Is $68,000 the bare-bones family income?

[RDD_1210]

Is $68,000 the bare-bones family income?
This post comes from Lynn Mucken at MSN Money.


Or is it? According to a study commissioned by the nonprofit Wider Opportunities for Women, a family with two full-time wage earners and two children needs nearly $68,000 a year to afford fundamentals like housing, utilities, food, health care, transportation, saving for retirement and child care. The average such family in America makes less than that. Post continues after video.

[bold added]

Are they serious?

My family does all of that with 5 kids and a $54k income.

How can msn expect to be taken seriously when people can read that tripe and know that is exactly what it is?

Seriously, if you "need" $68k with just 2 kids, you need to check what you are wasting your money on.

$68k for a family of 4 IS low. I don't care where you live. Sure you can get by, but thats just setting the bar low. Money certainly doesn't by happiness, but it sure can open doors and opportunities to see an experience many things that you couldn't when you are just getting by.

 

[jillian]

Well yeah.

Ya don't throw a dart at the map and move hoping for the best.

You have to do some research.

but sticking it out is foolish when you can pack up and find a better opportunity to go to.

its not always that easy to move. in my case, i'd have to take another bar exam (i already passed two states)... and i think maybe i'd prefer root canal to taking another bar exam right now.

Well since you are a lawyer, I'll be willing to bet, if you chose to move and do the bar again, you'd have a very high paying job [compared to the local average} in no time.

See, it comes down to choice. What are you willing to do to be happy?
You chose a crazy amount of college to become a lawyer, so you could make a lot of money, doing whatever you specifically do. [I'm certain it was more than the money] However, your choice has you trapped inside of 2 states, b/c root canal is better than another bar exam.

I chose the Navy b/c I wanted to see the world and learn a trade. I can take my skills anywhere I want and find some kinda job doing something. But I will never cash the same kinda check you will.

Which one of us is happier?

well, i'm pretty happy, so maybe i'm not the person to ask. i worked for myself for 15 years and when it became too onerous and i wanted more time to raise my son, i downsized (and when i say downsized, i mean downsized) and took a job. but that job lets me leave work at a normal hour, not take my work home with me, and no weekends... i get real vacations now and health coverage. i get to travel for at least a short time with my whole family every summer and really can't complain.

when i was in practice, i loved that for the first 14 years, too. i did work i loved and got to meet people i never thought i'd get to meet. the last year i didn't like it which is when i knew it was time to make a change.

will there be other changes? well, my dad started his business at 52 and hasn't looked back since. so who knows what i'll do when i grow up.

and, fwiw, i really love new york and wouldn't want to live anywhere else right now.

i hope we both love where we are.

 

[High_Gravity]

$68,000 is poverty level in New York and California and even Miami too I believe.

Then somebody needs to pack there stuff up and move.

The places that have the lower cost of living tend to be the places where there's no work, or the wages are comparatively lower.

I did move TT as I think I've told you, from BurlCo NJ out here to the woods... Made sense for me as a business owner strictly in wholesale. But an underemployed home builder probably wouldn't benefit, since he wouldn't find work.

It's more complicated than "Just move" is all I'm sayin.

Thats not necessarily true, Texas and Nebraska have a decent cost of living and there are lots of jobs available in those states.

 

[High_Gravity]

You need $$$$ to move, if your living paycheck to paycheck in New York or California barely making it, its tough to move. Only reason I was able to leave California after I left the service is because the Military pays for 1 last move after you separate, thank god.

True that! I spent at least $4,000, moving here and I rented a U-Haul! Gotta have 1st, last and security deposit for 95% of apartments here. And also, who in their right mind is going to leave a job paying close to 70K in a great city like NYC with lots of opportunity and mobility, with a great transit system (remember, most NYC people do NOT have cars) to try their luck in Mississippi or Texas. There are few jobs anywhere, but it's for sure easier to get one (or two or three) here in NYC.

Plus most people won't rent to you unless you have a job, so that makes it tough when you just move somewhere without having a job first, there are exceptions but not many, most people don't feel comfortable renting to the unemployed.

 

[Sallow]

Is $68,000 the bare-bones family income?
This post comes from Lynn Mucken at MSN Money.


Or is it? According to a study commissioned by the nonprofit Wider Opportunities for Women, a family with two full-time wage earners and two children needs nearly $68,000 a year to afford fundamentals like housing, utilities, food, health care, transportation, saving for retirement and child care. The average such family in America makes less than that. Post continues after video.

[bold added]

Are they serious?

My family does all of that with 5 kids and a $54k income.

How can msn expect to be taken seriously when people can read that tripe and know that is exactly what it is?

Seriously, if you "need" $68k with just 2 kids, you need to check what you are wasting your money on.

Depends on where you live..and what your circumstances are.

68K in NYC is pretty bad.

 

[Sallow]

You need $$$$ to move, if your living paycheck to paycheck in New York or California barely making it, its tough to move. Only reason I was able to leave California after I left the service is because the Military pays for 1 last move after you separate, thank god.

