How much does the Average American Make? How much does the typical American family make? This question is probably one of the most central in figuring out how we can go cheapest Place To Buy Bitcoin Online Litecoin Mining Comparison Pools 2018 fixing our current economic malaise.
After all, we don’t hear many people saying in today’s world that they have too much money. Even today, all the elixirs and remedies being thrown around fail to focus on income and the big brother of income, solid employment. As you can see from the above chart, only 17. 65,000 is astounding given how expensive other cost of living items have gotten over the past decade. That is why the middle class is feeling squeezed from all different sides. 100,000 I received a bit of feedback on both sides. Even though I realized very few people had household incomes in the 6 figure range looking very closely at the data, I can understand why people took issue with a budget that was at that level.
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What is even more fascinating, is how even amongst the super wealthy income is not distributed evenly. Even at that, the top 0. 5,500,000 and accounted for 11,000 households. For us mere mortals, it is important again to focus on that chart. 46,000 does not go a long way.
In a recent Census report there are 110,000,000 households in the United States. Let us assume this is a married couple with 1 child. I ran the numbers for a state with no state income tax, Texas. We didn’t even account for any pre-tax retirement account investing. 50 trillion in global wealth, maybe that wasn’t such a bad idea.
Since this article was written, not much has changed on the household income front. 25,000 per year in household income. If you enjoyed this post click here to subscribe to a complete feed and stay up to date with today’s challenging market! 80,000 home and traded up as they built equity and the home appreciated.
If you are going to be realistic, be realistic. It behaved consistently with all of the applicable influences, i. We cannot finance our way to a wealthy lifestyle. What we need is a focus on jobs and our economy, not bailing out banks. The Federal Gov’t needs to focus on its constitutional responsibilities. Cutting down the excesses of gov’t and dramatically reducing taxes is a good start. End income taxes and establish a sales tax system.
Taxes on corporations always come back to the consumer as a hidden tax. Attract major employers back to the US by greatly simplifying compliance costs. Encourage a health system that is not dependent upon employment. But it must be a truly free market solution. Those that believe we can ever live in a totally free market are living in fantasy land. Society must be protected from its own greed and the damage to others that greed will do. Socialism, but Capitalism must ALWAYS be watched for those who would exploit it for their own gains!
The median family did purchase a 280K house in CENTRAL Ca where the median income is 46K. 150K in Wisconsin, where gee whiz, the average house cost about 3 times annual earnings. I need to stop now, cause I’m making too much sense. Move to Wisconsin and get real. Oh, and for you Snow haters, wake up. There is a new invention it’s called 4 wheel drive and heated seats, shopping on the internet, and indoor heat. You can live in snow, so take that you So Cal Snobs.
4,0000 dollar a month house payments. I’m considering making my first home purchase. I have followed the markets over the past couple years and agree that eventhough prices have drastically come down, they still seem over-inflated. Suspending bank forclosures may aleviate some of the issues out there right now, but I think it all comes back to what people can reeally afford and sustain. When your parents bought their first home for 5,000 back in the 40’s, how much of a stretch was that for them? What was the percentage of their mortgage in relation to thier income?
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These are things I would like to learn to compare with where we are today and where we came from. I own a home in Texas and the math that this article dishes out about the average Texan paying 200K for a home is pure Baloney! The Median Home price is actually 126K! Compare that with a California Median price of 360K.
It is baloney, but so is the average person making 46k a year. Try 25-30k and 100-125k and you’re closer to reality. Also toss in the need to buy a car every 3-4 years due to the long commutes to work. His analogy was an average-income person in this country with an average-priced house, but singling out Texas to remove state income taxes from the calculation. Still, it’s better than the east and west coast, especially the superheated cities, where the state taxes and local sales taxes are also the highest. The numbers may not be entirely accurate. But the article and its details were superbly captured.
I do believe in in the depravity of Man, but you can’t regulate that out of the equation. We must refuse to reward it. A belief in Free Markets does not mean there should be no laws or regulation. Many of us in NY are living on less money and with some wise and frugal planning one can make it.
And they wonder why the bottom fell out of the real estate market. I have been making huge bonuses for the last 8 years. I’ve written my rep, and senators, but they are as clueless as Paris Hilton. 8 years you have worked in your job position and deserve every penny. Finally, I do agree that some Americans got tremendously greedy, especially, those house-flippers and mortgage brokers, and there’s enough blame to go around. However, I just think that we all need to re-evaluate our own lives, period. Does every room have to have computers and televisions?
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Does every home really have to have two cars? Must every child have a cell phone? Do you HAVE to have a vacation EVERY year? This economic downturn has me and a lot of my friends really re-evaluating the things that are truly important, i. Just the other day, we forfeited eating out, met at a friend’s house, played board games and cooked our own meal.
I hadn’t had so much fun in months! Also, I barely use my car anymore. HUGE bonuses, couldn’t you just pay cash for your awesome beer keg instead of financing it for 3 years? That doesn’t seem to fit reality. 15 to 30 a year or nothing. 80’s you could get a lone for a home and pay 400 a month. I know is doing this and I know hundreds.
