us household income 2020?

Question

Looking for projection for the US household income in 2020 2030

Answer 1

You should project the yearly inflation.

Usually, household income will go in paralel with the inflation, or otherwise the Real Household income will be far less than the previous year.

(Assume your year 2000 Income initially was USD100,000. Year 2001, your income is USD110,000 increased by 10%. However, if the inflation rate is 10% in year 2001, basically your Real Income is only RM100,000 because as the prices increased 10%, the total amount of goods you could buy in 2001 is the same as the year 2000. )

Real Household Income 2005 = Nominal Income (base year 2000) + Inflation

Therefore, Nominal Household income in 2020, should take into account the total projected inflation from today until 2020.

IF the Household income 2020 is lesser than the actual total inflation, the nation's Real Income decreases, less purchasing power and lower standard of living.

Answer 2

Easy. Higher than the current amount by 1.5 - 2% per year ("Real income", inflation adjusted).

Answer 3

inflation rate? high - one million /yr