Is having a 6 figure income NEEDED to survive in the world nowadays?

[Kingofkings1992]

Yes! Living is FUCKING expensive!!!

Nah. Not at all. Living is actually not expensive. People’s LIFESTYLES are

[lorenzomichael]

It all depends on where you are in life your age and how do you like to live? Do you spoil yourself? Do you like keeping up with trends? Do you like impressing other people or you a simple person? Having enough money in the bank means you can make two house payments or rent, make two car payments and have enough money for groceries for a month and pay all of your utilities for two months that’s a great start. But I will tell you this it’s hard just saving for the first time to get like that. However once you’re there, it’s easy to maintain just don’t be free with your money if you know what I mean.

[lorenzomichael]

Thank you for the superb choice.
I just like to be honest when it comes to these types of questions. I know how hard it is to stay on top of finances without breaking the bank and having to borrow.

[Levin]

As insane as things have gotten, it's not that bad in northern England.

Also depends on what you spend your money on. For example, I spend more on food, because it's worth the investment in health. I don't fritter it away on certain shite though.

[Rei13]

My partner and I have to be over 6 figures to afford our current lifestyle however that’s just it. We could make significantly less and still live comfortably if we chose somewhere less expensive and cut down on our spending

[douride2]

I am living well on way less then 6 figures. I own my house & a new vehicle.. I am free of any debts. Its all paid for.

[FreyaRed]

If the question was "Is 6 figures income necessary to be happy" The anwser is no.
Do you need 100k USD per year just to survive? Nope.

Some money goblins in this forum won't agree but people can be happy without lot of money. It's just the capitalist indoctrination that make some of us think they need diamond rings, expensive travels, super cars and LV handbags to feel satisfied.

[Joshydavid25]

Nah, 6 figures is almost purely a U. S phenomenon.. Since its one of the few places where the average person has a chance at making 6 figures.. But most people don't make 6 figures and they survive well, by not being a super consumer, living within their means, and being good with their money.. Also living in a place that's not too expensive..

[Friendlybro79]

100k gross income is not enough household income in many places in this country. It def doesn't not go as far as people think. Avg house price is between 4-5 times more than that.

If you want to retire you need to put away a decent portion of that which if you want to survive in old age with risinging costs of living and future healthcare prices that doesn't leave you a lot left to buy an avg home.

[jshm2]

I know people with 7 and 8 figure incomes, who live a trainwreck life.

Money doesn't buy class or a lifestyle. People problems tend to stem from being addicted to something - and then going all in on that one thing,

[NaultD]

SIX figure income a year pre tax?

It's getting there faster than we like. For three or four kids most definitely. The sustainable population rate.

[drummerdude25]

Depends on where you live and how you live… I’d say in my area, you need to make probably $75k or so to live comfortably, if you’re by yourself.

[exitseven]

Yes, taxes are high. elecrticity is expensive, Homeowners insurance and car insurance have gone up. The 4 years of Bidenflation doubled the cost of almost everything.

[slatyb]

Six figures in what currency, and in what location? You can survive in most of the US on $100K/year, but in many cities it won't be in luxury.

[katiesmuff]

In the world overstates it as in many places a 4 figure income is considered huge!

[curiousandhonest]

Hard to buy a house if you're single in UK. Need to incomes for that. But spend within your means and 6 figures is not needed

[ProbablyClueless]

No, but it certainly doesn't hurt. It's actually pretty easy to live comfortably on less than 6-figures.

[Redstang88]

In Canada it sure is now. You’re sure as hell not getting by without roommates on less than 80

[WindAtMyBack]

No, 15K is enough to survive and have plenty left over.

[Redstang88]

Where? My rent is 24 grand a year

[WindAtMyBack]

@Redstang88

Probably most of the country by area. Just stay away from the expensive big cities.

[Redstang88]

Not sure about that. Granted the states are a bit cheaper than here but from what I here a cheap place anywhere with actual jobs is still 12-1500/mth on the low end which is already well over your claim without any living expenses

[WindAtMyBack]

@Redstang88

You can get a decent apartment for $700 or so where I live. I've spot checked several other cities and you can do the same. With a room mate even cheaper. It's true that big cities pay better. But it's also true that minimum wage takes care of the cheaper cost of living places.

People just don't know how to live cheaply any more. They don't know the difference between need and want.

Look at the original question. Even with 24K a year for rent like you mentioned, there is no way that you need 6 figures to live. Half that should be more than enough.

