Is 100,000$a year a high income in the year 2013? (debt, highest, average)
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100,000$ use to be some grand number growing up. It seems like making 100,000$ is slightly above average. A million doesn't even seem like a lot. To buy a brand new Nissan maxima fully loaded is 44,000$. That's just a car.. It's not even a luxury one.
It just seems everything is inflated food, taxes, gas, rent etc. etc.
I think I read somewhere that the new average income is 52,000$ a year.
The fact of the matter is that $100,000 a year doesn't provide you with that much buying power anymore, but it is still very hard to get someone to pay you $100,000 or more per year.
What is your source that states the average income in The USA is $52,000 a year?
If you want to live a decent lifestyle, an income of over $100,000 a year for a family of four is almost mandatory in a city like Chicago. Depending on the lifestyle you want to live, the number is probably closer to $200,000 a year.
If I can earn $250,000 a year tied to inflation for the rest of my life, I think I will be fairly content.
OP is confusing the statisical rarity of high incomes with the often very different traps of "high living" that are increasingly highly visible in our very much marketing driven world. Fact is an income of over $100k is quite rare statistically but prudent people with that sort of income likely are not driving brand new exotic sports cars, covering themselves in costly luxury clothing / jewelry, nor are they buying homes with insane price tags...
If one does live in an area where there are homes that have price tags deep into the seven figures and car dealers with six figure vehicles all shined up for sale / lease one had better have an even rarer / higher income unless drowning in debt is part of your future...
OP is confusing the statisical rarity of high incomes with the often very different traps of "high living" that are increasingly highly visible in our very much marketing driven world. Fact is an income of over $100k is quite rare statistically but prudent people with that sort of income likely are not driving brand new exotic sports cars, covering themselves in costly luxury clothing / jewelry, nor are they buying homes with insane price tags...
If one does live in an area where there are homes that have price tags deep into the seven figures and car dealers with six figure vehicles all shined up for sale / lease one had better have an even rarer / higher income unless drowning in debt is part of your future...
I agree with this. City Data is not a good place to seek accurate information regarding this due to the following:
1.) People tend to lie about how much they earn. (If I say I earn $1,000,000 per year, who here can prove otherwise?)
2.) People that earn more money tend to talk about it as a means to brag and make themselves feel good. ($100,000 a year is not a high income, I earn $120,000 a year and still struggle!) If you are struggling on $100,000 a year, you are either a idiot when it comes to personal finance, or you just want to brag about how much you earn without coming off as a complete pompous arse.
I agree with this. City Data is not a good place to seek accurate information regarding this due to the following:
1.) People tend to lie about how much they earn. (If I say I earn $1,000,000 per year, who here can prove otherwise?)
2.) People that earn more money tend to talk about it as a means to brag and make themselves feel good. ($100,000 a year is not a high income, I earn $120,000 a year and still struggle!) If you are struggling on $100,000 a year, you are either a idiot when it comes to personal finance, or you just want to brag about how much you earn without coming off as a complete pompous arse.
I take offense with this sentence.. My wife and I earned just shy of $100,000 before I retired and we struggled.. We have custody of 3 small grandchildren and they need a miriad of things..
Not only that there is health care for all of us, a bigger place to live in which costs more, clothes, utilities go up with more people, etc, etc, etc....
So while you may think i am an idiot or a braggert, I am neither....
OP is confusing the statisical rarity of high incomes with the often very different traps of "high living" that are increasingly highly visible in our very much marketing driven world. Fact is an income of over $100k is quite rare statistically but prudent people with that sort of income likely are not driving brand new exotic sports cars, covering themselves in costly luxury clothing / jewelry, nor are they buying homes with insane price tags...
If one does live in an area where there are homes that have price tags deep into the seven figures and car dealers with six figure vehicles all shined up for sale / lease one had better have an even rarer / higher income unless drowning in debt is part of your future...
That's my point. You can't live a luxurious life on a 100K income. You still have to be frugal with your spending. That's why 100,000$ doesn't seem like a lot of money. Key word being "a lot".
I take offense with this sentence.. My wife and I earned just shy of $100,000 before I retired and we struggled.. We have custody of 3 small grandchildren and they need a miriad of things..
Not only that there is health care for all of us, a bigger place to live in which costs more, clothes, utilities go up with more people, etc, etc, etc....
So while you may think i am an idiot or a braggert, I am neither....
Sorry, I should of clarified and said $100,000 per year if you are single with no children. $200,000 per year total household income if you have a family of four.
It really comes down to the lifestyle you chose to live too. Do you live in a very expensive area? If you are struggling than maybe you shouldn't be living there? Do you buy new luxury cars, clothing, jewelry, and merchandise?
The majority of people out there earn less than $100,000 a year and still manage to rear a family. There is also a big difference between want and need.
That's my point. You can't live a luxurious life on a 100K income. You still have to be frugal with your spending. That's why 100,000$ doesn't seem like a lot of money. Key word being "a lot".
No one here said that you could??
Like I said before, $100,000 doesn't offer you "a lot" of buying power, but it is still very hard to find someone to pay you $100,000 or more per year.
The people with the money and power want to pay you as little as possible so they have more for themselves.
The fact of the matter is that $100,000 a year doesn't provide you with that much buying power anymore, but it is still very hard to get someone to pay you $100,000 or more per year.
What is your source that states the average income in The USA is $52,000 a year?
If you want to live a decent lifestyle, an income of over $100,000 a year for a family of four is almost mandatory in a city like Chicago. Depending on the lifestyle you want to live, the number is probably closer to $200,000 a year.
If I can earn $250,000 a year tied to inflation for the rest of my life, I think I will be fairly content.
"Regionally, in 2010, the Northeast reached a median income of $53,283, the West, $53,142, the South, $45,492, and the Midwest, $48,445.[SIZE=2][50][/SIZE] Each figure represents a decline from the previous year.
While median household income has a tendency to increase up to four persons per household, it declines thereon after. This indicated that while four person households have larger incomes than those with one, two or three members, households seem to earn progressively less as their size increases beyond four persons. According to the US Census Bureau 2004 Community Survey, two-person households had a median income of $39,755, with $48,957 for three-person households, $54,338 for four-person households, $50,905 for five-person households, $45,435 for six-person households, with seven-or-more-person households having the second lowest median income of only $42,471.[SIZE=2][51][/SIZE]
In terms of race, Asian American households had the highest median household income of $57,518, European-American households ranked second with $48,977, Hispanic or Latino households ranked third with $34,241. African-American or Black households had the lowest median household income of all races with $30,134"
Another common measurement of personal income is the mean household income. Unlike the median household income, which divides all households in two halves, the mean income is the average income earned by American households. In the case of mean income, the income of all households is divided by the number of all households.[SIZE=2][53][/SIZE] The mean income is usually more affected by the relatively unequal distribution of income which tilts towards the top.[SIZE=2][48][/SIZE] As a result, the mean tends to be higher than the median income, with the top earning households boosting it. Overall, the mean household income in the United States, according to the US Census Bureau 2004 Economic Survey, was $60,528, or $17,210 (39.73%) higher than the median household income.[SIZE=2][54][/SIZE]
“"Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. The means and medians for households and families are based on all households and families. Means and medians for people are based on people 15 years old and over with income."[53]
-US Census Bureau, Frequently Asked Question, published by First Gov.”The US Census Bureau also provides a breakdown by self-identified ethnic groups as follows (as of March 2005): Mean Household Income by Ethnicity[54]Ethnic CategoryMean Household IncomeAsian alone$76,747White alone$65,317Hispanic or Latino$45,871Black$40,685
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. It's not even a luxury one. 
