What's the minimum annual salary to live in some kind of luxury?

Question

I heard that even $120,000 isn't enough because people still don't have much left after expenses.

Answer 1

You can build wealth at much less than $120K, as long as you stay within your means, or lower.  Most people max out and buy the most house they can afford, and the most car, etc.  It's all relative.  If you spend what you bring in, you won't build wealth.  Just spend less than what you bring in, learn ways to be frugal.  My aunt is very wealthy and still goes to yard sales!

Answer 2

First let me correct answers guru who says:

Your earnings - your spendings = your lifestyle.

The correct statement is:

Your earnings - your spendings = your savings.

and

Your spendings = your lifestyle.

The answer to your question is more difficult. You need to define "luxury". Talk to a starving person in Africa and the answer is three square meals a day and a roof over their head. Other people would like a nice car and a nice vacation each year. Others want a private jet. Where do you fit in?  

Answer 3

It's hard to give a blanket answer to your question.  Following are very interconnected:

Your earnings - your spendings = your lifestyle.

It's very simple, but not that easy./