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Because income is heavily skewed by outliers (e.g. Bill Gates), it makes more sense to look at the median income alongside the average income. Median household
by Perceval 16y ago
Because income is heavily skewed by outliers (e.g. Bill Gates), it makes more sense to look at the median income alongside the average income. Median household income with 1.35 earners and 2.57 household members is $44,389. That's less than the per capita average of $48,000, and it's spread over 2.5 people.
Turns out that about 70% of the households in the United States are going to be below $60,000. Divided by the number of people in the household (hits about three once you get to high enough income levels), you don't get $60,000 per person until household income rises to $180,000. At that point, about 90% of U.S. households fall below that income level.
http://en.wikipedia.org/wiki/Household_income_in_the_United_States http://en.wikipedia.org/wiki/Household_income_in_the_United_...
- derefr 16y agoThe article is vague on whether the $60,000 is actually required for each person to be happy, or whether it's simply required that you be part of an average-population household that shares a $60,000 income source. I think they mostly interviewed earners.
- rokhayakebe 16y agoThen again at $60k for one person it may include the ability to afford a decent home + car etc...hence by the time the second or third person rolls in the extra cost to achieve that happiness is not $60k per person. It could be even lower than $30k.
- flipbrad 16y agoor it makes no difference. The happiness trade-off from having the little feller around, knowing you sacrificed your next car upgrade, might make it totally worth it; but if you weren't at 60k, the sacrifices would be too large. it's possible then that 60k is just the number you need to be earning, whatever your costs base (drugs, gambling and other habits; and disabilities/chronic illnesses aside)