Over half of Americans making over $100K living paycheck to paycheck

[@CBSNews]

Click here for more news from MoneyWatch: kzbin.info/aero/PLEb3ThbkPrFYgDkeTDyUZHDFkNV1hErBj

[@BuildCompanyEl]

Just all lies.

[@HarmonixsLoL]

Everyone understands that $100K gross income after taxes isn't $100K. So just imagine what those that are making less than that are going through.

[@MrDonny27]

Facts or child support

[@alexwinstead9977]

yall get government assistance stop crying i wish i could live off the gov too but i dont trust them as much as yall do to stay complacent and here we are

[@kcmark3]

If you have dependents and make half of six figures you aren't paying any federal taxes and state just depends on which state you are in...

[@LIK64]

Just did our taxes, try living on 29,000 a year

[@HarmonixsLoL]

@@alexwinstead9977 I make 60K a year, I don't qualify for assistance....

[@joesphcu8975]

People are working and there is little or nothing to show for it. everybody is basically working to sort out one bill or the other. no savings.

[@alexyoung3126]

With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits.

[@lawerencemiller9720]

I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million

[@kimyoung8414]

That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.

[@lawerencemiller9720]

I am being guided by “Eileen Ruth Sparks” who I found on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.

[@kimyoung8414]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@TheNobleBard]

I went into debt 40k during the pandemic. I had an emergency surgery and spent 10 months without work and without unemployment. So I put all my expenses on credit cards for months and made minimum payments with the few thousand dollars I had saved. I recently got a much better job than my old one, but I am still struggling. It's not all fiscal irresponsibility. The government and society abandoned some of us doing the covid crisis. We did the best we could with the resources we had.

[@lar-zd9rs]

Keep your head up man! We ran a tight ship here too and were forced to do things differently during the pandemic as well which now has landed us with no other options besides bankruptcy. Being 1 day late on 1 credit card for its minimum amount due made ALL of our cards APRs skyrocket and after trying to dig our way out of that mess it just felt like for every scoop of dirt we went to fling out, it just landed right back on our shoulders. You're not alone! Keep your head up! Everything will be okay!

[@sandyallen1523]

I pretty much became homeless just before covid hit. I paid off a bank loan, it was almost paid, and a store card with the first stimulus. I kept making payments on another card for a while and thought I would get it mostly paid with the $1,400 stimulus but it didn't come. Life got so expensive that I had to give up on the idea of paying on it and saving my credit. 😞

[@JF-rz3rh]

I know alot of us are in similar situations! Its awful.

[@KiambuX]

Absolutely! Hope you're making it through.

[@ligbzd837]

Call your family and move in together.

[@Enchanteralle]

$100k may look good on paper, but don't forget 1/3 of that goes to tax. So you're left with around a little over $60k a yr. Given the inflation and increase in living expenses in some areas, you're left living paycheck to paycheck. Sure you can save and limit your budget, but $100k now is not the same as $100k 20-30 yrs ago.

[@svongsa]

Yup!!

[@merrymaurader2521]

@@elir.torres8642 I dislike those tiktokers

[@TrollinOn22s]

1/3 of 100k doesn't go to taxes. Your taxable income is after your 401k and medical deduction but even without those deductions you are still way off.

[@joefuzz6385]

That’s called bad budgeting

[@anniealexander3402]

@@TrollinOn22s Not with Roth 401k and our bonuses are taxed at 40%. The op is correct. Plus add property taxes, taxes on new cars etc. Middle class Americans are way overtaxed.

[@holyland6380]

It depends where you live. 100K after tax in NYC is about 60K. Rent is 3K a month. After rent, utility and food, there isn't much left.

[@danieldylan1273]

That's because prices rise in proportion to wages. It's been that way since I started working in 1967. It's not going to change.

[@drcatrinaking]

Rent is 3k in Manhattan. If you live in the outer boroughs it might be closer to 2k. And therein lies the point: what you can afford depends largely on HOW you choose to live. Living on less affords you more.

[@holyland6380]

@@drcatrinaking The median rent for Brooklyn as of January 2022 was $2,722.

[@drcatrinaking]

@@holyland6380 There are many boroughs other than BK.

[@holyland6380]

@@drcatrinaking I suppose you can live in Staten Island next to the closed garbage dump and brave the SI ferry and then take the subway to work if that's HOW you want to live on a 100K salary.

[@Pianodaddyy]

My parents always taught me: It doesn't make how much you make, it's how much you can save.

[@rajvo7406]

And invest.... don't forget that . Saving and nit investing responsibly is akin to not saving at all.

[@kylequintana]

My parents only taught me to spend and lust for stuff not all parents teach you the right things. Guess what? They have almost nothing to pass down when they are gone except maybe debt..

[@mocheen4837]

It is harder to save when the cost of living increases more than wages.

[@Squirt69]

Your parents were dinosaurs.

[@fajita2]

If you don't make that much, you can't save. So, frankly, that's wrong. Someone making $50k a year can barely save anything, no matter how frugal they are. And someone making $500k a year can splurge quite a bit and still have plenty left over to save.

[@karlabritfeld7104]

My husband and I decided years ago that we were not going to live with debts. Paid off our mortgage within 11 years, drove our old car until it fell apart, paid off all credit cards and put every extra dime into savings. We now owe NO money to anyone. We invested money, currently worth over one million dollars. No inheritance, nobody helped us. We are "ordinary" people living within our means. I never made more than $40,000 a year.

[@soapa4279]

Bravo, this should be commended more. Thanks for sharing your story

[@joeyjoey22]

I want to illustrate this clearly to people reading this... If you make $40K a year, and assuming your taxes are super low at 25% AND you save 50% of your paycheck, that is $15K a year. If you save $15K a year annually for 11 years, with an insane unbelievable interest rate of 20% a year, you will end up with $600K in 11 years. Still not $1 million. Nothing about that is ordinary. Something exceptional happened and it wasn't mentioned. Parents' help? Lottery? You bought crypto? Your house appreciated in value? Ps: this scenario also means living on $1,250 a month.

[@greengreen2382]

@@joeyjoey22you jumped the gun and missed the part where they said they invested investing can help you double your money if done right

[@soapa4279]

@@joeyjoey22 It depends if she meant their net worth is $1M or their savings is $1M. Based on your math, it's probably not their savings. Maybe she meant net worth? I dunno.

[@Sochkaz]

@@joeyjoey22 ok so that’s the math for the financially illiterate person that only decided to start investing at 40/50 years old. Now do the math for the average person that starts investing in their 20s

[@SueLewisBuffalo]

Imagine how the rest of us are doing. Regular people can't afford to live here anymore.

[@deltaXna]

Yeah hut where do you live. I bet much lower cost of living than ppl making 100k a yr. 100 is the new 40k a yr

[@alicia_nicole]

I see tiny homes and extended stays becoming the norm.

[@Gauch36]

Don't buy into the hype and advertising. Don't spend on shiny toys you don't need, expensive vacations, subscription services and movies. Only buy what you need, and don't use credit to buy it.

[@andrewcampbell3100]

People enslave themselves in debt.

[@thepotatoofheaven]

i wish i made 100k a year. are they buying luxury clothes or something?

[@luciacoeto3222]

This seems to be a huge problem for the us citizens rn! I believe everyone should Live below their means" adjust your lifest, be frugal, budget, save and invest. This helped me out as a 6 figure earner. I've grown over a million in retirement savings with this method

[@phillawson5785]

Yeah it's really Sad there's a lot of people living paycheck to paycheck

[@eiraantoinette6793]

Great! You said it all right there 💯

[@solomonfrancis3487]

Solomon FL, 46. I Just started at my six figure job after being in and out of the poverty line. I really hope I don't end up like this. I'm scared really scared!!!

