So how much money is enough

zl1whqvjs75cdy · 06-10-2018 11:15am #1

Was having a browse through one of the recent dole bashing threads on here that set me to thinking. How much money a year would be enough for you, or is there ever enough?

For me personally if I myself and the missus got to 70 k a year each I think that'd be more than comfortable with current mortgage etc. Kids are planned but not just yet so not really sure of the financial impact there. We are a ways off 70k each yet but getting there slowly I think.

So what say ye, how much dosh to make you happy.

frag420 · 06-10-2018 11:16am

bout tree fiddy...

Avatar MIA · 06-10-2018 11:18am

donkeyoaty0099 wrote: »

Kids are planned but not just yet so not really sure of the financial impact there.

A lot!

Re how much is enough ? I refer you to Charles Dickens quote, a man who had experiences of both.

zl1whqvjs75cdy · 06-10-2018 11:19am

Avatar MIA wrote: »

A lot!

Re how much is enough ? I refer you to Charles Dickens quote, a man who had experiences of both.

They can't just live on love no? Needy bastards.

dxhound2005 · 06-10-2018 11:19am

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

Cina · 06-10-2018 11:20am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

Well that's stupid. People should get more for popping out kids and getting mortgages they can't afford? Behave.

raze_them_all_ · 06-10-2018 11:21am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

Personal choices don't matter. Why should someone be punished cos you have 4 kids

dxhound2005 · 06-10-2018 11:22am

I'm just outlining what is a living wage, in other words enough money.

iamwhoiam · 06-10-2018 11:24am

As long as we have one cent more than we need its enough . The big question is what exactly do we need ?

super_furry · 06-10-2018 11:27am

Depends where you live. €140k between a couple in places like Limerick, Sligo or Meath and you could live like kings. That kind of dough in Dublin and you're looking at a semi-d in the suburbs.

Problem is you (mostly) have to working in Dublin to pull in that kind of cash.

OldMrBrennan83 · 06-10-2018 11:28am

As long as your next door neighbour has more windows in his house then nothing will ever be enough.

Guy:Incognito · 06-10-2018 11:29am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

I fully endorse this. Now I'm going to get myself a €2m mansion that my employer can pay for. Excellent.

DontThankMe · 06-10-2018 11:30am

€198 a week is all a person needs to live the high life.

engiweirdo · 06-10-2018 11:31am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

Insane. Maybe dont have 4 kids unless you earn >€80k pa if thats how much it costs to raise them would be more sensible?

zl1whqvjs75cdy · 06-10-2018 11:32am

super_furry wrote: »

Depends where you live. €140k between a couple in places like Limerick, Sligo or Meath and you could live like kings. That kind of dough in Dublin and you're looking at a semi-d in the suburbs.

Problem is you (mostly) have to working in Dublin to pull in that kind of cash.

I do find it a bit grim that you need to be in the top 5 % of earners to live an hour commute (on a good day) from the city centre.

meeeeh · 06-10-2018 11:33am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

So you employ just single people living 5 minutes away from the work and pay them peanuts for what they do. Brilliant, it would slash our wage bill quite a bit.

dxhound2005 · 06-10-2018 11:36am

meeeeh wrote: »

So you employ just single people living 5 minutes away from the work and pay them peanuts for what they do. Brilliant, it would slash our wage bill quite a bit.

What do people mean by Living Wage (enough money)?

meeeeh · 06-10-2018 11:39am

dxhound2005 wrote: »

What do people mean by Living Wage (enough money)?

https://www.livingwage.ie

Cian_ok · 06-10-2018 11:39am

dxhound2005 wrote: »

Employers should be forced to pay each worker according to their needs. 20K a year for a single person 5 minutes from the work place, living rent free with their parents.

80K for a person doing the same job commuting 2 hours a day, paying 1000 a month mortgage, and supporting a stay at home spouse and 4 children.

