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Started By
Message
Americans Say They Need to Earn $128,000 to Feel Financially OK.
Posted on 1/18/22 at 7:58 pm
Posted on 1/18/22 at 7:58 pm
bloomberg.com/news/a...
This survey was conducted by The Harris Poll on behalf of Empower Retirement and Personal Capital from March 23 to April 5, 2021. We surveyed 2,005 people, all of whom were 18+ and living in the U.S. The online survey has a +/- 3% margin of error and a 95% confidence level.
Respondents were screened for age, household income, and investible household assets with an equal male/female split.
Those participating had a minimum age of 40, a minimum $50,000 annual household income before taxes, and a minimum $100,000 combined household net worth, excluding primary residence.
This survey was conducted by The Harris Poll on behalf of Empower Retirement and Personal Capital from March 23 to April 5, 2021. We surveyed 2,005 people, all of whom were 18+ and living in the U.S. The online survey has a +/- 3% margin of error and a 95% confidence level.
Respondents were screened for age, household income, and investible household assets with an equal male/female split.
Those participating had a minimum age of 40, a minimum $50,000 annual household income before taxes, and a minimum $100,000 combined household net worth, excluding primary residence.
42
Posted on 1/18/22 at 7:59 pm to BlueShield
My butler makes more than that.
Posted on 1/18/22 at 7:59 pm to BlueShield
Yeah, but a majority of the country also said their favorite hot sauce is some brand of Siracha.
Posted on 1/18/22 at 8:00 pm to BlueShield
quote:
128,000 to Feel Financially OK
Hardly keep the boat maintained with that
Posted on 1/18/22 at 8:01 pm to BlueShield
Only fans
Posted on 1/18/22 at 8:01 pm to BlueShield
quote:
Those participating had a minimum age of 40, a minimum $50,000 annual household income before taxes, and a minimum $100,000 combined household net worth, excluding primary residence.
Those criteria strike me as extremely arbitrary.
Low-income people who suddenly piled up a bunch of wealth recommend a high income.
This post was edited on 1/18/22 at 8:03 pm
Posted on 1/18/22 at 8:01 pm to BlueShield
Big difference in Greenville Mississippi and Malibu
Posted on 1/18/22 at 8:04 pm to BlueShield
They aren’t wrong. Let’s assume a family of four.
$1,500 mortgage
$2,000 in childcare
$1,000 in food
$500 in car notes, insurance, and maintenance
$300 in utilities
We are at $5300 before anything. Before retirement, before clothes, activities, taxes, etc.
$1,500 mortgage
$2,000 in childcare
$1,000 in food
$500 in car notes, insurance, and maintenance
$300 in utilities
We are at $5300 before anything. Before retirement, before clothes, activities, taxes, etc.
Posted on 1/18/22 at 8:04 pm to BlueShield
That’s an oddly specific sample group.
I know people that are happy and secure with 75k annual combined.
And I know a few people pulling down bank that are nervous wrecks all the time and sprinkling Lexapro in their Starbucks.
It’s all relative to your responsibility and priorities.
I know people that are happy and secure with 75k annual combined.
And I know a few people pulling down bank that are nervous wrecks all the time and sprinkling Lexapro in their Starbucks.
It’s all relative to your responsibility and priorities.
Posted on 1/18/22 at 8:04 pm to BlueShield
Well hell, I guess we need to get to working on raising that minimum wage by a lot.
Posted on 1/18/22 at 8:05 pm to BlueShield
That’s all relative to where you live.
Posted on 1/18/22 at 8:08 pm to BlueShield
Seems like no matter how much I make, I need about 10% more to be secure.
Posted on 1/18/22 at 8:14 pm to BlueShield
Better hope thar 128k comes with health insurance. Have fun on the marketplace with your 28k per year premiums with a mid deductible.
Posted on 1/18/22 at 8:16 pm to BlueShield
I'm not taking a pay cut for anybody
Posted on 1/18/22 at 8:18 pm to BlueShield
A lot of “x” factors there.
I have 7 kids. 128k is a very decent living for a single dude but for me it would be a little struggle.
Location is also a big player.
I have 7 kids. 128k is a very decent living for a single dude but for me it would be a little struggle.
Location is also a big player.
Posted on 1/18/22 at 8:18 pm to BlueShield
I remember when this was like $70k
Posted on 1/18/22 at 8:26 pm to BlueShield
Maybe 20 years ago that was OK...
Posted on 1/18/22 at 8:28 pm to BlueShield
I feel like a lot of those folks, including many on this board, don't manage their money very well.
Not too far in the past, I was single, paying a mortgage on a new 3 bed, 2 bath house, had two vehicles that I paid cash for (used but well maintained), and had enough extra to do whatever I wanted (within reason) on $45k a year. I was living about 30 miles outside of Springfield, MO at this time.
OT poor I know but life was good in my opinion, I didn't feel deprived of anything.
Not too far in the past, I was single, paying a mortgage on a new 3 bed, 2 bath house, had two vehicles that I paid cash for (used but well maintained), and had enough extra to do whatever I wanted (within reason) on $45k a year. I was living about 30 miles outside of Springfield, MO at this time.
OT poor I know but life was good in my opinion, I didn't feel deprived of anything.
Posted on 1/18/22 at 8:31 pm to BlueShield
Shows there's no real poverty here so they have to pretend.
Posted on 1/18/22 at 8:32 pm to BlueShield
A study in the early 2000s, asked a similar question, how much money would you have to earn to feel rich, with an unexpected outcome.
No matter what tax bracket they were in, over 80% listed an income that was double what they were currently earning.
No matter what tax bracket they were in, over 80% listed an income that was double what they were currently earning.
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