[@luciacoeto3222]

Don't panic, start out easy, don't buy things you don't need, budget every money, always save a portion of your pay atleast 5%, Invest from your pay check; it grows and helps you accumulate wealth easily.

[@solomonfrancis3487]

¿Thanks, I started saving a bit already, how do I go about it? I want to try all my options:)

[@hawkeyebricks9905]

100k doesn't go very far when your house payment is 2-3k/month on top of food/utilities/car bills.

[@alicia_nicole]

Right. All these people talking about your living beyond your means have never made near 100k themselves or they live in the middle of nowhere. It's so easy to make that shallow judgment when they've never lived it

[@P0k3D0nd3M4cG]

@@alicia_nicole hi, I make a little under $100k, live in the IE (SoCal) and have more than enough to spare every month. It is a lot poor budgeting/ living above your means. You can collectively cut a lot of financial fat by trimming the little things. You don't have to live in the fanciest neighborhoods, spend much on clothes, limit the frequency of dining out, drive a $30-50k car, etc.

[@alicia_nicole]

@GhoulishDongle everyone's situation is different. Just bc you are good don't mean everyone at your salary will be. I'm pretty sure you aren't taking care of any children either. 🙄

[@P0k3D0nd3M4cG]

@@alicia_nicole nope, because I recognized that having children is a financial burden I would rather not incur LOL I don't understand people who willingly have kids when their finances aren't straight. I think it's funny how you opened with, "these living above your means comments are coming from people who have never made 100k," but then adjusted to, "everyone's situation is different," which only serves to prove the living above your means comments. A take home of $62k for a single person still nets you at least $1k a month with $2k rent, which is typical for the IE, and all other expenses. Assuming you start with $0 in your savings, after 3-4 months, you've already saved enough to not technically be check to check. Most people try to take on more than they can responsibly accommodate.

[@DaneReidVoiceOver]

@@P0k3D0nd3M4cG Agreed, If your mortgage is 3k, thats 36k a year. You should still be working with another 36k a year. Where is it all going? As an adult you have to make smart decisions and say no to things that are hard to say no to.

[@susangowin8763]

My husband and I have always watched our spending (especially, around the holidays) even with 5 kids and one income over the last 20 years. We're so fortunate to have over 9 months of emergency funds saved up, but we really try to live as frugally as possible.

[@trump24trump]

Cash app me a thousand dollars

[@makeracistsafraidagain]

You must be very careful.

[@veritas3179]

You guys got it 👍!

[@NAT-turners-Revenge]

Define "9 months" how much is that for you? 9 months of savings for me after tax is 63k

[@giancarlonyt]

did you buy a house for 100k? or inherited?

[@cam1bce]

Depends on where you live, who you live with , and habits. 100k for family of 4 in California vs 100k for single guy in Texas with a roommate is COMPLETELY different

[@pasitosjunior4939]

The problem also is that High earners live beyond their means. They buy expensive homes and cars but they hide their reality. I know people with 6 figures that live beyond their means just to show off but they are deeply in debt. It’s sad.

[@elchapojr6219]

Bingo !!! You hit on the head

[@johnraviella6561]

I think this is partially it.

[@JG-vo3mh]

Yeah but that’s a small percentage of the entire group of high earners

[@johnraviella6561]

@@JG-vo3mh to put it into perspective, I ($105k base salary) save $4000/month with 0 dependents, a single income, and $1816/month mortgage including escrows, and $950 for all household expenses. I have a $65 financed furniture payment for new home. No car payment or other debt besides student loans. I think $2k/month is still a great savings rate but can see how childcare would drain that in a hot second

[@ashleycora138]

I live in what has become suburbia & me and my lil paid off cr-v are sandwiched between new suvs in every parking lot. I get it, the only reason I don’t have a bigger car is cos I was logical and determined it was beyond my means. It’s funny cos I’m quite poor but the people who have jam packed this place in the past 5 years are likely exactly who you’re talking about. Ironically I’m probably richer then them if we’re talking debt ratios.

[@CrissyLynnB]

Imagine how the rest of us out here struggling, trying to survive in single parent household 30k and under.....

[@schoolofrandomthings]

I'm a single parent and I was once in this position. I keep moving positions every couple years until I landed in one that paid me well with benefits. Plus I down sized our life into a smaller house so I could have a smaller mortgage. Over the last couple years I'm able to pay stupid financial mistakes off all while saving and investing 20% of my before tax income. It took tons of work to get here bit I have zero regrets

[@aprilcloyce7426]

With government help and tax returns

[@marcoAKAjoe]

Terrible

[@2mfours]

exactly

[@mclome22]

They are living paycheck to paycheck because they chose to live in a condominium downtown for $3500 a month, they chose to drive a bmw for $600 a month, they chose to eat at fancy restaurants for $300 per week, and finally they chose to go on vacation with the person they are dating for $4000, and then tax seasons comes and take the rest of the $100,000 per year salary.

[@RowdyLpx]

I'm a disabled veteran finishing up my bachelors and getting ready to move on to post graduate here in a few months. It has been extremely difficult to find a job that can accommodate some of the basic needs for its workers. I was a decorated soldier and in the civilian world I feel lost.

[@cg3114]

When you are not hired and you know you are capable of doing the job, ask for a reason in writing why you were not hired. If they refuse, reach out. to the Department of Labor for help with filing a disability suit. Just make sure you file out your disability on the application and list your VA status.

[@jeffl8915]

Go into cybersecurity.. you'll get a job with whatever degree you end up with... it's really easy and hiring managers don't care if you don't have skill.. they just care about that degree.. in literally anything.

[@V.E.R.O.]

I felt the same when I left the Navy, I was led to believe that being prior military would give me an advantage but employers don't care and the civilian work atmosphere is different, in the Navy it was all about teamwork but in the civilian sector it's every man for himself.

[@PraiseJesusChristOurSavior]

this is all on purpose. economists talk about the consequence of this called, "sin flation". there is more profit with sin and death than any other business. e.g. gambling, sex etc. so the powers that be wont ever let up on our cost of living. this is all on PURPOSE.

[@Josh-dj8jy]

@@jeffl8915 bros gonna need a stem degree to even get a chance in cybersecurity unfortunately

[@shiftymcgee9359]

Consume, consume, consume. It's the American dream.

[@karlabritfeld7104]

Straight into poverty

[@adammorra3813]

No its not, 5k a month is not a lot

[@catholicfaithofmine2664]

@@adammorra3813 I live on way less than that and still have money left over to put in savings after my mortgage and bills are paid and food bought. I'm not out to eat I make my coffee at home. I do lots of things to not have to spend a lot.

[@useruseruser1291]

@@adammorra3813that depends on your lifestyle, it may be a lot to some and not to others.

[@mostbased]

@@adammorra3813 seems like you flunked math in middle school

[@baldeagle4710]

100K now is 50K ten years ago. Price of everything has gone up, especially in housing. In CA you pay 3K a month for a one bedroom apt. Not much left after that.

[@liquidmagma]

Move.

[@karlabritfeld7104]

Get a second job, sell stuff you don't need. Use your head

[@yob_woc]

1 job 10 years ago is the modern day 2 jobs

[@BanellaRg]

Try living off half that amount

[@MrOfficer235]

Move out of CA

[@Jim_Curtis]

Having no debt and 3-6 months of living expenses as a reserve is such a game changer financially.

[@martin4819]

Exactly….people don’t realize it’s much better when u can be your own bank and borrow from savings rather than rely on a CC with 23% interest!

[@codecaine]

💯

[@ignaciomayenthegoldenrule9618]

This only motivates me to continue to work overtime and continue to build up my emergency fund. No new purchases until I can pay cash. Stay motivated.

[@hermanrogers1325]

Yep that’s right

[@MrMlbfan6]

Is gonna go to taxes

[@ignaciomayenthegoldenrule9618]

@@MrMlbfan6 some of it. Only After it goes to my defined contribution plan. But not to any loans beside my mortgage.

