Is $59,000 a year enough money to live a good life?

Question

Before taxes, is that amount of money enough to own a decent home, drive a decent car, and raise two children in Torrance, redondo beach, or hermosa beach, CA....and still hae a little money left over each month for retirement or what not?

For the second answerer, i want a lot of money so i DONT have to live on the streets you stupid piece of ****. U will always be a bum even if u do get an eduaction dumbass, if i was u i would just give up on life and go live on the streets some more until you croak and die...afterall, you will never constribute anything to society, nor will you get married, or probly even have a relationship....you are a worthless piece of trash who deserves to rott in hell.......even though god doesnt exist and therefore youre not going to heaven or hell.....fag

Answer 1

A simple breakdown :
Housing Loan
Housing Maintenance & Renovation Fund
Home Fixtures Fund - TV, DVD, Aircon, etc.
Car Loan
Car Maintenance Fund
Daily Expenditures - Foods
Credit Cards or Personal Enjoyment Mthly Expenditures
Transportation - Public or Gas
Utilities Charges - Water, Gas & Electricity
Insurances - Health, Life, Kids, Fire & Car, Optional - Investment.
Tele-Media-communication Charges - Internet, Cells, Telephone, TV, Newspaper, etc.
Kid Education Fund x 2
Kid Daily Expenditure x 2
20% Saving of $59,000.00
Any other by-law contribution fund.

To live a good life, I don't think so and my answer goes with a no.
To live with both ends meet, yes but not a comfort zone.

Answer 2

Oh, I definitely think so, as long as you don't have a lot of outstanding credit card debt or a lot of medical bills or anything like that. I feel like I live pretty comfortably on $32,000 a year- I can only imagine how much fun I'd have with $59,000 a year!!!

Answer 3

In Cali, I think that's about average. It all depends on how you spend it. Most people waste money on a nice new car, when a nice used car is way cheaper and less of an investment in the long run. I think you'd be fine on that amount. Talk to a financial advisor to see what they think about setting up retirement, as well as a living budget.

Answer 4

Quick Answer: Combined income of $100,000k a year. $80,000k a year if you don't live in one of the more expensive areas of the country. Long answer: It comes down to the specifics and where you are going to live. For example, for a nice 3 bedroom home in northern NJ, that will run you $350,000 to $500,000 plus $10,000 a year in taxes. This same house near somewhere like Salt Lake City would cost $200,000 and the taxes would be under $1000 a year. Also, do you want to pay for your children's college, because that's a massive expense? Do you want to go on a vacation once a year within driving distance, or do you want to go on a cruise every year? My parents never bought designer clothes or went out to dinner, and most of our vacations consisted of a week at the beach a couple of hours away, but they also paid off their house, paid for college for my brother and I, and provided us with plenty of holidays gifts, clothes and other necessities to keep us happy!

Answer 5

Well I think it would depend on your style of living?

Heres my scenario

-I would say that the average house in torrance, redondo, or hermosa beach is between 500k and 600k and the average payment is about $2500 to $3500( based on about a 20% down payment.

- For utilites and maintenance would be about $500 per month ( including lights, gas, phone, cable, internet etc.

-I would assume that you would have a car payment if you want a decent car at about 300 per month and insurance at 150 per month.

- With two children I would say that it would estimate exspenses @ $800.00 per month



SO TO SUM EVERYTHING UP WITH 59K PER YEAR YOUR LOOKING AT 4916.66 PER MONTH AND BASED ON MY SCENARIO ABOVE THE BILLS WOULD ADD UP TO 4750 WICH WOULD LEAVE YOU WITH ABOUT166 PER MONTH EXTRA. I THINK THAT YOU MAY BE ABLE TO MAKE IT IN MAYBE ANOTHER AREA WHERE YOU WOULS HAVE A LOWER MORTGAGE PAYMENT BUT I DON’T THINK THAT YOU WILL LIVE COMFORTABLY IN THAT AREA.


A KEY THING TO REMEMBER IS THAT YOU SHOULD PROBABLY MAKE 2.5 TO 3 TIMEA WHATEVER YOUR MORTGAGE OR RENT IS TO INSURE YOU’LL LIVE COMFORTABLY. SO IN YOUR CASE AT THE LEAST YOU SHOULD BE MAKING $7500 A MONTH WITH A MORTGAGE OF $3000 YOU.


HOPE THIS HELPS U OUT

Answer 6

Average American makes 30k. 59k is a good amount, not enough for california. It'd be good anywhere but cali, florida and New york.

Try kentucky or texas, no state tax.

I say no.

Answer 7

net? sure it is! that is good money! i am 46 and make 0.00 and am going to college to upgrade my skills. it makes me sick when people cannot live on that kind of money and complain!! know why?? i lived on the streets for 13 years!!! and made 25 dollars a day!!! and was content! you foolish, greedy, money hungry people will have to answer to god one day! can you take the 59,000 dollars with you then??? answer the question!! you should count your blessings instead of SNIVELING AND WHINING LIKE YOU DO!!! people like you make me sick with your ingratitude in life!! try living on streets for one day! see how you like it!!

Answer 8

Depends on how you spend it.