Those of you 40-ish or older, how does your standard of living compare to what it was in 2000?

[branders seine]

Poll question: Those of you 40-ish or older, how does your standard of living compare to what it was in 2000?

note that this is an economic and financial question, not a question about your perception of your quality of life. How much money do you make, spend, have saved, have invested, etc.?

Those of you too young to have had your own "standard of living" separate from your parents in 2000, or who were just starting out in 2000, this question isn't really for you.

[Brickbat]

1. Oh, crap, I voted wrong.

Also, I'm 38. Compared to 2000, I'm about the same. Compared to 2001, I am much, much better off.

[spinbaby]

2. We're doing about the same

Hope to be doing better before we retire but not holding our breath.

[hobbit709]

3. It sucketh on many levels.

[MrSlayer]

4. I'm working, so I'm doing the same.

That can change at any moment though with how poor my industry is doing. If I get laid off, I'll be out at least a year. And then I will be doing much worse.

[texanwitch]

5. I live cheap now.

I live on a budget and stick to it.

Of course I only have me, one dog and cat to take care of.

If I had kids or major bills that would be different.

[county worker]

6. Our combined incomes rose about 30k in that time period.

We lost 100k equity on our house that we sold. Other than having no savings I'm better off. Savings to come again soon.

[tridim]

7. Decimated IT specialist here.

My salary peaked in 1999 at almost $90k. Last year I made negative $30k (completed contract, unpaid).

Now I can't even get an interview.

[branders seine]

14. bummer.

that mirrors my life from about 2000 until 2008.

Went from six figures to negative five figures per year.

Slow turnaround with a career change back to low five figures on the plus side.

[Ikonoklast]

8. My personal income has increased.

My standard of living...not so much.


No where near the discretionary spending money now, compared to then.

Everything seems to be going towards everyday expenses.

[MorningGlow]

9. 1998-99 was my best year ever, financially

Went to shit after that. We've recovered somewhat, but we're struggling--nowhere near flush.

[Blue_In_AK]

10. My standard of living is much better now

than it was in 2000, but it's because of personal life changes, not anything going on in government.

[walldude]

11. I'm doing better but thats because I went to freelance

same job just I'm doing it smarter..

[branders seine]

12. Is it just me, or is anyone else surprised that almost 30% of DUers

saw their economic fortunes increase during the last 10 years?


15/52 at the time of this posting = 29%

[RaleighNCDUer]

40. Doing better today than in 2000 (or 2001) does not take into account

the devastation of the intervening years.

My pay is slightly better than it was in 2000, but only in the last year have I regained the funds I lost in the crash in 2001 - and that is not really 'regaining' because if not for the crash I'd be FAR better off, instead of only slightly better off. The more recent collapse didn't directly affect me so much except in preventing any salary increase for the last 2 years.

Still, I'd hardly call that an increase in my economic fortune.

[branders seine]

44. Have you seen any estimate anywhere of just how much wealth

has been extracted from the "bottom" 97% or so of Americans in the last decade?

Not to mention, as in your case, the additional opportunity losses.

[Johonny]

57. I'm not sure what to expect

I think a lot of people were still in entry level positions in their 30s and have now been promoted etc... The question is vague enough that those sort of people would be better off than they were a decade ago just entering the work force. I think that's natural progression in the job market with age and doesn't tell you very much. It really depends on the demographic answering the post. Are they mostly in their 40s or mostly retired...

[haele]

13. I made the same income in 2000 as I did last year -

And even if you don't count the additional "have a family now" which in most respects, evens out with being a single homeowner having to pay for my own repairs in 2000, I'm actually not doing as well. We're only paying $100 a month in rent more than what I would have been paying with a mortgage at this time (that is, if I hadn't refinanced the money-pit I used to own to pay for more upgrades and repairs), but the cost of everything basic that isn't associated with the family is seriously up.

I'm actually seeing a household net loss of around $200 a month from where my household income was in 2000.