[@NAT-turners-Revenge]

Awesome... myself included- I've got a good cushion but I'm going to maximize it and contribute more to my retirement plan. Fortunately, I only pay taxes on my home as it was paid off in 2014

[@Bigfrie19]

But see... That's the problem. OT should be an optional source of extra income, not something we need to rely on or beg for just to save money. 40 hr. work weeks should be enough to get most of us by. Your free time is just as precious as your work time(actually more) and we are slowly losing our valuable personal/free time just to afford being alive.

[@ligbzd837]

That's why people should always live "below" their means. This is the way to weather all the ups and downs of life...

[@_senka]

This is why this country has been going downhill. At one point we have to accept that the fault isn't with the common people. If people need to live below their means in the richest country in the world, then what does that mean? It means the system doesn't work and needs to change. Specially, when it wasn't always like this. Boomers could afford a family of 5 and what we'd call now a mansion in a regular 9 to 5 single income. Things are getting worse.

[@ligbzd837]

@@_senka Things are getting worse BECAUSE people buy into the chase money and luxury as their goal in life. They spend everything they make and buy big houses that is NOT necessary and eat, eat, and eat into diabetes and heart disasese. In order to support all these desires, they have to work, work, and work without time for spouse, kids, or elderly parents. This is why many people (all over the world) is going down hill. Chasing money, status, and power over frugality, family, and health. Yes, the system also has responsibility to slow down growth and don't always chase higher GDP. But, people should focus on family more, not career or higher profits. It is GREED that is destroying all nations.

[@_senka]

@@ligbzd837 No? I don't where you get that idea. There are dumb people like that, but their impact in the economy can't be that big. If you're telling me that rent, gas, utilities and so on which people are struggling to pay are frugal purchases we shouldn't chase, then I can only reply with XD

[@suntzu6122]

Inflation robs us all.

[@scholaroftheworldalternatehist]

Look at wealth distribution. Bottom 50% of Americans competing for 2% of the wealth. There's the problem..

[@kathleenrobertpogue6818]

This is called living above your means. My household brings in less than 40k a year. We aren't living paycheck to paycheck. These people are making poor financial decisions. A house they can't afford in a city they can't afford to live in with multiple cars they can't afford to drive.

[@JaSoLuV]

$100,000 a year. The cost of living going up faster than I can save for retirement.

[@divergentthg7925]

I wish I could make 100K a year hack even half that bringing home I can save for retirement in no time😂

[@sftv7355]

They also forgot to mention that the only reason some of us make that much is because we live and work in cities with high cost of living. Not to mention the government takes away a third of that through taxes.

[@computron5824]

Honestly, that's one of the major points and that's why these "studies" are nonsense. They sampled less than 4 thousand people, and then try to project that onto hundreds of millions of Americans. So you're right, there was no mention of living in high col areas, massive school loans, self employment, taxes, insurance, defaults on loans, mortgages etc. All of that is needed to find out whats happening, but most of the time its like "big number sound bad!"

[@liquidmagma]

The government takes away a third of everyone's income, genius, except from those living off the government.

[@karlabritfeld7104]

We all pay taxes

[@malva9092]

@@karlabritfeld7104 in case SF TV comment was somehow hard for you to understand: Everyone paying taxes (which also vary from person to person) doesn't mean everyone has the same amount left since people pay different amounts for gas, their vehicles, food, housing, healthcare, etc Yes, "everyone pays taxes", fire is hot too, and the sky is blue

[@terriej123]

Yet rich people pay effectively zero in taxes.

[@AFlyingMayMay]

People don’t budget and wonder where all their money goes. People depend on credit cards and wonder why their payments are so high. Even with inflation, budgeting is a valuable tool that will show you where your money is going and teaches you to tell your money where it should go. People are just too lazy to do it no matter the income

[@bane3991]

I have all my expenses/liabilities written down along with how much I make. I know where every dollar goes. No surprise, I'm not in debt. I only make a little bit above minimum wage too.

[@Curiousitydrive]

You are out of touch.. it doesn’t work for most family right now. Especially those who have small kids. Day care is like an average 1500 for ONE CHILD depending where you are. Insurance is a must with kids that’s 700-800 for a family, I paid 120$ as a single person but I’m paying 800 now! Housing? Don’t even get me started rent is raising to get a house right now is really hard with everything else. You NEED to make a lot more today. If you are older and your mortgage is payed off or the nice 3% with the 4 years ago price, you have no kids in daycare or insurance to pay for a family then YES your advice stands but please don’t spread this out of touch comments.

[@ayemiksenoj5254]

As a disabled person I WISH I could make $20k-$30k before the government deemed me as "healthy" and took away my disability rating. Claiming now I can do things I can't based upon a monetary amount. I WISH I could have more than $2,000 in savings and assets (combined) before my benefits are cut forcing me to try and live off that amount. It's just hard for me to care when so many people work themselves into the ground and are still homeless. My sympathy and empathy is just for them. Edit: if people making 100k are having a hard time just imagine what's happening to the vast majority that don't..

[@alicia_nicole]

I have a friend on disability and my heart goes out to you. He started working at a hotel and they sued him. Now he works under the table bc that lil check is not enough. Its like a silent epidemic. There was this woman working in the accounting department for the government in Florida who was homeless. Makes too much for any sort of help but still not enough to even live out there. She's not disabled but I see what the regular folks are going through. Motels and extended stays are becoming their homes. And 8 people are renting out single family homes. I wonder what will it take for things to change fundamentally.

[@ayemiksenoj5254]

@@alicia_nicole, thank you for responding to my comment. I usually either get avoided or a good amount of negativity for talking about this. I try to educate people, but often it flies over their heads. An yes, at my last job I was working with someone who was homeless and because of working where we did she was able to afford an extended stay hotel. I believe my manager at the time was living in a similar situation too. If you really think about.. in a rich country like ours... is insane. For a person like me, I want to work. I want to make my own money, have savings, and own a home, but it's almost next to impossible. I don't have family or support that can help me when times are hard and I'm not able to work a full 40+ hours a week every week for a year or longer. Also, it's not the money or benefits I'm concerned about losing it's the disability rating and accommodations in the workplace. I've been trying to carve out niche work for myself so I can have some freedom, but that has been difficult too. Balance & Blessings to you.

[@skycaptain95]

The way out is to find a job that you can do with that disability paying more post-tax than you make in benefits. Easier said than done, but it is the correct way.

[@ayemiksenoj5254]

@@skycaptain95, sigh...

[@1435queen]

Yeah they complain about people being on assistance but then make it near impossible to get off it! Why would you punish someone for working to take care of themselves? I swear they purposely WANT to keep people POOR 🤦🏾‍♀️

[@fadmap9676]

According the US Bureau of Labor and Statistics, only 20% of all US household income make over $90k a year. That means 80% of Americans make below 90k a year. So if people who are making 100k+ are living paycheck to paycheck, they clearly don't know how to manage their finances at all.

[@isaacklostermann3936]

They pay taxes and don't get insurance breaks like everyone else. Turns 100 k into about 50 k

[@BanellaRg]

@@isaacklostermann3936 describe to me the benefit you are talking about. You are just delusional

[@drmvp21]

​​@@BanellaRg they have to pay more taxes compared to low income earners and don't get a allowance or deduction on medical insurance. The gap between the lowest wage workers and the true middle class is shrinking. 100k a year just gets you into middle class. Everyone below that can barely afford rent food and electricity. My parent bought their first house in the 90s for 98k. My first home, the cheapest in a middle class neighborhood ikebana my parent was 300k. My dad only earned 10k less a year then I earned at this point in my life. You do the math.

