Yea.. back in the 90’s the bare naked ladies song “if I had a million dollars” was like the dream of a lottery winner and how lavishly you could live

Now people are worth double, triple, quadruple that and we’re talking about the price of adding an extra patty to your fucking McDouble here lol

I mean there are people still living today who remember when a nickel could buy you a movie ticket. I can't imagine what goes through their heads these days but each day brings me closer and closer to empathizing with the Old Man Yelling at Cloud. Thing is though, their salaries tracked closer to inflation back when it was super high in the 70s and 80s

Anybody old enough care to enlighten me how that went? Did everyone just get an automatic pay bump at their current job or did you have to quit/kill/steal/cheat to get it like you do these days?

And did you have to put up with these corporate media puff pieces telling you to temper your pay expectations?
https://www.ctvnews.ca/business/here...2024-1.6629783

The tech sector has been rough the last year before this doom and gloom talk in the rest of the economy and salary expectations had to be tempered. That said, it seems to be turning. There's increasing headcounts at Amazon, MS, and Apple in the next financial year that I concretely know of. Many of the tech companies gutted their recruiting department but are starting to hire recruiters again.

As one falls another rise from the ashes.

The price of Corollas are too damn high! They used to be like $20k now you can't even buy one for $40 :troll:

When I was in high school i thought I’d be “making it” if I pulled in 75k. Which was basically my parents lousy wages combined.

Now a 100k barely qualifies as middle class. I’m not even sure how these kids are gonna do it. They better win the lottery or something cuz their gender transition parities and inclusivity gatherings are getting more and more expensive.

When I first started my current job back in 09 I was making somewhere around $26/hr and it topped out in the early $30's, a homie I was working with we'd joke and say man if we can get to $50 we'd be set. Fast forward 14 years, 2 kids, a mortgage, and long past $50 I can say I was a fool. $100/hr is probably more in line to be honest.

I thought, even only 10 years ago, 100k would be all I need to buy a nice car, buy a house in east van. I'm at 160k right now and I'm broke.

I know when you're a kid you don't really have any concept of how much the real world costs but I still remember back in high school thinking if I got an Eng degree I could make $100k/yr and be able to pay for me, my dad and my brother to all go do the Targa Newfoundland. Ah, youth.

Damn dude, 160k seems really good for Vancouver. I hope by broke all you really mean is you're lean with your cashflow because all your surplus is going to funding a real estate empire :p.

Otherwise... if this is about kid expenses you're making me anxious about what our little guy's going to cost us as he grows up lol.

Lol in CAPP class they had us write out a weekly budget and all I had for expenses was like, a tent and loaves of white bread. I'm like what's the big deal? I could get by on 10k a year.

I got a big red "SEE ME" :(.

Do ya have kids + house? What makes ya feel broke?


I'm at the stage where my mind tells me if I can get up to $160K asap or maybe $10K net a month, I'd feel less strapped. But I think I spend in the upper 5% on lifestyle creep for people in mid 20s. No roommates, summer and winter fun car, 3-4+ hobbies, eat out whenever but choose not to, 30-40% into investments, 1-4+ vacays, can afford to date, can go to weekly bday parties and contribute to gift.

Mentally, my mind thinks the extra cash would allow me to upgrade condo to 2BR, upgrade car, more hobbies, quicker retirement, have enough for kids in the future. fatter savings rate so for ease of mind etc.

At the same time, I don't need anything above ^ to make me anymore happier so I have 0 desire to earn more if it ruins work life balance atm.

I think $160K is a lot, the peers around me that clear over $140K complain about being broke / life's too expensive but forget that they live well.

- 2BR - Duplex they bought
- 2 Cars usually $40K-70+
- Kids have 2-4+ activities, new clothes, balanced meals, daycare
- Travel 2-4x a year and hotels at least $300+
- Only eat out or cook with expensive ingredients
- Concerts + entertainment are a time issue not a money issue
- Easily $500+ a month to improve health related stuff per person

I think the biggest mistake of higher earners is not being more mindful of how good they live.

I think the money really depends on age. Are you making 160k at 35 and bought a house at 1.6 million 2 years ago? Yeah, you're fucked. Are you making 160k at 32 and bought a house last year at 2 million? You're super fucked. Are you making 160k at 38 and bought a house 6 years ago at 900k? You're fucking ballin. That's the bullshit part of this and why our generation is so pissed. We are top 10% and living like bottom 50% because real estate in this country is a pyramid scheme so the Canadian government can suck their own dicks over "gdp" when there is nothing propping it up other than real estate.

