Full time !! $1,000 a month .... oh great ...

[Scott Ames]

Everyone has in their head what a "full time" income means to them. When I see people that are full time and they make about $1,000 a month or so, I'm not excited.

Way in the past I could have lived off of that, but now it doesn't even cover my spending on toys.

I guess it all depends on your lifestyle, debt, expectations, and wants.

[nicholasb]

yeah definitely not enough to live on.

I would say 30k per year is the minimum to be able to live comfortably these days.

[Spencer Jones]

The truth revealed. The more you get the more you will want...

[rapidscc]

It can't be that bad when you're in Asia or other countries. In the Philippines that's over 46,000.

And just to give you an idea..a coke in can here is about 20 pesos in the Supermarket.

I agree that 1,000 USD monthly is not enough to afford us a "rich" life but here you can live off of that decently.

All the best,

Omar

[DLB]

$1,000 a month ? Don't go with the hype and quit your day time job , not yet

[ShaneRQR]

I couldn't live off 1000$ a month either (but then, I live in one of the most expensive spots on earth...). But 1000$ a month could allow you to maybe scale back on your daytume job and invest more in your online business? 1000$ can be used to buy traffic and maybe leverage your profits?

Any amount of online income can help you get moving towards more and more and... (greed mode)

[Scott Ames]

Originally Posted by rapidscc

It can't be that bad when you're in Asia or other countries. In the Philippines that's over 46,000.

And just to give you an idea..a coke in can here is about 20 pesos in the Supermarket.

I agree that 1,000 USD monthly is not enough to afford us a "rich" life but here you can live off of that decently.

All the best,

Omar

Well true! It does depend on what country you live in.

[Louise Evans]

$1000 a month wouldn't even pay half of my mortgage these days, but I supose we all live to our means.

Once upon a time the thought of making $1000 a month felt like a dream.. almost impossible. And now, well, I'm thankful for what I've got and feel pretty lucky to be in a good position where working is my choice. I know that many others might not experience the same as me, so I am very lucky.. but.. maybe we create our own luck.

[Kirahster]

My rent alone is $1100 a month and I do not share that with anyone so I agree with your statement!

[Oscar D]

Originally Posted by Scott Ames

Well true! It does depend on what country you live in.

I can second that, although $ 1 000 might not be big for some I can assure you that I can live quite happily off $ 1 000 here in South Africa.

With $ 1 000 a month I would make sure I always save a little to invest and expand, and then before you know it that $ 1 000 a month can grow to $10 000 and beyond

[jamesnicholson]

Same here! I live in Central London and double that would just get me my rent and my parking paid :-( Dont quit your day job.

[Kevingators]

A $1000/month pays for my grocery bill with a family of 6. I'm looking to make $1000/Day.

Kevin

[misterwrecker]

$1000 a month will not get you too far when you are living in NJ.

And that's single with no kids.

[Sylvia Rolfe]

I spend on average and I am quite the saver, around $6k a month, between housing, food, bills etc. Granted I have a family of 7, but I could not see anyone now being able to live very well or comfortably off of $1k a month. My happy comfortable goal would be around $120-$180K a year.

[SeanSupplee]

I hear ya on this one. I myself got caught up in telling people you can make a full time income online. Instead of giving some type of number figure. I laid off of it now though and now give a number figure. The reason as you said $1,000 a month is not anything. To live a decent life in the US here you need a good 30k and even then your going to still struggle. Glad you put this out here as I was thinking like you full time income... What is full time income to you?

[joshril]

Geez... I spend that at Starbucks...

I would say that $50k-$60k throughout most of the US is the bare minimum livable wage these days. In some locations, even that is not enough. I will say I live in a fairly expensive part of the country though... median income in my town is about $70k last time I checked.

It's really all relative though. $100k to someone might be just over broke, but to someone else could be a fortune. All depends on perspective.

Originally Posted by nicholasb

yeah definitely not enough to live on.

I would say 30k per year is the minimum to be able to live comfortably these days.

[Steven Carl Kelly]

Originally Posted by joshril

It's really all relative though. $100k to someone might be just over broke, but to someone else could be a fortune. All depends on perspective.

I realized the other day that I couldn't possibly maintain my current lifestyle if my annual income ever fell below $100k.

[TMG Enterprises]

It all depends on where you live and how you live. I raised three kids single handedly on $1000 per month. Definitely could not do that where I live now but could where I was living then. Didn't have the best of everything and things were tight but we survived.

