In this article, we list jobs that pay at least $75,000 per year. And Im still doing just fine. 1 2 3 4 5 > 07-05-2016, 05:40 PM stellastar2345 Location: usa 1,001 posts, read 1,037,722 times Reputation: 815 Advertisements PERSONAL INCOMES Very Low Salary: Under 70k Low Salary: $71k-99k Decent Salary: $100k-249k Good Salary: $250K-399K Great Salary: 400k-999k Amazing Salary: 1m and higher Highest paying jobs: Chief executives and. What do you think about that? Honestly speaking, I do very well for myself (no kids no wife) off of that 93k and I have a great lifestyle, but at the end of the day, that 93k really isnt enough for me to FEEL like my 100,000 education paid off. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Created in 2008, J. You need to know this because without it, you can't get clarity about what you want. 15 Jobs That Pay $75K a Year | Indeed.com All products are presented without warranty. See What a $100K Salary Looks Like After Taxes in Your State, Money Expert Jaspreet Singh Says You Can Use ChatGPT To Become a Millionaire -- Here's How, I'm a Millionaire: Why I'm Not Passing Generational Wealth to My Kids, I'm a Financial Planning Expert: Don't Make These 4 Impulse Purchases If You Want To Be Rich. To Quote Pulp Fiction: But Im trying, Ringo Im trying real hard to be the shepherd. Jules. Now it's your turn to tell us who is your favorite! Haha No siree, its just that my overall level of happiness seems to have plateaued once I hit that magical mark. -$12,000 for mortgage payment (assume $1,000 per month total) Right now I dont make enough to even show up on the radar- but my husband just got a raise to put him at $135k a year. When determining if a $ 75,000-a-year salary is good for you, it is crucial to consider your financial goals. @J. Im not sure, I think it depends on where you live. $75k in NYC is ok, $75k in the midwest is probably better. Save my name, email, and website in this browser for the next time I comment. @BruceBucks I think its as close as a magic number as well find. Their mortgage is $3,500 per month. I felt rich when I sold 1 copy of my book. Is $75,000 a Good Salary for a Single Person? Also, having lived in both Orlando and South Dakota if we were making that in SD we would have a lot more to work with just on the fact that the same house would cost half the price. This way, 50% of your money goes to basic living expenses, 30% caters to your wants & personal expenses, and 20% goes to your savings and investments. Yes, a $75K annual salary is good for most households. In every other way, she says, they cut costs. Is $75,000 a Year a Good Salary for a Single Person? Any day that I help just 1 person, whether by using my skills or financially, I am MUCH happier by the time I go to bed. Been trying to do one thing a day feels great when I complete it. Is $~75K AUD a decent income for Melbourne? : r/melbourne - Reddit Before COVID-19, Hickey was doing fine, but the pandemic has put a huge dent in his income and ability to save. For example, a marketing manager in a large city may earn a higher salary than one in a small town. South Koreans are about to get a year or two younger, thanks to a new law. The Perfect Salary for Happiness: $75,000. @Bobby $50k-$60k aint bad either. An avid coin collector, skateboarder, and Daddy x3 (boys), you can find him trying to live his Best Life at 42 while sharing all his wins (and fails!) The $$$ is just gravy. And believe me, these last two years Ive made well over that when I round up all the blog money and other projects Ive been accumulating lately. Its the Im kinda screwed up but not THAT screwed up! mental comparison. Interesting! Well great job wifey! If you have questions, consult a trained professional. @Jim Juber Haha, oh yeah! Quora At their income bracket, and with their ability to save, Wolter and her partner dont have to worry too much about unexpected or sudden expenses. In 2023, the cost of living continues to rise, and many people are wondering whether a salary of $75,000 is enough to live comfortably. higher! Charity or contribution does not have to cost a lot, especially if you are starting out, but it has to be part of the fabric of your life. .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}money and happiness. That means that your net pay will be $56,891 per year, or $4,741 per month. According to the census, the median household income in 2020 was $67,521. Final Thoughts on Is 75,000 A Year a Good Salary We are in the process of making our first budget using software so we can track where it is all going but I will just say this: When we first moved to Ca, he was making around the $75k mark, and we were living like starving students. What matters is the exercise of understanding your priorities, and knowing what your dreams cost. Groceries, $500. Whether that group consists of other doctors, my brothers, teachers in Connecticut doesnt matter. CMV:I believe a $70,000 individual annual