Just wondering for future reference.
2006-12-01 04:49:45 · 14 answers · asked by Nora 2 in Family & Relationships ➔ Other - Family & Relationships
OK, I live in Canada, lets say Toronto (kind of similar to NYC), lets say no car, living in an apartment, and yes, paying off student loans.
2006-12-01 06:12:08 · update #1
Poverty line in the United States is $40,000 annually. You're above that (barely) so you're okay financially, but I wouldn't say comfortable. Start dropping some money into savings and investing in mutual funds and looking at retirement. Then you'll be comfortable as your going to get financially without making more money.
2006-12-01 04:53:19 · answer #1 · answered by Takfam 6 · 0⤊ 1⤋
Sorry, we have no where near enough information to answer this question reliably. Do each of you have $100,000 in student loans (not hard to do today)? Do each of you pay $500 per month on a leased BMW or Lexus? Do you live in southern California where the average home price is $600,000?
On the other hand, do you pay your credit card in full every month, is your car paid for, and do you live in South Bend Indiana where the average home price is $80,000?
2006-12-01 04:57:18 · answer #2 · answered by Adoptive Father 6 · 1⤊ 0⤋
It depends on where they live. In New York, $50,000 a year may not get them that far (after rent, transportation, etc, etc). Which city do you plan on living in? Look at housing prices and see what your monthly bills will be. After taxes, $50 G's isn't really that much.
I live in TO. The answer is no.
2006-12-01 04:53:46 · answer #3 · answered by tipper 4 · 1⤊ 0⤋
Fixed incomes don't take into account inflation. $50,000 may be comfortable today but with the rising cost of housing, utilities, and medical cost probably won't go very far with out major life style changes in the future.
2006-12-01 05:02:53 · answer #4 · answered by j.m.glass 4 · 1⤊ 0⤋
That depends on where you're living. Making $50k a year in NYC is like making $11k a year in Minneapolis. Making $50k a year in Minneapolis is like making nearly a QUARTER MILLION a year in NYC!
Have fun with this handy cost-of-living calculator:
http://www.homefair.com/Find_A_Place/Calculators/SalaryCalc/index.asp
2006-12-01 04:56:02 · answer #5 · answered by Katie S 4 · 0⤊ 0⤋
Is that before or after Tax?
All depends how the money is spent, she or he might overspend...yet with a budget i'm sure it can be done.
2006-12-01 04:57:39 · answer #6 · answered by Anonymous · 1⤊ 0⤋
All your needs should be met with $50,000 a year (with a budget) - but not many wants
2006-12-01 04:54:31 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Yes.
2006-12-01 04:52:01 · answer #8 · answered by coffeekeepsmeawake88 2 · 0⤊ 1⤋
i make $53k and I am not living comfortable alone
so it depends on were they live
I live in NYC so it is not alot of money
2006-12-01 04:53:12 · answer #9 · answered by Elizabeth 3 · 0⤊ 1⤋
Depends on how much they are spending.
2006-12-01 04:51:44 · answer #10 · answered by redbull_photo 4 · 1⤊ 0⤋