Any families in Australia living on combined gross income of less than $100,000 a yr?
Jan 31st 2012, 6:12 am
#121
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Last edited by Pollyana; Feb 1st 2012 at 4:55 am. Reason: Fixing quotes
Jan 31st 2012, 6:39 am
#122
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Re: Any families in Australia living on combined gross income of less than $100,000 a
30 years is the standard mortgage length now in Australia, in the same way that 25 was in the UK. For our latest remortgage I wanted to reduce the term but our particular lender did not offer that, so instead we pay off extra every week and this should reduce our term to 20 years or less.
Circumstances change, sometimes for the worse, but often for the better.
Jan 31st 2012, 6:48 am
#123
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Hello. What's right or acceptable for you and your circumstances isn't necessarily the same for everyone else.
The reality for a lot of people is long-term mortgages to make repayments affordable. I would expect most people in this situation would hope their circumstances improve in the future to the extent they can remortgage. What are the chances that anyone taking out a 30-year mortgage now would stay with the same lender for the whole term, and not move house in those 30 years? Pretty unlikely I would say.
The reality for a lot of people is long-term mortgages to make repayments affordable. I would expect most people in this situation would hope their circumstances improve in the future to the extent they can remortgage. What are the chances that anyone taking out a 30-year mortgage now would stay with the same lender for the whole term, and not move house in those 30 years? Pretty unlikely I would say.
Jan 31st 2012, 9:54 am
#124
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Yeah I know. Last year I read a piece in Sydney's Daily Telegraph about a child care centre in Sydney which charges $120 per day per child and there was a waiting list 
One mother, who had a high-flying job (naturally) had 3 children in care at the centre. She said it was cheaper than employing a nanny.
One mother, who had a high-flying job (naturally) had 3 children in care at the centre. She said it was cheaper than employing a nanny.
Jan 31st 2012, 10:16 am
#125
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Re: Any families in Australia living on combined gross income of less than $100,000 a
I was responding to a post that was asking for opinions on what people think about mortgage lengths. My opinion was that one should look to have paid off mortgage before retiring and not assume that early repayment will be possible. Anyway I can see my response has unintentionally caused some offence, perhaps somebody could report it and have it deleted. I will refrain from further comment.
I find the idea of a 30-year mortgage scary as well but flipping through the property sections of Perth's The West Australian and Sunday Times today I can see how people can end up with that sort of mortgage as property prices in good suburbs with good schools are astronomical.
Jan 31st 2012, 12:56 pm
#126
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Re: Any families in Australia living on combined gross income of less than $100,000 a
I was responding to a post that was asking for opinions on what people think about mortgage lengths. My opinion was that one should look to have paid off mortgage before retiring and not assume that early repayment will be possible. Anyway I can see my response has unintentionally caused some offence, perhaps somebody could report it and have it deleted. I will refrain from further comment.
Jan 31st 2012, 5:02 pm
#127
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Yeah I know. Last year I read a piece in Sydney's Daily Telegraph about a child care centre in Sydney which charges $120 per day per child and there was a waiting list One mother, who had a high-flying job (naturally) had 3 children in care at the centre. She said it was cheaper than employing a nanny.
One mother, who had a high-flying job (naturally) had 3 children in care at the centre. She said it was cheaper than employing a nanny.
Jan 31st 2012, 9:39 pm
#128
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Re: Any families in Australia living on combined gross income of less than $100,000 a
I was responding to a post that was asking for opinions on what people think about mortgage lengths. My opinion was that one should look to have paid off mortgage before retiring and not assume that early repayment will be possible. Anyway I can see my response has unintentionally caused some offence, perhaps somebody could report it and have it deleted. I will refrain from further comment.
One of the things that difficult to gauge in online forums is the (perhaps unintentional) tone of your reply. I got just a hint of "know-it-all" or "smart-alec". Perhaps others did too.
I wouldn't worry about it.
Jan 31st 2012, 10:43 pm
#129
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Re: Any families in Australia living on combined gross income of less than $100,000 a
I ask this question after reading some threads on BE and feeling like a distinct underachiever.
One poster, single bloke with no partner and kids, asked if he could live on $170,000 a year in Sydney, if he moved from London to Oz.
I was surprised by the number of posters who said it wasn't a lot of money !!! To me it's a king's ransom.
The more I read the thread the more depressed I got so gave up
I think the replies were all from high fliers on mega bucks.
In another thread this week a poster commented earning $150,000 a year wasn't much. I would be jumping for joy if I earned half this.
My husband and I have been here 9 years and we have never earned anywhere near $170,000 a year between us, both working full-time.
I think the nearest we got was $140,000 one year and only because my husband did lots of extra shifts. He paid a huge amount in tax.
Despite all this I think we live a very comfortable life and that's with only my husband working at present. I'm looking for work. We have one child, aged 9.
