Six figure salary? You’re not rich

I’m old enough to remember when earning a six figure salary meant you had made it. You were rich. This post on the Personal Capitol blog explains why that is no longer the case. Here are a few nuggets to get you started:

  • the median household income stuck at around $53,093 in 2014
  • the average price of living the American dream has now risen to $130,000 per year
  • today’s family would need to earn $288,713.59 to achieve the same kind of lifestyle as someone making $100,000 in 1980.
  • the median price of a home was around $282,000 nationally in May 0f 2014.
  • the cost of raising one child for a middle class couple has grown to a staggering $241,080.