How far does a $100,000 salary stretch in YOUR city? (Miami: low income, 2015)

[MiamiLIFE]

Miami came in 9th worst city to stretch $100k.


https://www.dailymail.co.uk/yourmone...st-cities.html

[Hemlock140]

Here in Sammamish WA we are not big enough (65,000) to be in the report. Here in King County, a family of four is qualified for low income benefits at $72,000, so $100,000 is barely above poverty level.

https://www.kiro7.com/news/local/fam...nty/517370752/

[Arcenal813]

These studies never make any sense. You can't just compare arbitrary costs city vs city without factoring in completely different lifestyles. Chances are, the person making 100k in NYC doesn't have the expense of car ownership, and gets around the whole city on $5 daily.
Likewise, if one is living IN Miami, one isn't spending a crap ton of money on gas and other extensive driving costs the same way one would be in rural Idaho.

Silly "studies" trying to coerce people into moving to less desirable parts of the country. Who the heck wants to live in Memphis?

[Ghaati]

Let's see - if I had a $100k salary, I'd probably pay around $25k in taxes. So that's a net of $75k. My monthly "average" expenses are around $1500 including food and a night out now and then. So that's $18,000/year in paying bills and a night out now and then. Let's go out a couple more nights and call it $20k now, leaving me with $55k/year net.

Of course making that much money means no more health insurance subsidies. My health insurance plan is valued at just around $1800/month. So that's $21,000 off the $55k, and now I have $34k left over.

So I guess that means I'd be able to afford a new roof and some plumbing repairs we've been putting off for the first year.

The second year, I'd replace my 2010 tin can with a 2020 (or later) tin can, maybe one that comes with a sunroof or better soundproofing - and an arm rest. The third year, hubby can trade his 2015 pickup in for a smaller, newer (but still used) model.

The fourth year - I'm totally going on a trip back north to visit my home state, spend a couple days in Boston as well, enjoy some GOOD pizza for a change, have a hot buttered lobster roll from lobsters that were caught the same morning...and maybe we'll go on a river cruise that year as well.

All things we haven't been able to do, but needed or wanted to do. We'll be able to afford to do them. Still living modestly, compared to some folks. But with more wiggle room to enjoy it.

[MKTwet]

It's not how much you make, it's how much you keep. I make well over $100k and I pay only $10k in taxes. I'm still mad that I'm not keeping more because I'm not spending enough.

[bale002]

Originally Posted by Arcenal813

These studies never make any sense. You can't just compare arbitrary costs city vs city without factoring in completely different lifestyles. Chances are, the person making 100k in NYC doesn't have the expense of car ownership, and gets around the whole city on $5 daily.
Likewise, if one is living IN Miami, one isn't spending a crap ton of money on gas and other extensive driving costs the same way one would be in rural Idaho.

Silly "studies" trying to coerce people into moving to less desirable parts of the country. Who the heck wants to live in Memphis?

I agree; humans tailor “studies” for specific situations and their own specific purposes.

Anecdotally, I would say that $100,000 net income per year in Miami would make a single person or couple with no children live comfortably, but that $130,000-$140,000 would be bare minimum for a family of four, living frugally and without going into debt.

But for each individual case, there are all kinds of unique details.