[@Timothee_Chalamet_CMBYN]

We on a much higher tax bracket, I make barely 100K but after taxes I see maybe 75 ish? Then I have to pay medical/ dental insurance bi weekly for my family of 4, which is about $600 a month. Our mortgage is $1500 a month, then ultilties are around $200. Have to remember two phones for wife and I, food, school lunches for the kids. We broke. We don’t get ebt, we don’t get that Medicaid, we don’t get free school lunches.

[@danven1256]

Even at 100k these people are pushing themselves to live beyond their means. They go after the biggest home they can buy and the most expensive car they can buy. Then when the economy goes south they lose their home to foreclosure and their BMW is repossessed. On the flipside there are people like me who drive a 32 your old pickup and will be buying their foreclosed home with cash. It all comes down to what your priorities are and whether you're smart enough not to follow the sheep.

[@johnthomas3708]

What happens is people in the same income level tend to live in the same areas. Landlords and retailers adjust prices and you end up in the same situation that people who are making less. Landlords know what you make so even if you come in with a low rent the first year when it’s time to renew they will hike up the rent. Buying used to be how you fix this but home prices are sky high.

[@terriej123]

Exactly

[@kngofheartz134]

If you are at 6 figures or more and struggling, then you're living outside your means plain and simple. The same advice a 6 figure earner gives to a brokie minimum wage earner applies inversely as well. Fiscal stupidity is not locked into the poor, the wealthy are equally susceptible.

[@karlabritfeld7104]

True

[@alexwinstead9977]

thats not true are you at 6 figures or more to know? depending on where you live family situations etc 100k can be responsibly spent and you still be in a hole

[@bigninja27]

@@alexwinstead9977 no it can't, not responsibly that is. 6 figure earners are spending way outside there means.

[@alexwinstead9977]

@@bigninja27 You sound like someone who doesnt make 100k im speaking from experience. its not alot yall got to factor out all that assistance from the government yall get cause we dont get access to that...then you have to understand not everyone lives in the middle of nowhere so cost of living and goods is way up. idk why its so unimaginable for yall that this could be true.

[@littlesongbird1]

@@alexwinstead9977 So you think anyone making less than 100k gets helps from the government? LMAO. I have never made that much and never qualified for help even with tax breaks. The closest thing I got to government help was the promise of student loan forgiveness which of course was yanked away. Also, if you have children guess what? Regardless of your income you are getting some kind of government help from the government! You are getting tax breaks on your income because you have dependents and if your kids go to public school, people with and without children are paying for them to be educated (not that I begrudge anything even though I am childfree by choice, I attended public schools myself). It never ceases to amaze me how people with children cry that they get no help from the government yet they declare their children on their tax returns and send them to public school. Hello! Before you go crying about no government help to me send your kids to private school which can cost anywhere from 10k to 80k a year and stop declaring them on your tax return and then come back and tell me how the government isn't helping you at all.

[@Ali-dn9tl]

Thats 100k before income, property, and sales tax - forced to pay SS (while having a 401k/roth) and insurance is a must. We don't actually make 100k

[@rockpadstudios]

$100k in CA isn't that much - I feel for people making less that this but there is some tax relief as your wages drop. I always wondered what the sweet spot is for a low income salary

[@atweber]

@@rockpadstudios my wife and I make almost $90k together in socal and it’s we still feel poor lol

[@merrymaurader2521]

Payroll + incomes taxes + rent/ mortgage + food+ vehicle upkeep + home maintenance + property taxes+ sales tax. I can go on and on.

[@fadmap9676]

Yall should go into medicine. As a Healthcare worker we get tax credits, especially if we worked during coving in ICU units. Student loan forgiveness programs, free health insurance + 1 through the hospital you work at, most cover up to 80% of the premiums, mine pays 100%. My hospital also matches what you put into your 401k up to 100% as long as you don't put more than 25% into it bi-weekly. I get 30% discounts on cable/internet, cell phone, car insurance and home insurance. Most car dealerships also give discounts to medical workers. I got 20% off MSRP at BMW when I got my M3 as a Healthcare worker and I got 2 years worth of free service and oil changes having worked through covid. When I got my first house, my state has Healthcare worker mortgage programs for first-time buyers, the state paid my 20% down-payment on my home with 0 repayment requirements. They also covered half of the closing costs as well.

[@rockpadstudios]

@@fadmap9676 You are so right. I've worked in many industries through the years and the medical industry is by far the best to work for. There will come a point where it will be reset just like tech is now. I'm hoping after I retire :)

[@w2385-i2s]

Time are so tough my first and last car will be the same. I have my corolla for 30 years with 600K miles.

[@phongdao9239]

Strange, my wife and I make about 90K combined which is not a lot at all. We live about 1 hour from Boston and our mortgage is 2K not including utilities. Also, we are not living paycheck to paycheck so I don't know that those 100K salaries are doing with their money. Oh wait a minute, I have family and friends that are making 100K plus, and living beyond their means. Some are and some are not.

[@laylow9o965]

Let me guess your friends have expensive car payments lol

[@jaclrossrick6327]

Try living in Boston itself and you won't make it

[@phongdao9239]

@@jaclrossrick6327 Thanks, you made my point. Why put my family in a paycheck to paycheck situation when you have options? Work a hybrid job, 2 days at the office and 3 days remote or just commute like some people I know. No one is making you live in Boston.

[@bharris4517]

Do you and your wife file jointly or separately?

[@adammorra3813]

I am living within my means on 170k, its really not a lot of money after taxes and survival needs.

[@dark12ain]

Imagine making what 39,398 a year and wondering when are things gonna let up 😫

[@AntonioBianh]

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.

[@sophiadouglaswagner]

Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.

[@MarkFreeman-xi3rk]

Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a year now mostly because I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $320K in profits so far, Its clear there's more to the market that we avg. don't know that Investment advisors know.

[@cythiahan8455]

@@MarkFreeman-xi3rk Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@MarkFreeman-xi3rk]

Margaret Johnson Arndt is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@JenniferDrawbridge]

thanks for sharing this, I am in conversations with your advisor, and she really has substance, having interviewed her properly and reviewed her model, I am hoping she takes me on quite seriously too

[@mikalmandichak8328]

I'm making $40,000 and even I'm not living paycheck to paycheck.

[@martianfromspace8292]

you live with your mom or roomates thats bad

[@joemomma7183]

@@martianfromspace8292 tell that to the whole country

[@martianfromspace8292]

@@joemomma7183 I know that. No grown adult should have to live with roommates. I make 100k and live out my truck. I wish the whole country would too so land lords would force to bring down rents. Greedy land lords win when everyone is living with roommates

[@karlabritfeld7104]

@@martianfromspace8292 nobody should have to live in a vehicle

[@cerisem7727]

@@martianfromspace8292 Maybe you should move out instead of living in the big city or the coastal areas. 100k is manageable to someone who has been living under a 40k income. Rent where I'm at is $700 month, and other expenses are around $200-300 month. And that's living from a 40k income.

[@robertnobles8189]

Consumerism and commercial credit cards, this is not the way! Live within your means.

[@NHJDT]

I had 2 simple rules. 1. Eat good food before bad food. 2. Save a certain amount before spending on non essentials. These 2 simple philosophies really help to keep 0 debt, low stress, and keep my family of 5 healthy. Two months ago my husband lost his job and it's been a little stressful but we had save 1 year's worth of emergency cash. We drive a 15 yr old minivan and look average from the outside. Except for our kids and 1 friend, no one knows we're the millionaires next door. The cost of life really is expensive. You can thank the Federal Reserve for that. Many people don't know where to blame but it was them and every administration who help them increase their power over the rest of us over the decades.

[@TheJohnlyh]

What does eat good food before bad food mean? Btw i do agree on your saving up for disasters.

[@006ahenry]

@@TheJohnlyh I'm a chef. Eating good food, that you prepare is cheaper than eating out. Eating food that you prepare should be more nutritious than restaurant food. Nutritious foods, tend to keep you out of that expensive doctors office & paying for those expensive prescriptions. Nutritious diet & regular exercise can save you money in the long run.

