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(NBC Washington)   Americans announce that they simply cannot feel financially healthy without earning at least $122,000 per year. Also, I'm tired of driving on roads that aren't made of licorice. Someone fix that; I get hungry on long drives   (nbcwashington.com) divider line
    More: Unlikely, Employment, Finance, Investment, Economics, wage increases, labor market, ongoing labor shortage, Supply and demand  
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2944 clicks; posted to Politics » and Business » on 20 Jan 2022 at 2:50 PM (18 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-01-20 2:44:41 PM  
 
2022-01-20 2:49:08 PM  
The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.
 
2022-01-20 2:51:16 PM  
With that salary, I could actually pay off my student loans in 10 years or sooner.
 
2022-01-20 2:52:02 PM  

Pocket Ninja: The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.


Except that black licorice islicorice. Every other flavor is just using the word incorrectly since the consistency of the candy is the same. The flavor is licorice, and that's only black.


Pet peeve.
 
2022-01-20 2:52:28 PM  
Joke's on them. One medical catastrophe and they're farked. . .
 
2022-01-20 2:53:13 PM  
Remember: don't call out the system that makes people feel that unstable and desperate, call out the people for being desperate.
 
2022-01-20 2:53:34 PM  
If you want to buy a house these days, you better be making six figures.

I'm not, so I guess I'll follow what the market is telling me and go fark myself.
 
2022-01-20 2:53:50 PM  

Bathtub Cynic: Except that black licorice islicorice. Every other flavor is just using the word incorrectly since the consistency of the candy is the same. The flavor is licorice, and that's only black.


Lies.
 
2022-01-20 2:54:42 PM  
I imagine Black licorice tastes like Satan's cock.

Asphalt is truly the only visible use for it.
 
2022-01-20 2:55:04 PM  

Pocket Ninja: The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.


Asphalt tastes better.
 
2022-01-20 2:55:24 PM  
Beef jerky is more nutritious and would probably be more durable.
 
2022-01-20 2:55:26 PM  

Pocket Ninja: The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.


I don't have the proper tread for licorice.  I'm going to call right now and request licorice tread on all my tires.  I'll lick that problem right there with a proper "wtf are you talking about" phonecall.  Or maybe I'll get that one guy who says "okay, would you like red or black licorice tread?" and then we're talking promotion time.
 
2022-01-20 2:55:58 PM  
$120K a year is more that three time lower than the real poverty level.
 
2022-01-20 2:56:54 PM  

NM Volunteer: With that salary, I could actually pay off my student loans in 10 years or sooner.


I could pay off my mortgage and other debts a lot sooner with that salary.
 
2022-01-20 2:57:02 PM  
So the average person is a serf. What else is new in America.
 
2022-01-20 2:57:35 PM  

Andric: If you want to buy a house these days, you better be making six figures.

I'm not, so I guess I'll follow what the market is telling me and go fark myself.


Oh come on. Surely income has kept pace with the rise in housing costs!
 
2022-01-20 2:57:35 PM  
If you're American and feel comfortable on $122k then you're not contributing to your retirement as much as you should be because there are no pensions in the USA. You're basically on your own.
 
2022-01-20 2:58:28 PM  

comrade: If you're American and feel comfortable on $122k then you're not contributing to your retirement as much as you should be because there are no pensions in the USA. You're basically on your own.


Who needs a pension or retirement funds when you're just going to die before you can collect them?
 
2022-01-20 2:59:35 PM  
"There are people who make $50,000 and are in great shape and people who make ten times that who won't be able to do what they want to," Birk said.

fark outta here.

There may be a few people who are King shiat of Turd Mountain and have managed to scrape up $50k with a fully funded pension waiting for them while living in the ass-end of nowhere on inherited land, but I don't know anyone who makes $50k and thinks there's a future ahead of them.

I'm also quite sure there are people who make $500k who manage to piss it all way, although not many since that's $160k a year above the 1% cutoff. Am I supposed to feel better I'm not one of them, Birk?

You know the nice part about making $500k a year and pissing it all away though? The $41,000 paycheck that's going to land in your account next month.
 
2022-01-20 2:59:41 PM  
wallpapertops.comView Full Size
 
2022-01-20 3:00:03 PM  
Money can buy happiness after all.

The only reason they say it can't is as a platitude from the rich to make you feel better about your lot in life.
 
2022-01-20 3:00:13 PM  
If wages had kept up with inflation since the 1960's $122,000 is a real number. The question was how to feel financially healthy, not just survive.
 
2022-01-20 3:00:37 PM  
Is that per person, or per household? My wife and I are over that together, but not individually. We're pretty comfortable, and would be more so if we hadn't just renovated our house.
 
2022-01-20 3:00:45 PM  
I don't need anywhere near that amount.

... but only because I bought a house in 2000, and don't have expensive tastes on clothes, cars, etc.

Anyone who's starting out today is pretty well screwed, as you cant find apartments for anywhere near what I was paying when I was in my 20s ($600-700/month) unless you're in some place with no jobs available.
 