Is there anything that can save us or is everyone under 29 fucked :pokerface:

Parents dying lol but not lol at all.
Generational wealth has taken over, and with how inflated assets are, who knows how long it will take for wages to matter again. A barista with parents who own a house is wealthier than a doctor whose parents rent, and that's pretty fucking fucked.

Not to mention the financial payoff that is enabled by having decent work life balance: eventually teaming up with someone financially for the rest of your life (i.e. getting married, and staying married). What's a few tens of k more when you can effectively double your income! :fullofwin:

The meta, if you have any inheritance, is to get that investing asap. The average immigrant family isn't educated to invest. So that $50 - 500K you're getting @ VFV/VUN and chill over 10 years, easily turns into $100 - $1.5M by the time you're 40.

If you got a house, I'm advocating to most people to start spending 80 - 95% of income and live it up lol. Your parents struggled so you don't have to so don't waste their efforts by saving it for your kids. You're inheriting minimum $2-5M + $8 - 13K/month income generator :awwyeah:

The biggest debate I had recently with some high earners not rich yet guys that thinking about wifing their gf or looking for a wife. We concluded we rather have a nice wife with a $50-80K+ job than one that nags more but makes $120K+ lol. At a certain point that extra $40-70K extra income doesn't contribute to a better financial life. Choosing a partner with similar values is wayyyy better than min/maxing income as a couple. Guy friends who earn $50-80K would risk it all for the higher earner girl though. Aka compromise on values, getting nagged, looks, personality etc. But I guess it makes sense, you need that partner to stay in Van.

/r/personalfinance advocates that you find someone who has similar income which I think filters out a large population of girls and isn't optimal either. Such a pfc answer!

Marry rich. Plenty of rich people around lol.

I find that the more you make, the more you spend. I’m not saying that happens to everybody, but it’s extremely difficult to keep your current lifestyle if you got a significant raise in income.

160k a few years ago when I was just breaking 100k would have been amazing. A few years ago I had a 320k mortgage on a 3bd townhouse which was down to under 200k after 5 years. We are 2.5 years into a 2 million dollar house and it's rough. Property taxes has gone from 6k, to 7k, to 8.5k last year. We are looking at probably 9.5k for 2024. Mortgage has gone up because we were on variable rates, from 4.5k to close to 8k now.

We bought the house on a household income of 200k. We are at 250k right now and arguably doing worse than before because of the increase in housing costs and food costs.

The kids don't actually cost that much yet, wait till they get into organized team sports, competitively..... Or joining band class and traveling all over the country or world.

LOL on the CAPP story. We did a life planning exercise in CAPP8 where we were given a career at random and to plan a life around it in regards to accommodations, vehicle, savings, etc, and the canned formula spat out what our life would look like at retirement. I drew, funny enough, software engineer at 50k/y income which had me living decent. I'm in tech now so that kind of came true.

^ Details above in terms of brutal monthly payments, but yes two kids, 4 yo and 10m old.

Part of it is lifestyle creep for sure.

I drove a used Mazdaspeed3 when my income grew from 30k/y to 72k/y
Transitioned with a NC Miata for a year and a bit and took delivery of a new M3 where my income was ~90k.

We eat well tbh compared to most people. Fresh meat, fruit, and veggies almost everyday when we cook at home. The kids get Avalon milk or whatever that's grassfed. Organic or free range eggs only. There's always a variety of snacks at home. We eat out at least once a week, more sometimes if the youngest kid behaves and let's out to eat lunch. I try to make a pot of chinese soup every week because wife likes it and it's good for you. I drink a decent amount actually because of the stress (2-4 beers a week + a whiskey/cognac pour once a week? More hard stuff if work or the kids are giving me a particular bad week)

We find ways to penny pinch. Riding my bike to pick up from daycare instead of driving - extends the tank of gas on the family car from 10 days to 2 weeks or more. The older kid's idea of a great time out is going grocery shopping with us at Costco. Membership at Science World for unlimited entrance (in a sense it's a splurge as well since it was $430 for 2 years of membership for the family). We eat at Ikea a lot because it's under $30 for a full meal and it's literally 5 mins from home.

We managed to squirrel together enough for a cruise last month to San Diego. Little trips here and there to Whistler or Victoria or the interior. Can't afford the grand trips to Asia or Europe. We are also unsure about flying 10+ hours with two kids.

