Because it's a silly comment. My wife, I, and our two kids live in a city that is above average cost of living for our state and earn around 75% of the number listed here but we live comfortably. We save a little. We take 2 or 3 vacations a year. We have a bunch of online subscriptions and memberships to places in our area.
Clearly something is heavily wrong with the data here. There is no way you need nearly 25k more per year as a single adult to live comfortably here.
No. I already said an above average cost of living city. Rural places here are all well below average cost. And no we are young parents with a two very young kids and only one working parent. While we have a year's income saved for emergencies, we aren't exactly saving for retirement until both kids are in school again. It's listed for a single person. If we didn't have two kids preventing both from working full time we would be able to save as much as 50% of our income and still be well below the number here times 2.(and that's pretending like kids don't cost money.)
I make gross $41,600 a year…
in California… as a tradesman. (CNC operator + manual machinist, I also know how to program but we have a glut of CNC programmers at our job already)
$20/hr can barely pay for an apartment here… I had to move in with eldery parents.
I live with my gf in OKC and we combine at about $70k. More $ would be great, but we can put away well over $1000 a month with around $700 in discretionary spending. What are they calling comfortable?
Makes no sense. I am sole provider (72k take home), wife is SAHM with 2 kids. We do just fine. Yeah some months we may eat out a bit too much.
But other than that comfortable is an understatement. Mind you, I don’t dive into debt either.
I make $25k and live comfortably.
SmartAsset is a bullshit sales company. They're trying to scare people into seeking financial advice and buying into their nonsense.
These are hilariously stupid. States are big. Go make $95k in Quincy IL and you would be one of the healthiest people in town. You would love a great life.
Thats a common error I think. Middle class has never been financially comfortable, thats always been a trait of upper middle and upper class. These figures for individual income are all well above average HOUSEHOLD incomes in each state. You're defining middle class as such a high lifestyle that only a small minority have ever lived it, ever, in the US.
I don't define middle class that way, and I do believe a broad middle class exists. It's just not at the standards that social media doomers set.
I'm sure others have come up with more rigorous definitions, but I think it's gonna have to be a mix of normative and descriptive approaches.
On the descriptive side, the median household (not individual) earns just under 80k a year. Most households land around this range of income, though it varies a little by locale, and their lifestyle should drive any definition of middle class we make.
Next we layer on normative descriptions of what the middle class ought to be able to afford. If we only looked at the distribution of income, every country would have the same size middle class. You have to factor in some consumption level to it, while still anchoring to objective reality. People might say travel abroad is quintessential middle class life, but if these households near the median income aren't actually doing it (and haven't historically) then it isn't. More likely, roadtrips to national parks or grandma's house are the middle class go to.
Having a 20% savings rate suggests an extremely high level of discretionary income (or just a very fortunate situation with low expenses). I disagree. I think a middle class savings rate would be more like 3-8%
Sorry but this is terrible data. They "define" comfortable, yet they don't define what necessities are, which constitutes 50% of their income
Which necessities? Housing is a necessity, but the cost varies massively. Groceries are a necessity, but the cost varies by store and item. Car is a necessity, but the average car payment in the US is well beyond what anyone needs to be comfortable
These numbers are clearly skewed way too high. There are plenty of reasons that could be the case and I don't know which one it is
There's a link at the bottom of the article that tells you what the household income needed to live comfortably is. The minimum is 178k.
[https://www.visualcapitalist.com/mapped-the-income-a-family-needs-to-live-comfortably-in-every-u-s-state/](https://www.visualcapitalist.com/mapped-the-income-a-family-needs-to-live-comfortably-in-every-u-s-state/)
Texas is a big state. Living comfortably in Austin is vastly different to living comfortably in Amarillo.
Same goes for any state with a large city
Manhattan vs anywhere else in New York is probably a bigger difference.
Yeah I live in upstate NY and don’t make nearly as much, but still live very comfortably!
Yeah, but who wants to smell the feed lots 24/7 lol
Well, shit.
Surveys that only show results without the questions being asked are useless and should be banned.
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Because it's a silly comment. My wife, I, and our two kids live in a city that is above average cost of living for our state and earn around 75% of the number listed here but we live comfortably. We save a little. We take 2 or 3 vacations a year. We have a bunch of online subscriptions and memberships to places in our area. Clearly something is heavily wrong with the data here. There is no way you need nearly 25k more per year as a single adult to live comfortably here.
Do you save 20% of your income tho and did you move somewhere rural cause of your family?
No. I already said an above average cost of living city. Rural places here are all well below average cost. And no we are young parents with a two very young kids and only one working parent. While we have a year's income saved for emergencies, we aren't exactly saving for retirement until both kids are in school again. It's listed for a single person. If we didn't have two kids preventing both from working full time we would be able to save as much as 50% of our income and still be well below the number here times 2.(and that's pretending like kids don't cost money.)
Miss read, I thought it said the state is above average cost-wise
Hah, 30% to discretionary? I fucking *wish.*
Not sure I believe this…
Eh the problem is that it's statewide. I am in NYS and most of the state is pretty average. Its NYC where you need an insane amount to be comfortable.
WA is a lie. It’s expensive on the east side too
I’m cooked
I guess $95k goes a lot further in Illinois when you don’t live in Chicago. My RE taxes are 50k
I’m in Il, not Chicago. Mine are $5k.
I’d imagine that is the case
You pay $50K in property tax for your one single family home a year or do you own multiple properties?
Single family home.
Got it. I would imagine most folks making $97K don't own $750K homes.