2022-01-20 3:01:34 PM  
Isn't that figure usually reported at around 75k?

In other words, people are getting greedier as far as their perceived goal for quality of life.
 
2022-01-20 3:01:48 PM  

meat0918: Money can buy happiness after all.

The only reason they say it can't is as a platitude from the rich to make you feel better about your lot in life.


Fark user imageView Full Size
 
2022-01-20 3:02:04 PM  

Taketombo: So the average person is a serf. What else is new in America.


No, lower than a serf. A serf had a home and couldn't be kicked off the land, which is why so many resisted being "liberated" and sent to the cities.
 
2022-01-20 3:02:06 PM  

meat0918: Money can buy happiness after all.

The only reason they say it can't is as a platitude from the rich to make you feel better about your lot in life.


I heard it said earlier today that "Money can't buy happiness, but it sure can make misery a lot more fun."

Totally stealing that one.
 
2022-01-20 3:02:13 PM  
Considering taxes and health care on $122,000 would be around 40,000, leaving ~$80,000.

Rent, food and cost of living is about $50k, about double the poverty line.

So you have about 30k a year, or $2,500/month, to save or spend on BS. You can now afford to take a vacation, or a sick day. Imagine that.

That is indeed healthy.
 
2022-01-20 3:03:26 PM  
The thing is....there is absolutely no reason why we cannot all be sustainably comfortable, fed, clothed and housed. We've created the myth that to get something, you have to do or give something.

/ All we really do when we "pay" for something is give someone else some pretty paper scraps or shiny metal. We're no better than a penguin who gives its beloved a shiny rock because its beloved loves rocks.
 
2022-01-20 3:03:44 PM  
It wasnt that long ago that in my area a household income of 50k was plum uppity. But now its not that great. Everything has gotten so expensive so fast its taking time for adjustment. 5 yrs ago rent here was 5 to 700 for a decent rental. Its 900 and up now. The house we live in now on the current market would bring in about half again as much as it would 5 yrs ago. We are raising a 11 yr old grandson and I swear it is more expensive than it was to raise 4 sons and a daughter. And we dont live extravagant. Vehices are 7 10 and 11 yrs old. Luckily we raise cattle chickens pigs and usually have a good sized garden to can stuff from for later. And on 150ishk we do about as well as we did when we had none of the above and 60k in income.
 
2022-01-20 3:04:05 PM  
As usual, the makers of these surveys only ask people in the greater New York area.
In most of the country, if you make $122000 a year you are very well off.
 
2022-01-20 3:04:33 PM  

Somaticasual: Isn't that figure usually reported at around 75k?

In other words, people are getting greedier as far as their perceived goal for quality of life.


See also: hyperinflation.
 
2022-01-20 3:04:47 PM  

spleef420: Pocket Ninja: The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.

Asphalt tastes better.


You are both bad people and should feel bad.
 
2022-01-20 3:06:08 PM  

iheartscotch: The thing is....there is absolutely no reason why we cannot all be sustainably comfortable, fed, clothed and housed. We've created the myth that to get something, you have to do or give something.

/ All we really do when we "pay" for something is give someone else some pretty paper scraps or shiny metal. We're no better than a penguin who gives its beloved a shiny rock because its beloved loves rocks.


I believe penguins give rocks fur nest building because it's a form of prostitution in the animal world

Wait a minute....were you speaking in parables about the plight of the worker?
 
2022-01-20 3:06:20 PM  

Bathtub Cynic: Pocket Ninja: The problem with licorice roads is that the default solution would be to use black licorice. And that's just as bad as not having licorice roads at all. In fact, that's probably worse.

Except that black licorice islicorice. Every other flavor is just using the word incorrectly since the consistency of the candy is the same. The flavor is licorice, and that's only black.


Pet peeve.


I prefer mine colorless

Fark user imageView Full Size

*licorice flavored, may or may not contain actual licorice
 
2022-01-20 3:06:24 PM  
Everyone needs to earn about $10,000 more than they earn to feel financially secure.

Until you get to seven figures, chances are you're going to spend the money you bring in.

The person who makes $50K puts food on the table, drives an old car, and pays the rent.

The person who makes $100K puts food on the table (and eats out at nice restaurants from time to time), drives a late-model car, and owns a $200-$300K house.

The person who makes $200K puts food on the table (and more frequently eats at restaurants), drives a new car or a luxury brand car, owns a $450K house, and goes on a nice vacation every year.

The person who makes $400K does whatever they want for food, drives a new luxury-brand car, owns a $650K house, goes on two nice vacations every year, and maxes out their 401(k) contributions so they retire a bit sooner.

Each step along the way, you feel like "if I only made a little bit more, I'd be financially secure".  But really it's because, once you have more than your basic needs met, your  spending habits simply adjust to however much money you have.
 
