Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It amazes me how little a lot of people earn. I make a little over $60,000 annually. After taxes, insurance, and a 12% retirement contribution, I net a little over $3,000/month. Honestly, it does not seem to go that far.
The mortgage is ~$550/month. Power is around $100. Internet and cable are close to that. Water and sewer is in the $60-$80 range. The car payment is about $300/month. The gym is $40/month. The cell phone is about $60/month. Car insurance is about $60/month. There is always something to be paid. That's not counting the steady drumbeat of stuff that breaks, maintenance on things, medical expenses, etc. I'm by no means stretched but I don't have the extra a lot of locals think $30/hr brings. I have some fans and other parts on my computer that are physically wearing out. I'm just replacing the failing components, not building a new machine. I don't have the extra $1,500 or so for the computer I want to build right now without it going on the cards.
I was talking with one of my coworkers this week that we don't understand how the people at the median income in this manage. Keep in mind median household income here in Kingsport is in the mid $30k range. Half are below that. By household income, I'm top 25%. By single wage earners, I'm probably top 10%-15%. I have friends who are probably below the median and their lives are constant struggle. Some of the Facebook posts I see are downright horrifying. They can't keep the beater car running. It's hard to pay the rent. A lot are on SNAP and WIC. Most have at least one kid, some several. I don't see how they make it.
[quote=Serious Conversation;51929608]I saw this article yesterday.
It amazes me how little a lot of people earn. I make a little over $60,000 annually. After taxes, insurance, and a 12% retirement contribution, I net a little over $3,000/month. Honestly, it does not seem to go that far.
The mortgage is ~$550/month. Power is around $100. Internet and cable are close to that. Water and sewer is in the $60-$80 range. The car payment is about $300/month. The gym is $40/month. The cell phone is about $60/month. Car insurance is about $60/month. There is always something to be paid. That's not counting the steady drumbeat of stuff that breaks, maintenance on things, medical expenses, etc. I'm by no means stretched but I don't have the extra a lot of locals think $30/hr brings. I have some fans and other parts on my computer that are physically wearing out. I'm just replacing the failing components, not building a new machine. I don't have the extra $1,500 or so for the computer I want to build right now without it going on the cards.
$60000 is huge money to some folks. Don't ever think of retiring until mortgage is paid off. Buy clean used car for cash, no cell phone, no gym, eat out once in 3 months. Car insurance depends on where you live and who drives the car. Kids are grown and gone makes a difference. Just wish they hadn't gone so far away.
My oldest son just can't seem to save. He recites an endless list of bills every time we talk about it. He tells me I don't understand what he's going through since I have always made an above average salary. But I do! America is simply an expensive place to live with all that you have to lay out each month just to survive.
Also, in retirement, everybody has their hand out; especially lawyers, the government, insurance, and financial service providers that want to part you from your money.
I already know that whats left of my IRAs that my son inherits will likely be the majority of the retirement money he will have.
It amazes me how little a lot of people earn. I make a little over $60,000 annually. After taxes, insurance, and a 12% retirement contribution, I net a little over $3,000/month. Honestly, it does not seem to go that far.
The mortgage is ~$550/month. Power is around $100. Internet and cable are close to that. Water and sewer is in the $60-$80 range. The car payment is about $300/month. The gym is $40/month. The cell phone is about $60/month. Car insurance is about $60/month. There is always something to be paid. That's not counting the steady drumbeat of stuff that breaks, maintenance on things, medical expenses, etc. I'm by no means stretched but I don't have the extra a lot of locals think $30/hr brings. I have some fans and other parts on my computer that are physically wearing out. I'm just replacing the failing components, not building a new machine. I don't have the extra $1,500 or so for the computer I want to build right now without it going on the cards.
I was talking with one of my coworkers this week that we don't understand how the people at the median income in this manage. Keep in mind median household income here in Kingsport is in the mid $30k range. Half are below that. By household income, I'm top 25%. By single wage earners, I'm probably top 10%-15%. I have friends who are probably below the median and their lives are constant struggle. Some of the Facebook posts I see are downright horrifying. They can't keep the beater car running. It's hard to pay the rent. A lot are on SNAP and WIC. Most have at least one kid, some several. I don't see how they make it.
Life is not cheap.
Woooooo weeee, if this doesn't show me how different people have it I don't know what does. We're in the same salary range but after taxes, insurance, pension contribution, plus another $500 a month for personal retirement savings I net about $3600. Location, location, location.
Woooooo weeee, if this doesn't show me how different people have it I don't know what does. We're in the same salary range but after taxes, insurance, pension contribution, plus another $500 a month for personal retirement savings I net about $3600. Location, location, location.
I'm in a state with no income tax. I used to live in Indianapolis. That was another 5% gone off the top.
Also, people spend their money on useless things. Fifteen years ago, a high end luxury car was the exception, not the norm. For the last decade or so, all you see on the roads are insanely expensive high end pick up trucks, Mercedes, Lexus, Audis, BMW's. I know I make more than most folks but I sure would not lease or buy a luxury car just because I wanted it. That is money that could go into a retirement account, the stock market, etc. Same with these insanely new huge homes that continue to be built. Why does anybody need 4 bathrooms? I'm amazed at the number of folks I know who have had very good paying jobs for 30 years and say they cannot afford to retire. I may never be rich but, I have always saved for retirement, knowing that you can never have enough money once old age and health issues take over. I know a lot of folks do not make a living wage and, for them to save for retirement is sometimes not possible but, there are plenty of folks who live for today, with little thought of living in retirement for 30 or more years.
Also, people spend their money on useless things. Fifteen years ago, a high end luxury car was the exception, not the norm. For the last decade or so, all you see on the roads are insanely expensive high end pick up trucks, Mercedes, Lexus, Audis, BMW's. I know I make more than most folks but I sure would not lease or buy a luxury car just because I wanted it. That is money that could go into a retirement account, the stock market, etc. Same with these insanely new huge homes that continue to be built. Why does anybody need 4 bathrooms? I'm amazed at the number of folks I know who have had very good paying jobs for 30 years and say they cannot afford to retire. I may never be rich but, I have always saved for retirement, knowing that you can never have enough money once old age and health issues take over. I know a lot of folks do not make a living wage and, for them to save for retirement is sometimes not possible but, there are plenty of folks who live for today, with little thought of living in retirement for 30 or more years.
You are talking about a much smaller minority of people than the ones would literally cannot afford to save. The people you are talking about exist, but too often people use their existence to justify not helping or severely limiting benefits for the much larger group who truly can't afford it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
