the first time I got a bonus that big, $240k, I thought it would be life changing. the gov took $100k in taxes. I paid off my car $20k. then when I really thought about it there wasn’t much I could do.
It was not a down payment on a house in LA/SF/NYC. it was not enough to start a company and hire people. If I’d changed my life style to be like a college student and live with roommates then it might have given me 2-3 years of student lifestyle but I was 34 and not prepared to go back to student lifestyle
To be honest it was super disappointing. Of course getting a $240k bonus is a privilege. My only point was it didn’t change my life like I thought it would.
And, that was 25 years ago. today, even a million ($600k after taxes) in those 3 cities won’t likely change your life. Maybe you could put a down payment on a house or pay for your kids college tho but it not the freedom I thought it would be
Depends where you live. Where I'm from $240k would buy you a really nice house with lots of land, and you'd have money left over.
>>won’t likely change your life. Maybe you could put a down payment on a house or pay for your kids college tho but it not the freedom I thought it would be
How is being able to put a down paymenent on a house or being able to send your kids to collage debt-free not life changing?
> How is being able to put a down paymenent on a house or being able to send your kids to collage debt-free not life changing?
Because neither of those are going to change your daily life that much? It simplifies a thing or two, but neither of those things are life-changing.
I can only assume you'd say so if you were able to do either of those things in the first place, so yeah, it doesn't feel life changing. It's like winning a car in a radio lottery when you already had a car - yeah pretty cool, but not life changing.
There's a lot of people who can't even imagine ever being able to put down a deposit on a house or to send their kids to collage debt-free. With an amount of money like that you can go from being trapped in a rent hell forever to actually purchasing your own house. Or you can give your kids the education you want to give them. They are major, life changing impacts. Again, to describe it as "simplifes a thing or two" to me implies that you could do them even without this money in which case yeah, it changes very little.
Property taxes are very high thanks to prop 13. 250k in California is like 30k in states like Texas or Illinois, enough to make it a great year but not life changing.
I think you’re exaggerating a few things, and forgetting that even if expenses like housing are higher, not every cost scales with income. The price of many standard goods are very similar. Not to mention that for example if you have x% of your income left over after expenses, that’s still way more money in one situation over another.
You’re sounding very out of touch to be honest.
Your only definition of life changing is changing your day to day life? That’s an odd way of looking at it. Going from renting to a home owner is a BIG bucket list life changing item for most people
Debt-free college is life-changing for your kid(s).
You live in Poland? Country or City? Google estimated a 60 square meter 2br condo in Warsaw costs an average of $260k. So a $240k bonus, after paying taxes, leaves you with $145 in Poland, so no, you could not likely get a condo in Warsaw with a $240k bonus. I'm sure if you live well outside a major city that changes.
And, the bigger point is, even if you could afford a house, is that life changing? Would your life style change because you bought a house? Or, would it just basically be the same life style as before except you now own a house?
To me, life changing amount of money means an amount that changes my life style. That could mean, an amount that lets me retire and never work again. Or an amount that lets me quit and start my own company. Or quit and go back to school. Or quit and travel for a few years. Something alone those lines, having my "life change". Buying an apartment but having my life remain the same, same job, same hours, same activities, is not "life changing" to me.
I fully admit a $240k bonus ($140k after taxes) it could be life changing for others. If I'd been 19yrs old when my living expenses were $20k year, then $140k in the bank would have let me go ~7yrs without a job. Unfortunately my 19yr old self would have probably blown 30% on a car, 20% on travel or other things, 10-20% on random equipment like a new gaming rig or cameras and lens and then in a few months I'd be back where I was. And, even if I did manage to not blow it and do the 7 years, what else could I have done. Could I started a company and hired people? How many could I afford to hire and for how long? Would it be enough to not just lose the money or would have needed more than $140k?
Why pick Warsaw? It's like using London as an example when someone lives in the UK - it's not representative of a country. I'm from the South of Poland, 145k after taxes gets you a big house with plenty of land, not a condo.
>>Buying an apartment but having my life remain the same, same job, same hours, same activities, is not "life changing" to me.
That's a weird definition,most people would consider not having to worry about housing pretty life changing. But you know, you're free to have any definition you want. "Having enough money to retire and not work" isn't the goal for all of us. I'd rather keep working and making more money, but not having to worry about a mortgage would be pretty life changing(for me).
Owning a house does not mean you stop worrying about housing. Property taxes, maintenance, insurance, HOA fees etc add up to rent.
I feel like we're just going to keep moving goalposts further and further and further. Home ownership is the dream of a lot of people - being able to buy a house outright or just put a deposit down is life changing for some people. I assume for a lot of people on HN it really is that 150k is nice but not life changing - I appreciate that there are a lot of very well paid people here.
As for worry about housing - when renting the landlord can kick you out almost at any time - you live in a constant fear that due to someone's whim you might have to move. If you own a house(even with a mortgage) that is generally lot less likely to happen. But honestly, I don't know why I'm explaining this.
I guess it perspective and where you are in life plus your location in the world, I would have to pay 50% tax on it so well a down payment could be it but I would still have to affort the house.
I have a hard time seeing it as life changing for me, having a decent paying job (not silicon valley developer scale) in a expensive country. Ofc if I was having a low paying career without that many perspective my outlook might differ.
I dont live a place where you pay for your kids being in college so I cant speak for that part.
225k in 2025 dollars is life changing for anyone in the middle class of income. The reason you were unable to do anything with it is because you were already earning too much.
$240k bonus was double my yearly salary.
I think you probably know people who've gone though something like this via inheritance. A parent dies, leaves them $200-300k You don't see their life change at all. Of course most people don't inherit that much but enough do that you probably know some of them or your family knows some of them and yet nothing noticable changed in their life.
Presumably people discovering these bugs are not in the middle class of income.
For you maybe. For someone in debt or who has never ever had a financial safety net, the amount of stress relief from finally having a bit of safety money behind you is mental.
> it was not enough to start a company and hire people.
It is in Taiwan, Vietnam, Indonesia, Cambodia...
why comments about taxes get gray here? is it bad behavior in US to discuss taxes?