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$75K? $100K? $125K? over $150K?
Are you saying for a single person or a typical family of 4?
Kind of just a guess but I think $100k in my area would be considered "good" for a family of 4. Not great, but good as in
adequate for decent living. Really good would be $125-$175. Great would probably be in the $175k+ range. All my opinion
based on cost of living in my area and are just opinions.
Edit...I just looked up the median house cost in my county and its $185k if that means anything.
DancingFire, What does "good" mean? Middle class? Upper Middle Class? What is your definition of good?
In our area a decent middle class income is (purely a guess) $250k
Upper middle class over $450K
But just a guess. I haven't googled any numbers so I could be totally wrong.
Your definition of what you mean by good could help us share more accurate numbers.
Retired with no kids. How much with it cost to live comfortably in your area?DancingFire, What does "good" mean? Middle class? Upper Middle Class? What is your definition of good?
Entry level interns make 70-90k, average employee around 150k.
A local city has tried to get low income housing for combined household incomes of 250k and less.
I'm not kidding.
So I guess "good income" would be 300k+?
I'm considered low income.
Please don't take this as judgemental in any way because it's not intended as such but half a million to a million dollars are year to just be 'comfortable'??
Personal expectations of comfortable are, of course, key considerations and relate to surrounding social norms... but really??
What on earth sort of jobs pay that sort of money?
Over here in the UK, the average wage is currently about £26500 a year, so assuming GBP1 to USD1.30, that's around USD34500 per year.
Obviously that's an average of the Mrs Miggins of this world working in pie shops and the Jerry Maguires manipulating numbers on a screen in the financial sectors in the City, but a 'professional' in an office-based role is likely to earn anywhere between £18k as a new starter and perhaps £100k in a senior management role (excluding bonuses).
To earn what is the equivalent of £385k-£770k, you would likely have to be a senior partner in a law firm or a trader bringing in a considerable amount of profit to a bank, for example.
To illustrate this point, I reference the income percentiles collected by the government themselves:
https://www.gov.uk/government/stati...1-to-99-for-total-income-before-and-after-tax
As you can see from the excel file downloadable from that page, the 99th percentile income for 2014-15 is £162000 before tax, so around USD211000. I would say that anyone earning £400k-800k a year is therefore likely to be in the 99.9th percentile!
I know PS is perhaps a special example, where those lucky enough to be at the top of the earning tree (or with partners who are) can congregate in a safe place to drool over the shiny things that such disposable income can buy (and we all love to look at them, regardless of our own income ), but sometimes I am not surprised that the placard-waving socialists are out in the streets, banging on about the '1%ers'. After all, given some families in London (one of the most expensive cities in the world to live) are living off one persons income, perhaps as little as £20000/USD26000 a year or less (or benefits to an equivalent level) the suggestion that one would need twenty times that amount just to be 'comfortable' might grate a little on them... lol
To be clear, I'm all for socially responsible capitalism and being rewarded for one's efforts, but this world does seem somewhat (completely?!) out-of-kilter if to live a comfortable life in a nice area seemingly costs fourteen-and-a-half times the national average wage (assuming $500k needed and $35k average).
Anyway, meandering rant/puzzled thoughts over lol
I need to move to wherever you live if being 'average' would earn me over £100k a year...