Is $100,000 in annual income no longer enough for a family of four to survive on?

Answer 1

If it isn't then you spend way too much money on things you don't need.

Answer 2

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Answer 3

In point of fact if you are in New York or San Francisco you cannot live on that amount as a single person. You can buy what you need if you're homeless, OR have an apartment but go hungry sometimes, wear ragged clothes and not have a phone. But you can't have both. Medical? No, not under EITHER situation. That's life in Obama's and Romney's America. .

Answer 4

I think it all depends on how you define survival.
We are a family of 4 (3 kids & single dad) and we survive quite nicely in $50K/year. This is in Los Angeles, BTW, not in someplace cheap. All 3 kids go to school -the Cal. State system. All of them work part time. But even when they were young, we lived where we could afford to live. we rarely ate out. We only went to movies etc. once a month or so. Spent a lot of time at libraries or bookstores. But never went hungry, always had nice clothes. Clothes from the GAP or similar, not Goodwill, or even Sears. Had cars. OK, Used cars, but still got around OK. Point is, that if your priorities are clear, then your life can be as good as you want it to be.

Answer 5

This is plenty of money as long as you control your expenses and live on less than you make. You have to stay out of credit card debt, too, those fees will eat you up. In other words you can't get "stuffitis" - you need to control your wants. You will not be able to have a new $50,000 SUV like your neighbor, you won't be able to have brand new furniture every three years like your other neighbor. Don't be like them - they are in debt and broke.

If you control your spending and spend less than you make $100,000 is plenty enough for a family of 4 to live on and even create a nice amount of savings and retirement. If you need help and inspiration go to your library and read books by Dave Ramsey, Suze Orman, JAne Bryant Quinn, and David Bach.

Answer 6

depends on where you live ? what your expenses are. check salary.com and do some relocation tools analysis to find out cost of living differentials. the more money you make / the more the government wants. there are sometimes more expenses with higher income too. you need dry cleaning versus wearing washable inexpensive clothes. you have to maitain a better car for clients . have house with entertainment capabilities . give up time / pay for more carry out meals / pay to have more done that you could do yourself if you have time where not stressed. it is not really about how much you make .. it's about how much you can hold on through . learn to save money / cut expenses and live like you made 50K if at all possible . put your other 50 up and let it start making money for you. pay yourself first always.

Answer 7

I support a family of 5 on an annual income of $30,000 decently so if youre saying that $100,000 isnt enough to support a family of four id say something is wrong!!!!!!!!!!

Answer 8

My sister, her husband, and their 6 daughters live on less than $50,000 a year. Actually I'm sure it is MUCH less, but don't know the actual number. The median household income in the US is about $42,000. That means 50% of US households make under $42,000. That means MOST US households get by with less than $100,000.

Answer 9

They say, it is not how much you make, but how you manage what you have. I am learning that now. I am making less than $20,000. I am looking for a better job. That is hard to do though. Now I need to concentrate on finding a cheaper place to live. My land lord is ripping me off by charging $570/ month. That is killing me. I need to start off by finding a cheaper place to live, then get a better job. If I had $100,000 a year, I would be doing great. I have no kids, but even if I did, I could still live comfortably off 100,000, I think.

Answer 10

This all depends upon the cost of living in the region you are in. For example, that level of income is quite suffient to provide a good standard of living for a family of 4 in the Houston Texas area. I doubt that would hold true in other areas especially in those areas with higher housing cost.

What I can talking about here is a decent standard of living with out want for food, clothing, housing, utilities, basic entertainment, etc. Now, if you try to live on this with two new cars in the driveway of an overly expensive house with a swimming pool and lots of other luxuries... it isn't enough.

But honestly, 100k for a family of 4 is plenty.

Hope this helps

Answer 11

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