Especially with how inflation is
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02-08-2023, 11:46 AM #1
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02-08-2023, 11:48 AM #2
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02-08-2023, 11:49 AM #3
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02-08-2023, 11:50 AM #4
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02-08-2023, 11:55 AM #7
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02-08-2023, 11:56 AM #8
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02-08-2023, 11:56 AM #9
Depends on where you live.
In my area the 2021 MEDIAN HOUSEHOLD income is like $60k. The 2021 AVERAGE HOUSEHOLD income is closer to $88k. Median monthly owner costs if you have a mortgage are just over $1700/mo. So if you make $200k in my area you could theoretically support more than 2 families by yourself. That's amazing.
TBH I Googled it and I'm surprised to find in 2021 the MEDIAN HOUSEHOLD income is still only like $77k in Los Angeles. Average is closer to $101k. Meanwhile the median monthly owner costs if you have a mortgage are roughly $3k.
So this means that in LA, even though you "should" make like 15-20% more than in my area, your costs are nearly double. This takes away from the power levels associated with the $200k/yr income.i7-14700k
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Everything I write is NOT financial advice.
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02-08-2023, 12:05 PM #10
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02-08-2023, 12:09 PM #11
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02-08-2023, 05:02 PM #12
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