[@idkwhy77]

and potential health... problems.. @@006ahenry

[@chelseajackson6206]

Making over 8,000 per month you should not be living paycheck to paycheck.

[@chobiden7770]

earning $8000 a month means a take home of about $5000 for most people after federal and state taxes, ssi, 401 contributions, medical insurance, short and long term disability, life insurance etc

[@alansach8437]

@@chobiden7770 401k contributions, life insurance, short and long term care insurance......those are all choices to buy or contribute to, so you are not living paycheck to paycheck. Clearly you do not understand the concept of paycheck to paycheck. Also, most people making 100 grand have jobs that provide health insurance. Do you not remember in your twenties when you paid rent, utilities, bought food and put gas in the old jalopy and you were broke until next payday? THAT'S living paycheck to paycheck! Maybe your twenties weren't like that? Mine were. If I got sick or hurt it was the Free Clinic. 401ks, health insurance, long term care insurance, life insurance were no where on the radar! That is discretionary spending.

[@A_D624]

@@chobiden7770 60k is really low tbh especially in California

[@0nillevass]

My household gross is 105k but after tax, 401k, and heath insurance deductions bring home is 4200/month. Nowhere near 8000!

[@beatrizbejarano6594]

@@chobiden7770 lets be clear nobody stated exactly 100k

[@zr2ee1]

I also think people don't take into account that's pre-tax, after you deduct for a 24% tax bracket, HSA matching, health insurance, and 401k matching, you're really walking out the door with only about 65% of that gross salary. so it's more like making $65k when it comes to post-deduction living expenses

[@sadscientist9995]

Then deduct 3k a month for rent

[@zr2ee1]

@@sadscientist9995 rent is a double edged sword, you don't have property taxes and home owners insurance but also don't get the tax benefits or have to deal with damage costs. I think I'd still prefer to own than rent, more options to leverage the equity. $3k sounds high but I'm sure it depends on where you live

[@PaperRaines]

You realize that health insurance and retirement investments _are_ products, right? You don't have to purchase them and have them coming directly out of your paycheck. I'm just saying we all play fast and loose with our verbal definitions of what a salary is, take home pay, etc., your decision to have insurance, and health savings, and retirement savings, are smart decisions. But they're not obligations, if you wanted your net paycheck to be bigger you can totally forgo them. The only thing that's not negotiable are your taxes

[@zr2ee1]

@Eduardo you could forgo them but you'd be losing out on more than you'd gain when companies match your contributions. At least in my opinion

[@PaperRaines]

@@zr2ee1 I said they were smart decisions to have, but definition wise they are part of your take home pay. Just before you get money directly deposited into your bank account (or God forbid people who still cash a check) the first thing that happens is you pay into that investment account (which is your money to spend), or pay into that health savings account (which is your money to spend), or pay your health insurance premiums (which is a service you can and should be using regularly). It's a.... "privilege" to be able to afford those things from a salary, and it should be counted in take home pay If anything I'd want more discussions about pay and salary to involve *total compensation* , which includes the value of PTO days and employer paid premiums. I think a lot of workers' complaints about how much money they earn and take home is derived by serious misunderstandings of general finance, and of course a little strain of natural whineyness

[@kennedykimora]

I’m a US Citizen & if you’re making 100K & living check to check you’re doing something wrong. No way.

[@Lilmonke_586]

Living below your means if possible. I understand many people can’t because of responsibilities they have, but if you can try to save some money. Every little bit counts.

[@marcielynn4886]

15k a year and have a savings account. Life off the grid.

[@whywouldigivemyrealname5162]

How off the grid are you? Sewage + solar panels? Or are you outhouse + root cellar?

[@adammorra3813]

@@whywouldigivemyrealname5162 hes lying

[@soapa4279]

@@whywouldigivemyrealname5162 lmfao

[@ChocoBabiChan]

Anyone making 6 figs and living paycheck to paycheck is living outside of their means. There's no excuse. This is definitely a first world problem. 🤦🏿‍♀️

[@houdinous520]

And I make half that. How do these higher paid employees think we feel

[@bryanlewis9111]

Right? I make 60k and year with benefits. And these 100k mofos are having trouble.

[@lovelife7343]

I made $27000 this year for a family of 3 and no government assistance . Money is tight really tight .

[@HarmonixsLoL]

Some people spend more as they make more. Get a raise? Well, guess that means I can spend more. Poor financial management basically.

[@skycaptain95]

Time to level up your skills

[@caitlinodonnell2753]

i just made it to 80k. i started at 40k in MA. you have move in with family, 40k is criminal.

[@nickgarcia4988]

A lot of people who make $100k or more have massive debts. $800/mo+ in car payments, mortgages that are way to high and the need to look like you’re making $200k when you make $100k

[@djm2189]

Yes! I'm 28 and earn $112k. I needed a new car so i bought a used 2016 Nissan Altima cash. Friends made fun of me with their Tesla's. Here's the thing, they all make no more than 100k. I know they have large monthly payments on a depreciating asset. Instead I've been saving for my 500k home.

[@kenofken9458]

Most of these people would be living paycheck to paycheck if they made $200,000, or $600,000 a year. If you live at the maximum edge of your means, you will always be broke, or one small financial hiccup away from broke.

[@jennifer3551]

Yeah, if you're making 6 figures and are living paycheck to paycheck, that's not an inflation, "holiday creep", etc reason. That's called a living above your means situation and is easily fixable

[@katiefountain2407]

The old-timers always told me to avoid debt like the plague! Thankfully I listened. Being young you can pretty much manage being poor. You've got the energy to walk if need be and work 80 hours a week. And roommates! Get some solid people to split the bills with. But you don't want to struggle when you're middle aged and above. Typically by 35 your energy / endurance starts to wane. Don't get into debt when you're young!!!

[@vincentharris7909]

Well said Katie. No debt.

[@breal7277]

LOL. My son got his first credit card last year. He set it up to pay off the total balance automatically. Only the bank didn't and he got a $25 dollar fee for late payment on the first month. He went back to the bank and again asked them to set it up to pay off the monthly balance. Only they didn't, they only set up the minimum monthly payment without clearing the balance. It took three visits to Chase to get it right!

[@terriej123]

Absolutely.

[@terriej123]

@@breal7277 tell him to call & ask for the fee to be refunded. They will do it for sure.

[@sadscientist9995]

Not gonna spend my healthiest years walking for miles to work 80 hour weeks lmao .

[@Mando_Trucker]

I dont feel sorry for the newest iPhone holder, with platinum Ford f150, 65 inch TV, LV purse, 2 car garage house, $2,000 dollar macbook, Starbucks coffee, not living within thier means person.

[@roachtoasties]

$100K with a family or in major cities where rent for a one bedroom apartment is over $3,000 a month, makes $100,000 lower-middle class.

[@anaroman1499]

This is why you move to another location where you can save making 100k. I lived in NY and could not make it. Moved to AZ and I have alot of money left over.

[@afteritsallsaidanddoneisti9285]

That's not a good long term solution. If everyone moves to cheaper cities/states, you'd eventually run into the same problem.

[@liquidmagma]

@@afteritsallsaidanddoneisti9285 Actually, it is a good long term solution. If "everyone" moves to cheaper places the places they formally lived will come down in price.

[@Naomi-xu4hq]

@@afteritsallsaidanddoneisti9285this “problem” exists around the world. Barely any other countries ppl can buy their own homes for every person in the family. Sorry Americans, your luxurious lifestyles are cutting thin😊

[@catholicfaithofmine2664]

@@afteritsallsaidanddoneisti9285 I did the same moved from Mass went West and have a home a 2020 car I just paid off and have money left over to put away. Yet as mentioned I'm in an area where we are 7% above the national inflation rate and still have money left over and I don't even make 40K a year.