160k will not net you 10k a month. Even after you've maxed out EI I am netting 8800/m. 160k will net you roughly 100k a year. With no mortgage it would be amazing but unfortunately neither of us are graced with balling parents. We are mindful of us eating well, and buying toys within reason, and able to splurge on not buying the cheapest shit to make do (I bought AD09 for summers on the M3). But it doesn't allow to spend without a care in the world.

Westopher and Gumby both got it, tons of truth in that.

I feel like as a guy, you'll never find a girl who would buy you a car or vacation. I would easily do the opposite.

Same with having a parent in law giving you their family business and shit like that, I feel like it happens more on the guy side rather than the girl. Aka they give it to the son not the daughter.

Jesus, thanks for the transparency. I too would start to feel broke / spooked at $8k/month housing payment + 8K pptax + kids @ $250K HHI. I think the anxiety there for me isn't so much that I can't afford it all, but more so if either one of us loses our jobs, our emergency fund would be depleted quickly. Vs if your total bills was closer to 40-50% of total take home.

Regardless, If I put myself in your shoes, house, nice family, able to eat out, fresh meat and veggies, AD09 on a sports car, I'd be pretty happy if I can get close to that @ $250K HHI. Housing will fuck probably 2x harder when that time comes lol.

Wow that's tough, and makes sense :/.

Stuff like this really makes us appreciate living in California:
-Property tax increases are capped at 2% annually.
-Mortgages rates are fixed for 30 years. (you can also get variable)

I feel like this will always be true.

On one hand that seems kinda frustrating, but on the other, I guess it's probably a good thing. What would we work towards if everything were attainable on a whim, and would it seem like the value has slowly dissipated from everything around us, so that we can't appreciate the little things anymore? Like keying in cheat codes on a video game and it becoming boring and meaningless lol.

On that note, my wife and I have talked about whether we could get away with pretending we're poor to the little one. We grew up in homes where we had what we needed, but often not what we wanted. Gave us a reason to aspire to more when we grew up. What if our kid's like "this is as good as it can possibly get" and feels he has nothing to look forward to?

Kind of follows from the earlier discussion about how open are we with finances. If some one asks I typically tell them. I'm not doing anything shady, I'm not trying to hide anything. I have friends on here they more or less have an idea of my money situation.

Yeah I was talking with a friend who bought a place at Bellevue. He did a 5 year mortgage and I asked why. He said I was right, I don't know if he ever changed it to 30 though, or if you can.

With California everything else is expensive. I love San Diego, but it turns out San Diego has the absolute highest cost of living in US. Heck California takes the cake at 7/10 top spots for highest cost of living.

It's true, it gives us goals.
- Make 60k/y in 2014 (goal met April 2014)
- Buy a place in 2015 (closed first townhouse Dec 21 2015)
- Buy a new car in 2017 (Euro delivery M3 Sept 2018)
- Buy a house (Bought May 2021)

The current goal is a 911 and a new family car to replace the X3

It’s amazing you guys set dates to your goals. To be honest I’ve never had a date associated to a goal. I just had this mental image of my fat ass self doing something or not doing something.

For example when I was a little shit I always wanted a corner office with a view. I didn’t know what my job was but I pictured myself sitting there and starring out into my little empire. Weird kinda shit like this.

But kudos to you guys who actually set dates and specific goals.

Yea I’m def not the type. I’m not even the type to budget really and my wife hates it lol

I figure anything we ever buy/decide to do, etc. we’ll pay it off pretty quickly so YOLO lol..

Until house is completely paid off I don’t see myself ever buying a fancy car for pleasure, I just don’t see value in it anymore. Next vehicle will probably be a Macan/Cayenne if we can stretch it, functional performance

I’d been spoiled with being frivolous in doing things like exotics racing in Vegas a couple times and also driving friends GT3, taycan, r8, etc where there isn’t a car I could afford that would get me excited and also not risk exploding at the same time so I’d much rather spend that money on travel or even somthing like wine really

Good on everyone for sticking with cars as their hobby/thrill though

I find the set dates help things, as long as the goals are reasonable. I had owning a home in van and being a head chef at 30, e30 m3 by 35 and now it's possible "forever home" by 40 which is in 2 years. Doesn't actually need to be the forever place, but more of something that is enough to last us forever space wise if we need it. Goals help keep things in line, and if they are reasonable they help keep that feeling of accomplishment some people need to stay motivated. If I can't check some things off my list I get very discouraged.