On another board people were saying that it's very hard to have a nice life on $50k or less.
The median household income in the US (median means that exactly half make less and half make more) is $44k. So over half the households in the US are not living a nice life?
I just can't wrap my mind around that. We just now make $50k. This is the first time in our lives that we've had this much income. Yes, some years have sucked (the year that neither of us had jobs for 3 months and then moved 750 miles comes to mind). But for the most part, we've always had a good life.
We have more CC debt than I'd like. Most of it is from that year mentioned above, but we did have some before. So, technically we weren't living fully in our means. But, we've always had a positive net worth. If we had had to, we could have paid off all of our debt.
I told those people they were full of it. Half the people in the US are not living bad lives. Some people may be feeling that they don't have enough "stuff" but they have all their needs met.
I think it takes a lot of hubris to say that you HAVE to have more income than over half the nation to have a good life.
Minimum income required?
April 2nd, 2006 at 06:50 am
14 Responses to “Minimum income required?”
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April 2nd, 2006 at 02:53 pm 1143986029
April 2nd, 2006 at 03:53 pm 1143989629
April 2nd, 2006 at 03:56 pm 1143989811
April 2nd, 2006 at 03:58 pm 1143989939
Obviously we are going to have to make a few changes, but we're not going to fall into poverty and misery. Now, I'll be the first to say that it would be different if we were going to be trying to love on 20k or 25k but even so...
How many of the things we think of as necessary to a "nice life" are really just add-ons that we wouldn't even miss particularly if they were gone? I mean, a good meal at a fancy restaurant is wonderful, but do you need two of them a week? A brand new car every three or four years is great, but is every five or six years really so terrible? It's nice to go to a movie but is the movie any better at 7pm than it would have been at 5:30?
I may feel very different about this six or seven months from now, but right now I feel like a lot of folks have their priorities a little mixed up.
April 2nd, 2006 at 04:08 pm 1143990539
Make people believe they have to make more so they can spend more..and every one wins...
the merchants win, because in increases spending...
the auto manufacturers win...we have to have a nicer car so everyone knows we make lots of money...
the fast food industry wins...who has time to cook...
the doctors win... all the stress and junk food insure this!
the IRS wins...oooh...lots of income fromt this one!!!
I could go on and on, but I will stop at this one...
the bankruptcy courts win....(the numbers speak for themselves)
the lawyers win, because we all know how many divorces are out there
So the great minds behind this conspiracy decided it needed a catchy name...
Let's call it "keeping up with the Jones'"
(disclaimer * this response was in no way poking fun at two income families...rather the idea that it takes 50K to live a good life)
April 2nd, 2006 at 07:37 pm 1144003039
April 2nd, 2006 at 11:09 pm 1144015759
I live well on less than $50,000. Sheesh.
I'm with Ray: it is a conspiracy!
April 4th, 2006 at 02:38 pm 1144157913
Im in Boston and it's impossible (for a family of 5) to live on less than $35,000... $50,000, yes we can live comfortably on less than $50,000 but we can't go much lower than $35, 000...
April 5th, 2006 at 09:12 pm 1144267924
I guess if one's housing expenses are a lot less, it might be different.
April 5th, 2006 at 09:47 pm 1144270079
April 7th, 2006 at 03:51 am 1144378308
April 8th, 2006 at 01:36 pm 1144499778
April 10th, 2006 at 10:43 pm 1144705411
Living well is a lifestyle choice for many. Some make 100,000 and live hand to mouth worrying about how to stay a step ahead of creditors. Some folks make 40000 or less and live well. The difference is lifestyle and what is important in their lives. You canbe quite happy and live on less than 50K a year!
April 18th, 2006 at 10:47 pm 1145396836
I live on less than 12K AU a year!
I find that I have a lifestyle that I can do what, when I wont too and still save money too! It's choices that you make now and what you owe from past spending sprees. That's the problem.