2006-12-10 08:03:03 · 15 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Median household income in the US in 2003 was $43,318. However Westchester County, NY was $61,835 and WVa was $32,967 - so the $40k is relative in value to where you live. It also is dependent on how many people you are supporting with this amount of income ie 1 vs 10.... but $40k as the sole income for a family of 2.5 people would put you almost dead center in the middle of the US population! So you probably have it good but you certainly need to know how to budget and realize that you cann't afford "to have it all". Even if you made $400k a year - you would be "poor" compared to some others that make even more.
2006-12-10 14:33:43 · answer #1 · answered by Bob 3 · 1⤊ 0⤋
I think 40K is a very good salary. It is well above the national average. Depending on what kind of lifestyle you have or wish to have, 40k can give you some luxuries, but not all. This is not to say that you cannot enjoy life. If you live below your means in some ways, then you can certainly save money for the future. You just have to think about what's most important when dealing with your finances.. I think 40K is good for a single person but when you have a family, it can get a little more challenging.
2006-12-10 08:49:31 · answer #2 · answered by pussnboots333 4 · 0⤊ 1⤋
No for the world, it is around average for the United States, personally I would not be too happy maing 40k in the peak of my career,any college degree can almost guarantee that you will make around that area.
2006-12-10 08:52:36 · answer #3 · answered by UNIVERSITYTEXAS11 2 · 0⤊ 0⤋
It depends on where you live and how old you are. If you're just enterring the work force, 40k's a good starting salary. If you live in the inner city though, 40k's tuf to get by with.
2006-12-10 08:11:55 · answer #4 · answered by Mikey C 5 · 2⤊ 1⤋
Poverty my dear is someone earning a living that is min. wage.
In my state the min wage is 6.50. No one can live off of that.
There are a lot of people earning less than that.
So the answer is no.
Also be highly grateful you make that amount.
2006-12-10 14:07:53 · answer #5 · answered by beverly c 1 · 0⤊ 0⤋
Shut the hell up. You don't know what poverty is. Obviously. Try making not even half that.
2006-12-10 08:05:31 · answer #6 · answered by Anonymous · 3⤊ 2⤋
Actually you would be in the top 5% of world income.
2006-12-10 08:11:43 · answer #7 · answered by t_rex701 2 · 5⤊ 0⤋
If you live in London it is ...Here in usa depends Kansas City you'll be fine verthings cheap Mexico also... In Philly haha you'll find me in Hell !!....And I'm single Mudd shovel !!!!!!!!!!!!!!!!!!!!1
2006-12-10 08:13:46 · answer #8 · answered by Mudd 3 · 0⤊ 2⤋
no. try thinking about people in other countries. think about the beggers on the street.
2006-12-10 08:11:09 · answer #9 · answered by Spearfish 5 · 3⤊ 0⤋
in what currency? either you live in a very expensive town or you don't manage money well,
2006-12-10 08:11:19 · answer #10 · answered by Anonymous · 2⤊ 1⤋