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I'm not assuming that they are out of touch, I'm know based on facts that they are. The fact is that people in the USA aren't as affluent as the media and word of mouth would have you believe. Fact is that the median personal income in the US is only 27K. Once people accept that half our population is poor and are making it on only 27K or less then the rest of my post is easier to accept.
Next thing to look at is a city with a median cost of living. So lets use Pompano Beach, FL since its close to Fort Lauderdale. It falls right at 100 on the cost of living index. When you compare Pompano to Fort Lauderdale you will see that the cost of living is only 6.8% higher in Ft. Lauderdale.
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After adjusting the OP's salary for his higher cost of living compared to the median COL; he still makes more money then approximately 75% of ALL income earner's of ALL ages in his area. If that's not doing well by the age of 28, I don't know what is. If we compare him to the entire population of the USA then he makes even more at the 77th percentile.
Some of the metropolitan areas of the country do have insanely high COL but overall most of the population of the USA isn't subject to those insane standards. So therefore, we can't go by NY's or CA's standard of what's considered a high salary. When your referring to NJ your referring to one of those metro areas that aren't really good comparisons for what the reality for most people is.
Something can "sound depressing" even if it isn't inferior to the average. Your post saying most people are poor "sounds depressing" even though that's the statistical truth. Making only 27k sounds extremely depressing. You can say it's average, but that doesn't change the fact that it sounds depressing. To me, making about half of what I currently make "sounds depressing" even if it's more than the 27k average. It's all relative.
As for in/out of touch with reality, I live in NJ. My reality and the reality of all the people who live in NJ is the reality of NJ. The fact that statistically the rent is much lower on a national level doesn't impact my reality or that of anyone else here. So I'll again go back to my statement that without context of the original statement, this is all meaningless.
Take the joke about the 6.5 ft statistician who tried to cross a river with an average depth of 5 ft. He didn't make it despite the fact that his height was above average because he was out of touch with the reality of a river that was 10 ft deep in the middle.
Having to walk across at river with a max depth of 10 ft sounds depressing unless you're over 10 ft. It doesn't matter what the average height is.
As for in/out of touch with reality, I live in NJ. My reality and the reality of all the people who live in NJ is the reality of NJ. The fact that statistically the rent is much lower on a national level doesn't impact my reality or that of anyone else here. So I'll again go back to my statement that without context of the original statement, this is all meaningless.
Don't worry I wasn't taking a shot at you in regards to saying "people are out of touch with reality." Indeed your local COL in NJ is what's relevant to your life regardless of what the "norm" across the US may be. I was referring to the individual the OP was talking to who called his salary depressing. I'm assuming he was talking to someone who lives near him and that person is truly out of touch in regards to what's considered a good salary in Fort Lauderdale.
50k is good for 28 and single, I think anything over 50k for a single individual is a pretty darn good salary, but like others have stated this will depend on where you live as well. If you are frugal with your money and live a modest life style then you will be fine. You could even afford some nicer things with that. Also, once you find a mate and live together you will be saving even more.
I have a few friends that are 30+ making 100k+/yr and they talk down about other professions, comments like "but there's no money in that", etc. It generally makes me sick sometimes because the only thing they consider is money. If you like your profession and are happy making what you make all the power to you.
I make way less than 100k/yr but more than 50k year, I'm a single male at 26. I drive a nice 2 seater sports car and live in a decent condo (renting, not owning in a city is my goal). I enjoy my profession and I am happy with my benefits package and my overall work week. I think the average household income in the US is around 63k or so. So if you think about it from that stand point you are making only 13k less than an entire household. You only have one mouth to feed and you only need a studio/1br place.
I also think single people are screwed when it comes to taxes, and other things, but we can leave that for a different discussion later.
A decent article explaining different "definitions". 50k for a single male at age 28 would fall into the middle class, as it is around the median household income made in 2012 for Americans (statistically). However, comparing a single 28 year old to a household of 4 is not a fair comparison. The single person making 50k/yr is typically on the higher end of middle class because it is 1 vs. 4, however, this is all negated when this single worker is subject to a society setup for households of 4+. Furthermore, it's all about location.
A decent article explaining different "definitions". 50k for a single male at age 28 would fall into the middle class, as it is around the median household income made in 2012 for Americans (statistically). However, comparing a single 28 year old to a household of 4 is not a fair comparison. The single person making 50k/yr is typically on the higher end of middle class because it is 1 vs. 4, however, this is all negated when this single worker is subject to a society setup for households of 4+. Furthermore, it's all about location.
He's almost at the upper middle class level if you go by individual income which is more relevant to his situation:
Nothing wrong with 50k at 28 in Fl nothing at all and I agree it is middle, on the higher end of middle middle class if there is a low mid and high end to middle class
He is roughly at the 77th percentile of every individual in the US.
I agree with this, as my post stated. However, he will not get ahead like some couples do that live in a similar 1br apartment and pay half the price in rent as he does.
I agree with this, as my post stated. However, he will not get ahead like some couples do that live in a similar 1br apartment and pay half the price in rent as he does.
Seems rather obvious if two people were splitting expenses that would be better than a single person paying
I currently make 50k a year and I'am only 26 years old but with no college educattion but I am blesses. I beleive 50k is a good salary heck it's my salary i went from $13.00 a hour to 50k. Your blessed my man. I was raised in a house of 5 on 35k a year income Max. Your salary is what you make of it.
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