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I make $50K a year right now but I am quite a few years younger than 28. My plan is to move up into the $80K range within the next 3 or 4 years which is typical for my industry.
I'm 29 and have been earning around $50k/year for the past several years. I live alone in a great neighborhood in Southern California and save almost $20k/year - mainly tax-deferred 401(k) contributions. If I made a higher income, my lifestyle wouldn't change. I'd just save more money.
I was making 48k at 24, about 10 years ago....but a friend got out of school 7 years after me and started at 58k when she was 24. Same degrees. Same location.
I guess what I am trying to say is that it depends on several different variables, such as location, and your degree. What is important however is that I was able to do everything I wanted, including purchasing of a condo, and traveling, on my $48,000 salary. And with proper budgeting, there is no reason why one should not be able to do the same on 50000 a year. Regardless, do not think of it as depressing, instead, enjoy your life to the fullest with what you have, but strive for more.
Have you been working since you graduated? Any thought on pursuing a masters? While 50k certainly isn't bad by any means, the late 20's and early 30's is often a good chance to have the biggest spike in income.
My first job out of tech school at 21 was about 56k, but I was also working 50-56 hrs/wk. Now I'm 26 and at just under triple that, but I'm very good at what I do and have moved up into management since then and transferred companies a few times. I also travel a lot, and typically still work 50 hrs/wk, sometimes a bit less, sometimes more. So there are certainly sacrifices for it.
Have you been working since you graduated? Any thought on pursuing a masters? While 50k certainly isn't bad by any means, the late 20's and early 30's is often a good chance to have the biggest spike in income.
My first job out of tech school at 21 was about 56k, but I was also working 50-56 hrs/wk. Now I'm 26 and at just under triple that, but I'm very good at what I do and have moved up into management since then and transferred companies a few times. I also travel a lot, and typically still work 50 hrs/wk, sometimes a bit less, sometimes more. So there are certainly sacrifices for it.
I'm not sure what you mean in terms of "late 20s early 30s is often a good chance to have a big spike in income" maybe on percentage basis but in terms of dollars I don't think this is true.
Your income isn't triple 50k unless it has changes since the last time you talked about it. Your income iirc is 60-70k with another 50k coming by way of truck reimbursement and per diem related to travel.
What I wouldn't give to be making 50k a year! My husband and I both have our bachelor's degrees and together we make 43k a year. We both work in Austin, TX and my boss makes more in 1 month than I do in an entire year! We have never had more than $1,000 in savings and that usually goes to pay our taxes or repair the car. I do not have credit card debt, I am not a frivolous spender, and yet I fear that I will never be able to afford to have children. So, consider yourself lucky and if anyone tells you something different, they are jealous and they just want to bring you down so that that can feel better about themselves. Also, never compare yourself to others; I catch myself looking at other people with more money, a better car, a nice house and it makes me feel worthless and that is no way to live! I have learned that my job does not make me who I am and neither does my paycheck. I am my own person and happy to be alive!
That's approximately what I made when I started my career at 29 after finishing a master's. Still not making that much more at 33. In the education field you don't have much growth.
Median personal income for an American individual in 2014 was about $29K.
I'd say a person making 50K as an individual - 72% above median - is doing pretty well for him or herself.
But man o man...$50K/year for a "single" male IS very good. With that money, "I" could afford:
- $25-$30K new car
- $200K - $300K new home or $1800/month for very nice apartment.
- 1 week in Hawaii resort 3 times a year
- Shop at mall for clothes, not Target or Walmart.
- Eat out 3-5 times per week
- Contribute $250 monthly to my 401K
...and still send my momma money. Key word is "SINGLE". No strings baby!!! Add any dependent to the mix and you can take 1/3 off the top and redo the math.
Bull scat. You could not afford that.
50k per year equals 4166 GROSS. Your yearly taxes including payroll tax would be 9,750 per year or 813 dollars per month. 3353 left over. IF YOU EMPLOYER PAID 100% of your benefits cost.
30k new car would run you 330 per month financed for 5 years and another 100 per month in insurance.
Now you have 2923 left over.
1800 per month for an apartment would set you back 1800 & utilities or probably 1900 per month. Now you have 1023 per month left over.
Deduct the 250 per month for 401k contributions. and we are down to 773.
Eat out three times per week (3 x 15) = 45. 45 x 52 = 195
Down to 578 per month.
Cell phone plan? Cable/internet? Count on at least 100 per month EACH. Now you are down to 378 per month.
You are probably going to have to buy toilet paper and some food when you aren't eating out. Probably a good idea to budget for gasoline too.... 100 per week should do it. Now you are hitting the credit card for (-55) per month.
Shop at the malls? Another 100 per month. (-155)
Three trips to Hawaii? 2,000 dollars +/- each? (6000 per year) or another (-500) per month on the credit card? Now you are in the hole (-655.00) per month.
Don't forget emergency funds. Need to see a doctor? Deductible. Tire blow out on the freeway? 100 bucks. Want to buy a new TV? 1000.00
A single male with a bachelor's degree is currently making $50k a year.... Would you...in ur opinion think that this individual is making a decent living for 28? or Is making $50k/ year pathetic?
Somebody told me...."sounds depressing" when I told them what I made..lmao now I know im not burning down the world with my salary, but I thought I was doing OK at the very least..... Now, I'm thinking I'm not......
what do u all think? How much should a college-educated 28 y/o be making?
You are in the money at 58K a year at the age of 28.
How much a 28 year old should make is only opinion, this whole thing is opinion.
To someone in Beverly Hills, whose parents set them up at 80k, what do you think they will tell you? The realistic person, will congratulate you sincerely. The brat will run their mouth. The person who told you that, is probably jealous and told a lie. I would not believe them unless they showed me their pay stub and last four digits of the social security number on it, to prove they made/make more at 28.
You make 58k at 28, job well done.
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You are blessed
2,000 dollars +/- each? (6000 per year) or another (-500) per month on the credit card? Now you are in the hole (-655.00) per month. 
