4 ms·
There is still something to be said of the cost of basics has increased by an order of magnitude. I would argue that today's 30 year olds certainly have access
by drbobmd5 5y ago
There is still something to be said of the cost of basics has increased by an order of magnitude. I would argue that today's 30 year olds certainly have access to more options that simply didn't exist in the 50s or at least weren't commonplace, hence more things to spend one's pay on, but it would be near impossible to raise a family of four modestly on a middle class wage in most American cities/suburbs.
- missedthecue 5y agoImpossible is a term that is probably much stronger than you meant to use. I grew up in a family of 8 (many adopted children) in American surburbia, on one income, and we never wanted for much. The breadwinner never even breached a six figure income. And this was not long ago. I have likely been around the sun fewer times than you have.
- n4r9 5y ago> The breadwinner never even breached a six figure income Raising 6-7 kids on less than 100k sounds tough, although I'd guess you're getting towards the upper end of middle class by that point. The median household income in NYC is around $64k according to USCB, which leaves around $52k after taxes and social security. The rent on a three-bed in Brooklyn doesn't seem to go much below $2k per month, which leaves $2.3k per month for bills, groceries etc... .
- missedthecue 5y agoMost Americans don't live in NYC, and $2.3k for bills and groceries is more than enough.
- n4r9 5y agoCar, healthcare, pensions and groceries wouls take it to around $2k, leaving $300 for entertainment and eating out. It's doable but pretty tight.