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May be true, when one computes middle income for an area they also need to consider the adjustment needed when cost of living is included . Example it is 87% more costly to live in Silicon Valley than in many other parts of the U.S. with an average cost of living.
This link shows that the real world salary for different high tech capitals of the U.S. and shows the true salary adjusted for cost of living.
Note that Austin Texas has the highest tech workers incomes in the country, and is $28,000 ahead of the Silicon Valley which is in 5th place when salaries are adjusted for cost of living.
And just think, California has the highest poverty rate in the entire country. Just think that San Francisco has well over 20% of the population living in poverty. Los Angeles is the most poverty stricken area in the country, with a poverty rate of nearly 27%.
You talk about the big salaries in California cities, but those salaries are for only a small portion of the population, and a high percentage live in pure poverty.
And just think Georgia and California are tied for the lowest percent of the population able to own their own homes.
That's great when your 18, but limits your future. I really hope parents don't encourage that behavior
…then when you do go to college, you're older and have some idea of the value of a dollar and the value of your time. Sounds like a good idea for some people.
My wife and I make 94k in Jacksonville. Its by no means an expensive City but even here 94k isn't like the 80's/90's movies where someone "makes six figures" and has 4 cars, a boat, and a huge house. I cant imagine being in a City where rent is 2400 for a small place.....
It would be a good idea for an 18 yr old to take a 60k/yr valet job.
About 1.5 year's worth of work would completely pay for a college education
That's the theory at least.
And assuming that the $60K is a real number... it's still the starting point
and still requires far more discipline than most 18yo's will have to conserve MOST of that income.
In fact nearly all of the (net of taxes) income for several years in order to have the tuition.
A far more likely outcome is that he'll soon be a 28yo then a 38yo then a 48yo
with no marketable skills beyond the valet gig.
That's the theory at least.
And assuming that the $60K is a real number... it's still the starting point
and still requires far more discipline than most 18yo's will have to conserve MOST of that income.
In fact nearly all of the (net of taxes) income for several years in order to have the tuition.
A far more likely outcome is that he'll soon be a 28yo then a 38yo then a 48yo
with no marketable skills beyond the valet gig.
Ive known quite a few people who say they'll just work for a few years and save every dime for college. Then they get a new car, nice apartment, girlfriend...then 20 years later theyre in college trying to remember what the hell a parabola is.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Here in the Seattle area people live comfortably on $60-70K with a modest apartment, but to buy a house even $100k is pushing it. Our suburban city of 45,000 has a median family income of $135k, other nearby cities also east of Seattle are in the $110-120 median range. I can't imagine a family trying to live in San Francisco on $100k, it would be a meager lifestyle.
Here in the Seattle area people live comfortably on $60-70K with a modest apartment, but to buy a house even $100k is pushing it. Our suburban city of 45,000 has a median family income of $135k, other nearby cities also east of Seattle are in the $110-120 median range. I can't imagine a family trying to live in San Francisco on $100k, it would be a meager lifestyle.
Ironic isn't it that the hippy haven of the baby boomers has now become a place where only the rich can afford to live. Ah Murica.
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