Financial question

[thistrucksforyou]

I read many things here ,but I was wondering , to live comfortably there how much income should one have to play there....I am very familiar with TV..I come and visit 2 or 3 times a year...I am going to buy there when the time comes....If one has a zero mortgage and a full understanding of entertainment costs what would be a comfortable income ?

[nkrifats]

I believe that is determined by the individual. What you do as for as travel and etc in your lifestyle. Each of us is different in how we live.

[BobKat1]

That's a very accurate answer. Living expenses will vary widely by person. How much you spend is just as important as much you save/earn etc.

[l2ridehd]

Based on several threads on this topic, I would suggest that 30K is an absolute minimum required and that will require a no mortgage home. Somewhere around 50K is more comfortable and more realistic. Anything over 75K and your probably in great shape, can have a nice designer home with a mortgage. Over 100K and you can live very well. This is just my opinion based on reading lots of input from others on this topic. Again it all depends on life style, how much you travel, how often you eat out, what you do for entertainment, what you enjoy in life. It costs 1K a month for gas, electric, water, amenities fee, cable, lawn and a few other utility and daily living costs. Then mortgage, taxes, bond, and home maintenance are more dependent on the type and size of home you have. Then you have food clothing and entertainment and those can be the biggest variable. For some that is a high cost and others very low. So 1K for required living support, home can be $300 to 4K dependent on size and mortgage, then your life style costs, 1k to $XXXX.

[Barefoot]

I read many things here ,but I was wondering , to live comfortably there how much income should one have to play there....I am very familiar with TV..I come and visit 2 or 3 times a year...I am going to buy there when the time comes....If one has a zero mortgage and a full understanding of entertainment costs what would be a comfortable income ?

$30,000 to $50,000 should be sufficient. If you're not going to make a lot of expensive additions to your home (I'm thinking of pools, large birdcages, summer kitchens, etc.)

You can always cut back on entertainment. Or if you are running a surplus, you can treat yourself to a spending spree. :wine:

[rjm1cc]

Based on several threads on this topic, I would suggest that 30K is an absolute minimum required and that will require a no mortgage home. Somewhere around 50K is more comfortable and more realistic. Anything over 75K and your probably in great shape, can have a nice designer home with a mortgage. Over 100K and you can live very well. This is just my opinion based on reading lots of input from others on this topic. Again it all depends on life style, how much you travel, how often you eat out, what you do for entertainment, what you enjoy in life. It costs 1K a month for gas, electric, water, amenities fee, cable, lawn and a few other utility and daily living costs. Then mortgage, taxes, bond, and home maintenance are more dependent on the type and size of home you have. Then you have food clothing and entertainment and those can be the biggest variable. For some that is a high cost and others very low. So 1K for required living support, home can be $300 to 4K dependent on size and mortgage, then your life style costs, 1k to $XXXX.
i have been trying to come up with my own estimate (non resident). 12ridehd could be correct. The 30K would be very tight so you would want to live in a village without a bond and lower taxes etc. If I did not have to pay income taxes the $50,000 would work for me. That would be cutting back on some life style choices but if the economy went South I could fall back to $50,000. The $75,000 to the $100,000 range should put you in good shape. I am not including any costs for vacations but in the 75 to 100 range there are a lot of dollars for recreation. If you have a mortgage then some of the recreation dollars would have to go to that.

[l2ridehd]

You can always cut back on entertainment. Or if you are running a surplus, you can treat yourself to a spending spree. :wine:[/QUOTE]

Barefoot, I like how you think. When you return from your summer in the North, let me know. We will have you folks over for some really good wine.

[Barefoot]

You can always cut back on entertainment. Or if you are running a surplus, you can treat yourself to a spending spree. :wine:

Barefoot, I like how you think. When you return from your summer in the North, let me know. We will have you folks over for some really good wine.[/QUOTE]

12ridehd .. sounds like an excellent plan. :beer3:

[Pturner]

Barefoot, I like how you think. When you return from your summer in the North, let me know. We will have you folks over for some really good wine.

Whaaaaaaaaaat? Barefoot likes how Barefoot thinks? I think I'll try that.

PTurner, I like how you think. When I return, I'll have me over for some really good wine.
:wine:

Yep, that works.
:beer3: