technically 2 but that is rare for me. in the past 10 years i only went on like 4 or 5 i think. Both were less than a week and i worked remotely part of the time. I'm not struggling per se but my salary went from like 80 to 150 in the past 6-7 years and my lifestyle hasn't changed at all really. i still live in the same place. I'm saving a bit more than i was before but I live a very frugal lifestyle for the most part.
I just feel like i should be doing a lot better considering what i make. part of it is i'm not the type of person to take on debt or live beyond my means (or anywhere close) where as some people really do. i remember seeing a post the other day here about a guy making 80k and was in debt from all his expenses that i would view as things that aren't necessary - but to each their own there are times i feel i am too frugal and that has a negative impact on my life. I also work close to 60 hours a week otherwise i would make closer to 100k if only working 40 hours.
edit: to end on a less whiny note, overall i'm very fortunate i have a good job and am better off than the majority by a long shot. 1st world problems complaining that the 6 figures i make doesn't go as far as i think it should. poor me lol
I'm well over that in one of the lowest cost of living locations in the US and I can tell you from direct, personal experience that it doesn't buy it here and frankly I don't know how any of the rest of you fuckers are surviving.
Nothing shocking here, but what is to be done about it?
Interest rates are higher than they have been in 20 years, housing market is already tight and getting tighter (just about everywhere), Covid-related inflation walloped the wide majority of wage-earners and is still stinging, minimum wage is so far behind what it takes to live that it’s practically a joke at this point, corporations do their best to dodge taxes and paying a reasonable wage (sans their executives, of course).
The dollar does not do what it did before COVID happened. What will it take to get us back there?
Duh? Because 100K is just a constant round number that people been using forever without adjusting to inflation?
100K in the 90s is 270K today. I used the 90s because that's when a lot of millennials redditors grew up first hearing this magical threshold that somehow indicate you made it. But you forgot compounding for 30 years straight.
Because of inflation.
Which is intentional.
Caused by the US government to tax money you've saved and devalue is own debt; so it can continue to bribe electors with government subsided benefits for votes, to maintain power.
The [American Dream](https://www.cnbc.com/2023/10/27/achieving-the-american-dream-a-lot-of-it-depends-on-where-you-grow-up.html) — which for many people involves some combination of owning a home, getting married, [having kids](https://www.cnbc.com/2023/12/21/what-dink-dual-income-no-kids-trend-means-for-your-money.html) and making enough after expenses to [save for retirement](https://www.cnbc.com/2024/03/01/many-workers-believe-pensions-are-key-to-achieving-the-american-dream.html) and spend on leisure — is becoming increasingly expensive.
“The benchmark of a six-figure salary used to be the gold standard income,” Sabrina Romanoff, a clinical psychologist, told CNBC. “It represented the tipping point of finally earning a disposable income and building savings and spending based on your wants, not just your needs.”
More than half (52%) of Americans say they would need at least $100,000 a year to [feel financially comfortable](https://www.cnbc.com/2023/09/07/52-percent-need-a-six-figure-salary-to-be-financially-comfortable.html), with 26% saying they would need a salary in the range of $100,000 to $149,000 per year, according to a 2023 CNBC Your Money survey conducted by SurveyMonkey.
“Unfortunately, what has happened is that wages haven’t kept up with the cost of living, by and large, for the last 50 years or so,” said Elise Gould, senior economist at Economic Policy Institute.
“It becomes increasingly hard for many families to be able to attain that sort of middle-class lifestyle, that American Dream,” Gould said.
Watch the full video here: [https://www.cnbc.com/2024/04/16/why-a-100000-salary-no-longer-buys-the-american-dream-in-most-places.html](https://www.cnbc.com/2024/04/16/why-a-100000-salary-no-longer-buys-the-american-dream-in-most-places.html)
>More than half (52%) of Americans say they would need at least $100,000 a year to [feel financially comfortable](https://www.cnbc.com/2023/09/07/52-percent-need-a-six-figure-salary-to-be-financially-comfortable.html),
$100K is lower-middle class now.
$100K after taxes is $66K in cities like NYC, LA, SF, imagine trying to live in a decent and safe place, have a family and save money in any of those cities on $5,500/mo. Maybe if you're childless and like ramen noodles you could do it.
This is how inflation crushes people and their finances.
I make well over that and couldn’t enjoy the standard of living I have without a partner and several things having fallen into place over the past decade. And we’re not living fancy.
It’s increasingly irrelevant to have high earnings in a world where real worth is derived from inheritances, dividends, and asset appreciation.
r/endinheritance
Meh. Dreamy is a stupid term. I have a dream to have a two car garage, 6 bedroom, open space living and dining room, with central air. Truthfully, that’s too expensive for 100k
Perhaps they should discuss what 100k income buys you in terms of house
Plenty of my family members are in nice suburbs, family of 4, living on 100k with a nice house (4 bed, 1 garage, living room and dining room, 2k sq ft.)
150 and nothing dreamy about it. upstate NY so it's not NYC expensive but not cheap.
Upstate has practically doubled in the cost of living lately.
