4 ms·

Don't get sick, have kids, want an education, want a house, or get old. That's how.

anoncoward111 8y ago
This is the correct answer. The modern salary given to someone who is extremely responsible and frugal is enough to cover rent, food, transportation, and the various insurances needed to cope with all of the above.
- hycaria 8y ago
  What is to be understood from your comment ? That we should not aspire or be encouraged to be responsible or frugal ?
  - anoncoward111 8y ago
    Oh, what I mean is, the original comment said "how does someone live on $59,000?". Then someone commented, "don't get sick, don't have kids, etc". Then I responded by setting some parameters. "As long as you are frugal and responsible, $59,000 a year is enough to make sure you are fed and sheltered and that's about it". If someone chooses to spend their $59,000 on a new BMW and 5 vacations to Paris and granite countertops, then $59,000 will not even be enough to feed them and pay their rent/mortgage bill! :)
drdaeman 8y ago
I suspect the parent had asked because there are quite a few countries where median is less than $10000/year.
- pmoriarty 8y ago
  The cost of living in those countries is also much lower than in the US.
  - drdaeman 8y ago
    True for many places but not for all. I'm sure there are places in the world where cost of living is not that much cheaper, while income levels are significantly worse than in the US. I'm thinking of Moscow in particular (where rent prices are also quite high). 2017 median income was, reportedly, about 63k RUB/month (~$1k/mo) after the taxes: https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Russia&country2=United+States&city1=Moscow&city2=New+York%2C+NY https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou... That makes (very roughly) 2.5x cheaper cost of living difference to the US, while income difference is, very roughly, about 4x less ($12k vs $50k after taxes)

This is the correct answer. The modern salary given to someone who is extremely responsible and frugal is enough to cover rent, food, transportation, and the various insurances needed to cope with all of the above.

hycaria 8y ago
What is to be understood from your comment ? That we should not aspire or be encouraged to be responsible or frugal ?
- anoncoward111 8y ago
  Oh, what I mean is, the original comment said "how does someone live on $59,000?". Then someone commented, "don't get sick, don't have kids, etc". Then I responded by setting some parameters. "As long as you are frugal and responsible, $59,000 a year is enough to make sure you are fed and sheltered and that's about it". If someone chooses to spend their $59,000 on a new BMW and 5 vacations to Paris and granite countertops, then $59,000 will not even be enough to feed them and pay their rent/mortgage bill! :)

drdaeman 8y ago

I suspect the parent had asked because there are quite a few countries where median is less than $10000/year.

pmoriarty 8y ago
The cost of living in those countries is also much lower than in the US.
- drdaeman 8y ago
  True for many places but not for all. I'm sure there are places in the world where cost of living is not that much cheaper, while income levels are significantly worse than in the US. I'm thinking of Moscow in particular (where rent prices are also quite high). 2017 median income was, reportedly, about 63k RUB/month (~$1k/mo) after the taxes: https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Russia&country2=United+States&city1=Moscow&city2=New+York%2C+NY https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou... That makes (very roughly) 2.5x cheaper cost of living difference to the US, while income difference is, very roughly, about 4x less ($12k vs $50k after taxes)