buying. In the Washington DC area, to pull off what you are looking for you would need to make at least $100,000 if not a few bucks more. But you could do the same down in Florida on literally half of that, mostly just because housing is cut in half, other prices generally stay the same or aren't so big of a deal anyway. Those new cars are killers though and I would always suggest to a young person or couple not to get all caught up in cars, go cheap on them, buying used or inexpensive new, because they suck up a lot of income and real fast and they depreciate in value and are a continual outlay if you always have to have a new one. Young people generally need to hold back a little because life is expensive in ways you may not even realize, and esp. if you are thinking of buying a house right away. You get hit with costs you never anticipate that can really hurt. Don't try to have everything your parents have NOW, they didn't have it when they were 20 either unless they were just very fortunate. Learn in your twenties, earn in your thirties. It's a slow process gaining what you describe above, unless other factors make it unusually easy. for you.

Answer 2

an average family with a mortage?youll be lucky to make enough to live comfartably.of course it depends on the economy of the country at the time.i think your expectations maybe a tad to high and when you say your family will be the most important,do you mean that one of you will give up work?if not your family doesn't mean much to you at all.here in australia the average family with a mortgage would need $1000 a week to live comfartably and i think your idea of that is rather high.

Answer 3

ALL depends on where you live. If you live in the mid-west, $100,000 would take care of all you want. My son lives in Denver - $100,000 could make you comfortable there, too. Costs more on the beach or where the weather is perfect all the time. If you don't mind change of seasons, you have more choices.

Answer 4

i was thinking the same thing just on another hand. 28, four children no help. one shitty job and i do mean that. live n a be-low income neighborhood. and i stress daily, want 2 know how much dose one have to make a year to make it.

Answer 5

$200,000 yr combined would do nicely in the Midwest.

Answer 6

It depends on where you will be living.
Along the coasts easily $150000.00 /yr...and growing!

Answer 7

theres never enough money to have the life you want. . . .

Answer 8

I think $50,000-$70,000 is a good range....

Answer 9

Ky Your big news here...
:)! http://www.osoq.com/funstuff/extra/extra02.asp?strName=Ky