A question by : Maybe 10 or so years ago, $100K was a lot, but today, I think it should be the minimum salary people should be making just to pay for rent and food. Anything lower than that is poverty, in my opinion. If you want to get married and have children, then you need to make a lot more than that. In this day and age, $100K is nothing due to the high prices out there, especially if you want to live in NY. So do people really still think $100K is a good, high salary??
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There is no doubting that a salary of $100,000 is really good, but what you do with it is what matters. In the USA, salaries over $80,000 are regarded as middle class. In America, the median gross household income for 2021 was $53,490.
There is no doubting that you are in excellent financial shape if you are a single person making $100,000 a year and don’t have any dependents (spouse, children). However, if you are the sole provider for a family of six and have to make all of the monthly payments, your income must be sufficient. If you earn $100,000 and are single, you are most likely in the top 10% of earners. If you handle your money well, you can have a nice automobile, purchase a nice house or rent a nice apartment (aside from in major cities), go out to dine whenever you want.
$100,000 is the potential salary (in current dollars) you could earn after working in that business for 10 to 15 years. Others, such as doctors and attorneys, perform better. Others, most notably teachers, don’t fare as well.
To me, $100,000 represents the attainable sweet spot between not needing a very expensive school, not needing to work many extra hours, and being able to live as well as I’d like.
Vaor
“That is not high at all. My welfare benefits and section 8 housing is much higher than $100.000 Federal Reserve Notes. On the west or east coast it’s not enough.”
“A single person could live well on $100,000, even in an area where the cost of living is high. Half the household incomes in the U.S. are less than $62,000 so you are doing okay if you make $100,000..”
“I live about 2-3 hours from SF and that kind of income would be very good to live a rather comfortable life style. According to the Census.gov page, the median income in my area is around $50k/year.”
$100K as a household income is in the 70%ile. That is earns more than 70% of the households in the USA. The median individual income is only about $36K and I think most households have more than one income.
That’s one reason people have fewer children.
In NYC and LA, $100K is not a lot in salary. In most of the country it is.
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