salary is more than - Reddit I gave to charity when I was earning $8.25 an hour and living on Ramen noodles. Haha def. Great. Webull offers commission free stock, ETF, option and crypto trading. The information on Investing Simple could be different from what you find when visiting a third-party website. Tom, you do realize that your breakdown saves almost half a million dollars per decade? The theory behind the $75k number is that below this amount, you probably have some sort of worry about enough. We are more than prepared for any emergency such as loss of income or any disaster, Wolter said. We could stop buying hormone free chicken ($$) from the farmers market yet again, I like knowing what I eat is not pumped full of hormones. Here are the factors that will determine if $75,000 a year is a good salary for you: The latest data from the U.S. Census Bureau shows that the median household income is $70,784. $75k with $75k expenses doesnt make you feel all that hot, but with $25k expenses it sure does! And youre up next buddy :), Hi All. $75k is the magic number for the aggregated United States. But we still bring in way more w/ all the side stuff we do so theres still something to be said for much higher salaries (esp if you want to retire at 40 like I do!) An annual income of $50,000 might be more than enough for a single person living in a mid-sized city. This places a $75,000-a-year salary right at this optimum level, meaning it should take care of basic necessities such as housing, food, clothing, and transportation, plus other personal expenses. See also: Our privacy policy and terms of use. How much will that cost? 22 2022, Published 9:00 a.m. $100k is a great goal to reach for and Im fairly confident knowing what I do about you that you will most def. Their home is spacious and sits on nearly five acres. What is a good salary to make to live comfortably? (Single, Married, or People who earned $160,000 a year, for instance, reported more overall satisfaction than people earning $120,000, and so on. Looking at Toms breakdown, there is $2300 per month after taxes, mortgage, and maxing your retirement accounts (more on that later). Advertising Disclosure: Some offers on this page may promote affiliates, which means GRS earns a commission if you purchase products or services through the links provided. Is $75000 a good salary in Canada? - New Canadian Life -$9,000 for taxes (15%) My senior colleague has more than 30 years experience on high level computer, he earned $295k a year and he want to tranfer to work for military at overseas, he said it could be double his salary if you worked at overseas organization. How a Salary of $75,000 Compares to the National Median Personal Income for Individuals. Its vitally important to be strictly disciplined with saving-pay yourself first-and to be extremely careful of the tendency to overspend, Bezozi said. Ideal wage: an income level that exceeds the cost of basic necessities, living expenses, and "wants," such as travel and entertainment. Why those figures? However, it is important to keep in mind the cost of living in the region one resides in . Knowing that, however, may help you appreciate the salary you have, especially if you're pulling in over the magic number. I like in the Kansas City Metro and I know the cost of living here is much lower than most other large cities. Since I havent had stable employment in my field since graduating two years ago, if I get this job my happiness will be through the roof, even if I only made enough to eat peanut butter & jelly for dinner! According to the latest statistics by Pew Research Center, a $75,000 salary is a middle-class income and should enable you to cover most expenses. How Much Invested To Retire Off Dividends, Top Real Estate Crowdfunding Platforms For Accredited Investors, Top Real Estate Crowdfunding Platforms For Non-Accredited Investors. I felt rich when I was pulling in $300 a night bartending in Buckhead (Atlanta, Ga) I think this is really interesting, and I saw something very similar to this a few months ago (the study I saw actually said happiness plateaued at 50K, but it was 7 years ago). Though we choose to live somewhat frugally, we have a very comfortable life, Wolter said. I am actively working on ways to earn $100k+ outside of the corporate world so I can not only have great financial security but also spend lots of time with the people who matter most to me. @Stu @ Pennywise2Pennyworth Nooooo more clutter! what do you consider a good salary in Atlanta? (low income, townhome Def. I distilled all that complex brainstorming and math into a single index card. Here in FL, its an okay salary but certainly nothing to get crazy over. Watch on Is $20 dollars an hour good in California? That being said, I think $75,000 would be a dream come true. The Perfect Salary for Happiness: $75,000 [WSJ]. I think you need to take into account where you live, Northeast and West Coast Im sure disagree. @GIONYC1982 