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Those getting an "average wage" are not outliers, those getting a good or great wage ARE outliers.
Not really, but I suppose it depends on how you define "great wage".
Quote:
Originally Posted by Randomdude
The problem is, the "average wage", about 41k, is hardly liveable in most of the country.
I could live just fine on $41k in most areas of the country, in fact I can do it here in the Los Angeles area.
Quote:
Originally Posted by Randomdude
...Alabama, 41k isnt getting you more then a small apartment in a questionable area, with mostly just the basics and very little to no savings.
Someone could afford a decent apartment in a decent area in most of Southern California, if you go inland they can afford a house. Most Americans seem to have an odd notion of "basics", iphones, full-cable packages, etc are not basics. Someone in this area could afford "the basics" and still have a good $400~$500 to save each month. But the cost of living here is well above the national average, someone living in say a Texan city would likely have a good $700~$800 extra a month and it gets a lot cheaper than Texas too.
The median Orlando home price is about 240k, and the median rent is about 1,000. So, the median house is completely out of the price range of 40k guy, and the median rent would strap him badly.
Where the heck are you getting your data? The median sales price for a house in Orlando is around $100 K. Even the nicer neighborhoods are in the $160-200 K range
A $40 K salary is VERY doable in Orlando. The general rule of thumb is that you can afford a house that is 4-5x your salary. With mortgage rates as low as they are now, it's probably even higher than that.
A $40 K salary is VERY doable in Orlando. The general rule of thumb is that you can afford a house that is 4-5x your salary. With mortgage rates as low as they are now, it's probably even higher than that.
The general rule is 3x salary, 4~5x would be a burden. Your front end ratio should be below 30%.
Where the heck are you getting your data? The median sales price for a house in Orlando is around $100 K. Even the nicer neighborhoods are in the $160-200 K range
A $40 K salary is VERY doable in Orlando. The general rule of thumb is that you can afford a house that is 4-5x your salary. With mortgage rates as low as they are now, it's probably even higher than that.
I agree. Now, if you have a big family with lots of other expenses, it would be tight, but as a single person you can live more than comfortably AND afford Disney annual pass.
The problem is, the "average wage", about 41k, is hardly liveable in most of the country.
That's like $2710 after taxes and medical coverage here!
I pay $925 for mortgage/prop tax/insurance on a brand new $136K house. My electric is around $70/month and water/trash is $35/month. Phone/TV/internet is $130/month. Car insurance is $58/month and motorcycle insurance is $6/month. I spend about $40/month on gasoline.
And that is about it. If I made $41K/year (I actually make around $65K/year and bring home $4000/month) all of the above would leave me with around $1446/month for food, short term savings, retirement, buying things, and entertainment. Granted, I have no debt, no car payment, no kids, etc.
But am I such an outlier that $41K would be "hardly livable" for "most of the country" while it's more than enough here? My salary is pretty typical amongst people I know in my age range. I just don't see that we're suffering through some kind of horrible down-waging.
I guess I should feel grateful... I'm making about three times as much as those jobs and I'm still struggling to get my bills paid and family raised.
That's where our country is going though... a few special folks at top and a rather large peasantry making up the bulk of the population. The future looks bright...
I guess I should feel grateful... I'm making about three times as much as those jobs and I'm still struggling to get my bills paid and family raised.
That's where our country is going though... a few special folks at top and a rather large peasantry making up the bulk of the population. The future looks bright...
So you're making around 120K and can't survive? That's scary...I don't even want to make that much. I can't imagine how stressed you are and how many hours you work...
So you're making around 120K and can't survive? That's scary...I don't even want to make that much. I can't imagine how stressed you are and how many hours you work...
Where did you learn to do math? 10 (dollars an hour) X 3 = 30 bucks an hour...
...working 40 hours a week equals 4800 an month, or about 58K a year.
I would be very happy trying to survive with double my income though, so I like your math better. How do I get my employer to figure like that?
I guess I should feel grateful... I'm making about three times as much as those jobs and I'm still struggling to get my bills paid and family raised.
That's where our country is going though... a few special folks at top and a rather large peasantry making up the bulk of the population. The future looks bright...
A low six-figure salary isn't peasantry. It's not rich, but it isn't peasantry.
Quote:
Originally Posted by Chango
Where did you learn to do math? 10 (dollars an hour) X 3 = 30 bucks an hour...
...working 40 hours a week equals about 58K a year.
I would be very happy trying to survive with double my income though, so I like your math better. How do I get my employer to figure like that?
we were talking about $41 k a year and then you said you made 3x that amount.
A low six-figure salary isn't peasantry. It's not rich, but it isn't peasantry.
we were talking about $41 k a year and then you said you made 3x that amount.
I was talking about the article and what those people in the article made vs myself... But now that we undersand each other we can all hug and be friends, m'kay?
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