True that! I spent at least $4,000, moving here and I rented a U-Haul! Gotta have 1st, last and security deposit for 95% of apartments here. And also, who in their right mind is going to leave a job paying close to 70K in a great city like NYC with lots of opportunity and mobility, with a great transit system (remember, most NYC people do NOT have cars) to try their luck in Mississippi or Texas. There are few jobs anywhere, but it's for sure easier to get one (or two or three) here in NYC.

I just moved from Manhattan to Brooklyn and spend 7K. And I did the same thing...rented a Uhaul.

That was most of my bonus.

 

[High_Gravity]

You need $$$$ to move, if your living paycheck to paycheck in New York or California barely making it, its tough to move. Only reason I was able to leave California after I left the service is because the Military pays for 1 last move after you separate, thank god.

True that! I spent at least $4,000, moving here and I rented a U-Haul! Gotta have 1st, last and security deposit for 95% of apartments here. And also, who in their right mind is going to leave a job paying close to 70K in a great city like NYC with lots of opportunity and mobility, with a great transit system (remember, most NYC people do NOT have cars) to try their luck in Mississippi or Texas. There are few jobs anywhere, but it's for sure easier to get one (or two or three) here in NYC.

I just moved from Manhattan to Brooklyn and spend 7K. And I did the same thing...rented a Uhaul.

That was most of my bonus.

$7000 on a move? holy fuck!

 

[PLYMCO_PILGRIM]

Is $68,000 the bare-bones family income?
This post comes from Lynn Mucken at MSN Money.


Or is it? According to a study commissioned by the nonprofit Wider Opportunities for Women, a family with two full-time wage earners and two children needs nearly $68,000 a year to afford fundamentals like housing, utilities, food, health care, transportation, saving for retirement and child care. The average such family in America makes less than that. Post continues after video.

[bold added]

Are they serious?

My family does all of that with 5 kids and a $54k income.

How can msn expect to be taken seriously when people can read that tripe and know that is exactly what it is?

Seriously, if you "need" $68k with just 2 kids, you need to check what you are wasting your money on.

I wish my family income was $68k/year, it would make life easier!

 

[editec]

Is $68,000 the bare-bones family income?
This post comes from Lynn Mucken at MSN Money.


Or is it? According to a study commissioned by the nonprofit Wider Opportunities for Women, a family with two full-time wage earners and two children needs nearly $68,000 a year to afford fundamentals like housing, utilities, food, health care, transportation, saving for retirement and child care. The average such family in America makes less than that. Post continues after video.

[bold added]

Are they serious?

My family does all of that with 5 kids and a $54k income.

How can msn expect to be taken seriously when people can read that tripe and know that is exactly what it is?

Seriously, if you "need" $68k with just 2 kids, you need to check what you are wasting your money on.

Look, what families need really depends on many factors.

A family just starting out does need more than one that's been around a while.

EXample? If your mortgage is 20 years old, it's a lot less painful than new ones because your house cost a lot less than somebody who bought between say from 1990 - 2000?

Plus the differences in cost of living rural v city, regional and so forth is VAST.

FWIW I'm mostly coasting on an income that is about 40% of what I made in the early 90s!!!!

How can I do that?

Low mortgage, much of what I need is already bought and paid for, too.

A family just starting out has all the costs associated with starting up, and is facing enormous price increases at the same time, and their careers have as yet not really taken off.

Expenses mostly go down as you get older except for health care.

 

[Two Thumbs]

You need $$$$ to move, if your living paycheck to paycheck in New York or California barely making it, its tough to move. Only reason I was able to leave California after I left the service is because the Military pays for 1 last move after you separate, thank god.

True that! I spent at least $4,000, moving here and I rented a U-Haul! Gotta have 1st, last and security deposit for 95% of apartments here. And also, who in their right mind is going to leave a job paying close to 70K in a great city like NYC with lots of opportunity and mobility, with a great transit system (remember, most NYC people do NOT have cars) to try their luck in Mississippi or Texas. There are few jobs anywhere, but it's for sure easier to get one (or two or three) here in NYC.

I just moved from Manhattan to Brooklyn and spend 7K. And I did the same thing...rented a Uhaul.

That was most of my bonus.

jeezuz krist!

Yall need to shop around a bit.

counting 2 month rent and the uhaul and gas, I moved the family for less the 2000

Get the fuck out of NYC, seriously. for $7000 I could have had people pack my house up, move it and unload at the next place, THEN have them buy us dinner.

 

[High_Gravity]

True that! I spent at least $4,000, moving here and I rented a U-Haul! Gotta have 1st, last and security deposit for 95% of apartments here. And also, who in their right mind is going to leave a job paying close to 70K in a great city like NYC with lots of opportunity and mobility, with a great transit system (remember, most NYC people do NOT have cars) to try their luck in Mississippi or Texas. There are few jobs anywhere, but it's for sure easier to get one (or two or three) here in NYC.

I just moved from Manhattan to Brooklyn and spend 7K. And I did the same thing...rented a Uhaul.

That was most of my bonus.

jeezuz krist!

Yall need to shop around a bit.

counting 2 month rent and the uhaul and gas, I moved the family for less the 2000

Get the fuck out of NYC, seriously. for $7000 I could have had people pack my house up, move it and unload at the next place, THEN have them buy us dinner.

Actually $7000 for a move in New York makes sense, but I spent like half that when I moved from California to Virginia.