Now, I have a partner so I don't have to come up with all the bills by myself. However, it was easy to replace my income from my last job as I was only making $10.45 per hour. Now I'm making more than what I was making then so I can't complain.

Of course, I'm still reaching out and hope to double my previous income by Christmas (close to it now).

Tina

[Sirago]

Originally Posted by nicholasb

yeah definitely not enough to live on.

I would say 30k per year is the minimum to be able to live comfortably these days.

30k/yr? I need out of CA..

[Chris Pambos]

Originally Posted by Scott Ames

Everyone has in their head what a "full time" income means to them. When I see people that are full time and they make about $1,000 a month or so, I'm not excited.

Way in the past I could have lived off of that, but now it doesn't even cover my spending on toys.

I guess it all depends on your lifestyle, debt, expectations, and wants.

Definitely, to some people, $500 - $1,000 monthly is enough for them to quit the rat race and live comfortable depending on their lifestyle, debt, expectations and wants.

To other people, that's nowhere near enough and they require a monthly income for example, let's say, $5,000 - $15,000 to be able to live comfortably.

For me, even at $1,500 monthly in the past which allowed me to quit the rat race, I still went for it so it opened up so much more free time allowing me to focus more on growing and expanding my online businesses and from then on, I never looked back.

[Allegro]

$1000 suck, but €1000 would be good.

[Aaron Moser]

I wouldn't even get out of bed for $1k a month!

[Tron2k]

$1000 a month?? wheres my knife!.. lol

[Pattaya-Addict]

in ireland if you are unemployed you get 1200 per month from the state, as well as childrens benefit, rent alloawance, fuel allowance and a whole lot more, no wonder we are heading for 20% unemplyment rate here

[Shane Lowry]

I think 1k a month is a great start. f

At that point you should have some systems in place that help things kick along. You should have also learned a bunch and be able to try things to add to it.

I wouldn't quit working on that, but it's certainly nothing to sneeze at.

Kind Regards,
Shane

[yourreviewer]

I agree, that's hardly enough. And if you are married, have kids and a mortgage, forget about it. You need a lot more than that.

[Lisa Gergets]

LOL - I live in Chicago, where my rent alone is $1300. Add in two kids and a husband...

I'd need around $5000 monthly to be able to quit working.

[warmlikecoffee]

Yeah $1k a year is really not going to do it anywhere in the states, especially in prime areas such as CA/NYC. $1k a month is not thinking long term, how about kids, their college tuition etc etc.

[Talinn]

I'm in Istanbul and I would need about $1K a month to live here (you'd add another 1K if my home wasn't owned by my dad and I had to pay rent)

[Ralph89]

My mortgage at the moment is £1100 a month. My aim is at least double plus my day job. The taxman said I earnt £33k last year and that was just surviving UK wise doing shed loads of overtime work/life balance what balance. Still seperated now accepted an offer on the house and will be living on my canal boat by Christmas Happy Days wha hay

[andrew_writes]

I would really like to see where most of the posters here live.

I could live off $1000 a month and I actually almost do, at $1500 but all of it does not go on bills.

I have 6 kids but one doesn't count since she is 19 but if I were really careful, 1k a month, I could do.

I tell you what, pay me 1k a month and I'll do a whole bunch of work for one of you posters so you can make your 10k a month that you usually make.

Sound fair?

[actionplanbiz]

although its good compared to a lot of people that are trying Internet Marketing... it is not something to be excited about.

but if it was all autopilot or even 1 Hour a day, then i would say thats pretty Good.

[nettech]

$1,000 per month wouldnt last me very long, my mortgage and credit card bills alone are double that. Living in London doesnt help either. Like most people say, it all depends on where you live. If i moved out to maybe Asia somewhere I could be a bit more confortable but if you live in Mainland Europe or the States you're going to struggle somewhat. Saying that though, who wouldn't like to earn an additional $1,000 per month on top of what they earn already? I'm not going to say no but just don't start writing out your resignation letter yet...lol

[nettech]

Hats off to you bro, thats brilliant if you can do that. :-)

Originally Posted by andrew_writes

I would really like to see where most of the posters here live.

I could live off $1000 a month and I actually almost do, at $1500 but all of it does not go on bills.

I have 6 kids but one doesn't count since she is 19 but if I were really careful, 1k a month, I could do.

I tell you what, pay me 1k a month and I'll do a whole bunch of work for one of you posters so you can make your 10k a month that you usually make.

