what IS a decent income?

Question

ive seen so many people on here consider 100k+ a year "decent."

if you ask me, i think thats an extrememely good income.

so, really, what is a decent income? (economically speaking, not personally)

Answer 1

I think it depends on what you want from life, what type of house, what type of car, what type of vacations, etc. Figure that out and you will know what is "decent" for you.

Answer 2

It depends on:
1) Regional Living Costs.
2) Personal Expenses.
3) Personal Values.

All of which can be chosen. I live in a cheap area, cut expenses to minimums (I have a 50% savings rate), and my life values are NOT centered around money.

As a result, I currently live on 18K/year, save 10-12K/year on average, and since I've been working for about 8 years, I've saved over 75K. Plus, I only work part-time, currently 10 hours a week. I have lots of free time to pursue my personal interests, which your average 100K earner can't say. If Time=Money, I may not be rich in terms of money, but I'm extremely rich in terms of time. I consider myself lucky.

"Decent" is relative to the person, because economics ultimately IS personal. While supply may be objective, demand is usually subjective.

Answer 3

I think a decent income depends on your own lifestyle.

I mean there are people who are happy and make ends meet with 2500 a month and there are some people who make 10,000 a month who feel that they are falling short.

Personally I think that it doesnt matter how much we make we will always feel like we are short just because the more money we make the more we will spend.

Answer 4

My wife and I live in Columbia, South Carolina and gross about $115,000 a year. For this area, this is a decent income. Sales tax in this area is only 3% for groceries and 6% for other things. We live in $150K house and drive two $30K vehicles. All that to say, it is a decent salary for the area we are in and the lifestyle we maintain.

Answer 5

Economically speaking? That will depent on WHERE you live and your purchase power.

For example, people who earn 100K a year and live in area where houses cost around 200K has a greater purchase power than people who earn 100K and live in area where houses cost 1,000K

Answer 6

Depends on where you live and depends on what your definition is decent. If you want a number, 70K a year sounds decent in most area in the US ;)

Answer 7

Depends where you live.

In Manhattan, you can't afford to buy an apartment on $100,000. In Tulsa Oklahoma, you can live like a king on $25,000.

Answer 8

It's different from person to person. I live on less than 10 Grand & I'm "all set"... -but everybody has different spending habits.

Answer 9

45 to 55,000 is decent

Answer 10

80000 a year