Thank you, contextless screenshot, very cool.
Yeah I wonder what “comfortably” means in reality… Those numbers look absurd from European perspective
its because of the cost of housing
Real median househould income is $74,580, individual is $40,480. Not even half of what it takes to live comfortable
I make half the individual median… :/
Yes
This is simplistic to the point of being misleading.
First, your income alone doesn’t matter. What matters is income relative to the cost of living in your particular location. You can try to estimate “real” income at the state level, though even within each state there can be significant variation by region.
Second, how do you define “comfortable?”
they define it in the paper, its not having to use more than 50% of your income for housing.
Right? I’m close to half that for a household income and we take multiple vacations every year, everyone is well fed and happy, and we can afford birthday/Xmas presents for the kids and all nibblings.
Plus we’re putting away a grand or two per month.
Agree, it’s wildly simplistic. The variation in the cost of living is huge, even within pretty much extra state. In Modoc county, California, the median home price is $230k. I’m Santa Clara county it’s $1.5m. Taking an average across the country is useless unless you just want to show very gross change from one year to another, and even that might mask changes in different directions in different areas.
Every time I think “man, I’m making a pretty good salary”, I see things like this and go “Oh. Not THAT good apparently”
The trick is to have no kids and 2 monies. I’m super comfortable dink but feel like I’m missing out in the kid thing. Oh well.
I feel validated in my discomfort
That’s the 60th percentile according to this site.
thank you so much for adding this. i bet this is earth shattering for a lot of people. and then maybe some context for the other part still wondering why we’re talking about it
