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Started By
Message
$100,000 income: No big deal anymore
Posted on 7/25/17 at 10:36 am
Posted on 7/25/17 at 10:36 am
100k is EZMODE
After doing some quick research on the percentage of population households over or at 100k, I came across this article and it got me to thinking why is it so hard to achieve this mark.
Two teachers in Dallas would hit this mark.
An Engineer with a little time in industry hits this mark.
Anyone in the professional medical field hits this mark with a little time invested in industry.
In fact, a 2 professional income household hits this pretty easily.
Any trade (electrician, welder, HVAC) can get pretty close if not over.
So it begs the question OT. Why only 20% (highest percentage I could find) of the country manages to his this household mark??
After doing some quick research on the percentage of population households over or at 100k, I came across this article and it got me to thinking why is it so hard to achieve this mark.
Two teachers in Dallas would hit this mark.
An Engineer with a little time in industry hits this mark.
Anyone in the professional medical field hits this mark with a little time invested in industry.
In fact, a 2 professional income household hits this pretty easily.
Any trade (electrician, welder, HVAC) can get pretty close if not over.
So it begs the question OT. Why only 20% (highest percentage I could find) of the country manages to his this household mark??
35
Posted on 7/25/17 at 10:37 am to 50_Tiger
Is the article discussing personal or family income of 100k/year? That would make a huge difference.
Posted on 7/25/17 at 10:38 am to 50_Tiger
That's 20% of the people who actually try to work so it's not as low as it sounds.
Posted on 7/25/17 at 10:38 am to 777Tiger
maybe if you live in California
Posted on 7/25/17 at 10:39 am to 50_Tiger
$100k for a household (assuming family) is not that much
Posted on 7/25/17 at 10:39 am to 50_Tiger
You have to actually want to do it.
Posted on 7/25/17 at 10:40 am to 50_Tiger
100k household income is not that much if you have a family
Posted on 7/25/17 at 10:40 am to 50_Tiger
quote:
After doing some quick research on the percentage of population households over or at 100k
Lot of difference between household income of 100k and individual income of 100k
Two college grads should have zero problems combining for 100k by 30
Posted on 7/25/17 at 10:40 am to kingbob
quote:
Is the article discussing personal or family income of 100k/year? That would make a huge difference.
The article uses the term household. So I am going to assume in general household = all salaries included.
Posted on 7/25/17 at 10:41 am to yellowfin
quote:
Lot of difference between household income of 100k and individual income of 100k
Two college grads should have zero problems combining for 100k by 30
Oh I agree with all that. Hence why the 20% figure is alarming.
Posted on 7/25/17 at 10:42 am to 50_Tiger
quote:
Oh I agree with all that. Hence why the 20% figure is alarming.
Probably not as many dual income families out there as you would think
Posted on 7/25/17 at 10:43 am to yellowfin
Household 100k doesn't stretch very far. Some do it well, and I applaud it, but it also depends on how you live (and where you live).
In an age where urban areas are being revitalized, living in a medium or large city on 100k is going to be a challenge in a lot of places, if not virtually impossible.
Honestly, depending on what you need to live at a certain level in some places (basic home prices for decent neighborhoods, private schools, taxes), 200k doesn't go that far.
In an age where urban areas are being revitalized, living in a medium or large city on 100k is going to be a challenge in a lot of places, if not virtually impossible.
Honestly, depending on what you need to live at a certain level in some places (basic home prices for decent neighborhoods, private schools, taxes), 200k doesn't go that far.
Posted on 7/25/17 at 10:43 am to 50_Tiger
quote:
So it begs the question OT. Why only 20% (highest percentage I could find) of the country manages to his this household mark??
I wonder how many single income families would hit the mark if they had 2 incomes
Posted on 7/25/17 at 10:43 am to jdeval1
quote:
100k household income is not that much if you have a family
I agree. A husband and wife who are both public school teachers easily make that with summers off.
Posted on 7/25/17 at 10:44 am to 50_Tiger
I agree. $100,000 is not a whole lot of money. it may keep you afloat and allow you to do a trip a year. but you are not getting wealthy off of it.
you need $300,000 a year for many years to build personal wealth.
you need $300,000 a year for many years to build personal wealth.
Posted on 7/25/17 at 10:44 am to 50_Tiger
Because a lot less people in this country actually have the skills or education to reach that level of income.
Also, you have families that make enough money, even being below $100k/year, for a spouse to stay home with the kids.
Also, you have families that make enough money, even being below $100k/year, for a spouse to stay home with the kids.
Posted on 7/25/17 at 10:45 am to 50_Tiger
quote:
So it begs the question OT. Why only 20% (highest percentage I could find) of the country manages to his this household mark??
Because it isn't as easy as you make it out to be.
ETA: And for a great many people, less than $100k is a very liveable number. Not everyone desires extravagant lifestyles, so they don't go out of their way to make it.
This post was edited on 7/25/17 at 10:47 am
Posted on 7/25/17 at 10:45 am to 777Tiger
quote:
$100k today is the $30k of the 80s
How much did a house cost in 1980?
Posted on 7/25/17 at 10:45 am to Pettifogger
quote:
Household 100k doesn't stretch very far
It isn't much at all
I live in a very low cost of living city and would struggle
This post was edited on 7/25/17 at 10:46 am
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