And I'm curious what the OP does for a job, if he plans on living in an area cheap enough for a $200k house, yet will "choose not to have a car." This seems pretty impossible to me.
I've been reading a lot of your posts and you guys have it all wrong about salaries. I don't know what your certain expectations or needs are, but for me at least, 50 k is more than enough to live luxuriously. Let me explain amd if anyone wants to argue with me, please do. I'm interested in hearing what you all have to say about this.Let's assume for example that I make 50 k a year. I currently live in San Francisco and a comfortable 1-bedroom here costs around 1100 including utilities. I know, I know - it is generally more expensive than that here but I am talking about a middle-class neighborhood and not the elite part of the City.Let's also say I live with my girlfriend and we split the rent. If I live VERY generously, I will spend about $1000 per month ($500 for half the rent and $500 for food and fun). I don't drive a car and don't ever plan on buying a car. I don't even use public transportation - I walk everywhere for the fun of it. I also don't plan or currently eat at LAVISH restaurants and am perfectly OK with that. I also don't have many super-rich material possessions, and I'm even more OK with that.Now, at the end of the year, after taxes (let's assume 15% of my 50 k gets taken away), I will have a total of $42,500 for the year. Subtract $12 k for the $1000 I spend each month and I have a total of $32,500 for the year. Let's assume my girlfriend makes exactly as much as I do - and thus we have a combined yearly income of $71,000.I plan on buying a great home for only about 200 k in Atlanta after a few years. If I wanted to, after only about a year's worth of work, my girlfriend and I can put in 50 k for the down payment of a house and save the rest of the 21 k. That's ONLY after one year! Check out these gorgeous homes in the ATL:http://atlanta.craigslist.org/rfs/44734623.htmlhttp://atlanta.craigslist.org/rfs/44139231.htmlAs far as kids go, I plan on having 1 at most and I would want my kid to go to public schools etc for diversity etc. Plus, I just think private schools are a waster of money. If you combine both of our salaries, we can take very nice vacations and go to nice restaurants if we choose. Personally, I just don't spend my money on SUPER-RICH cars, vacations, tv's etc.Yes, 50 k will not be enough to buy a home in the Bay Area or other expensive places, but I don't plan on living here in the future.My point is, don't become a lawyer for the money! You can do what you love and follow your dreams and if you can make at least 50 k, you can easily live very well and comfortably if you just choose wisely where you want to live.
Quote from: jacy85 on October 09, 2004, 12:43:29 PMAnd I'm curious what the OP does for a job, if he plans on living in an area cheap enough for a $200k house, yet will "choose not to have a car." This seems pretty impossible to me.Portland, Oregon or any random large college town. Both have great public trans.
and working in a small firm means you do smaller things, talk to clients, sign papers, etc. right? while BigLaw is more towards Court and working for a large corporation and putting in many hours of work? how much money can i expect on making in each at the start? after 10 years?