Does having a 'six figure' salary mean what it used to mean?

[Anonymous]

"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

[Anonymous]

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

[Anonymous]

Anonymous wrote:It depends on your debt. I make very low six figures, and I don't watch every penny. The only fixed debt I have is the mortgages.

I worked hard to get here, and it feels very comfortable to me.

+1 same

[Anonymous]

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

So you're talking about specific neighborhoods. In that case, you could find those in any state in the country.

[Anonymous]

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

Nothing complicated OP - it's inflation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

So you're talking about specific neighborhoods. In that case, you could find those in any state in the country.

No. It wasn't specific to a neighborhood.

http://www.bizjournals.com/washington/blog/2014/08/median-incomes-for-four-person-households-in-d-c.html

"Maryland leads in the latest estimates, as it did last year, with a four-person median household income of $106,452, up from the 2014 estimate of $105,348...The District, meanwhile, made a huge leap year over year, from $87,902 in 2014 to $100,408 in 2015... Virginia, with an estimated median four-person household income of $91,442, is sixth among the states."

[Anonymous]

Employers seem to think so!

[Anonymous]

Anonymous wrote:Employers seem to think so!

Lol so true!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

So you're talking about specific neighborhoods. In that case, you could find those in any state in the country.

No. It wasn't specific to a neighborhood.

http://www.bizjournals.com/washington/blog/2014/08/median-incomes-for-four-person-households-in-d-c.html

"Maryland leads in the latest estimates, as it did last year, with a four-person median household income of $106,452, up from the 2014 estimate of $105,348...The District, meanwhile, made a huge leap year over year, from $87,902 in 2014 to $100,408 in 2015... Virginia, with an estimated median four-person household income of $91,442, is sixth among the states."

You're kind of mixing things up.

What you cite is median household income for a four person household. That is not median salary. Mom and dad making 47500 each would hit the median. If each made 100k, it would be twice the median.

Long and the short of it is that making 100k per year is making a high salary. Period. You can't say "I only make the median and am therefore not well-off" when your spouse also has an income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

So you're talking about specific neighborhoods. In that case, you could find those in any state in the country.

No. It wasn't specific to a neighborhood.

http://www.bizjournals.com/washington/blog/2014/08/median-incomes-for-four-person-households-in-d-c.html

"Maryland leads in the latest estimates, as it did last year, with a four-person median household income of $106,452, up from the 2014 estimate of $105,348...The District, meanwhile, made a huge leap year over year, from $87,902 in 2014 to $100,408 in 2015... Virginia, with an estimated median four-person household income of $91,442, is sixth among the states."

You're kind of mixing things up.

What you cite is median household income for a four person household. That is not median salary. Mom and dad making 47500 each would hit the median. If each made 100k, it would be twice the median.

Long and the short of it is that making 100k per year is making a high salary. Period. You can't say "I only make the median and am therefore not well-off" when your spouse also has an income.

100k isn't much

[Anonymous]

Not here but in many other places in the country, it still means a lot of money for one person.

100,000 is the top 24%.

http://money.cnn.com/calculator/pf/income-rank/

[Anonymous]

Anonymous wrote:Not here but in many other places in the country, it still means a lot of money for one person.

100,000 is the top 24%.

http://money.cnn.com/calculator/pf/income-rank/

It's all about perspective and where you live. Many DC neighborhoods have average incomes of 500K, you would be poor living there, just like you would be rich living in 3rd world Sudan at 100k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

Yep, median household income is 110k in Ffx county. But I think it's #2 or #3 in the country, so there's not many other places that are above a 100k median.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"So, making $100K in SF, DC, NY (below median)"

$100k is not below the median in any of those cities.

Yes, it is. I'm not talking city proper. It includes the surrounding suburbs.

So you're talking about specific neighborhoods. In that case, you could find those in any state in the country.

No. It wasn't specific to a neighborhood.

http://www.bizjournals.com/washington/blog/2014/08/median-incomes-for-four-person-households-in-d-c.html

"Maryland leads in the latest estimates, as it did last year, with a four-person median household income of $106,452, up from the 2014 estimate of $105,348...The District, meanwhile, made a huge leap year over year, from $87,902 in 2014 to $100,408 in 2015... Virginia, with an estimated median four-person household income of $91,442, is sixth among the states."

You're kind of mixing things up.

What you cite is median household income for a four person household. That is not median salary. Mom and dad making 47500 each would hit the median. If each made 100k, it would be twice the median.

Long and the short of it is that making 100k per year is making a high salary. Period. You can't say "I only make the median and am therefore not well-off" when your spouse also has an income.

Well, generally, you look at how much the HHI can get you based on the COL. So, yes, you would look at both incomes. And as a PP mentioned, a median HHI income of $100K doesn't get you much around the DC area. In Nebraska, yes, in SF, NY, DC area, no. I have lived in SF, LA, and DC area. $100K is not that much in these places.

[Anonymous]

So much of it is about expenses. Our HHI this past year was $350. I use coupons, buy used kids stuff, you name it. I lived a heck of a lot better my first year out of college, living the dream in Manhattan on $50k!