We have always lived in a big new house (better than anything we could afford in the UK), have 2 cars, all the mod cons we need, eat out, go on holidays and every 2 years have been visiting family in the UK. However, I must admit the latter is getting increasing difficult because of the cost of living.
However, we've never lived in a city, only close to one as we cannot afford to, don't own credit cards, don't have private health insurance, or pay private school fees or own designer stuff.
So it got me thinking are there many families out there with 2, 3 or 4 kids surviving on less than $100,000 a year but still consider they have a good standard of living ? Or is this only possible with the help of the Family Tax Benefit system, especially if you live in a city like Perth or Sydney ?
One poster, single bloke with no partner and kids, asked if he could live on $170,000 a year in Sydney, if he moved from London to Oz.
I was surprised by the number of posters who said it wasn't a lot of money !!! To me it's a king's ransom.
The more I read the thread the more depressed I got so gave up
I think the replies were all from high fliers on mega bucks. In another thread this week a poster commented earning $150,000 a year wasn't much. I would be jumping for joy if I earned half this.
My husband and I have been here 9 years and we have never earned anywhere near $170,000 a year between us, both working full-time.
I think the nearest we got was $140,000 one year and only because my husband did lots of extra shifts. He paid a huge amount in tax.
Despite all this I think we live a very comfortable life and that's with only my husband working at present. I'm looking for work. We have one child, aged 9.
We have always lived in a big new house (better than anything we could afford in the UK), have 2 cars, all the mod cons we need, eat out, go on holidays and every 2 years have been visiting family in the UK. However, I must admit the latter is getting increasing difficult because of the cost of living.
However, we've never lived in a city, only close to one as we cannot afford to, don't own credit cards, don't have private health insurance, or pay private school fees or own designer stuff.
So it got me thinking are there many families out there with 2, 3 or 4 kids surviving on less than $100,000 a year but still consider they have a good standard of living ? Or is this only possible with the help of the Family Tax Benefit system, especially if you live in a city like Perth or Sydney ?
To be honest we are on less than $100k per year, a couple, no kids, no mortgage - we rent. We live on the Gold Coast AND we are financially better off than we were in the UK. We earn more here than we did in the UK where we worked more hours (OH was doing 12 hour shifts and weekend work, just to make ends meet in UK).
Jan 31st 2012, 11:06 pm
#130
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Re: Any families in Australia living on combined gross income of less than $100,000 a
That's exactly why everyone in their 20's thinks taking out a 30 year mortgage is a good option.
****** ridiculous, who in their right mind thinks it can carry on? If the 25 year old expects to make a nice big chunk of cash when he sells it means his children will be looking at 35 year mortgages.
and so on and so on.
Take it from me, house price rises continually above wage inflation are not sustainable.
Last edited by Pollyana; Feb 1st 2012 at 4:56 am. Reason: Fixing quotes
Jan 31st 2012, 11:28 pm
#131
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Originally Posted by bingobob777
Yep hopefully all these people in their 50's and 60's will make a nice big chunk of cash when they sell their house
That's exactly why everyone in their 20's thinks taking out a 30 year mortgage is a good option.
****** ridiculous, who in their right mind thinks it can carry on? If the 25 year old expects to make a nice big chunk of cash when he sells it means his children will be looking at 35 year mortgages.
and so on and so on.
Take it from me, house price rises continually above wage inflation are not sustainable.
Having just witnessed it first hand in the UK I could not agree more
Last edited by Pollyana; Feb 1st 2012 at 4:57 am. Reason: Fixing quotes
Feb 1st 2012, 1:13 am
#132
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Yep hopefully all these people in their 50's and 60's will make a nice big chunk of cash when they sell their house
That's exactly why everyone in their 20's thinks taking out a 30 year mortgage is a good option.
****** ridiculous, who in their right mind thinks it can carry on? If the 25 year old expects to make a nice big chunk of cash when he sells it means his children will be looking at 35 year mortgages.
and so on and so on.
Take it from me, house price rises continually above wage inflation are not sustainable.
Last edited by Pollyana; Feb 1st 2012 at 4:58 am. Reason: Fixing quotes
Feb 1st 2012, 1:32 am
#133
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Re: Any families in Australia living on combined gross income of less than $100,000 a
No doubt you own property and rather than accept reality choose to turn debate into bickering.
Last edited by Pollyana; Feb 1st 2012 at 5:03 am. Reason: Fixing quotes
Feb 1st 2012, 5:29 am
#134
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Re: Any families in Australia living on combined gross income of less than $100,000 a
Not quite, the issue of 30 year mortgages has been raised, merely a follow on from that. House price growth not being able to constantly exceed wage growth hardly constitues a crash does it?
No doubt you own property and rather than accept reality choose to turn debate into bickering.
No doubt you own property and rather than accept reality choose to turn debate into bickering.