[@catholicfaithofmine2664]

@@afteritsallsaidanddoneisti9285 I did the same moved from Mass went West and have a home a 2020 car I just paid off and have money left over to put away. Yet as mentioned I'm in an area where we are 7% above the national inflation rate and still have money left over and I don't even make 40K a year.

[@ItsRyanStudios]

I make a decent tech salary but I live far under my means- living in an rv park, shop at Goodwill, rarely buy anything superfluous, and save 50-70% net income. And I make sure to have a safety net of trade skills- carpentry, electrical, chemistry etc- if it ever came to that, because nothing good lasts forever.

[@terriej123]

Sounds like you don’t have kids or other loved ones to care for.

[@chuckchizzle]

I make 80k per year and not living paycheck to paycheck, they are living above their means.

[@TisiphonesShadow]

As a cop I don't make anywhere near that. I do this thing called "budgeting". I don't buy things I don't need, I don't go on expensive vacations, I don't buy luxury brands. I do fine, and so do a lot of others. Look at what you spend your money on and you might be surprised at how much you can save.

[@linuxsurfer2002]

Take personal responsibility for their actions? You're absolutely right, but some people simply will not. It's always someone else's fault.

[@mercym2395]

Are you effing kidding me?! You see this effed up economy due to NO FAULT of our own and then have the audacity to blame the poor?! LOL they have you right where they want you.

[@NAT-turners-Revenge]

You forgot to say you do security on the side, take drug money, stop strippers and get them for civil forfeiture, get paid to do private investigations, and take bribes

[@leep368]

@@mercym2395 no fault of their own? Look at the politicians we have put into office. Look at how often you buy stuff you don’t need. Most certainly is our own fault.

[@seriejohnson698]

I am almost scared to spend because things are so crazy. I wanted to get 3 shirts and I waited to get free shipping and paid a total of $33. I was in credit card debt once. It was a very scary place to be. I finally got out. I still use a credit card, but only when there are rewards to be made. I purchase and come right home and pay it off. I have a Best Buy card visa and they offered $10 on a $100 purchase outside Best Buy. I had to get groceries used the card came home and paid it earned $10 bucks on my next reward cycle. 13 years to go my mortgage. I just want to be debt free, that is what I care about now.

[@CarlosDiaz-gv6dz]

Y'all need Dave Ramsey in your life

[@nocturnaldrive9214]

A relative of mine works for a company who goes into homes and cleans them up after they have been repossessed by lender due to the owner just walking out on payments. He' had that job for 15 years and stays busy. He says most of the homes are in upscale neighborhoods.

[@danven1256]

I always keep a close eye on foreclosures and they are increasing. The 08 recession was my biggest moneymaker ever.

[@crdesignz9941]

What

[@lawrencehodge6273]

A big part of this is what no one ever talks about: a lot of people are just really bad with money.

[@Gabe-cv4yr]

AAAmmmennn

[@basicbry8383]

Retweet

[@grayisgood]

So grow up, be responsible, learn. Everyone can learn if they choose to.

[@33percentgod]

Employers all fighting who can pay you the least and under-employ because they would rather shut down the company before spending a red cent on labor costs translates to you as "people are bad with money?" Are you another "temporary, embarrassed millionaire?" You are closer to being homeless than you are to being a millionaire. How about having some working class solidarity.

[@lawrencehodge6273]

@@33percentgod I have a background in finance so I know what I’m talking about. Pointing out that people are bad with money isn’t saying I don’t have working class solidarity nor does it mean I’m siding with these pos greedy corporations. It’s a cold hard truth that no one talks about. I used to work in lending the amount of people I saw making over 6 figures living pay check to pay check because they were over spending was ridiculous. A lot of these people are bad with money. Plain and simple. I remember one guy making well over $200k a year. Just in car payments he was shelling out over $3800 a month. Why?

[@Realg401]

If you make 100k a year and living paycheck to paycheck your living out of your means and financing some ridiculously lavish purchases rather than paying to own in cash and what you can actually afford

[@pnutt2532]

Not true at all , I can only assume you don't make that much , or you don't live in Ca. Especially the bay area

[@DarkPassenger]

@@pnutt2532 It's actually very true. The people who complain about living pay check to pay check are always those people who think they can still take expensive vacations, go out to dinner, and bars all the time. I personally know a lot of people just like this. If they were more responsible with their money they wouldn't be having any issues.

[@pnutt2532]

@@DarkPassenger where do you live if you don't mind me asking???? Do you live in the bay area ??? I'm assuming you don't either lol , its a proven fact , to live in the bay area comfortably, meaning not pay check to pay check , you should be making atleast 175,000 a year.

[@Slick1020]

@@pnutt2532 Nobody told you to LIVE IN THE BAY AREA. I live in California and I DON'T LIVE IN the BAY AREA.

[@Slick1020]

@@DarkPassenger Preach! People always with the newest iPhones and driving the most expensive cars are ALWAYS broke.

[@solandri69]

This country seriously needs to add one semester of personal finance management as a requirement to a high school education. Everything about savings, interest, bank fees, budgeting, balancing your checkbook (payment accounts if you bill pay online), credit card vs debit card, loans, mortgages, points, equity, down payments, amortization, investing, mutual funds, stocks vs bonds, dividends, compound interest, filing taxes, deductions vs credits, etc. I had to figure out on my own. It's a helluva lot more relevant to most people's lives than a foreign language, or visual arts, or even some of the more advanced core three-R classes.

[@SgtJoeSmith]

we did this in 8th grade in 90s in iowa

[@ennuiblue4295]

They don't want that, they want a nation living hand to mouth and willing to take employers abuse

[@danven1256]

But that's so old school, now our government wants us to be dependent on them so why would they want to teach us to be responsible ?

[@flowerpower7065]

They dont do that, because they want to keep us stupid and in the dark from valuable information.

[@simplyfig3942]

Why if half the time the high schoolers are too busy acting like they know it all. If they choose to not ask their parents question about living on there own then that’s on them your telling me that in your teens you can’t ask why money has to be put back. If your a parents and choose not to show the ugly economic side of this country/ world that’s on you for giving them a fantasy world and never letting your kids see you struggle or wanting to explain to them when they ask what you are doing and the response you gave them was “adult things” or your too young to understand

[@antoinetbd8016]

Time to take a hard look at where the money is going....It's not HOW MUCH YOU MAKE...it's how much you keep...then save..or invest...

[@Blaccsparrow]

Shows how bad people's spending habits are. I'm doing just fine

[@Onehitwonder828]

As long as you're doing fine is all that matters, who cares about others? It's all about you.

[@adamk4733]

@@Onehitwonder828 eh lemme get a dollar

[@DarkPassenger]

@@Onehitwonder828 Well if you're making 100k a year and having money issues it's because of the stupid decisions YOU'VE made.

[@Onehitwonder828]

@@DarkPassenger Not the point of my comment, but o.k.

[@Alpha-Scythe23]

@@Onehitwonder828 what you do for work good sir

[@thebighousencaaattendancer478]

I bet most of these people living check to check on 100k+ a year live in expensive places like California or New York. My wife and I have three kids, a household income of 130k and were living check to check in San Diego. We both work from home, so we sold our San Diego house for 1.1 million and bought a house more than twice the size in Texas for 350k. Now we live comfortably with money left over. It's about location.

[@mocheen4837]

They are also paying for mortgage, childcare, insurance, car payment, retirement, college savings and taxes.

[@keropi193]

My history teacher said workers can only be pushed around so much for so long before *something major happens.* The best way to speed up that process is to mess with the middle and upper middle class households.

[@androidfanatic6528]

What's rarely mentioned is the size of the household. Currently a one income family of 6 with a 2 year old being looked after.