Haele

[branders seine]

29. that's the current state of America

-sigh-

[onenote]

15. much higher using the defined terms

I earned significantly more last year than in 2000, and while my wife earned less, that is because she voluntarily chose to leave work a few years ago and concentrate on doing lower paying, but more satisfying, work for a charitable foundation. The value of our house, while down from its peak, is still considerably higher than what it was in 2000. My retirement funds are down from their peak, but have recovered to the point where they are higher than in 2000.

[JuniperLea]

16. I'm making twice as much, and living half as well...

Very odd.

[handmade34]

21. You too, huh?

[JuniperLea]

24. Yep... lost of us, I guess...

They say misery enjoys company... nothing personal, but... no.

:)

:hi:

[branders seine]

22. ver american

the top 1% is enjoying what used to be the other half of you living well.

[JuniperLea]

23. Disgusting, isn't it? eom

[HughBeaumont]

31. Right here too.

Making more and keeping way . . . WAY less. We just cannot figure it out. We cannot save. As soon as we even get a start on any kind of emergency fund or try to independently invest, BAM. Triple digit repair of some sort. Tax bill. Birthdays. Basement needs waterproofing. Car needs repaired. School activity.

It. NEVER. ENDS.

[JuniperLea]

56. Vicious cycle, isn't it?

I'm waiting for the other shoe to drop right now! Everything is paid off and I'm starting to save again... the washer and dryer are starting to make noise, and the roof is leaking. My sweet little car is 8 years old and has 150k miles on it now... my prayer is that it holds together until everything else is taken care of!

[handmade34]

17. I am making twice what I did in 2000, but

my quality of life has declined proportionate to my income

Standard of living, of necessity, is much more than money!!!!

[aikoaiko]

18. In 1999-2000 I went from a 10k/yr graduate assistantship to 48K asst. prof. salary

So life seemed really good in 2000 especially since I was single and had no kids.

Since that time I married and had a child who are both wonderful, but have had serious medical issues develop.

Big bills plus merit raised that just cover inflation = eating many more chicken baloney sandwiches now than then.

[guitar man]

19. worse

no raise for going on 3 years now and paycheck has gotten dramatically smaller due to insane increases in health coverage. :(

[Greyskye]

20. Much worse.

Most of the stock value is gone along with the retirement fund. I was laid off from my career of almost 25 years just over a year ago. No job prospects, the California EDD bureaucracy has been messing with me for the past 4 months, and my wife is working two jobs (one of which only because it offers health insurance to our family).

We're definitely living frugally these days.

[frazzled]

25. Family income has increased a fair amount but ...

We've put two kids through private college/university since then, had health bills, etc. So our debt has been a lot higher ....

But I'm not complaining.

[d_r]

26. well

20 years ago I was a beginning graduate student, and now I am an Associate professor with a wife and two kids. The truth is, we still live like graduate students.

[atreides1]

27. Standard of living is much better

In 2000, my wife was still in the USAF and I worked for the county.

[fasttense]

28. If you only read the comments, you would think the majority of people are doing better.

Yet the poll clearly indicates that the majority of DUers are making much lower now than in 2000 49% VS 10, 13, 8 and 20%.

Seems those who are doing well are trying harder to convince us.

[Paper Roses]

30. Way over 40ish. Income and standard of living much lower.

Lost my spouse, laid off. Living bare bones. Waiting for the next catastrophe.

Never thought I'd see the day..........

[Edweird]

32. Way worse.

[mdmc]

33. I earn half of what I did in 2000

and spend 100% more on medical treatment..

[abbeyco]

34. I've had a substantial change for the better, but

I believe it's because I completed an advanced IT degree and am lucky enough to be working in my field.

However, I haven't gone spending crazy - I save a substantial portion of my salary and am able to give more to the groups I believe in. I've also helped out family when in need financially and I feel fortunate to be where I am.

[RobinA]

35. In 2000

I had a Bachelor's, was working a boring corporate job that a 10th grader could do, was making a certain amount of money and had an OK lifestyle. Today I have a Masters, I work at an interesting job that most people wouldn't touch and couldn't do, I make the SAME money I did in 2000 and have a somewhat lower lifestyle.

[abelenkpe]

36. I'm making a bit more

but now have two kids so the standard of living is less in that a little more money plus two dependents (that I adore!) doesn't go very far. Make sense?

