Posted on 05/26/2023 8:31:40 AM PDT by ChicagoConservative27
A new poll found that Americans believe that the average family needs to make a minimum of $85,000 annually to get by, a major increase from just a decade ago.
The Gallup poll shows about a 46 percent increase in the perceived average income a family of four needs compared to 2013, when American put the figure at $58,000 annually.
“The rise in perceived necessary income to support a family of four highlights the economic pressure facing American households as high inflation stretches into a second year,” the poll results read.
About 31 percent of respondents said that the minimum annual income a family of four needs to make is between $50,000 to $75,000 per year, while 30 percent of respondents said the family’s annual income should be at least $100,000. Those saying that a family of four needed an income of at least $100,000 tripled from 2013, when only 10 percent selected that bracket.
(Excerpt) Read more at thehill.com ...
$450,000???? I’d like to live in such a place.
Here in the poorest metropolitan area in the country one cannot even get builders to fool with anything for less than $1,000,000.
Don’t forget,
The $10 coffee from Starbucks.
$1000 car payment(s).
$200 cable bill
Minimum credit card pay on a maxed out.
Last increase in the fed min wage was 2009. States have changed their own at different times.
In before FReepers begin posting just how little they need to get by, including tips on:
Rechewing gum
Saving string
Eating expired food
Hunting rabbits and voles in neighbor’s yards.
Well that family better git their ass to work!!
Inflation is going to spiral up and people are going to cut spending. A lot of us self employed are going to experience reduced income. I don’t see how this fails to happen at this point.
$85K is not going to make in major cities and even burbs
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My income is that much or more but here in fly over country, my “out go” is about 1/4 that amount. Family of two, no mortgage, rent or car payment.
Seems about right, and that’s without any excess frills. A lot depends on housing costs, energy costs, etc. And that’s before saving for retirement or saving for emergencies. Inflation has been very damaging over the last couple years due, primarily to Biden, killing our energy independence.
Yes, whenever topics like this come up some on FR act like they live on $1000 a month or less.
When I fully retire in a few years in my late 50’s and annually withdraw 4% of mine and my wife’s investments to live on, should I call it “earned” or “make”? LOL
Well I am a single senior & homeowner living on SS on less than a fourth of $85000. I get by OK, but don’t eat a lot or drive anything but an older car.
I owned one of those Dodge Darts....
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