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Bank of America Corporation Message Board

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  • ramsdude46 ramsdude46 Feb 27, 2009 1:42 PM Flag

    What Americans Make - USA Today

    $50k per year will go a long way if you know how to manage your money correctly.

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    • You can say that again ramsdude

    • That is 1 - 49,999 -- not all make 50,000.

      And living on 50K with a mortgage and kids is tough today -- watching every penny.

      • 1 Reply to patriotsgo
      • "And living on 50K with a mortgage and kids is tough today -- watching every penny."

        I've been watching every penny for the past 28 years. My first job out of college was as an assistant manager at KMART making $12k per year. The crappy on again off again job market and my personal unwillingness to sacrafice family life to make six figures limited my earnings to $65k before I retired at the ripe old age of 49 years old.

        I own my home (3,000 sq ft) put the oldest thru college, the second starts next fall, and third will graduate from high school in five years. Yea, I made slightly more than $50k per year thru my own tax accounting business and still had time to coach baseball every summer.

        I know another KMART assistant manager who never made more than $50k per year and retired a few years ago at the age of 40 with over $1 mil in his investment porfolio. He has a wife and 2 kids.

        It's all how you manage your money. I'll help those who can't help themselves but I refuse to support the fools that live beyond their means and do nothing but whine about the rich.

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