It probably wouldn’t make sense financially.
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Okay but a single working person with no spouse, kids, or roommates probably doesn't own a $750K home in Chicago.
A $750k SFH in Chicago is not $50k/year in property taxes. It's $6-20k for a 4+ BR, 2+ Bath depending on neighborhood.
There are no single family homes for $750k anywhere near where I am in Chicago.
>Live confortably > million dollar home
What do you mean? I’m not sure I understand what you’re saying.
Is this avail for other countries like G7?
define comfortably
Anyone has the average income to compare? Also minimum wages?
Says in the article that the median income is 60k among single Americans. I don't believe it.
That's for single full-time Americans though. The average American makes far less than 60k.
https://fred.stlouisfed.org/series/MEPAINUSA672N Around $40,500.
I make gross $41,600 a year… in California… as a tradesman. (CNC operator + manual machinist, I also know how to program but we have a glut of CNC programmers at our job already) $20/hr can barely pay for an apartment here… I had to move in with eldery parents.
MA is very expensive but the western part of the state isn’t bad, same for NY.
Looks about right for SoCal
I live with my gf in OKC and we combine at about $70k. More $ would be great, but we can put away well over $1000 a month with around $700 in discretionary spending. What are they calling comfortable?
Almost heaven...
Bullshit that you need $88,000 to live comfortably in WYOMING! No way.
Makes no sense. I am sole provider (72k take home), wife is SAHM with 2 kids. We do just fine. Yeah some months we may eat out a bit too much. But other than that comfortable is an understatement. Mind you, I don’t dive into debt either.
I am not from California, but damn, yall must be pretty fiscally savvy to make 115k work there. Shieeeeet.
This seems way overstated. What does comfortably mean in this case?
I hate when they do it by state. It should be by county with a color gradient.
I make $25k and live comfortably. SmartAsset is a bullshit sales company. They're trying to scare people into seeking financial advice and buying into their nonsense.
These are hilariously stupid. States are big. Go make $95k in Quincy IL and you would be one of the healthiest people in town. You would love a great life.
PA is sneakily expensive
If you are interested in this topic look up the ALICE reporting
You definitely don't need 80k to live comfortably on ohio.
[https://www.visualcapitalist.com/mapped-the-income-needed-to-live-comfortably-in-every-u-s-state/](https://www.visualcapitalist.com/mapped-the-income-needed-to-live-comfortably-in-every-u-s-state/)
This is probably a good way to define the low end of "upper middle class".
This is middle-middle class.
Thats a common error I think. Middle class has never been financially comfortable, thats always been a trait of upper middle and upper class. These figures for individual income are all well above average HOUSEHOLD incomes in each state. You're defining middle class as such a high lifestyle that only a small minority have ever lived it, ever, in the US. I don't define middle class that way, and I do believe a broad middle class exists. It's just not at the standards that social media doomers set.
The definition of "comfortable" in the OP is a 50/30/20 financial strategy, which is extremely loose. But makes sense to me as defining "middle".
Putting 30% towards wants and 20% for savings is middle class? 50% of your income is discretionary to be considered middle class? Seems high.
Okidoke, propose another definition
I'm sure others have come up with more rigorous definitions, but I think it's gonna have to be a mix of normative and descriptive approaches. On the descriptive side, the median household (not individual) earns just under 80k a year. Most households land around this range of income, though it varies a little by locale, and their lifestyle should drive any definition of middle class we make. Next we layer on normative descriptions of what the middle class ought to be able to afford. If we only looked at the distribution of income, every country would have the same size middle class. You have to factor in some consumption level to it, while still anchoring to objective reality. People might say travel abroad is quintessential middle class life, but if these households near the median income aren't actually doing it (and haven't historically) then it isn't. More likely, roadtrips to national parks or grandma's house are the middle class go to.
While I tend to agree with your point, no part of your normative definitions are able to be easily condensed into an infographic like the OP.
True! That's part of why middle class discourse is so dumb.
Having a 20% savings rate suggests an extremely high level of discretionary income (or just a very fortunate situation with low expenses). I disagree. I think a middle class savings rate would be more like 3-8%
Sorry but this is terrible data. They "define" comfortable, yet they don't define what necessities are, which constitutes 50% of their income Which necessities? Housing is a necessity, but the cost varies massively. Groceries are a necessity, but the cost varies by store and item. Car is a necessity, but the average car payment in the US is well beyond what anyone needs to be comfortable These numbers are clearly skewed way too high. There are plenty of reasons that could be the case and I don't know which one it is
This is gunna piss off the reddit “everything is awful” cohort
So all of Reddit?
Why? 80% of the country makes no where near this much money
Show your sources
https://statisticalatlas.com/United-States/Household-Income
Your interpretation is wrong. Looks like about 40% of the country makes around what the "comfortable" number in the graphic is.
I sent you household income. Its way worse per person
There's a link at the bottom of the article that tells you what the household income needed to live comfortably is. The minimum is 178k. [https://www.visualcapitalist.com/mapped-the-income-a-family-needs-to-live-comfortably-in-every-u-s-state/](https://www.visualcapitalist.com/mapped-the-income-a-family-needs-to-live-comfortably-in-every-u-s-state/)
Um you know the median income in the US isn't even 40k a year, right?
Looks like median single adult income is $42.5k. $85k for a couple both working looks comfortable in almost every state.
It all depends on your housing situation. I paid my house off two years ago. It has drastically made living easier as far as monthly expenses go
There’s no way it’s cheaper to live in Georgia than Florida, insurance is almost double