Wow, yeah thats def. Lets break this thing down for a minute for a family of 2 making $75K total: $75,000 pre-tax I just have to chime in as I agree this takes ZERO cost of living calculations into account. Im pretty happy now but I know that $75k would help me pay off all my student loans in a few years and then concentrate on saving for retirement and kids. Whether you do this and discover that your personal Enough is $30,000 or $300,000, you'll be better off for having a clear sense of what you're striving for, financially. Bezozi said that 20% goes towards paying the mortgage, HOA fees and other real estate-related concerns. The manager with the thumbs up/thumbs down for my wifes promotion was out sick, so we wont know on that until Monday or later. @WR Youre always bringing up charitable stuff, I love it :) And while I dont do as much as I can/want, I agree with you all the way buddy. @K Def. Im currently paying off a mountain of graduate student loans and got a raise last May from $50K to $72K. Damn, thats wonderful. I felt poor when I got laid off 3 years later during the Dot com bust Many people consider $70,000 to be at the high-end of the salary range in America today. I like the idea of making a difference in other peoples lives and financial independence is simply a part of that. Anyone supporting a family on that salary knows you still have plenty of careful budgeting to do. A few other income data points for people of retirement age are illustrated below. $75000 a Year is How Much an Hour? Good Salary? - Money Bliss They have Enough, at whatever salary they're earning. @Jen Well done with no debt outside mortgage!!! Wish you both nothing but success :). A good salary one that allows for necessities, fun, and savings might start at $60,000 for a single, childless renter in Florida and $75,000 for a similar homeowner. 75K seems low. But some of your income will be taxed in lower tax brackets: 10% and 12%. Very few jobs will offer you $75,000 a year as an entry-level salary. The Perfect Salary for Happiness: $75,000. Still Ebay is Silicon valley, and Ill eventually move up, but still I dont know at what point you have to move up to be comfortable, when I could just move to Atlanta, and be okay from the beginning. How to calculate Tax, Medicare and Social Security on a $ 75,000.00 salary Loved reading it and is such a great example. Were scraping by! Ive made a little less than that, and all the way up to almost double that some years since writing this, and my happiness levels hasnt really moved around all that much. I dont buy it seems way to low but they dont say if thats for a family or for an individual. With that said, I make nearly $75k and Im no where near I need to be to feel comfortable or happy. As soon as I hit that mark (2008), I felt anything more was just gravy. Living On $35,000 A Year: Budget & Live Comfortably [Salary] - ValueWalk All Right Reserved. Its the comparison that counts. As an Amazon Associate, I earn from qualifying purchases. At my recent company - which is sports adjacent, I made 50K in Florida and really have struggled. This calculator uses the 50/30/20 budget to suggest how much of your monthly income to allocate to needs, wants and savings. How to get out of debt (without gimmicks or games), Shopping addiction: How to stop being a shopaholic. We do our best to provide accurate, useful info, but make no guarantee that all readers will achieve the same level of success. Even after paying income taxes and other statutory deductions, this salary can cater to all expenses and be enough to help build your savings and investments. Lets find out. Using the 50/30/20 budget method, start with what MIT calls a living wage in Florida, which covers basic needs (50% of a salary). I guess youd have to downsize into a 1 or 2 bedroom condo in order to have enough extra for savings/etc. As people earn more money, their day-to-day happiness rises. Will it be enough to curb the high cost of living? You need to set an intention. But then again, I always revert back to good ol Abe Lincoln: Most folks are as happy as they make their minds up to be. Maybe dollar signs arent really attached to happiness. I was living the high life at that point of my career! ;) Hope you can find a way to start making more, my friend. Living Wage Calculator - Living Wage Calculation for Texas :) I dont know many families that would pass that up. We want to fund our retirement. Maybe its coincidence, I dont know, but Im telling you I think for me at least $75k is right on the nose. They do it by knowing what they want, being disciplined with what they have, and celebrating their achievements. A $70,000 Salary Is Enough for Emotional Wellbeing, Research Shows By Dan Clarendon Jun. She lives in San Diego with her partner, who is a construction manager. I read that article a couple of months back and it was money. Wealthy families earning at this level will typically spend 10% on