Post by cosyliving on May 17, 2021 3:05:05 GMT
But at that rate you would be at least in the top 5–8% of U.S. incomes, and close to the top 0.1% globally.
Certainly, what you can do with it will depend where you live. If you are in San Francisco, CA, you’ll be comfortable but not flashy, and spend most of your income on living expenses. In Marion, IN you could buy a modest house on two- or three-months salary, and probably save and invest 3/4 of your income or more.
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Jason Barber
, Headhunter | I have hired over 10,000 people
Answered December 30, 2016
Is $12,000 a month a good salary?
If you live in Atlanta, GA yes. In Palo Alto maybe not.
Via negativa means we gain more in life through subtraction than addition. Try it and see if it revolutionizes your thinking.
Either way, more salary isn’t the answer you’re looking for. People are in the meaning business. We tie a good salary to our meaning because it means that we are beneficial.
Once you start making 12K you will be wondering why you can’t make 20K per month. Once you’re worth a million you want to make 10M.
I’m working with an investor that wants to sell a company for a $1B. Because he’s sold a company in the hundreds of … (more)
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Issei Kohama
, Owner at Simple Market Knowledge
Updated May 26, 2020
Are you considered rich if you make 7000$ a month in the US?
Everyone is going to say different things because everybody has their own opinion on what being rich is.
For me I think it is important for the individual to know and achieve this goal to be rich.
It doesnt matter if person x or person y says anything about your financial status because if you’re happy where you are, why listen to someone who is an outsider and has a piece of the picture influence you as the decision maker when you are an insider who understand the entire picture?
That is why I decided to write a guide so you think for yourself.
Here are 3 questions to consider:
How do you define r
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Tom Psillas
, lives in Berlin, CT (2016-present)
Answered April 30, 2018
Which jobs or which position pay more than $10,000 per month?
Good software engineers can make $10K per month, in Seattle and Silicon valley. where demand is high. In NYC, working for hedge funds, some software engineers make over $15K per month, but that is less than 25% of them.
Twenty years ago, I made over $150K/year as a consultant, working for technology used by E-Commerce startups, during the Dotcom boom. Now, I am lucky to make $7K per month, due to my age and H1B visa workers taking all the jobs away. Most of my former co-workers are out of work, due to H1B workers, illegally replacing American workers. That was not supposed to happen, but it do … (more)
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Dattatray Hiregange
, former Senior Manager at Private Sector (1991-2013)
Answered January 27, 2017
How much salary is sufficient to have a good and easy life in the US?
Good and easy life in USA is possible if you are a high paid salary person or you are representing reputed organisation or any Multinational Company in USA. However so far my knowledge, you will have to pay US taxes even if you are non resident of US. But, one of my relative says (resident of USA) better if you file for tax procedure and pay taxes regularly which will be refunded to you later by your employer. Further you can contact legal adviser to know more about US Tax details.
Secondly, you will have to earn a minimum salary of $ 6000/month so as to enable good and comfortable life in USA’ … (more)
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Geoff Lee
, Employed
Answered August 1, 2020
Is $8,000 per month enough to live on?
Depends on where you live, how large a family you have, and what your priorities are. In the US, $8k/mo is $6.4k after fed taxes, and even less if you have state taxes. A modest mortgage will set you back roughly $2.4k/mo, after prop taxes and insurance are added in. On the coasts, this buys you a very modest house with a long commute into the city. I'm going to model costs with a couple of young kids and a couple of cars. Food, drink & sundries will run $800-1k/mo with healthy home cooking and fast food/take out. nothing fancy. Loans, insurance, gas and upkeep on 2 newer cars will set you bac … (more)
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Matt Riggsby
, MA Archaeology, Boston University
Answered October 26, 2018
Is a $10k salary per month considered high in the US (with around $1,500 expense)?
Median household income in the US is about $61k. The salary you’re citing ends up about double that, so that’s pretty good. That said, it’s upper middle class, not rich. And, of course, there are countless qualifiers involved. You note an expense, but not the reason for that expense, so we need to get specific here. For example, is this a salaried job with benefits like health insurance, or is this contract work? If it’s the latter, there are some hefty expenses not covered, so the big up-front number is a bit of an illusion. Also, where is this job? Cost of living in, say, Macon GA is vastly … (more)
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Miles Fidelman
, Systems Architect, Entrepreneur, and Policy Wonk. Have a grey beard.
Answered August 10, 2016
How much is $2000 a month in yearly salary as a freelancer compared to working full time?
I’d agree with David. Your friend is screwing you. That $2000/month as a freelancer is worth $12,000 a year of salary (assuming benefits), not $48,000.
Just think of all the things he’s not paying you, when you work as a freelancer, that YOU have to pay:
7. 5% payroll tax (US)
benefits (notably health insurance)
vacation & sick days
other misc. overhead
As a general rule of thumb, an employee costs twice their salary. So…. the equivalent of a $48,000 salary is $8000/mo. ($96,000/yr), not the $2000/mo. your “friend” is offering. (And that’s before adjusting for whether he’s going to pay while you tak … (more)
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Curt Sutherland
, Entrepreneur, Real Estate Investor, Consultant (1981-present)
Answered May 10, 2018
My salary is 5000$ per month. I want to be a millionaire. Can someone draw a timeline for that?
If you truly want to be a millionaire, you can do it with a $60K a year salary in about ten to twelve years, depending on how well your investments perform.
You will need to go without most of the toys that your peers have today. When they show you their new sports car, or their nice boat, be happy for them, but stay laser-focused on your own personal finances and your long-term financial goals.
Your peer just invested in a rapidly depreciating asset, trading their long-term future wealth for a current short-term pleasure. You are only looking for investments and assets that will appreciate, or … (more)
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Solomon Sun
Answered July 7, 2017
Is $180,000 per year considered a good income in the USA/Canada?
First, It’s a good income. You’re in the Top 1%~2% in most of the states in USA and maybe Top 5% ~ 10% in NYC and Sillicon Valley area, but it’s still a decent income.
Second, I see that some of the answers really exaggerated the living expenses in NYC and Sillicon Valley. It’s much more expensive than other places in the states. But that money can definitely make you live in a decent life! I say ‘decent’, not ‘luxury’. Someone even call this income a “lower middle class income”. Seriously? The median family income in Sillicon Valley area is only $94K, the highest area in the whole country. The … (more)
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Kyle Monaghan
, Admissions Specialist at App Academy (2019-present)
Answered May 12, 2020
Is $40,000 a year at the age of 22 a good salary?
$40,000 is a great salary! Focus on keeping as much of it as you can, in a lot of cases that matters more than having a higher income. Build your 401k early, create an emergency fund, create good financial habits, and have some fun. Also remember that number is going to grow as you progress in your career.