80k will keep you on a paycheck to paycheck basis for a middle class lifestyle.

$80k
50% of it will go to your federal taxes, state taxes, 401 retirement plans.

That leave you with $40k.
Then let's factor in car payments ($4000), various insurances ($2000).
Then comes the housing part. If you're living alone and single, a single bedroom might suffice? Well, in a somewhat safe neighborhood, that's like $1000-$1500 a month including utilities and stuff. So that's $12k - $18k.  So let's average that out to be $15k.

Then you need food. Let's see, $400 a month sounds good? (unless you want to eat hella unhealthy. That's another $4800 there.

So let's add all those up: that's $25.8k there.
Of course, to me, that sounds like a pretty ghetto lifestyle.
If you want to buy a house, the numbers would be a lot worse.

To even consider to buy anything you don't really need such as an Enzo, you should make at least $500k a year.

Now I see why there's people who are fed up with their lives, the future looks so bleak for most people in this world. It's just work, pay bills, work, repeat cycle.

---

In terms of shit you dont need

since im basing my career off the things i want in life so here they are

dining at nice restaruants occasionally
chilling in the vip
2005 ferrari enzo (when i buy it in 8 years its only going to be like 50k)
95 supra. tricked out (like a 30k car)
sea do
4 wheeler
a nice 2 story house

 
would 80k a year be enough to afford all that?

---

in terms of shit???

mrlupo8,

for 1 thing that u should know of, I am a huge Ferrari fan. take note of this: not 1 ferrari that has been made since at least the 1980's is under a price tag under $1 million.

good luck on paying those loans.

-------
[If you don't like me, too bad]
"The amount of fail on THEFORUM.COM is reaching epic proportions." - hughnon

dining at nice restaruants occasionally (maybe...)
chilling in the vip (lol! no way!)
2005 ferrari enzo (when i buy it in 8 years its only going to be like 50k) (Yeah right! sorry, but Enzo's price will only go up since only 300 were made)
95 supra. tricked out (like a 30k car) (hmm... with your budget it'll be pretty hard)
sea do (huh? what's that? )
4 wheeler (yeah... this is possible)
a nice 2 story house (no way;) A nice house in a nice area would cost something well above $1.5M, there's no way you can afford that. )

For houses:
With an $80k income, you'll be able to afford a $320k house max (you'll be very money income crunched during your stay there), that'll give you a crappy house in a crappy neighborhood:P

Unfortunately, it's unlikely that many of of the people in our generation will be able to buy our own houses. Although housing prices have came down a little bit recently, they will remain to be unaffordable for most Americans. So your best chance of landing a good house is from inheritance, else there's a very little chance that you'll be able to get yourself a nice house.

I'm sure that there's a lot of us who wants to be successful, however, success in this world takes more than just hard work alone. I, too, dream of having a nice house etc. But I keep a realistic mindset that such futures are highly unlikely. The fact is that the majority of us will live a boring life of an endless cycle of work and bill paying. Really makes you wonder if there's much meaning life.

Well, i'm not encouraging suicide here:P don't get me wrong. Definitely give your best shot a life;) Don't do anything stupid until you're like 45-50(then, there's really not much potential left):P

You will pay at least $2500/mo on a home morgage.  And that's for an inexpensive home.

Your cars will run you roughly $1200/mo.

Now you are at 3700/mo.  Just on home and cars.  This is over half your income.  You will not have enough money to pay for any utilities or food.  I would drop the fancy car dream and focus on buying a home.  

I have two cars and a home, and I can tell you, it's expensive.. I don't even have 1 fancy car.  My car was like $18K and the other commuter car was like 10K.

Be smart, budget.

-------
I've got spurs that jingle jangle jingle.
As I go riding merrily along.
And they sing, "Oh, ain't you glad you're single?"
And that song ain't so very far from wrong.