Six Figure Income

[Double"O"]

Per your poll 650k

My actual perception 700k+

Id love to make 100k lol
In my area 40k is decent money, I wanna say the median household in my area is 50k

 

[jeffh81]

THIS.

This is EXACTLY what I was looking for, and my point for the first conversation I had about this.

We [as human beings] limit our own potential based on our limited thinking. We choose to give up on things, not do things, etc etc etc...because we don't think it's possible.

Full disclosure: I gave up a lot to go back to school and took a heavy paycut to go also. I just wanted a better place in life than the low economy life i grew up in. Granted it taught me how to survive anything and I will always appreciate that, but between me and my wife once i am done in a year or 2 will be at about 150k and that is fine with us.

We grew up poor and dont want the world, we just want to make good money with not a lot of hours of work because money will always be made, but time can never be replaced.

 

[Double"O"]

Full disclosure: I gave up a lot to go back to school and took a heavy paycut to go also. I just wanted a better place in life than the low economy life i grew up in. Granted it taught me how to survive anything and I will always appreciate that, but between me and my wife once i am done in a year or 2 will be at about 150k and that is fine with us.

We grew up poor and dont want the world, we just want to make good money with not a lot of hours of work because money will always be made, but time can never be replaced.

Same thing happened in my house

I still dont make what I did as a contractor for the gov...but i get to enjoy a few things these days I couldn't when playing the gov game...my wife puts 50% on my check and gets to work in her office at home...and I'm fine with it. I put way too much money into her education fornhe notnto make more than me lol

 

[jeffh81]

Same thing happened in my house

I still dont make what I did as a contractor for the gov...but i get to enjoy a few things these days I couldn't when playing the gov game...my wife puts 50% on my check and gets to work in her office at home...and I'm fine with it. I put way too much money into her education fornhe notnto make more than me lol

We got my wife her bachelor in nursing and she wants her nurse practitioner to work part time and make bank. Im going into physical therapy to be able to work wherever and whenever I want. I may not have the latest car or truck or the biggest house. But we will have time together and that is what is important to us

 

[13COBRA]

Easy guys...we're getting to the point of the first group I posed the question to.

 

[My94GT]

I’m not sure why it’s a hard concept, the six figure range is 100,000 - 999,999 so by that measure break it into three sections

low - 100-300

mid - 400-600

high- 700-900

 

[ZYBORG]

I’m not sure why it’s a hard concept, the six figure range is 100,000 - 999,999 so by that measure break it into three sections

low - 100-300

mid - 400-600

high- 700-900

I like the way you think... except the way I look at it is as follows:

Range is 100,000 to 999,999.

Break it into 2 sections.

Low: 100,000 to 549,999.

High: 550,000 to 999,999.

No mid. Neutral is for pussies.

 

[My94GT]

I like the way you think... except the way I look at it is as follows:

Range is 100,000 to 999,999.

Break it into 2 sections.

Low: 100,000 to 449,999.

High: 450,000 to 999,999.

No mid. Neutral is for pussies.

I’m fine with that breakdown as well. It has to be balanced and void of emotion. Many in this thread are too busy comparing what they emotionally fathom as a lot of money. That’s a whole different story because many things impact the value of a salary.

the specific question posed though was just, what’s a high segment of six figure income.

 

[ZYBORG]

I’m fine with that breakdown as well. It has to be balanced and void of emotion. Many in this thread are too busy comparing what they emotionally fathom as a lot of money. That’s a whole different story because many things impact the value of a salary.

the specific question posed though was just, what’s a high segment of six figure income.

I absolutely agree with you; although, the way the OP asked the question, lead to some of these sentiment based responses.

If I were to ask you what you thought a high six figure income was, what would you say?

 

[tones_RS3]

If I told you I was going to hire you and pay you a high six figure income, would you assume it's $150-199k or $600k+?

I would "assume" $150k - $199K. To me, that's a high six figure income.
Anything over $200K is a very high six figure income. To me anyways.

 

[Sinister04L]

I’m not sure why it’s a hard concept, the six figure range is 100,000 - 999,999 so by that measure break it into three sections

low - 100-300

mid - 400-600

high- 700-900

Sounds familiar.

 

[Double"O"]

I like the way you think... except the way I look at it is as follows:

Range is 100,000 to 999,999.

Break it into 2 sections.

Low: 100,000 to 549,999.

High: 550,000 to 999,999.

No mid. Neutral is for pussies.

I'd just add the mid to it

100k-300k low
300k-600k mid
700k + high

 

[bdcardinal]

THIS.

This is EXACTLY what I was looking for, and my point for the first conversation I had about this.

We [as human beings] limit our own potential based on our limited thinking. We choose to give up on things, not do things, etc etc etc...because we don't think it's possible.

To me "high 6 figures" would be 650-700+. My grandpa was a VP of a small aircraft manufacturing company, Aero Spacelines, but this was before executives made such high salaries.

 

[jeffh81]

My perception of high 6 figures

 

[newbie1276]

But nowhere are assets mentioned.

Assets matter.

Let’s say you have 300 acres of farmland outside of town which is taxed at a rate that is not even worth mentioning in my county. And you rent that land to a farmer for an amount that is also somewhat negligible, but builders are expanding the footprint of your town and buying that land nearby for $60,000 an acre.

You likely won’t sell it all for $60,000 an acre, or all at the same time, but you effectively have an $18MM asset that cost you nothing to own. You can’t really borrow against it, but it is still a valuable asset nevertheless.

Let’s call it a ship still out in the ocean, as it were, but will come into port one day, if you so decide, or you swap it in a 1031 exchange for a like-kind piece of real estate that either now earns income, or you just like better.

So being rated for only income just doesn’t mean much in my personal view.

My family has 45 acres of prime buildalble land. It is the last undeveloped lot in the area. Purchased in early seventies for peanuts. somewhere in the 30-40k range. Weekly developers send letters wanting to purchase it partial or whole in the range $3-5mil. It is crazy the amount dirt goes for nowadays.

 

[Smooth]

I like turtles.

 

[ON D BIT]

Did someone advertise a high 6 figure income and then that income was less than $200k? That’s false advertising in my book.

Banking or Hedge Funds
Compensation for top bank executives - CNNMoney.com
Four hedge fund managers top $1 billion in pay as the industry rebounds

 

[OETKB]

My family has 45 acres of prime buildalble land. It is the last undeveloped lot in the area. Purchased in early seventies for peanuts. somewhere in the 30-40k range. Weekly developers send letters wanting to purchase it partial or whole in the range $3-5mil. It is crazy the amount dirt goes for nowadays.

Indeed.

And it’s after 9PM eastern, so I’m going off topic. Again.

You’d really want to think about a 1031 like-kind exchange, because you will get slammed with the hammer of Thor on capital gains taxes both state and federal if you sold the land without reinvesting via an exchange, unless the current owner has recently passed away and the “basis” has been stepped up to current market value.

 

[Machdup1]

How much do you have to earn to have unlimited hookers and blow?

And I’m talking about T$ level sluts and rock star level blow.

 

[5.2Leader]

I'm not sure why this is so hard to comprehend.

Do you think a HIGH SIX FIGURE INCOME is $150-199k or $650k+?

$150,000-$199,999


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