I mean for someone who wants to have a family of about 4. I know it depends a lot on where a person lives. I'm looking to live in Europe, an area that is inexpensive, an area where you would find many Middle Class people. So, I guess what I'm really asking is...What is the average Middle Class income?
2006-09-04 01:31:48 · 6 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
How long is a string?
What this means is, you know how you live now. Can you live with slight improvements in your standard, elsewhere?
This is difficult to answer because, I know people with 2 children live in $35K comfortably while there are some I personally know who have 1 child with an estimated $230K income annually - and they are finding it difficult to make ends meet and in heavy debt upto their eyeballs.
It is so personal. It boils down to what you can do - how frugally can you live, how well can you manage your debts. Your present situation should be a yard stick to go by in order to project your income needs in the new place.
2006-09-04 01:41:52 · answer #1 · answered by Nightrider 7 · 0⤊ 0⤋
This will depend mostly on your long term savings goals, in addition to your fixed and variable expenses after taxes. You might want to watch the taxes over in Europe, as they are often different than here in the US. Setting up a monthly budget is a great way to start with the end in mind and then work backward. Knowing what you want is critical.
2006-09-04 08:43:31 · answer #2 · answered by John H 3 · 0⤊ 0⤋
As you said, it depends on where you live and cost of living. I was taught to keep at least (6)months income in the bank,for those rainy days. You will have to research the areas ,where you may want to live and decide which area is best for you.
I wish you well on you search.
2006-09-04 08:50:11 · answer #3 · answered by jamesanderson22 5 · 0⤊ 0⤋
I think that it is a goal few reach. With all the stuff you are suppose to have the days I'd say a family of 4 would need 150 k a year just to be average. House ,college,health insurance,food,clothes,dental,cars,insurance,furniture,savings,retirement planning,vacations,groceries,eating out,electicity,cell phones,gasoline,car maintainance,and ect...........
2006-09-04 08:37:57 · answer #4 · answered by super stud 4 · 0⤊ 0⤋
Yes, "good" is a subjective term.
This is for families in the US in 2006:
The poorest 20% make less then 25,616
the next 20% make between .........25,616 and 45,021
the middle 20% make between ...45,021 and 68,304
the next 20% make between .........68,304 and 103,101
the top 20% make .......................103,101 and above
in the top 20%, the richest 5% make over 184,500
http://pubdb3.census.gov/macro/032006/fa...
$46,071 is the median household income in the US average over 2 years 2004-2005
This will give you all kinds of information on income by education, sex, age family size etc
http://www.census.gov/hhes/www/income/di...
this will give you median household income by state
http://www.census.gov/hhes/www/income/in...
2006-09-04 08:33:39 · answer #5 · answered by dredude52 6 · 0⤊ 0⤋
I think the average male in the U.S. makes about $41,000.
2006-09-04 08:34:13 · answer #6 · answered by Anonymous · 0⤊ 0⤋