[Redstang88]

Minimum wage is what $8 in the states? Thats maybe $1000/mth after tax? Zero chance you could afford $700 rent on that
And on that 100k you’re losing over 40% to income tax, plus 1000/mth fuel bill, 1000/mth food, add in insurance, utilities, etc doesn’t leave much left over

[WindAtMyBack]

@Redstang88

When I said 15K, I was thinking take home pay. If someone can't afford $700 a month, then get a room mate, or two room mates. Having a place to yourself is a luxury. This goes back to what I said about people not knowing how to live cheaply any more.

The thing is that I KNOW you can live on that because i DO live on less than that. I live in a nice suburb for around 11K per year. I could live cheaper if I needed to. I spend money on all kind of things I don't need.

As for minimum wage, most states have higher than the federal minimum wage. Some have more than double. Some cities have higher than the state minimum also. But yea, take home for full time at federal minimum wage might be around 1K per month, maybe a little more. There is no federal income tax on that. But there is federal Social Security and Medicare tax, plus any state and local taxes, which are usually pretty low.

[Redstang88]

Paid off house and retired I assume? Like yeah you might be able to survive on that if you lived in the middle of nowhere, walked to work and never left the house otherwise but I wouldn’t call that living
I’ve lived with roommates, I’ve bused to work, I know where I can cut costs but the simple fact is it’s a very different story trying to get ahead these days as opposed to getting by once you’ve already made it

[WindAtMyBack]

@Redstang88

Yea, it's a paid off house. But I also live in a very high property tax location. I pay more than my friend in California whose house is worth 10X as much as mine. Utilities are double in a house compared to an apartment. Even though it's paid off, between taxes and utilities it's almost as much as an apartment, maybe even more. Not to mention all the maintenance.

I've lived most of my life below the so-called "poverty level". It's not difficult.

[Purpleronnie]

Absolutely not , but it certainly makes it more comfortable 😊

[blackeagle007]

Damn right

[HighValue]

No, not even close. Only very greedy and materialistic people think it is.

[AviatorTom]

If you live within your means, you can live quite well on less than 6 figures.

[MikeTheBartender]

Major US cities yes. Definitely the top 5, probably the top 10. Suburbs or rural not so much

[worldscolide]

Depends on where you live.. In a blue state, yes, in a red state, no.

[DrPepper12]

Depends on local COL but in NYC area that's minimum wage

[guesswhereivebeen]

It sure the hell os where I live… here your considered low income of you make less than 125k a year… you can actually get food stamps I’ve heard

[Kelley1]

No! Of course not. However, a guy having the potential to earn a six figure income by age thirty is a requirement for me to marry him.

[Kingofkings1992]

Okay, good luck with that. And what is it that you are bringing to the table?

[Kelley1]

Looks, youth, brains, education, sex, and the willingness to be a good wife and cater to my husband.

[Kingofkings1992]

So, if a man who is 30 makes $35 an hour, is he undateable in your eyes?

[Kelly6]

@Kingofkings1992
you are watching too much of those youtube video, that now you can't understand reality.
in today's inflation six figure is needed to start a family.
and by inflation now six figure is not a big number.
even new college graduate are making six figures

[Kingofkings1992]

@Kelly6 nah. Fuck that. Anyone who makes relationships about money can get the fuck away from me

[Kelly6]

@Kingofkings1992
sure

[Kelley1]

@Kingofkings1992 Staying away from you is a guarantee. especially if that means you will not be bothering me.

[Kingofkings1992]

@Kelley1 you say that as someone who came on to my post

[Filthy_Immigrant]

no and you can thank leftists and democrats for that

[Godihateyou]

A upper middle class life is achievable at 55k if you have no debtm

[DrPepper12]

Not in any metro area

[Godihateyou]

I live in Philadelphia. The biggest metro area.

[DrPepper12]

Shenanigans. A family of four? Five?

[Godihateyou]

5. Easy. You just suck

[Kingofkings1992]

Nah, that’s livable, but certainly NOT “upper middle class.”

[DrPepper12]

Agreed king of Prussia!

[msc545]

Maybe not needed, but sure as hell preferable.

[Anonymous]

No but id say to not have to worry about living paycheck to paycheck it has to be around 70000

[heruncommonsense]

In the bay area?

[loveslongnails]

That depends entirely on where you live.

[beefcakebradybatson]

And SEVEN figs to be comfortably well-off.

[Anonymous]

Yes, I believe so.

[FunkyMonkee]

I'd be happy with 5.

[RedWine9]

Yes and a mortgage.

[blackeagle007]

Is 6 or 7 figures needed for the guy as a requirement for you?

[RedWine9]

Um I have a girlfriend and it's not the money. It's the person.

[blackeagle007]

You’re probably a rare type of woman then. It’s mostly about $ for them

[Anonymous]

People = pigs