OK to charge people so much. 60000 at the moment single 24, i could be making more probably if i’d passed university at 20 if it weren’t for alcohol and women. I had no idea everyone around me was poor too! And I thought the BMWs and Mercedes meant people actually made a lot more. This is really a sobering message for me. 11K per year, can you make me a budget? You write and blog with some real conviction and purpose i liked every damn post I read.
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I catch myself calling you a prick at the same time. I think we are all pretty screwed here. The next few months could get scary. Exactly the reason my wife and I wont buy a home.
I dont mean to play devils advocate but if people only average 46,000 year, why do they accept the price of a 200K home? Prices would naturally go down if people would stop buying homes at 200K. We can blame the govt and the banks but at the end of the day it us to blame. You sir are scum and everyone blaming the finance industry should be put in jail. Banks are pivotal to the economy and I can attest that executives working at them deserve to have the most incredible lives with everything imaginable for them and their children. If it is wealth distribution you seek, communism is more your speed. If I am an entrepreneur who is willing to put my house, fortune, and credibility on the line in order to pursue my economic interests, am I not entitled to the fruits of my labor?
Truth is many people dream of working for themselves but for whatever reason never seem to try. People may not like scraping by and living life constantly aware of a budget. But they seem to prefer it, as oppose to risking the unknown. No man is obligated to except that his capital worth is menial. Just like no man is obligated to except that he should run a business.
It is freedom to change our fate that’s important. Remember it is no more morally right to take a man’s wealth through legislation than it is with a gun. I feel for those people who are trying to make it on 46k a year. I hate to see it happen. My family of 3 makes 45,000 a yr. It is tight but u can do it. Make up a budget and stick to it.
Sometimes things come up that u dnt count on like a car repair and that can blow ur budget. Just plug along and do the best u can. Our only debt is our mortgage of 88,000 left to pay. We have no credit card debt and own or car and small boat. So, who are the extra 17.
Or, are all the numbers in the article suspect? I do not want to rain on anyones parade, but facts HAVE to add up, or it is just another internet hoax. When you morons let Bushy steal term two it was all over. 2004 was the year I officially lost faith in the American people. WI that you had in CA, you’ve been too much cheese.
I’m glad you left the state and took your lack of logic with you. Have you been consuming more than your quota of the local product, or are you getting much dairy? I think perhaps you’ve had a tad too much of it yourself. Maybe you should take a road trip to Wisconsin and see for yourself what a home comparable to yours would cost. Health coverage was a main factor. Illegal’s have free care plus a Govt.
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And never paid in a dime. One illness in America would wipe me out. 4 to see a english speaking doctor here. Herman: Redshirt madness notwithstanding, it’s beginning to look like my own retirement will look something like yours. I can’t seem to make ends meet here, so can’t save for retirement.
Social Security payments will be joke by the time I retire some 20 years hence. We have rented a 2-bed room apartment in Southern California for 4 years. 80k or more for a down payment. The income and wealth analysis on this website is excellent. But one gets the feeling that the middle class is greedy too and it is grumbling because it has not got the benefits of greed.
The rich got rich by harnessing the inherent greed in the society. Why for example does an average household need a 200k home. Why do middle class families need swimming pools in their backyards. Public transportation can be very cheap, eco friendly and generate millions of jobs in manufacturing, maintenance and operations. Yet Americans have opted out of this. Why does anybody need the latest cell phones, music players, cameras and TVs?
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Everybody has become greedy, some more than others. That’s the best I can do and attend school. What else am I supposed to do? How can people in the top 3rd live with themselves when there are people like me and people even worse off. I’m not a bad person, I just try to better myself and seem to fall further and further behind because I have nothing to start with. My husband and I both work fulltime and make just under 50k.
The sad thing is we both have degrees. I have a masters and he has his bachelors. We have worked very hard just to get to this point, and have no intention of quiting. Not a pity party, just reality. We really need to reevaluate the value of products and everything that goes into supplying them.
People wouldn’t require as high a salary if the products weren’t as expensive. Reality is that we will only continue to increase the cost of things to pad business pockets and require the public to shell out more and more money. Owning a home is a privilege not a right, if you can not afford to put down more than 20 percent than you either look for another home cheaper or rent till you save enough to put down. The article makes assumptions that may or may not be in line with reality.
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The article doesn’t come close to analyzing my brilliant situation, so allow me to let you in on the New American Dream. It’s not a house, a fancy car, a riding mower with headlights. To begin, learn something about technology, computers that is. You can go into companies and recommend things that they do, instead of doing them yourself. The facts are that B of A asked for a specific amount, however the government forced the bank into borrowing more money than needed or asked for.
