Is 70k A Year Good Reddit?

Can you live in LA on 40000 a year?

A 40k salary won’t get you very far in a pricey city like LA.

Groceries are the one thing that aren’t way overpriced in LA (though it’s expensive still but produce is actually decently priced here).

However, you’ll be paying a lot in taxes, car insurance (car is a necessity here), so you’ll have to watch every penny..

Is 200k a year rich?

An annual household income of $200,000 is nearly four times as much as the median annual income in the United States. But although bringing in that much puts you in the upper class, it doesn’t guarantee that you’ll feel rich. … They’re rich by many standards and yet they appear to be just getting by.

Can you live off of 70k a year?

If you are single, you can afford quite a bit. If you have a family, not a whole lot but you can get by. It really is dependent on the three biggest costs: housing, car, and food. For housing, someone making $70,000 could afford to spend up to $2,000 a month on housing.

Is 70k a good salary Reddit?

Actually, it’s a solid middle-income, which in 2014 was from $41,800ish to $125,600ish. … That’s a good middle class salary but as others have said, it depends on where you live. But 70,000 for one person is comfortable living for mostly anywhere in the US.

What should I do if I make 70k a year?

6 Things to Do With Your Money Once Your Salary Reaches $70,000Invest in Real Estate (Even If You’re Not A Millionaire) … Ask This Website to Pay Your Credit Card Bill This Month. … Spend 5 Minutes (and $25/Month) to Make Sure Your Family’s Mortgage is Paid When You Die. … Embrace Autopay to Save on Your Bills.More items…•

What is a livable salary in LA?

You’ll need a staggering six-figure income to live comfortably in Los Angeles: at least $136,207 if you’re paying rent or $150,391 if you own a house. The salary needed to live comfortably in Los Angeles has risen by more than $25,000 in the past year, due to rising annual costs of transportation and utilities.

Is 100k a year middle class?

In academic models, the term “upper middle class” applies to highly educated, salaried professionals whose work is largely self-directed. Many have postgraduate degrees, with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000.

What is a comfortable salary for one person?

Depending on where you live in the United States, the amount needed to live comfortably can vary greatly. While you can get by as a single person on a $22,000 annual salary in Kentucky or Arkansas, you’ll need at least $30,000 in Hawaii or Maryland.

Is 80k a good salary in California?

It is an above average salary in San Francisco. You should definitely be able to afford one of those and still have money to put away. Just make sure you avoid car payments, credit card debt, and try not to go overboard on your housing and you should be fine.

How can I make 100k a year from home?

Let’s dive in and teach how to make 100k a year from home!Teach Online. Taking virtual classes is one of the most potent ways to make 100k a year online. … Create a Blog. … Become a Business SEO Consultant. … Sell Photos Online. … Consider Dropshipping. … Write a Book. … Consider YouTubing. … Take Up Stock Trading/Investing.More items…

What is considered rich in the US?

To be considered “rich,” Americans say you need a net worth of at least $2.3 million.

What job pays $40 an hour?

Makeup Artist. If you’re creative and know your way around an eyeshadow palette, being a freelance makeup artist offers a flexible hourly job that can pay anywhere from $13 – $40+ per hour. Per the U.S. Bureau of Labor Statistics, makeup artists are the highest-paid workers in the cosmetology industry.

How much salary is $40 an hour?

40 hours multiplied by 52 weeks is 2,080 working hours in a year. $40 per hour multiplied by 2,080 working hours per year is an annual income of $83,200 per year.

Is making 70k a year good?

If it is, then the $70,000 isn’t good enough to you. But, if you decide that you’d rather skew your work-life balance more towards your home life or outside-of-work life, then you’ve decided that yes, $70,000 is a good salary for you and the way you want to live.

Is 70k a good salary in Los Angeles?

70k will afford you a nice 1br apartment in a decent part of town at the least. if you’re working in the 90028 zip code, i would consider somewhere like los feliz. You can definitely make it out here on that. Some people seem to think you have to make an enormous amount of money to survive out here.

How much is 100k a year hourly?

$100,000 a year is how much per hour? If you make $100,000 per year, your hourly salary would be $50.61. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 38 hours a week.

What percentage of Americans make over 100k?

Percentage distribution of household income in the U.S. in 2019Annual household income in U.S. dollarsPercentage of U.S. households50,000 to 74,99916.5%75,000 to 99,99912.3%100,000 to 149,99915.5%150,000 to 199,9998.3%5 more rows

Is 40k a good starting salary?

Though a $40,000 salary might be below the median individual income in America, in general, it is more than enough to survive.

How much is $50 an hour annually?

40 hours multiplied by 52 weeks is 2,080 working hours in a year. $50 per hour multiplied by 2,080 working hours per year is an annual income of $104,000 per year.

Can you live on 1000 a month?

“With $1,000, you can live quite comfortably. You can get a decent one-bedroom or a studio apartment with $400 or less. This also includes expenses on utilities such as internet, heating, electricity etc. The internet connection is very fast.

What is a good net worth by age?

A better indicator is the overall median net worth of U.S. households, which is $121,700….Age of head of familyMedian net worthAverage net worth35-44$91300$43620045-54$168600$83320055-64$212500$117590065-74$266400$12177002 more rows•Dec 15, 2020