What's the new "$100K" mark?

[shenjingbing]

This is quite an interesting forum so I decided to stop by and say hello. I think my question might have been asked and answer before, so please spare me the "repost".

Anyways, long ago (well, not really that long) if you have a salary of $100K a year, it's condering good. Now I think $100K is barely getting by in Southern California. So what's consider a new $100K mark for this day and age?

 

[necine]

Well that depends on the area... All I know about So-Co is real estate is rediculously expensive.

 

[swtethan]

thats southern california...

i would like 100k a year please

 

[Feldenak]

$100k/year in my location and I would be living like a king.

 

[HN]

i'm in SoCal and i'll still take 100k.
who's considering 100k as "barely getting by"?

 

[Sparke]

My roommate from college is an industrial engineer in So-Cal making 50k a year. I thought that was really good until he told me what it costs to live there. I'm making 30k a year in Ohio and saving more money than he is.

 

[Heisenberg]

$100k is still well above the average family income here in the flyover states.

 

[mk52]

$150k-$200k to live confortable in nyc

 

[FoBoT]

$100K is still plenty good in the midwest
i'd love to hit that while i live here in the next 20 years

 

[PlatinumGold]

in NJ/NE Philly area, it's hard to buy a new home, have a couple of car payments, pay insurance etc on less than 100k / year

seriously, homes are seriously expensive these days. you can't get anything decent for less than 500k and that's just decent. if you want a nice home, if you want a new home, you are looking at over 700k just for the house.

then you add payments for 2 new cars. insurance for cars, home etc. and you are looking at 5k to 6k in payments alone.

 

[AMDZen]

Originally posted by: shenjingbing
This is quite an interesting forum so I decided to stop by and say hello. I think my question might have been asked and answer before, so please spare me the "repost".

Anyways, long ago (well, not really that long) if you have a salary of $100K a year, it's condering good. Now I think $100K is barely getting by in Southern California. So what's consider a new $100K mark for this day and age?

Yea for southern Cali. You can't really talk about anything in California and have it relate to the rest of the world.

 

[Vic]

Originally posted by: Heisenberg
$100k is still well above the average family income here in the flyover states.

$100k is still well above the average family income even in the Bay Area, Southern California, and NYC.

 

[HN]

i think i get it. it's the term "barely getting by" that's taken on new definition.
reminds me of the guy i overheard while waiting in the potential juror lounge:
"i can't take a week off to do jury duty because my company doesn't pay me for the week and i'll have trouble paying the mortgage and 4 car payments" :roll:

 

[gigapet]

Originally posted by: HN
i think i get it. it's the term "barely getting by" that's taken on new definition.
reminds me of the guy i overheard while waiting in the potential juror lounge:
"i can't take a week off to do jury duty because my company doesn't pay me for the week and i'll have trouble paying the mortgage and 4 car payments" :roll:

r u assuming all the cars are his?

 

[SampSon]

Southern California in no way represents reality in the rest of the nation.

 

[zanieladie]

WOW! I have no idea (in reference to the OP's question); however, I'd like to be making evern 1/2 of that!

 

[Vic]

Originally posted by: HN
i think i get it. it's the term "barely getting by" that's taken on new definition.
reminds me of the guy i overheard while waiting in the potential juror lounge:
"i can't take a week off to do jury duty because my company doesn't pay me for the week and i'll have trouble paying the mortgage and 4 car payments" :roll:

You got it. A large number of people nowadays live on the very ragged edge of debt. Literally one missed paycheck from financial disaster. The odd thing (at least to me) is that this is considered normal. It's not.

 

[HN]

Originally posted by: gigapet

Originally posted by: HN
i think i get it. it's the term "barely getting by" that's taken on new definition.
reminds me of the guy i overheard while waiting in the potential juror lounge:
"i can't take a week off to do jury duty because my company doesn't pay me for the week and i'll have trouble paying the mortgage and 4 car payments" :roll:

r u assuming all the cars are his?

no. one was his, one for his wife, and one for each of the kids.

 

[NanoStuff]

I live in a closet for $400/month. If prices keep going up like this I'm gonna have to move into a shoe box.

 

[Descartes]

Originally posted by: SampSon
Southern California in no way represents reality in the rest of the nation.

What he said.

 

[PHiuR]

makes me want to work in the US for ten years then move to a foreign country to live for the rest of my life.

 

[AMDZen]

Originally posted by: HN
i think i get it. it's the term "barely getting by" that's taken on new definition.

So very, very true.

Take platinumGold's comments for instance

then you add payments for 2 new cars.

Chances are those two new cars are high dollar. But if there not, god forbid you should have to settle for a *gasp* used car or *gasp again* a used house.

 

[Demon-Xanth]

Originally posted by: NanoStuff
I live in a closet for $400/month. If prices keep going up like this I'm gonna have to move into a shoe box.

I live in a 1 bed apartment for $710/mo. (Sacramento)
My cousin lives in a studio for $1050/mo. (SF)

$400/mo? I'll take it!

 

[shenjingbing]

Originally posted by: PHiuR
makes me want to work in the US for ten years then move to a foreign country to live for the rest of my life.

You and me both buddy, preferably some far east countries.

But yeah, if you don't have debts, then $100K is comfortable. Considering the financial obligations to get you to that $100K job, and have to pay it back. You don't have to live extravagantly to just barely getting by. I think it's all relative really, but with the cost of living in SoCal, I wonder how other people are getting by sometimes.

 

[AMDZen]

Originally posted by: Demon-Xanth

Originally posted by: NanoStuff
I live in a closet for $400/month. If prices keep going up like this I'm gonna have to move into a shoe box.

I live in a 1 bed apartment for $710/mo. (Sacramento)
My cousin lives in a studio for $1050/mo. (SF)

$400/mo? I'll take it!

Things average out. People in SoCal pay more for housing, and most everything else. But they also make a lot more on average. For the most part, cost of living and income average out no matter where in the US you live. So you can get that apartment for $400 a month, you'll just have to cut your income by the same percentage.