When I was making $50k gross a year I always thought $70k-$80k gross is a nice comfortable salary. Now that I've been making that the past 5-6 years its still not enough for me. Cost of living has risen too fast for that salary to be comfortable.
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Originally Posted by 4444
that's not the question to ask, the question to ask is what is the ideal salary relative to average cost of living for an average person.
My answer to that is take home pay = 2x cost of living. live on half, invest other half. will never have to worry about money if you do that for a while.
In Vancouver, I don't think $100K gross salary allows for a comfortable life, and I do not live an extravagant lifestyle at all, nor did I when I lived in Vancouver.
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When I was still living at home making $50k/yr that's exactly what I did. 50% was my cost of living 40% went to rrsp/mutual funds and 10% was my liquid savings. In 2 years I saved $40k for a down payment for my first condo in surrey. Sold that 2.5 years later and was able to move back into Vancouver. Now to make more than $80k a year ......