MORE AMERICANS ARE LIVING PAYCHECK-TO-PAYCHECK, EVEN THOSE EARNING MORE THAN $100,000.

[Darth Nubian]

Ya'll will understand once ya'll make 100K. If you putting money into your retirement, kids college funds, a mortgage, notes, various insurances, and ETFs you be tapped out. You basically in the same position as someone making 40K but living at home with their peoples.

 

[Spectre]

Nah only places that pay 100K on average are high cost of living (HCOL) cities.

Nice respectable 1 BR condo in good neighborhood easily runs 2K+ a month
Add a lightly used if not new nice car with good tech that wont cost much maintenance
Add lower tax refund if any (HR Block mean mugging U)
Add putting money away for 401K and insurance
Add dating in the city

You start understanding why people stay inside more

 

[69 others]

Ya'll will understand once ya'll make 100K. If you putting money into your retirement, kids college funds, a mortgage, notes, various insurances, and ETFs you be tapped out. You basically in the same position as someone making 40K but living at home with their peoples.

Nahhh them investments gonna pay off in the future. Someone making 40k have have no offramp from the rat race

 

[Spectre]

Ya'll will understand once ya'll make 100K. If you putting money into your retirement, kids college funds, a mortgage, notes, various insurances, and ETFs you be tapped out. You basically in the same position as someone making 40K but living at home with their peoples.

Facts

But some are smart with it though. The well off white kids in biotech pinch every penny and live in small apts in the city and throw the rest into 401ks, savings, and travel

One kid I know 2 yrs out of college making 120k+ drives old af subaru and lives in the tiniest apt with roommates.

 

[chineebai]

The more money you make the more you have to spend. There is a very small number of people that make money but live frugally, especially in this consumerism economy we have. Sure you can make 100k, live in a shytty tiny apartment or at home with your parents. Once you make more money you’ll want to upgrade your lifestyle.

 

[King Poetic]

A lot of the ones making 100k a year are living beyond their means

I’ve seen here in LA motherfukkers paying a average of $1800-$2500 in rent, got the latest 2021/22 vehicle, utilities, car insurance and college loan payment and even worse buying all these clothes and shoes and eating out everyday just so they can say they living that Hollywood life

I know NY and the bay is even worse

 

[MJ Truth]

Where are they making that 100k though? 100k in Texas and 100k in Cali are two different 100ks. If you're making 100k in New York you're pretty much only making 50-60k

Are these families or single people?

50k for a single person is enough for sure.

 

[dora_da_destroyer]

This beyond sad... If your able to make 100k and can't live something is seriously wrong with YOUR spending habits... I'm sorry... I can't fathom how you make 100k after taxes and still struggling...

because maybe you need to get rid of the outdated notion that $100k is a lot of money for every circumstance. a person making $100k could not afford to buy a home out here, a person making $100k with a kid will struggle to pay rent + utilities + buy food and pay the average $1500/month day care costs...a person making $100k with $30-50k in student loans is going to be check to check after bills....$100k is only good money in a med-low cost of living metro and you don't have any debt

 

[Originalman]

All I know is when I opened this thread and read the article.

 

[Shadow King]

That's exactly it. The spending. I know on the coli $100K isn't real money and is barely surviving, but that is horse shiit. $100K is great money anywhere, it just depends on your spending habbits.

As millennials, we notoriously live above our means. Expensive apartments, cars, trips, hotels, food etc... all contribute to living paycheck to paycheck. I've had to loan money to a couple of friends who make more than me. Smh

No

 

[O.T.I.S.]

I’m one of them

Savings is cool but i mean… 4k in bills too still

Taking 1/3 of my check in taxes doesn’t help too either

 

[TheGreatMTB]

Are these families or single people?

50k for a single person is enough for sure.

That's what living paycheck to paycheck is...enough.

After federal taxes
state taxes
rent
groceries (damn near all dairy just jumped up in price)
gas (expensive as a mf)
retirement savings
car insurance
health insurance
renters/property insurance
car note
benefits
car maintenance (and not every area has a solid bus/public transportation system)
electricity
water
internet
school loan repayments


Even for a single person that 50k gets ate up pretty fast. A lot of Americans living paycheck to paycheck isn't an absurd concept at all.

 

[dora_da_destroyer]

take home pay for $100k in oakland - 5900/month (pre 401k and healthcare contribution)

401k @ 10% - 800 - you need to save for retirmenet because nothing is waiting on you, pensions are gone
health care - 200 - this is a lowball estimate, you're doing good if you only have to contribute 200/month for your healthcare

Now we're at 4900 take home

Avg 1bd - 2500
Utilities (gas & electric) - 200
Water - 100
Internet - 100
Car note - 400
Insurance - 150
Gas - 250
Cell phone 100
Groceries - 300
Credit card - 250

you're at 4300 right there and i didn't give this person subscriptions (spotify, netflix, etc) or cable, student loans, clothing allowance, child care/school expenses, savings, etc

people really are out of their minds to think $100k can't possibly be paycheck to paycheck, no one said $100k is poverty or a shyt life, but it's not some amount that means you've got excess in your checking account at the end of each month

 

[Spectre]

y'all gotta understand only 15-18% of americans make over 100k

So when u say 100k ain't cutting it lime it used to, 80% of America is looking at you like

But forgetting how much inflation and costs have risen

 

[2 one 3]

I’m one of them

Savings is cool but i mean… 4k in bills too still

Taking 1/3 of my check in taxes doesn’t help too either

My rent kills my shiit…