Mostly I feel like the past fifteen years have been spent on a treadmill go faster faster faster, getting nowhere.

Does that make me George Jetson? If so, where is my flying car?

[louis-t]

37. I always had $20,000 in the bank in 2000

I had money to play golf, go on trips, I was driving Lincolns. Not brand new ones, but still. Comfortably middle class is what I was. Struggling now to keep my house, may have to file bankruptcy. Thanks, bushie.

[CrispyQ]

38. Even though our income is down significantly, I voted 'somewhat higher.'

I quit my totally crap IT job, where I was working 65+ hours a week, on salary - & not a big salary! I took a year off & upgraded my application programming skill set to include web development. Learned some web design, too. In February I launched my own home based biz as a virtual assistant, offering admin support & technical services on an 'as needed' basis. I expected it would take six months to a year to land my first client. I got my first client two weeks ago & my second one this week! I'm thrilled!

This will be a business I can take into retirement. And since it's virtual, it's portable, so if hubby & I want to move elsewhere, we can. Hubby works a corporate job for health insurance. The goal is to build the biz to the point where we can pay for our minimum expenses & health insurance so he can retire & I can put him to work in the biz! ;)

on edit: What's sad, is that by adding health insurance back into our budget, it will be like having a house payment again. At our age!! We were so hoping that the new health care bill would lower the age of Medicare to 50, 55 at the least!

[bikebloke]

39. 2000 was a change year.

I had moved to another city, looking for work and living off my savings. I've been in the same job I found in the end. It's been a level run since. I try to live beneath my means and save, save and save. Luckily, it's only me. But at times, I tire of my shitty flat.

[hayu_lol]

42. Much worse...

downsized from a 13+ year job. Lost about a third of my income. Now living on SS pension alone. 75...need a part time job I can handle for about 15/20 hours a week.

College grads, returned home, are getting the part-time jobs.

No complaints. Will undoubtedly be gone soon.

[old mark]

41. Much better. Neither of us is working, but we are making more

than we were in 2000. We got very lucky with some old investments, I have SS and a pension from work, and my wife has SS disability and a private disability insurance policy. Wierd how it worked out, but we are not worried about money at all.

mark

[eridani]

43. The difference between active employment and retirement of course lowers your income

There are certain advantages to having more time than money rather than the other way around, though.

[kickysnana]

45. Moved into subsidized housing, Aunt got SSI, & Medicare

It is complicated but my kids got married, moved out. I have been on SSDI since 1991. Aunt had a stroke in 2006 and agreed to apply for SSI, Medicare,we then qualified for housing and our income is low enough for Medicaid to pick up he slack so we are much better off but we do not contribute to a church, travel, or give gifts so it is relative. My kids would say we are still very poor. We qualify for food stamps too but the $10 a month did not justify the extensive paperwork needed to get it so we don't.

We eat healthy food, can buy Avon on sale and can go down for Friday $1 Bingo and have a 1991 wheelchair equipped van so we can get to the doctor and family gatherings.

[KonaKane]

46. It really took a nose dive after 2000, but last year started getting better

Not read anything political into that, mind you....

[boomerbust]

47. "Pitiful, just pitiful"

[BadGimp]

48. In 2000 I was so broke...

.. I couldn't pay attention.

I remember one week I had $60 left. Period. No more unemployment. At least I was living on Venice Beach :)

I took a calculator to the grocery store and bought from a highly detailed list of items intended to sustain me for the max duration. it worked.

I got a job quickly thereafter and ended up starting a dot com with some brilliant young guys I met online in Los Angeles. We all three sold out in the last year for some real money.

Now I'm starting my own dot com. And burning through most of my savings in the process.

anyway, what were we talking about?

[paulsby]

49. much better

we negotiated a very good contract with our employer.

my income has gone up substantially. much better medical, also

i also have increased my net worth by several hundred k (sold a house for a nice profit, dividends, etc.)i also max out my deferred compensation 403(b) every year now

[DailyGrind51]

50. I'm living on half of what I earned in 2000.

[hack89]

51. It's been a good decade. nt

[jeffrey_X]

52. Working for the same company.....making 3 xs as much.

I'm very lucky and I work for a very small company that has stable growth over the past 14 years. I'm the longest standing employee at the company.

