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"Living Well" in the US
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Wednesday, April 26, 2006
9:48:00 AM EDT
Hearing Rollin' On -- Mark Knopfler & Emmylou Harris
Forbes has a bunch of articles and charts about what it costs to "live well" in the US -- "Living Well" defined as two homes, private schools for the kids, and luxury cars in the garages. Basically, you'll need $200,000 a year -- at least -- to "live well" by this definition, and if you live in LA or New York, expect "living well" to cost more than double that.
Personally, I think Forbes' definition of "living well" is a bit silly. You don't need two houses or luxury cars to live well, and you don't need private schools (just good ones). What Forbes is doing is telling you how much is costs to live conspicuously, which is to say how much it costs to let other people know that you're doing well, and naturally enough I question the wisdom of that sort of lifestyle.
This is particularly true when you know -- as the Forbes article notes -- that even these families doing conspicuously well are saving less than 1% of their income annually (i.e., saving just as poorly as anyone else). Call me a throwback or whatever, but I think part of living well should be giving yourself a cushion for when you're suddenly not living so well, for whatever reason.
Here's what I need to live well: A house that fits my family, a lack of worry about whether I can afford clothes, food and utilities, cars that run well, a school that educates my kid well, a somewhat fast computer with a somewhat fast Internet connection, and lots and lots of books. That's good living, and it happens at a substantial discount to what Forbes suggests it should cost.
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9:48:00 AM EDT
Hearing Rollin' On -- Mark Knopfler & Emmylou Harris
"Living Well" in the US
Forbes has a bunch of articles and charts about what it costs to "live well" in the US -- "Living Well" defined as two homes, private schools for the kids, and luxury cars in the garages. Basically, you'll need $200,000 a year -- at least -- to "live well" by this definition, and if you live in LA or New York, expect "living well" to cost more than double that.
Personally, I think Forbes' definition of "living well" is a bit silly. You don't need two houses or luxury cars to live well, and you don't need private schools (just good ones). What Forbes is doing is telling you how much is costs to live conspicuously, which is to say how much it costs to let other people know that you're doing well, and naturally enough I question the wisdom of that sort of lifestyle.
This is particularly true when you know -- as the Forbes article notes -- that even these families doing conspicuously well are saving less than 1% of their income annually (i.e., saving just as poorly as anyone else). Call me a throwback or whatever, but I think part of living well should be giving yourself a cushion for when you're suddenly not living so well, for whatever reason.
Here's what I need to live well: A house that fits my family, a lack of worry about whether I can afford clothes, food and utilities, cars that run well, a school that educates my kid well, a somewhat fast computer with a somewhat fast Internet connection, and lots and lots of books. That's good living, and it happens at a substantial discount to what Forbes suggests it should cost.
Written by johnmscalzi Blog about this entry |
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This entry has 10 comments: (Add your own)
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Um.. I made a typo--reality shows, not reality shoes--although, reality shoes might be a good idea... Julie
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You can "live well" in your nice homes, and private schools, luxury cars, designer clothes...etc..etc..and still feel miserable, unhappy, and unloved. These reality shoes on the Rich and Famous, celebrities..etc..really make me want to hurl sometimes.. It's insane, and hard to watch. Money helps, but it isn't the answer to happiness!! Julie :)
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Hmmmm... definitely NOT my idea of "living well".... I think having one house is quite enough, thank you! And, more important than that second house and private school and luxury car? Having someone who loves you and you enjoy spending time with!
http://journals.aol.com/astaryth/AdventuresofanEclecticMind
http://adventuresofaneclecticmind.blogspot.com/ -
i would add and extremely good medical insurance.. otherwise you may have to sell that house for an unexpected heart surgery or something similiar..
4/27/06 8:01 AM