[@BigTroubleD]

Reasons why so many of us don’t want jids

[@adammorra3813]

@@BigTroubleD im making 170k and cant even afford myself

[@Naomi-xu4hq]

@@adammorra3813because your standards are through the roof. You probably want a large apartment that you don’t need, a $50K+ vehicle, and eat out/get expensive clothing all the timr

[@stevenliang3213]

@@Naomi-xu4hq Why do you make assumptions about others? Learn to think before you type

[@rabidgoon]

having 4 kids is irresponsible and you're dealing with your irresponsibility.

[@samuelramirez4774]

It’s not an income problem, it is a financial illiteracy problem.

[@sierrasix4068]

My wife and I make about 100k, and yes, we live nearly paycheck to paycheck. I blame rent and vehicle prices.

[@chrisbaker2669]

You are not being intentional with your money. I know people making less than half your income with a 100,000 in savings. Learn to budget.

[@merrymaurader2521]

@@chrisbaker2669 I agree

[@markbeer7422]

@@chrisbaker2669 I love you Chris

[@dec1slh]

Blame yourself, who told you to purchase vehicles that you can't afford

[@Jennifer-1724]

@@dec1slh right...

[@rpgeek22]

If you make over 100k and don't live in California or New York and still live paycheck to paycheck then it is your fault. You almost certainly have a car payment you don't need, go out to eat constantly, buy clothes you don't need, and love beyond your means.

[@citrineforme]

Or you pay the equivalent to a second mortgage for childcare.

[@alexwinstead9977]

we found another person who doesnt make 100k but wanted to speak yall just be talking anyway cost of living is high in more places than those 2

[@bharris4517]

You forgot D.C.!

[@franktalksmoney]

I absolutely agree 👍

[@Naomi-xu4hq]

@@alexwinstead9977we have people making $60K doing fine, if you’re making triple the median salary ($35K) and still living paycheck to paycheck that is due to your own expenses

[@jeffreysmith4586]

I really don't understand how so many people have difficulty not spending money. You only buy what you really need, and when you do buy what you need you spend the time to look for the best deal possible. Most people could easily save a hundred dollars or more a month just by switching their phone service provider and insurance. I have a neighbor that spends money on stupid things and then complains that he has no money!

[@aerodynamicist4]

In California, a $100,000 gross income gets reduced to roughly $70,000 after income taxes, social security, medical insurance, etc. The poverty level in my region (southern California) for a single person living solo is about $60,000. Yes, a $30/hr job is hypothetically what it takes to live single and not be considered "in poverty"

[@davidr6865]

You can thank all of the taxes and unnecessary fees in your state

[@Godfavorsmi]

The more you make the more they take ! $100k is nothing in 2023

[@MM-yz7fz]

$100,000 after taxes is not that much. Also inflation has made living horrible.

[@maxinef6654]

It’s not how much you make, it’s how you manage it.

[@terriej123]

So math has nothing to do with it?

[@raymamba1962]

@@terriej123 I think he meant to say its not what you make its what you spend lol

[@Theworldsboro]

Living here in NY I see plenty people living check to check on 100k. Luckily I bought my house 6 years ago and I only made 60k back then. I make over 100 and live below my means. 20 mins outside of all the transplant neighborhoods

[@adammorra3813]

So u got lucky buying ur house years ago

[@User12345fan]

@@adammorra3813 no he didn’t get lucky, he had balls and took the risk. Which you can do today too. In 10 years you’ll tell the people of today they got lucky they bought too

[@adammorra3813]

@@User12345fan i dont have money to buy, houses in my area start over 600k for a little 2 bedroom house. There is such a thing as inflation and declining real wages. Someone who went to college in the 70s and 80s working a summer job is different than today and its the same for housing.

[@realistically9091]

That’s because they have families , if your single with 100k a year, that’s a lot and good for single person

[@realistically9091]

@@User12345fan Adam is right, he did get lucky by buying way before. Houses were way cheaper with siniliarily paying jobs lf today. Now houses prices tripled the last decade or so. No point in buying houses unless you make 100k a year then you can save 50k every year, but if you make below 100k, good luck trying to save for a hosue, gonna take 10 plus years lol

[@patriciawelsch3199]

My best friend works 100k a year, lives with her father and hasn’t saved a cent. Between student loans, car loans, food costs and just living. It’s made it impossible for her to pay her credit card

[@ViolentMLG]

That's just irresponsible. Food should cost no more than $500/Person MAX if you're just using your brain. Student loans are no more than $500/month for most. Car loans are 1: Not needed, but 2: Can cost $700-$800 after insurance is paid on an economy car. That's $2000, where the other 6-7K/Month goes is to non-sense land. If you're an American making 7-8K/Month and living paycheck to paycheck, you're doing something wrong. That women could buy rental properties and be worth a million in 5 years at that rate. High cost area? Move. Don't buy absurd expensive cars or homes. Don't buy things you don't need. Straight forward, that's sad.

[@molarrr]

These other idiots don’t get it. But I do, I know it adds up, I’m in the same situation but I have a apartment and a family. 100k plus just anit a lot anymore.

[@letsgetit3890]

Maybe she should eat at home instead of restaurants and buy an older car with cash rather than taking out a loan? If she still lives with her parents making 100k and is still struggling she has a huuuugeee spending problem.

[@maynardewm]

People definitely need to understand that in high cost of living cities, $100k is nothing. In LA/NYC/SF, you can't even afford to rent your own apartment with $100k. And it's getting worse and worse every year, with rent prices going up $500-$1000 every year and wages aren't increasing to match that. Every year I have to choose between having less money to spend or moving into a smaller place, or a place that's farther away and having a longer commute. My raises can't keep up anymore. State taxes are bleeding me dry too, now with CA at 13% state income tax, even with a salary over $100k, all I spend money on is food and rent, and I don't have much left over after that.

[@ennuiblue4295]

Leave while you can, OKC is filling up fast, raising housing costs along with it

[@A22DNAL]

I hear you but I really hate to hear people make it sound like this is JUST a California thing. This is an EVERY STATE issue. The cost of living is simply exponentially higher than income/wages.

[@Cahluvca]

13%....ugh

[@terriej123]

Yet rich people get to pay zero in taxes.

[@A22DNAL]

@@Cahluvca yeah, no one in this comment thread is remotely on that earnings bracket but nice try tho.

[@alansach8437]

I make half that and don't live paycheck to paycheck. Living paycheck to paycheck is a choice if you make that kind of money.

[@theeevolone]

Exactly. I make under half of that, but I live below my means and frugally, and I’m still able to save.

[@hawkeyebricks9905]

I make that and have 4 kids and my wife is a stay at home mother. I don't live paycheck to paycheck but it's mainly because my mortgage is pretty cheap. But as soon as I upgrade my house the budget will get much tighter.

[@qq1651]

@@hawkeyebricks9905 Well, that is simple! Dont increase your mortgage. Save for improvement on the house you now own and make it work. Your kids dont HAVE to have their own bedroom and personal bathroom. As long as everyone fits around the eating table, there are enough places for everyone to sit to watch TV and a bed for each person to sleep in, you are in heaven! When your 4 kids move out, you will be hundreds of thousands of dollars ahead for not moving up "with the jones". Just keep on, keepin' on and be content and have gratitude for what you have.

[@pamelahawk6330]

What no one seems to think about is 100k in some areas goes further than in others but Federal taxes do not consider where you live. Cost of living in Hawaii, California, Oregon Washington, etc is higher than most places in places like Alabama, Pennsylvania, North Carolina, West Virginia, etc.

[@trailerhaul8200]

100K is new minimum wage these days in some HCOL areas.

[@baldeagle4710]

100K is considered "low income" in Northern California.

[@yaydog2702]

$100k is not minimum wage wtf

[@wolfpackflt670]

I blame the school system. If personal finance was taught in school (high school) this kind of thing would be almost non existent. On top of that imagine if they taught you how to file your taxes.

