Is $60,000 a year for one adult decent (taxes, account, income)

[John hagge]

No I don't make this much so I not bragging, but I was just wondering if this would be considered at least a decent income for only one adult in the U.S

[chet everett]

In all but the most expensive parts of the country that is pretty solid income for a household let alone one person: Household income in the United States - Wikipedia, the free encyclopedia

[jobaba]

Originally Posted by John hagge

No I don't make this much so I not bragging, but I was just wondering if this would be considered at least a decent income for only one adult in the U.S

Depends.

How old are you and making that? 28 or 56?

Is it the peak for your position and type or near the median? You could have no college education and be making 60K in a good year selling used cars, or you could be making 60K starting as a Mechanical Engineer for an automobile company. One has a great potential to keep that income steady and rising for a career. The other does not.

So, yes, it is a good income for one person. But it's more about being able to sustain that amount and raise it as you gain more experience.

[oneasterisk]

60K a year is more than the national median average, though that doesn't take into account your lifestyle or debt to income ratio.

[GeorgiaTransplant]

Slacker. You should be shooting for much more than that-about $400,000 a year. What Is Your Annual Income After Taxes?


(/sarcasm off-$60K is pretty decent for a single guy in most parts of the country; it's also enough to raise a family in most parts of the country, but you won't be living large)

[Retroit]

Yes.

[move4ward]

$60k/yr is workable, if the cost of living is low and you have no student loans. You also have to consider retirement contributions. If you sock away 6% for a 401k and another $5k for an IRA, it will be more like $51k/yr.

[smitity]

For one person, not supporting anyone else, that's good for just about any part of the country. Obviously how good it is depends on the cost of living in your town. Once you throw in supporting a family, it may become dicey, again depending on where you live.

[GregW]

Only if you avoid whiskey and women. If you don't $600,000 is not enough.

[hershey48]

If you have low to no debt and no kids, I think you can live well on that.