food, entertainment, clothing, and personal care and another 15% on private schools, Bezozi said. Have a great weekend! Next time :) Love it there! After that, it is just more stuff, with no gain in happiness. Even after the federal and state income taxes, you will have enough to pay for basic expenses in most cities comfortably However, in some expensive cities such as New York, this might not be a good income considering the high cost of living. According to the latest data from the United States Census Bureau, the median annual income for individuals aged 65 and older is $47,620, while the mean annual income is $75,254. To use an example that everyone can relate to, When I finally get to the bathroom and puke my guts out after laying in bed and dreading the inevitable, I feel elated. Copyright 2018 2023 Investing Simple LLC. Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Jay loves talking about money, collecting coins, skateboarding, and hanging out with his three feisty boys. 3 Ways to Recession Proof Your Retirement. Since we live in a fairly high cost-of-living city, so this number is well within range of the $75,000 Princeton's scientists came up with when looking at the whole country. How you feel is usually a result of the difference between how you recently felt and now. The effect levels off after $75,000, though. Thankfully, we have zero credit card debt. Anywho, I dont have a perfect number. You will likely be in deep debt, especially if you live in an expensive city. When it comes to overall happiness? I told myself a long time ago that if Im not making $100k a year by the time Im 30 then Im a professional failure. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. If you have limited personal finance knowledge and love to splurge on luxuries and hardly have control over your expenses, this salary might be insufficient. Jobs that pay $75k a year. A $75K salary is a good amount of money to make annually and it can enable you to live in comfort. In 2 years our house would be paid off and when/if the kids go to college we could pay their tuition and fees without feeling the pinch. @Matt Woah, $163,500 is def. When you're pushing $70,000 a year (which, again, is a great starting salary and a good one for individuals) an extra $30,000 can make a significant difference. If that salary is paid monthly, on the 1st of each month, you can calculate the monthly salary by dividing the total salary by the number of payments made in a year to determine the rate of pay on each paycheck. M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. She started turning that around with some radical life changes like moving, shifting careers and committing to buying nothing new. Accruing more money won't make you happier on a day-to-day basis, but the super-rich do score higher than the middle class on another axis of happiness. Photo by AComment. I feel that I need to make at least another 45k a year just to feel like I made it. None of them account for cost of living, family size or any of the other important things that would affect that number. interesting to hear cuz most people here would probably say you are making a TON. What's a good salary for a single person in my state? Groceries alone cost us over $400 a month. Robinhood has $0 account minimums. $75,000 income tax calculator 2023 - Missouri - salary after tax Nevertheless, with the fast-rising cost of living, you have to consider the average salary in your city, your lifestyle, whether or not you have a family, and your current financial situation to determine if this income will be sufficient for you. The median U.S. income in 2021 was $69,717. And I cant imagine how people can function being married and/or with kids at my current income in the NYC area. Hickey has always made it a point to save 10 to 15% of all income that he makes. They can afford internet and streaming entertainment services, still put a little bit in savings, and take an annual vacation to the beach. I wouldnt complain at $75,000 per person, but resources beyond income a big fat nest egg that you sit on and/or earn income from are at least as important, and maybe more important. The poverty rate reflects a person's gross annual income. Thanks for visiting! We earn from many different affiliate programs on qualifying purchases. The special number is the result of a study conducted by psychologist Daniel Kahneman and economist Angus Deaton. Once I hit it, I will finally feel that I am making enough to justify my masters degree, However, my happiness will not increase when I hit that mark,.. it will skyrocket once we pay off all of our debt and finally use our money for things other than debt repayment ;). (Of course, your results likely vary depending on your regional cost of living.) If you are a family of four or more, this salary will only be sufficient if you live in an affordable city with a low cost of living.
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