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Thanks for your reply. Maybe it has to do with WWII. After WWII, the US was the only great economic power left undamaged. Our industries supplied the world, an
by tedsanders 13y ago
Thanks for your reply.
Maybe it has to do with WWII. After WWII, the US was the only great economic power left undamaged. Our industries supplied the world, and they boomed. That wealth trickled down to many people in the US. Now, decades after WWII, other countries around the world have developed their own industry, driving down global prices and wages. As a result, perhaps the average global worker is better off, but the average US worker is worse off. This may partly explain why median wages have been stagnant in the US since 1974ish.
I wonder how much of comfort is attitude or perspective. I also happen to be a single man living in a high-rent city (Palo Alto). My income is about $30,000. Rent is my largest expense by far, but overall I feel quite comfortable. I manage to contribute $5k each January to my Roth IRA. No doubt if I had children or medical expenses, my $30,000 income would be strained, but right now I feel relatively comfortable on it. My needs are met.
- eqdw 13y ago> I wonder how much of comfort is attitude or perspective. I also happen to be a single man living in a high-rent city (Palo Alto). My income is about $30,000. I live in a shitty small apartment in a run down part of SF, and my annual rent is $20,000. Either you're talking net income, PA is way cheaper than I've been led to believe, or there's some factor I'm missing
- tedsanders 13y agoMy rent is about $12,000 a year. I guess the missing factor is that Palo Alto is cheaper than San Francisco (though certainly not cheap! :D).