What would your life be like in San Francisco if your salary reached up to $200k a year as a single person?
I will be utterly honest with you.After a certain after tax income level, more money is just investing and/or saving for a down payment for a house.Unless you are a clothes horse, have expensive tastes in cars, or are otherwise a spendthrift, for most people $200K is far, far above what you need to deal with living in San Francisco itself.You’ll spend 1/3 of it on rent — or a house payment, if you bought a few years back in time instead of renting back then — and you will be left with a disposible income of about 3X what you’d have anywhere else in the U.S. after taxes and housing are taken care of there.For a single person you probably hit “comfortably making ends meet” at about $120K-$140K a year, even with 50% of your after tax going into housing.Unless you have a huge debt — for example, medical bills, or you didn’t pay attention in high school, so instead of a full ride academic scholarship, you took out student loans (and then didn’t also work your way through college) — you’re covered at that level, even if you like to eat out a lot, have a car payment on a $35K car (buy, not lease — otherwise the payment never goes away).So $200K is $30K-$40K after tax more than you need to get by renting. 4–5 years saving it all, instead of spending it, and now you’ve got a 10% down payment on a ~$1.5M house/condo.There are people who would spend every dime they earn — and then some.Those people will likely be pretty screwed, no matter how much they make, since they are living above their means.If you grew up poor somewhere — $200K is a heck of a lot more money than you know how to get by on, even when you feel you are spending it like water because you’re not going to the freight damage store to buy food in dented cans with some of the labels peeled off.$200K is essentially “rich”.
I will graduate with over $140,000 in student loan debt and expect to make about $45,000 - $50,000 my first year out (degree in CS). Would it be wise to hold off marriage for a while until I pay a large part of it off?
If you want to get married, get married but keep your finances separate; that's my advice irrespective of whether you're the higher or lower income earner in the relationship. The single joint bank account model makes sense if there's only 1 income in the family but if you're both working then combining your finances risks creating more problems than it solves.Money has the potential to cause a lot of tension in a relationship as each partner values discretionary items differently. If you see your partner's tech toys as a waste of money and they think the same of your new sports gear it can lead to arguments.I believe the best solution is to remove the "our money" thinking from the equation as much as possible. You should each pay your half of rent/food/bills etc. and if you have a plan to save for a big purchase like house/holiday/whatever together then have a joint savings plan for that; but once the communal expenses are covered what's left should remain unpooled so that neither partner has any cause to judge the spending priorities of the other.Keeping finances separate also makes untangling easier in the event of a future divorce (not that that's something you want to plan for, but ignoring the possibility of is just stupid not romantic).
I recently inherited 70k from a relative how do you think I should invest it?
Look at NFI, they pay 18% dividend. Look at LYG, they reliably pay around 6%
Are Americans that make $200,000 per year rich?
Let's see? If they're earning $200K as oppose to someone who is earning $50K and they're buying in the same grocery stores, same department stores and all that stuff. Which of the two do you think will have a lo more to spare? Yeah, they're rich....unless they don't know how to manage all that money and they're still in debt. If people can live with a $50K salary, I think someone with 4 times that amount would be living the life of luxury.
What is the difference between face and fair value ?
In fixed income analysis, also known as bonds, or loans, the face amount is simply the actual amount borrowed in the first place, as the other contributor noted, perhaps $1000. The fair value is what the bond is currently worth which is different from the amount borrowed as interest rates change. For example, let's say that last year, an investor bought a 10 year $1000 bond with a coupon of 5%. It will pay out $50 per year every year for 10 years, and return the $1000 at the end. Now, a year into it, interest rates skyrocket to 20%. An investor willing to lend $1000 expects to earn $200 per year, not $50. Using Excel, I calculate the NPV, or fair value of the original bond at $395. That's right an investor a year later would only pay the fair value of $395 for the bond that has a face value of $1000. The reason is that if he invests $395 and gets $50 a year and gets the full $1000 back at the end, he will receive the same 20% interest over the time horizon.
Is it emasculating when a girl buys her bf presents, treats for dinner or pays for vacation?
Idk why I feel so compelled to buy my bf expensive things/ take him on a surprise vacation for his thirtieth birthday. I actually don't buy him VERY expensive things but I buy him a lot of things and sometimes I even treat when were out. I paid for our airfare to Europe even though he's actually the wealthy one. He asked how much he owed me a bunch of times and I told him don't worry... I've read in dating advice that it's bad to actually do this because it's not allowing him to provide for you. I make good money but I know I'm being dumb because I should be paying my student loans rather than spending on my bf. I'm afraid what I'm doing may kill his desire for me. I've recently gotten myself a second job and taken overtime shifts to pay my 140k school debt (making between 94-100k at this point). He acknowledged that unlike others in debt I'm trying to crush it by working extra. However some of the extra I spend on him... Is this undesirable? Am I emasculating him?