It used to be like this pre 1970s. Especially companies that had a marriage bar.
If a man got married - he got a pay rise to support the wife. Similarly with kids.
If a woman got married, she got a 'redundancy' payment. And had to stop working.

But feminism killed this. Equal pay for equal work.

bloodless_coup · 06-10-2018 11:42am

If your on 60k, is it worth busting your balls to get to 80 or 90?

I feel like once you get to a certain number where you are comfortable, the only real difference to your life would be to get to the grossly rich level.

dxhound2005 · 06-10-2018 11:46am

meeeeh wrote: »

https://www.livingwage.ie

In principle, a living wage is intended to establish an hourly wage rate that should provide employees with sufficient income to achieve an agreed acceptable minimum standard of living. In that sense it is an income floor; representing a figure which allows employees afford the essentials of life. Earnings below the living wage suggest employees are forced to do without certain essentials so they can make ends-meet.

My reading of that would mean the employer paying more to the person commuting and paying a mortgage, and less to the person living rent free beside the work place.

robbiezero · 06-10-2018 11:47am

doylefe wrote: »

If your on 60k, is it worth busting your balls to get to 80 or 90?

I feel like once you get to a certain number where you are comfortable, the only real difference to your life would be to get to the grossly rich level.

Depends. you are only getting ~48% of the increase anyway, so if a significant increase in workload or responsibility, its probably not worth it.

zl1whqvjs75cdy · 06-10-2018 11:47am

doylefe wrote: »

If your on 60k, is it worth busting your balls to get to 80 or 90?

I feel like once you get to a certain number where you are comfortable, the only real difference to your life would be to get to the grossly rich level.

Suppose it depends what you want out of life. To some people pushing yourself to be as good professionally as you possibly can be is reward in itself. The increased salary that comes with it is a bonus sure, but for some it's more about the personal accomplishment.

OldMrBrennan83 · 06-10-2018 11:47am

dxhound2005 wrote: »

In principle, a living wage is intended to establish an hourly wage rate that should provide employees with sufficient income to achieve an agreed acceptable minimum standard of living. In that sense it is an income floor; representing a figure which allows employees afford the essentials of life. Earnings below the living wage suggest employees are forced to do without certain essentials so they can make ends-meet.

My reading of that would mean the employer paying more to the person commuting and paying a mortgage, and less to the person living rent free beside the work place.

People should be paid based on what they do within working hours and nothing else.

rovertom · 06-10-2018 11:51am

The op mentioned 70k each as a couple.
That amounts to 900 per week each as a couple after tax. Not huge money after paying all the tax.

zl1whqvjs75cdy · 06-10-2018 11:54am

rovertom wrote: »

The op mentioned 70k each as a couple.
That amounts to 900 per week each as a couple after tax. Not huge money after paying all the tax.

I would have thought it's a decent wedge all in. What would you consider huge money? Within reason. Obviously we'd all love to be on 500k a week but unfortunately we live in the real world.

Cina · 06-10-2018 11:57am

rovertom wrote: »

The op mentioned 70k each as a couple.
That amounts to 900 per week each as a couple after tax. Not huge money after paying all the tax.

Not sure where you're getting that from?

If they're both working and on 35k it's about 1200 a week.

If it's one bringing in all the money then yes it's around 900 a week. But that's assuming they're not married and getting extra tax credits.

L'prof · 06-10-2018 12:02pm

Extra tax credits for being married??? Do tell!

dxhound2005 · 06-10-2018 12:03pm

Patww79 wrote: »

People should be paid based on what they do within working hours and nothing else.

Which renders the concept of a Living Wage as a nonsense.

rovertom · 06-10-2018 12:04pm

Cina wrote: »

Not sure where you're getting that from?

If they're both working and on 35k it's about 1200 a week.

If it's one bringing in all the money then yes it's around 900 a week. But that's assuming they're not married and getting extra tax credits.

OP said 70k each not 35k each

Taylor365 · 06-10-2018 12:05pm

Difference between 30k and 60k?