[@927Cole]

Hit 102K this year after getting my degree.... feels like I'm still in the same spot when I was making 40k 2 years ago

[@devonpozniak9013]

Same.

[@nftloser5030]

Welcome to inflation in 2023. Your 100k in 2023 is more like 60k in 2012

[@cantgetbettathanthis]

Omg I promise. With all that hard work finishing school and getting several good raises, it still seems like it didn’t make a difference at all. SMH

[@vindersingh25]

Not spending even when you can is essential.

[@A22DNAL]

And that is just a very sad way to live. Super frustrating.

[@joshstewart1649]

I make 120k a year and live paycheck to paycheck but have only been making that much for less than a year. I admittedly have not managed money well or invested as I should have been. I am now finally working towards paying off high interest debt and investing aggressively. I do believe issues are both with people not having the knowledge or discipline to manage their finances well at an early age and something children should be taught through out their school careers lessons in personal finance. There are real economic and societal issues of wage stagnation, high inflation and costs of college education, healthcare, etc far outpacing wage increases. It’s why I left my last job. I got a 3% raise while inflation was at nearly 9% effectively decreasing my purchasing power by 6%. That’s not sustainable.

[@celieboo]

This is an excellent, very mature comment. Everything isn't black and white. I wish everyone would stop acting like our system as a whole is very broken. The middle class is getting wiped out by corporate greed and the lack of effective policy by our government.

[@bane3991]

The only person who owns responsibility instead of blaming the economy. Good on you.

[@Sleepy4life]

I make over 100k. I dont own any new car. My TAKE HOME PAY is 72k after taxes alone not to mention , Insurance benefits cost. Add in all my utility's have gone up 20% in the last year. Simple fact is the COST TO LIVE IN GENERAL in this country is out of wack. #TRUTH

[@swong705]

I live in NYC. It's not easy but I wouldn't live anywhere else. I was born and raised in NYC. I've visited other places and I just don't feel the vibe is for me. I just have to live frugally. Eating out is a no-no, for the most part. I bring breakfast and lunch everyday. I stuff a few weeks of laundry in the machines to save a little money. I buy generics. I have a 2007 car. And this is how it looks for a 6-figured salary person in NYC.

[@beth3535]

You make it look good! Smart living?

[@zephyrr108]

I mean, as a Brazillian, I would like to visit NY for sure but why you want to live in an overcrowded place forever?

[@swong705]

@@zephyrr108 I mean there are places way more crowded for example Tokyo or Hong Kong. Why do people live there? There are places very high in crime and homicides and there are people who live there too. Everyone has preferences.

[@kianna270]

You never eat out in nyc??? How do you resist it!! Omg I would be sacrificing a car to be able to eat out but that’s my personal opinion 😂

[@swong705]

@@kianna270 Not never but it's not often. I would never go out just for a sandwich 🥪 that I could make. I do not work near anything I would want to eat. Dunkin Donuts is not that interesting to me. I live near a Chipotle, BK, McDonald's and KFC. Also not my jam. My lunches and breakfast are better than the food around my job.

[@SamBass]

Imagine if people not only lived below their means but also put money away for their own rainy day fund 🤔

[@MrThe1234guy]

6 figures is not what it used to be.

[@MB-xv7er]

I don’t feel bad for six figure earners lol there’s people struggling with a lot less

[@adammorra3813]

They live with their parents, try having a family on 100k u will be poor eating ramen and napkins

[@MB-xv7er]

@ Adam Morra Having kids is a choice. I still don’t feel bad. I also know people making 100k that don’t live with their parents and they are doing just fine

[@catholicfaithofmine2664]

@@adammorra3813 what? I live on way less than that and I hardly eat Raman.

[@vicentegonzalez5431]

@M B yeah having kids is a choice but being born isnt ? Do you see where you fit into this now?🤣

[@martinlutherkingjr.5582]

It really depends on where you live. Some places you need only $20k to live but others it’s $200k for the same lifestyle.

[@Pinoyguitarist5]

Depends on each person's situation and external factors. 100k to one person is enough, but for other's it might not be. I used to judge someone by how much income they make, but sometimes that doesn't tell a picture of their financial situation. It unfair to judge somoene who is making 100k and is paycheck to paycheck as they are spending too much. I know because I reached it, and even though I'm not paycheck to paycheck i'm not as confortable as some people imagine because of external expenses and life situations.

[@terriej123]

I fully agree.

[@demonking-pk3by]

only way 100k isnt enuf is if your trying to live outside your paycheck like it or not

[@Pinoyguitarist5]

@demonking44321 not necessarily, add in student loans, supporting parents/family, health issues, kids(daycare), etc and whatever life situations someone has and it's can add up. They could not even not be having fun and not buying stuff. 100k after taxes doesn't go as far as popular belief make it look.

[@daltonvanhorn5167]

you can make any amount of money and live paycheck to paycheck, it's a statement on consumerism as much as the economy

[@hermanrogers1325]

Somebody is not managing their money right,but it is easy to live above their means even if they are 6 figure or 7 or 8 figure salary or more

[@j7cars182]

"Rich people buy assets...Poor people buy liabilities...and the Middle class buys liabilities they think are assets"-Robert Kiyosaki!

[@adammorra3813]

Stdu

[@francismarion6400]

40k on a new side by side or boat. Then it needs repairs. Money spends sooooooo easily. It's why the old biblical saying goes, " a fool and his money, soon depart!"

[@User12345fan]

Read that book 6 years ago I am at a half million net worth now

[@j7cars182]

@@User12345fan awesome job 👍

[@caesar90291]

BS king

[@aamirbadershah887]

Living happily with $30k annual income and no debts

[@gary4334]

It's not what you earn. It's what you keep.

[@BigJohnson911]

I make $115K and live paycheck to paycheck.

[@bobbymeyerti9300]

It’s because the wealthy aren’t paying their fair share.... paying for the wealthy to be on welfare

[@yvonneplant9434]

Unless your housing is expensive you shouldn't be.

[@justincarrizales1206]

How ?

[@arain764niara]

So imagine making $60k, it's probably your lifestyle

[@alooga555]

You have a spending problem like the government.

[@getinthespace7715]

I make over $100k, it feels like I'm living paycheck to paycheck but "technically" I'm not. Have a $1k emergency fund, cash flowing nursing school for my wife, she just had major surgery and isn't working yet, paying off debt, maximizing employer retirement matches. Zero left for discretionary spending for the next few months. Prices are nuts interest rates are high so we just cut our spending right off for now. Goal is debt free in 8 months.

[@liquidmagma]

Sounds like you're doing it right.

[@beth3535]

You’re working your plan. So smart (and disciplined).

[@pawdre5151]

A 6 month emergency fund seems more safe in this economy. Keep up the goal ! Debt free!

[@ExcMARK20916]

$100K a year isn’t what it used to be.

[@CaraMarie13]

If you live in a big city and live alone, making $100k can put you on that paycheck to paycheck trend. And let's not pretend like we don't know people in the country are overflowing with financial literacy.

[@Lady.Luck.]

Family size is a huge factor to consider with that. If you make 100k with a family of 4.. your cost of groceries, healthcare, etc is pretty high. If you make half of that you probably qualify for free health insurance and FoodShare so you're actually being propped up almost the same

[@sinepari9160]

I was making 60k back in 2000.. a luxury condo was $800 month, phone 40, cable 40 and a brand new truck was $40k.. homes were $200k these people are bananas...

[@14uncfans]

Lol someone's living above their means. Heck if I made 100k I'd be rich and enjoying life with ease.

[@leonardojimenez2415]

Thank god I found Dave Ramsay when I was 19 now fast forward I’m 23 and have 2 cars paid cash, 10k in emergency funds, ZERO DEBT, 15k in 401k and I make 75k a year and no HS diploma 🙏🏻

[@hellasow]

If you living paycheck to paycheck making 100k you are over spending!!!