Salary/wage/business income levels

Discussion in 'Loans & Mortgage Brokers' started by Gockie, 8th Aug, 2015.

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What is your income?

  1. 1 person <50k

    4 vote(s)
    5.0%
  2. 1 person <75k

    7 vote(s)
    8.8%
  3. 1 person <90k

    6 vote(s)
    7.5%
  4. 1 person <120k

    7 vote(s)
    8.8%
  5. 1 person <150k

    6 vote(s)
    7.5%
  6. 1 person 150k+

    13 vote(s)
    16.3%
  7. 2 person <70k

    1 vote(s)
    1.3%
  8. 2 person <110k

    7 vote(s)
    8.8%
  9. 2 person <150k

    8 vote(s)
    10.0%
  10. 2 person 150k+

    21 vote(s)
    26.3%
  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    Hi,
    To buy property you need both serviceability and equity. Curious to understand the salary levels of forumites.

    Guidelines:
    *If you have a partner who is happy to be in on joint loans, please include their salary, otherwise just use your own salary/wage/business income.

    *Include money you may have deducted from your take home pay like salary sacrifices since you can change your mind on that and convert back to normal pay at any time.

    *Don't include income from investments such as property or shares.

    *Don't include employer super contributions etc.
     
    Last edited: 8th Aug, 2015
  2. FireDragon

    FireDragon Well-Known Member

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    Where is the >70K option?
     
  3. Gockie

    Gockie Life is good ☺️ Premium Member

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    Sorry, I touched my screen at the wrong place while putting the poll together. Fixed.
     
  4. jins13

    jins13 Well-Known Member

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    Be a good data to know. I am thinking that many of the people in the forum are not high earners but generally people who knows how to use the money that they have to increase their cash flow.
     
  5. D.T.

    D.T. Specialist Property Manager Business Member

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    Location:
    Adelaide and Gold Coast
    Excluding Super?
     
  6. Gockie

    Gockie Life is good ☺️ Premium Member

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    For super: I included super you may decide to voluntarily salary sacrifice (because that's money you are able to convert to income if you wanted to), but not employer contributions because that can't be touched.
     
    Last edited: 8th Aug, 2015
  7. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Shouldn't the values for 2 persons income be approx double the 1 person income levels on the poll?
     
  8. Gockie

    Gockie Life is good ☺️ Premium Member

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    I figured if you have 2 people on different salaries... I think if I created 2 threads one asking about single person loans and another on dual income loans i'd be able to show more poll options. But it also meant doing two threads and 2 polls.

    Anyway... Dual income 150k can get people reasonably far? A 200k plus category of dual incomes would be a nice option to have but i'm limited to 10 options overall...
     
    Last edited: 8th Aug, 2015
  9. Steven Ryan

    Steven Ryan Well-Known Member

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    You seem to be on the money (see what I did there) from early results. Biggest chunks of voters are single >$50k to < $90k.
     
  10. Famil Man

    Famil Man Well-Known Member

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    Rockhampton
    I picked 2 person <110k but we only have 1 income.
    I make 120k year just gone and sometimes it feels like its not enough.
     
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  11. Pistonbroke

    Pistonbroke Well-Known Member

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    Guangzhou
    That's because one $120k income pays more tax than 2 @ $60k due to dual tax free thresholds.
     
  12. HUGH72

    HUGH72 Well-Known Member

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    And also just high enough to miss out on any government assistance if someone has kids but not high enough to be overly comfortable IMO
     
  13. chunho01

    chunho01 Well-Known Member

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    4th Jul, 2015
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    115
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    VIC
    I guess my nearly-half-that-amount-salary is pitiful then :( Adding my IP income is still nowhere close to 6 figures...
     
  14. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Why not include income from property investments?
    What if you earn a passive 500k annually, but have no other income.
    If you vote the lowest income on the poll, wouldn't that be a little misleading?
    Maybe some people would consider property investing a business though...
     
  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    Living off passive income... sorry I cant add that to the poll but would if I could retrospectively... (I cant alter it now), plus it would eat into my already very valuable 10 options. I wish I could have written in more 2 person options too, but when making the poll there wasn't the capacity to do that.

    By the way Ace, I get what you're saying.
    So how about you put in the annual salary you were paid just before you started living off passive income?

    I can see there are many people with high incomes here on the forum but I can also see many people on lower ones too. Not everybody working in IT earns a lot of money. Not everybody who is a property investor earns a lot of money but can still build a portfolio.
    Cheers.
     
    jins13 likes this.
  16. jins13

    jins13 Well-Known Member

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    I wish I was at that stage of having a passive income but know its a matter of time.
     
  17. Bunlee

    Bunlee Well-Known Member

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    Location:
    Sydney
    I am in a similar position, around $110,000 to $120,000 pa with wife looking after young child full-time. We do o'k as accumulated assets prior to child arriving.

    On paper the story looks pretty good but income fully absorbed by living expenses, amounts set aside for investment (ie, reduction in margin and property loans) & a decent holiday every year. Rinse and repeat every year..........

    regards
     
  18. skater

    skater Well-Known Member

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    As of Tuesday, ZERO! Sorry, no option for that.
     
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  19. Famil Man

    Famil Man Well-Known Member

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    Rockhampton
    Yeah very similar, although we had our first child before aquiring ANYTHING so the process is substantially harder now. We decided to make it more difficult by having twin boys 18 months ago.
    Trying the 'holiday' thing this year, been pretty hectic the past 3-4 years.
     
  20. beachgurl

    beachgurl Well-Known Member

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    Congratulations Skater and Bargain Hunter!
     
    skater likes this.