1350 a month.

zl1whqvjs75cdy · 06-10-2018 12:13pm

rovertom wrote: »

OP said 70k each not 35k each

Op here. To be clear my target (that I completely picked out of the sky) is 70k each. So 140 k in total a year.

Cina · 06-10-2018 12:16pm

donkeyoaty0099 wrote: »

Op here. To be clear my target (that I completely picked out of the sky) is 70k each. So 140 k in total a year.

Apologies, so you did.

1,400 a week or 6,600 a month is plenty of money for a couple, though, so I don't get your argument.

zl1whqvjs75cdy · 06-10-2018 12:21pm

Cina wrote: »

Apologies, so you did.

1,400 a week or 6,600 a month is plenty of money for a couple, though, so I don't get your argument.

I'm not attempting to argue anything. Just asking what other people would consider enough.

dxhound2005 · 06-10-2018 12:21pm

donkeyoaty0099 wrote: »

Op here. To be clear my target (that I completely picked out of the sky) is 70k each. So 140 k in total a year.

If you were able to get that as an individual, you would be in the top 1%.

zl1whqvjs75cdy · 06-10-2018 12:41pm

dxhound2005 wrote: »

If you were able to get that as an individual, you would be in the top 1%.

Yup. But still not be able to afford a gaf less than an hour from work. Class

Your Face · 06-10-2018 12:42pm

Avatar MIA · 06-10-2018 1:16pm

donkeyoaty0099 wrote: »

Yup. But still not be able to afford a gaf less than an hour from work. Class

Stop working on the moon then.

daheff · 06-10-2018 1:18pm

donkeyoaty0099 wrote: »

Yup. But still not be able to afford a gaf less than an hour from work. Class

Change where you work?

It’s the whole demand & supply thing. Price goes up to the highest level where the market can support it. I guess you work in the city centre ....like a lotta people....who would all like to live in the homes near by. But there’s only so many, so those with more money offer more to live there. If everybody had more money the problem would still be the same.

engiweirdo · 06-10-2018 1:25pm

In current location and at current prices I think about €80k a year total family income would do it. Could afford a nice home comfortably, all home related expenses, nice holiday and couple of short breaks a year and a few bob towards the pension. For Dublin I'd have no idea, could the ordinary person actually get ahead there now with the way prices are going?

mloc123 · 06-10-2018 1:26pm

Nothing is ever enough... Because your lifestyle adapts to match what you earn.

My income is 4 times what it was 10 years ago, I don't necessarily feel better off but of course I am. If I had to go back to how I lived 10 years ago overnight it would be a huge shock. Because you slowly adapt to additional income over years it is less noticable how much better off you are.

zl1whqvjs75cdy · 06-10-2018 1:41pm

mloc123 wrote: »

Nothing is ever enough... Because your lifestyle adapts to match what you earn.

My income is 4 times what it was 10 years ago, I don't necessarily feel better off but of course I am. If I had to go back to how I lived 10 years ago overnight it would be a huge shock. Because you slowly adapt to additional income over years it is less noticable how much better off you are.

Yeh that's how I feel like things are going alright. I earn about 4 times more than I did 3 years ago (was on a ****ty educational stipend), and I actually pay less in my mortgage than I was paying in rent then and I still feel like it's not enough. Life's strange. Think I jsut need to learn to be happy as I am and not constantly strive for more money. As you say it'll never be enough.

mloc123 · 06-10-2018 1:50pm

donkeyoaty0099 wrote: »

Yeh that's how I feel like things are going alright. I earn about 4 times more than I did 3 years ago (was on a ****ty educational stipend), and I actually pay less in my mortgage than I was paying in rent then and I still feel like it's not enough. Life's strange. Think I jsut need to learn to be happy as I am and not constantly strive for more money. As you say it'll never be enough.

Always strive to earn more and do better... We live in a capitalist world after all. Just don't base your life happiness on it.

So how much money is enough

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