Whats a Good Wage?

fantasymaker · #1 12/05/10, 05:37 PM

What do you see as a good wage , not riches and not scrapeing by but enough to live reasonably and humanly?

chewie · #2 12/05/10, 05:44 PM

well, that to me, is like asking how long a piece of string is.

a good wage for what? i'd work for $XX/hour doing one job, but another i wouldn't even begin to consider doing it for that!!

for me, the job or price would determine alot. i know, not really what you were asking.

i feel i need around $1500 per month to live the way i want to, within reason. will be less when all my stuff is paid off. this amt gives me critter feed, mortgage, taxes, etc., and teensy bit left for something extra. but, living the way i do IS my extra--i love the lifestyle so getting 'extras' isnt' as important as it seems to be for many of my neighbors.

big rockpile · #3 12/05/10, 06:02 PM

Well if you go by what I was making when I retired with Inflation I would say $30 an hour starting out with Full Retirement after 20 years and Medical for everything including Eye Glasses and Dental.

big rockpile

jwal10 · #4 12/05/10, 06:12 PM

That's where I am at, don't need it now but I won't turn it down after 17 years....James

Spotted Owl · #5 12/05/10, 06:21 PM

We get 28 and some times it's a scrape to get by for the month. Lots go into that though, mortage restructuring when contract was sold to a new holder, inflation, big med bills for two in our family and some other things. We were doing very good when we moved here well under our means and banking monthly for retirement. Now we just get by mostly it seems. We also live in a fairly high cost of living and tax state.

Owl

MO_cows · #6 12/05/10, 07:25 PM

It depends on how you live, or want to live. I have seen people live pretty well on lower wages, and other people who make a good income but don't manage well or save anything and when the car breaks down or the house needs work, they are in trouble. Whatever you make, it is better to live below your means and have savings that can lead to investments, than live above your means and have debt.

PhilJohnson · #7 12/05/10, 07:33 PM

Depends on if the job includes decent health insurance (no HSAs or high deductible plans) or not. For where I'd live a job with super health insurance that was paid for 100 percent by the employer that paid 15 bucks an hour I would consider a good wage. Crappy health insurance or none I would say it would have to be closer to 20 bucks an hour. I am single with no kids so that makes a difference in what I would think is a good wage. Also cost of living around here is pretty cheap too.

rancher1913 · #8 12/05/10, 07:37 PM

human nature is to spend what you make. the more you make the more you spend and conversly the less you have the less you spend. that said a person probably needs 15 to 20 bucks an hour to survive and more to actually "live".

jwal10 · #9 12/05/10, 09:03 PM

When I got married in 1983 I farmed, I took home 600.00 a month and the farm furnished our meat. Had a huge garden. We saved for a rainy day. In 1992 I got real sick and had to sell out. No income for 2 years. That was a rainy day. Wife went to work 2 yrs later when the youngest went to 4 yr olds. I got a part time job for 2 yrs. until I got this one. I have always had full benefits here, started at $12.50 an hour. The city has been good to me. Good honest work and good pay. No raises for 2 years, some layoffs but we run a tight ship. I am very grateful for what I have....James

lonelyfarmgirl · #10 12/05/10, 09:40 PM

my daughter was born in 1995, and I got married in 2008. within those years or single motherhood, my take home pay averaged around 1200 a month. sometimes a little more, sometimes a lot less. most of the time we barely scraped by, and only because I was creative and very frugal.

Old Vet · #11 12/05/10, 11:32 PM

It depends on where you are at and how you live. In New York it will take more than those in Alabama or Arkansas. In some other places it will cost more.

Beeman · #12 12/06/10, 12:15 AM

A good wage to do what?

Jackie · #13 12/06/10, 01:22 AM

I make just a bit over min wage, but we are doing ok. I live in a mobile home that is paid off ( I didn't pay it off), I have 160 acres 3 miles away that i keep my livestock on (that I don't make a dime off of), my car is paid off, I have enough money to have 5 useless horses lol! I pay daycare, etc. Doing ok. Someday want more...I don't intend to live in a trailer forever. But things will look up once I am not paying $600 for daycare anymore.