Move to a motel here in NH, we have no state income tax. 5 YEARS AGO i WAS MAKING 100 TO 125k PER YEAR WITH A 5k SQ. HOME W A POOL AND 3 CAR GARAGE. LIVED IN A NEIGHBORHOOD IN A 400k HOME AND MY NEIGHBORS WERE PROFESSIONAL ATHLETES AND BUSINESS OWNERS. DON HENLEY OF THE EAGLES LIVED 1 MILE AWAY IN A BEUTIFUL HOME ON ABOUT 10 ACRES. UNTIL I HAD A SMALL STROKE THAT HIT MY BRAIN IN A STRATEGIC SPOT THAT TOOK AWAY MY SHORT TERM MEMORY.
MONTH, MY WIFE LEFT AND HAS MY CHILDREN. HOLE, INSTEAD OF BEING AN ARROGANT JERK, WHY DON’T YOU CONSIDER WHERE YOU’D BE IF JUST ONE LITTLE BLOOD CLOT WOULD BLOCK AN ARTERY OR A VEIN WOULD POP, GOD FORBID AN ARTERY WOULD RUPTURE. YOU SEE JERK, THAT YOU DONT OWN OR CONTROL ONE VERY IMPORTANT ELEMENT OF YOUR LIFE AND THAT IS YOUR ULTIMATE OUTCOME. EVERYTHING THAT YOU ARE AND HAVE CAN BE WIPED OUT IN NANOSECONDS. THEY MAY BE THE VERY ONES THAT WILL SPOONFEED YOU AND CHANGE YOUR DIAPERS SOMEWHERE IN YOU FUTURE.
VOLUMES ABOUT YOUR QUALITY AS A HUMAN BEING. NATIONAL averages, not averages for each individual state. There were numerous posts from people in Texas about this. I don’t know if y’all have schools, but learn to pay attention to detail! Another issue I have discovered is that many people do not know the first thing about money management.
I thought it was common sense, but apparently not. I have learned that if you are planning on buying a service or product, do your research. Find the best value for the best price. There are many books and web sites available as sources. Don’t forget to add your own intuition to your decision! The average person is making 11.
00 or less per hr-thanks to this country. Thanks to this country we boast no. 1 in unhappyness,1out of 2 americans are unhappy. I have a speech issue which may contribute to my being more careful about my wording and spelling, but seriously, you can’t expect to be take seriously when you can’t spell or write properly. I don’t blame the poor woman with kids. I know there are people who take advantage of the system and are just lazy scum, but some people really try, but still need assistance.
I place the most blame on Corporate Greed. 250 times or more the amount of the average employee who actually makes things work. Corporate Greed has funneled all the money up to the top and the middle has nothing left to fund their profits with. Solution : Decrease CEO and Executive Pay to increase employee pay and you maintain profitability while ensuring your consumer base will have the ability to continue to fuel your profits. For the GM bail out , i read it was paid back with TARP money which was borrowed as well ? But this is from February so im not sure what happened. Business , but when corporations go unregulated by nature they take advantage of their workers and in some cases send work over seas to expand their margins.
Or in the case of Wal-Mart they pay workers here very little , skimp their full time to avoid benefits. What about hazardous work conditions , if it costs money to regulate your own company why would you do it when it lowers your bottom line. PRO Regulation: People want the government to be involved in business regulation. But when the government is notorious for inside dealing and illegal transactions with big business how can we trust them to do the right thing. People have continued to vote against gay marriage and the legalization of marijuana and abortion rights. Those same people generally vote against government regulation and taxing.
How can people say less government yet regulate what people want to do with their own bodies. Late night ear marks , no bid contracts , seems like the same people in the Govt go back and forth from Govt to big business , Clinton , Bush , Cheney. So how do we determine who’s in govt for their own gain or the gain of the people. 2 of the population even votes supposedly. 2 there is a almost even divide. So if 100 are in a area and only 50 vote , and 20 people vote one way and 30 people vote the other , how can the winner say they represent the majority of anything? My grandfather was a WWII vet before passing , my wife’s grandfather also Served in WWII the pacific.
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They both say things like there is a difference between what you need and want. The older generation loves their children for the most part , and follows ideals of family and responsibility. US is the best country hands down. Its people working together for a common goal which is not the current case. If they can keep us mad at each other as a community then we lose whatever power previous generations gained. Humans in some areas still live under those rules. We should respect and appreciate how far we have come and take responsibility for moving farther down the path of progress.
In my mind a good business person would only do that if they had some gain in the road ahead. Some of those were questions some obviously were opinion , if you have facts and insight into the areas that i was actually able to articulate a question please do so. I make 28k a year working at a home imprvement store. I just purchased a house that was a foreclosure for 41k, that sold back in 2007 for 137k. 2007 with all new windows siding roof drywall and flooring.
And for all the haters out there you can go shove it. I dont care Im happy just telling people my story and how I feel. We live in a decent neighbourhood in a 3 bedroom house with a cook and a servant. US and i was hoping for some practical advise. Is the job situation very bad, will we be able to land jobs that at least support a decent lifestyle. I am a hospitality professional currently managing a call centre here and my wife is a HR specialist with an american company in Bangalore. I would love to see all of the unreported wages included.