250k is the new 100k?

17 years ago

100k isn't what it used to be,lol...Interesting to see only less then 6% of "individual" incomes make more then that..Total household income of 100k is less then 18%...very surprising to read that

Here is a link that might be useful: 250k is new 100k

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Comments (4)

jakkom
17 years ago
In the SF Bay Area, that's about right. My DH makes less than $100K after 35 yrs with a state agency, whereas a 31-yr old friend of ours makes over $100K in the marketing division of Charles Schwab. We're definitely in the mid- to low-middle class around here.

But we're still doing better than many, since DH's job comes with a defined benefit pension with COLA and super-cheap retirement health bennies. And our home is paid off, so that's a load off, too. So we count our blessings, LOL!
jy_md
17 years ago
It sounds about right - I remember my sister saying that she didn't feel comfortable until their income hit $150k (but they live in No. Virginia outside DC) in 1997 or so.

That said, in DC people earning $100K are not hurting by any means. They just can't buy the MB, BMW, designer clothes, elite private school and other trappings of "high income". But chances are, they live in nice areas, attend good schools, go to nice restaurants, drive nicer cars, are able to save money and generally be comfortable.

I agree that it's largely geographical. Some friends moved from DC to Houston and found that $85K goes a LOT farther in Houston, mainly because housing is so much more affordable, but so are food and gas. They were able to live in a single-family house instead of a townhouse.
eal51
17 years ago
Come on up to Fairfield County in Connecticut. $100K doesn't do you much good. You won't be living in Greenwich or north Stamford or Norwalk or Weston or Westport or Ridgefield.

Even in northern Fairfield county, $100K in tight in the greater Danbury area - though housing is more affordable up north. But don't tell my son & daughter-in-law that. The won't believe you right now.

Enjoy the journey.
eal51 in western CT
bethesdamadman
17 years ago
jy md: "Some friends moved from DC to Houston and found that $85K goes a LOT farther in Houston, mainly because housing is so much more affordable, but so are food and gas. They were able to live in a single-family house instead of a townhouse."

Ironically, under the federal government's locality-based pay system, a federal employee in Houston will be paid more than his counterpart in Washington, D.C. doing the exact same job.