I got lucky a few years ago. My grandmas friend passed away and willed her a bunch of money. She gave me enough for a down payment on a house. I later sold the house for nearly double what I paid and bought 160 acres with my fiance. So that's paid for.

I am quite comfortable with my measly wage. Bills get paid, money left over for a bit of saving and a bit of playing. Some months are bad, most are good.

BUT I live in canada where the hospital is 'free' and I get family allowance every month for the kids I have. I do buy insurance to cover things that are not 'free' like eye, dental, and ambulance. So thats probably why I can get by on just a bit over min wage with two kids (finace works too....but he covers his own living expenses and trying to get down his debt)

paintboy · #14 12/06/10, 06:52 AM

Looking for a good wage means you are just looking to get by. Strive for more. Start a business. A wage has a limit on what you can earn. A business has no limit. It's not about being greedy, it's about living joyous and free.

Micheal · #15 12/06/10, 08:39 AM

What's a good wage?
Humm, something my father told me long ago was that:
You need to make enough to provide a roof over your head, food on the table, and keep all bills and obligations current; anything over that was "gravy".......
Soo, I guess that a "good wage" would be something that let you make some "gravy".

geo in mi · #16 12/06/10, 08:56 AM

From our government: http://www.ssa.gov/oact/cola/central.html

Median wage means that half of the US worrkers make more than the median, half make less. $26,261 for a 2020 hrs/yr( forty hrs/week with two weeks vacation) equals $13.00/hr.

geo

just_sawing · #17 12/06/10, 09:17 AM

It isn't the wage that counts it is what you save. If you make minimum wage and put $100.00 in a Growth Stock Mutual you will have a comfortable retirement (over 1 million) to live off of.
Do understand that even a quart of Green Beans on the shelf is savings but to many don't watch and live with their head in the sand. I have relatives that are struggling and would like help (More than I am doing) I have had to slow down because there isn't a fix only a bandaid. The problem is that they are happy to use money I make on the Mill but not help on the mill that is too much.
YOU ARE responsible to find the way to kill it and bring it home. That does not mean oh I made a little extra I will get a Xbox because the kids will love me more.

FunnyRiverFarm · #18 12/06/10, 10:47 AM

Quote:

Originally Posted by Jackie

I make just a bit over min wage, but we are doing ok. I live in a mobile home that is paid off ( I didn't pay it off), I have 160 acres 3 miles away that i keep my livestock on (that I don't make a dime off of), my car is paid off, I have enough money to have 5 useless horses lol! I pay daycare, etc. Doing ok. Someday want more...I don't intend to live in a trailer forever. But things will look up once I am not paying $600 for daycare anymore.

I got lucky a few years ago. My grandmas friend passed away and willed her a bunch of money. She gave me enough for a down payment on a house. I later sold the house for nearly double what I paid and bought 160 acres with my fiance. So that's paid for.

I am quite comfortable with my measly wage. Bills get paid, money left over for a bit of saving and a bit of playing. Some months are bad, most are good.

BUT I live in canada where the hospital is 'free' and I get family allowance every month for the kids I have. I do buy insurance to cover things that are not 'free' like eye, dental, and ambulance. So thats probably why I can get by on just a bit over min wage with two kids (finace works too....but he covers his own living expenses and trying to get down his debt)

How much is minimum wage where you live? Here, it is $7.40/hour. If someone worked 35-40 hours/week they'd probably bring home around $200 after taxes. Day care costs average about $200/week so it would make more sense for women here with children to stay home and collect welfare rather than work for those wages.

mnn2501 · #19 12/06/10, 11:23 AM

Depends on where you live, Cost of living, taxes, etc vary greatly around the U.S. and Canada.
Depends on what you're doing also. I did a mid-life career change and took a drastic cut in pay just to get some experience in my new field. I am now making more than I ever did in my old field, but I paid my dues at the extreme low end of the pay scale for a while. Luckily we could afford it at the time.

wildwanderer · #20 12/06/10, 11:27 AM

Actually it would make sense to stay home and keep someone elses kids instead of collecting welfare. Just my thought.
Figure out what you need, then figure out what you want to save and then you figure out a good wage.