[Sheepshank]

53. Quite a bit worse

and my kids are hitting teen years and college is looming (college funds hit the toilet TWICE, along with 401K).....I had hoped to be able to help them with the future careers.

[taught_me_patience]

54. I make 4x what I made in 2000

and with my wife included... we make 10x what I made in 2000 alone. We've had a good decade.

[lumberjack_jeff]

55. Standard of living, 33%. Quality of life 200%.

Could be much worse.

[Bluenorthwest]

58. 40-ish or older is my exact age!

And 2000 was the worst year ever, so much better now. Ask me about 1990, and my income is now a pittance compared, ask me about 1985, again, I make nothing compared. But 2000? This is heaven, that was hell.

[4lbs]

59. It's about the same for me. However, the main difference is that now I'm self-employed.

Back in 2000, I worked for a company.

While my standard of living is pretty much the same in general, being self-employed makes it a little more difficult to budget.

When I worked for a company, I could pretty much count on the same amount of pay every two weeks. Now, while I may make the same amount annually, or even a little more, it's not steady.

I may make $12000 one month, and then go two months with very little or no income. Thus, it's more difficult to budget monthly expenses.

[Lydia Leftcoast]

60. 2000 was the year in which I earned the most I've ever earned in my life

I've never come close to that figure since then.

[prolesunited]

61. If I'm lucky -- and I'm hoping I am --

for the health insurance alone, I will be getting a job that pays what I made in 1997. And I've been so bludgeoned into submission, I will be grateful for it.

[dixiegrrrrl]

62. Living twice as well on half the income of 2000.

In 2000 one of us was in debt, both of us were working in San Francisco, , paying hellacious housing and living costs, commuting costs ( Mr. D. went thru 2 cars just commuting), so our combined incomes were were barely making the monthly nut and paying off debt,
we were paying into retirement funds, to make up for the loss of the 1999 crash.
In 2003, debt paid off, we started seriously saving and planning a move.
2005 we sold out, moved across country, bought a lot of house for about 1/4 of Ca.
prices, had a moderate savings account, retirement funds, both of which we pulled out of the market in 2007, so did not lose them in 08.
Now we get Soc. Sec. , about 1/2 as much per month as we made working, but have very low
expenses, no dependents.
If we had not moved out of Ca. we would be on the street.

If Soc. Sec. blows up, we are screwed.

[Sisaruus]

63. My personal income doubled but my household income stayed the same.

I got divorced in 2006 and I lost 50% of the household income. We always maintained separate finances and didn't make any claims on each other's income, investments or savings - which was a good thing since I had more. And the house was always mine from my pre-marriage days. So I remained financially stable in spite of the temporary loss of income. Job changes and raises have since brought me back up to pre-divorce household income levels.

I am much happier being single so I would say my quality of life has improved considerably.

[NNN0LHI]

64. I make a lot less now that I am retired but I spend a lot less now too

Watch what I spend my money on a lot closer now too. I don't have the luxury of being able to get a little low on money and then be able to catch up with the overtime in a few weeks any more so I have adjusted my spending habits.

I have less money now but I have a much better life now that I am retired.

I don't miss having to be at work every day one bit.

I am not looking for nor would I accept any job.

Don

[MissB]

65. Much better.

I spent the Bush years as a stay at home parent. Dh's salary more than doubled during that time period and our investments didn't take much of a hit in the downturn.

I'm back working now, and will make almost 20% more this year over last year because I've gotten my professional registration. My salary goes to savings, and that's 25% of our total income. That's on top of what we already save, and doesn't include 401k contributions. Dh has always contributed the max, and I'm at about half of where I should/could be in terms of contributions.

I'd say we were helped and hindered by the housing boom. We wouldn't have a mortgage if we had stayed put, but then again moving opened up a lot of doors too.

I'm going to go with just - a lot of luck

[proud patriot]

66. much lower ,,,

:-(

[demtenjeep]

67. We make more money

have less to spend :shrug:

[gleaner]

68. We didn't ...

have to choose between food and medicine in 2000. Now it is a tossup sometimes.