WHY would anyone want to live in a city these days?????
Comfortable in a large city? Not if I had a thousand pounds of private security around me.
Comfort is not just a matter of $$.
I always wonder whether these types of surveys include the effect of taxes. Either, by making the salary listed net of federal, state, and city tax, or by including it in the 50 part of the 50-30-20 expense budgeting.
Article says ya need only $111K to live comfortably in ATL.
Um, no. That would cover rent, maybe, in the city of ATL.
Close friends, early 30s, double income, no kids, condo near the Fox theatre they bought 5 years ago when it was affordable. Together they gross north of $200. They JUST reached a level one could describe as comfort. They only own one car though ...
“This is known as the 50-30-20 rule or plan, where 50% of one’s income meets the costs of living, 30% is expendable, and 20% remains in savings. “
Well that is not realistic at all... That has to be with everything paid off and no standing debt. Even back in the early 80s, Rent, car, insurance, and basic expenses were 75% of income which only left 25% as expendable/savings. I think this ratio still stands as true now unless you are upper middle class.
Later.
Calling b.s. on these numbers. I’m a single mom in sales in St Louis, much larger town than KC. 2 years ago my income was approximately $110k -Trump was in office, life was good. For the past 2 years my yearly has dropped to $85k - 90k under Bidenomics; it absolutely does not feel like I’m earning that much. My HOA fees have doubled over the past year do to upkeep costs increasing, nevermind the sky high prices of food, gas, etc.