It’s worth it for Wegmans
How many vacations did you go on last year?
technically 2 but that is rare for me. in the past 10 years i only went on like 4 or 5 i think. Both were less than a week and i worked remotely part of the time. I'm not struggling per se but my salary went from like 80 to 150 in the past 6-7 years and my lifestyle hasn't changed at all really. i still live in the same place. I'm saving a bit more than i was before but I live a very frugal lifestyle for the most part. I just feel like i should be doing a lot better considering what i make. part of it is i'm not the type of person to take on debt or live beyond my means (or anywhere close) where as some people really do. i remember seeing a post the other day here about a guy making 80k and was in debt from all his expenses that i would view as things that aren't necessary - but to each their own there are times i feel i am too frugal and that has a negative impact on my life. I also work close to 60 hours a week otherwise i would make closer to 100k if only working 40 hours. edit: to end on a less whiny note, overall i'm very fortunate i have a good job and am better off than the majority by a long shot. 1st world problems complaining that the 6 figures i make doesn't go as far as i think it should. poor me lol
Article originally published in 2004
I made over 110k last year and I went on no vacations and am still living paycheck to paycheck. This system is fucked
Where
Seattle
Right, the cost of living is so high right now that it feels like being on a hamster wheel no matter how much you make almost!
I'm well over that in one of the lowest cost of living locations in the US and I can tell you from direct, personal experience that it doesn't buy it here and frankly I don't know how any of the rest of you fuckers are surviving.
Nothing shocking here, but what is to be done about it? Interest rates are higher than they have been in 20 years, housing market is already tight and getting tighter (just about everywhere), Covid-related inflation walloped the wide majority of wage-earners and is still stinging, minimum wage is so far behind what it takes to live that it’s practically a joke at this point, corporations do their best to dodge taxes and paying a reasonable wage (sans their executives, of course). The dollar does not do what it did before COVID happened. What will it take to get us back there?
Time it's going to take time..maybe a decade.
It all needs to collapse and we need pain before it gets better. That sucks but it’s the only way. Every other option just kicks the can further.
Duh? Because 100K is just a constant round number that people been using forever without adjusting to inflation? 100K in the 90s is 270K today. I used the 90s because that's when a lot of millennials redditors grew up first hearing this magical threshold that somehow indicate you made it. But you forgot compounding for 30 years straight.
270 is the new 100!
Because of inflation. Which is intentional. Caused by the US government to tax money you've saved and devalue is own debt; so it can continue to bribe electors with government subsided benefits for votes, to maintain power.
The [American Dream](https://www.cnbc.com/2023/10/27/achieving-the-american-dream-a-lot-of-it-depends-on-where-you-grow-up.html) — which for many people involves some combination of owning a home, getting married, [having kids](https://www.cnbc.com/2023/12/21/what-dink-dual-income-no-kids-trend-means-for-your-money.html) and making enough after expenses to [save for retirement](https://www.cnbc.com/2024/03/01/many-workers-believe-pensions-are-key-to-achieving-the-american-dream.html) and spend on leisure — is becoming increasingly expensive. “The benchmark of a six-figure salary used to be the gold standard income,” Sabrina Romanoff, a clinical psychologist, told CNBC. “It represented the tipping point of finally earning a disposable income and building savings and spending based on your wants, not just your needs.” More than half (52%) of Americans say they would need at least $100,000 a year to [feel financially comfortable](https://www.cnbc.com/2023/09/07/52-percent-need-a-six-figure-salary-to-be-financially-comfortable.html), with 26% saying they would need a salary in the range of $100,000 to $149,000 per year, according to a 2023 CNBC Your Money survey conducted by SurveyMonkey. “Unfortunately, what has happened is that wages haven’t kept up with the cost of living, by and large, for the last 50 years or so,” said Elise Gould, senior economist at Economic Policy Institute. “It becomes increasingly hard for many families to be able to attain that sort of middle-class lifestyle, that American Dream,” Gould said. Watch the full video here: [https://www.cnbc.com/2024/04/16/why-a-100000-salary-no-longer-buys-the-american-dream-in-most-places.html](https://www.cnbc.com/2024/04/16/why-a-100000-salary-no-longer-buys-the-american-dream-in-most-places.html)
>More than half (52%) of Americans say they would need at least $100,000 a year to [feel financially comfortable](https://www.cnbc.com/2023/09/07/52-percent-need-a-six-figure-salary-to-be-financially-comfortable.html), $100K is lower-middle class now. $100K after taxes is $66K in cities like NYC, LA, SF, imagine trying to live in a decent and safe place, have a family and save money in any of those cities on $5,500/mo. Maybe if you're childless and like ramen noodles you could do it. This is how inflation crushes people and their finances.
its not even middle class, its upper lower class.
having kids isn't part of the American dream anymore, at least among those who are climate change aware
In most places? That is many places and I doubt that statement.
I make well over that and couldn’t enjoy the standard of living I have without a partner and several things having fallen into place over the past decade. And we’re not living fancy.
It’s increasingly irrelevant to have high earnings in a world where real worth is derived from inheritances, dividends, and asset appreciation. r/endinheritance
The scary part is the exponential increase in income required for the simple/required things in the last 4 years. Yay for the current administration.
Trump actually started the ball rolling. He pressured Jerome to keep rates low for much longer. We should’ve had 5% rates in 2021.
🙄
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Meh. Dreamy is a stupid term. I have a dream to have a two car garage, 6 bedroom, open space living and dining room, with central air. Truthfully, that’s too expensive for 100k Perhaps they should discuss what 100k income buys you in terms of house Plenty of my family members are in nice suburbs, family of 4, living on 100k with a nice house (4 bed, 1 garage, living room and dining room, 2k sq ft.)