2022-01-20 3:06:37 PM  
Wouldn't that income number greatly depend on where you live? 122k probably doesn't go very far in San Francisco or Manhattan.
 
2022-01-20 3:06:40 PM  
"There are people who make $50,000 and are in great shape and people who make ten times that who won't be able to do what they want to," Birk said.

Maybe if you are a very decent subsistence farmer.

Let's say this sole-earner is flying solo. That puts them in the 22% tax bracket ($11,000), so right off the bat that $50K is reduced to an effective $39K. Average cost of groceries for one person/year? Approx. $2,500 (although with current inflation...). So now we're down to the $37K neighborhood. Rent? Average rent for a STUDIO apartment (forget subsistence farming) is $1,691/month according to rent.com. We'll round that up to $1,700 and that's $20,400 for the year. So after income tax, rent and groceries, our lone earner is now down to $17K for the year. Average cost of utilities for a year (water, electric, gas, trash, internet access) is about $370/month. That's brings the earner down to a bit less than $13K. Oops! We forgot about state taxes. In Minnesota, a $50,000 income will get you a $10K+ tax bill. So our sole earner who clearly isn't a subsistence farmer at this point is now down to about $3K for the year and we haven't talked about car/transportation costs, clothing, medical/dental....

Anybody who thinks you can live comfortably on an income of $50K/year in the USA as it exists today is insane.
 
2022-01-20 3:06:51 PM  

Claude Ballse: iheartscotch: The thing is....there is absolutely no reason why we cannot all be sustainably comfortable, fed, clothed and housed. We've created the myth that to get something, you have to do or give something.

/ All we really do when we "pay" for something is give someone else some pretty paper scraps or shiny metal. We're no better than a penguin who gives its beloved a shiny rock because its beloved loves rocks.

I believe penguins give rocks fur nest building because it's a form of prostitution in the animal world

Wait a minute....were you speaking in parables about the plight of the worker?


No one is getting my shiny rocks.
 
2022-01-20 3:06:59 PM  

misanthropic1: Somaticasual: Isn't that figure usually reported at around 75k?

In other words, people are getting greedier as far as their perceived goal for quality of life.

See also: hyperinflation.


Hyperinflation:  defined as 50% a month.  That means in February you will need $183,000 and in March you will need $274,500.

We're all going to be rich.  I understand economics very well.
 
2022-01-20 3:07:38 PM  

misanthropic1: Somaticasual: Isn't that figure usually reported at around 75k?

In other words, people are getting greedier as far as their perceived goal for quality of life.

See also: hyperinflation.


Fair counterpoint...

On the plus side, I bet our trillion-dollar notes will look better than a pile of rocks....
 
2022-01-20 3:09:00 PM  
Living in SoCal is much more expensive than rural Michigan (examples of where I grew up [MI] and where I currently reside). If I lived where I grew up w/my current income, I'd think I was rich! But since the house I live in has a current zillow estimate of $770k (accurate based on sales prices in my neighborhood) and everything else in CA seems to cost more than most places, my income doesn't seem to go all that far.

I am lucky to have a spouse who makes about the same as me, and we both are able to max our retirement contributions. But neither of us feel like we are all that secure, and we have very secure occupations.
 
2022-01-20 3:10:29 PM  
And where are my hot & cold running cheese taps?

Don't try to tell me this is the future.
 
2022-01-20 3:10:41 PM  

BitwiseShift: $120K a year is more that three time lower than the real poverty level.


You know "K" means thousand right?
 
2022-01-20 3:10:59 PM  

NuclearPenguins: Claude Ballse: iheartscotch: The thing is....there is absolutely no reason why we cannot all be sustainably comfortable, fed, clothed and housed. We've created the myth that to get something, you have to do or give something.

/ All we really do when we "pay" for something is give someone else some pretty paper scraps or shiny metal. We're no better than a penguin who gives its beloved a shiny rock because its beloved loves rocks.

I believe penguins give rocks fur nest building because it's a form of prostitution in the animal world

Wait a minute....were you speaking in parables about the plight of the worker?

No one is getting my shiny rocks.


We know how you got those shiny rocks.
 
2022-01-20 3:11:04 PM  

Porous Horace: And where are my hot & cold running cheese taps?

Don't try to tell me this is the future.


Sorry, best we can do is cheez.
 
2022-01-20 3:12:33 PM  

Andric: If you want to buy a house these days, you better be making six figures.

I'm not, so I guess I'll follow what the market is telling me and go fark myself.


If you post the video of farking yourself to OnlyFans you might make an additional $3.99 or so?  Still not in 6 figures?  Maybe do it dozens of times?
 
2022-01-20 3:12:33 PM  

SpectroBoy: BitwiseShift: $120K a year is more that three time lower than the real poverty level.

You know "K" means thousand right?


His bitshift went the wrong direction.

Common mistake.
 
2022-01-20 3:13:10 PM  

Koodz: Sorry, best we can do is cheez.


now in industrial strength

Fark user imageView Full Size
 
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