$169 grand family income guy wrote:
50 grand is more than the current median income. How does a family live on so little.? What kind of cars do you drive? What are your housing costs? What do you do for vacations?
I mean how often do you get to replace your running shoes? Are you deep in debt?
I can't imagine what it would be like.
It has been a while since my income was that low, but I could make it TODAY on a $50,000 income with a family of 4...EASILY.
I could keep my current standard of living even except for two things...I'd need a smaller, cheaper house, and I would drop my retirement investment down to 10% from 20+%. I have enough equity in my current house that I could sell it and buy outright a condo somewhere, but assuming I didn't have that, I could just downsize to a condo and save several hundred dollars a month...that, investing a little less, and watching my pennies a little more than I currently do, and we could make it. If the income stayed at that level, I MIGHT have to buy a cheaper car next time. The above is if I stayed in the same school district. I could leave the school district and live in a small town and pay a third to a quarter of what I pay for housing now.
Granted, I live in Central Ohio. I wouldn't want to try living on $50,000 in San Francisco.