Sound fair?

[redicelander]

I need $100/day

[hotftuna]

$1k/month? My power bill is $500 alone. Gotta think bigger than that.

[ramone_johnny]

My eventual goal is $100K a month.

Peice of cake -- only $95K more a month to acheive it

[hotftuna]

ramone_johnny, 100k/month? Now that is big.

[Jhf14]

$1,000 a month is well below poverty...you'll make better money at mcdonalds

[ramone_johnny]

Originally Posted by hotftuna

ramone_johnny, 100k/month? Now that is big.

Yep. Im 100% dead serious.

[abbadox]

Back in the late 80's I went to Honduras and I remember at the time the average full time income for someone in that country was like $240 U.S. dollars a year.

The amount of money you need to live on is usually much smaller then the amount you want, combine this with the variation of living expenses around the world and it becomes impossible to define what is a required amount of income to live on

[johnsamuels]

If you invest the $1000 back into your online ventures, you should be able to increase it exponentially.

[Scott Ames]

Originally Posted by ramone_johnny

My eventual goal is $100K a month.

Peice of cake -- only $95K more a month to acheive it

Just from your attitude and posts I know you will get that done.

[Billy Rey]

Originally Posted by johnsamuels

If you invest the $1000 back into your online ventures, you should be able to increase it exponentially.

Yes! I agree with you completely.

At first when I was earning around 400 a month, I just invested it back and grow it did.


this is a nice thread Scott!

[willyboy104]

Originally Posted by jamesnicholson

Same here! I live in Central London and double that would just get me my rent and my parking paid :-( Dont quit your day job.

Agreed I would need about double that to pay monthly rent here, stupid London.

However as someone else states it depends where you live I could move to somewhere in Asia and live very comfortably.

[DogScout]

You can always tell who lives in San Diego

Under 8k/mo, I'd have to file!

[timpears]

A $1,000 a month from internet marketing would do me fine, and I live here in the good ol USA. Of course, I retired six years ago, due to health problems and get Social Security, so that $1,000 would only be supplementing my Social Security income. But it would move me from existing to being able to live a little easier. It would make a big difference in my life, that is for sure.

[DogScout]

wouldn't they ding the SSI

[chris_surfrider]

It all depends what your liabilities are and how you set things up.

Some people think they need a lot more than they actually do in reality. It's what you do with your money and how you budget.

There's a lot of people earning $100K+ that have NOTHING. It all just goes to tax, lifestyle cost (liabilities, leisure, toys, etc), consumer debt service, etc.

And likewise, we have friends that certainly aren't going to impress anyone with their income, but they own all their stuff and live like rockstars and have NO DEBT because they sacrifice one thing to have another. (If you can't choose "all", don't.)

I've put basically all my online after-tax dollars (and don't even get me started on what that looks like for high-earning Canadians... good God...) into cash-flow investments that cover themselves and a bit more.

I also don't go into consumer debt for anything. Nothing.

Which requires patience when you have an interest in, say, BMW M3's and 911 Turbos :-)

So basically, we're able to live "for free" in terms of housing (our own mortgage payments are covered by the posi-cash from other investments/props), and our actual day-to-day living costs aren't that high.

Maybe 1500 - 2000 a month on top of the mortgage (which is "free").

So in our situation, all we'd "need" is about $2K a month to live.

Living WELL is another situation altogether, but again depends on what you want.

The trick is to keep liabilities to an absolute minimum.

We actually rented a condo until we bought enough revenue properties to cover our own mortgage payments. It was hilarious. Our neighbors totally thought I was a drug dealer or something.

All they knew is that we travelled a lot and had no set schedule.

Anyway, what I'm getting at here is that if you "need 100K" to maintain your curent lifestyle or whatever... maybe it's time to see what you can do about resetting that or taking down some liabilities.

It doesn't matter how much you make.

It's what you keep.

And what's ironic is that when you start adopting this mindset, you usually start making more money anyway - because now you're not dealing with the stress of juggling everything to stay "afloat".

Just some thoughts...

-Chris

[timpears]

Originally Posted by DogScout

wouldn't they ding the SSI

If it was only $1,000 a month, probably not. But even if they did ding me, or I made much more so they did dock me from the SSI, it would still be a net benefit. I have had years when I had investment income and I had to pay taxes on my SSI income. But the tax is only a percentage of the income so I would rather make the money and pay taxes on it than not to be making it.