For whatever it’s worth, $113,000 in San Jose is barely middle class.
It still seems really high though.
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Most of us have never even seen half of that much in our life time. But yes depending on where you live it’s not high enough. But again many don’t make anywhere near that kind of wage.
Uh…in the US, virtually makes more than 113,000 in their lifetime assuming they live for a typical amount of time. Even at bare minimum wage you would make over 600,000 in 40 years.
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I meant 113000 US per year.
I’d be homeless if I made half that. Or I’d have to live with like 4+other people. 5 years ago maybe. Post inflation COVID, I wouldn’t even get out of bed for that anymore.
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Well if you are making $113000 per year you are making good money. Obviously the state you live in has very high living costs as do many places. But I’m just saying that’s $149000+ a year Cdn which is 3x what the average working stiff makes here.
I actually just did the math, and after taxes and rent at that rate, I would barely be able to afford utilities, never mind anything else for the month.
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Geez. Must be a lot cheaper to live there. I can’t imagine.
I’m sure that it is compared to San Jose. No doubt in my mind. I’m just saying we don’t make those kind of wages unless you are of some professions such as in the medical field, docto, lawyer, or a specialized trades person.
Separating wages from cost of living makes not much sense to be honest. Even in the US, wages vary wildly from place. Minimum wage there is over $35,000/yr. That is what you make as a high school student.
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The really important question.
What does a bottle of Casamigos Anejo go for there. That’s the real question. I may save money moving there.
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I don’t think this is the norm! Some high school students might have a part time job at minimum wage. Like they do in this country. But i can tell you working full time here in a good job we barely make over $40000 per year. After all deductions and taxes we only clear $25-27000. Kids in high school don’t work full time hours and are not going to make that kind of money. Obviously US money is higher than our dollar currently. Again living costs vary significantly across the country in both the US and Canada and I’m sure in other countries also.
But what does it cost to live there? How much does it cost to buy a house or rent an apartment?
It is all relative, I live in a place that has a moderate cost of living. Neither high nor low. It is difficult to find a one bedroom apartment for less $1,000/mo. You could survive here on a $40,000/yr wage but you wouldn’t be living well. Less than $40,000 and you would need multiple incomes or to share living expenses somehow.
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I pay over $3000/mo for my 1br here for reference.
Edit: I admit there is some cheaper places near me, but I did feel the extra $100-150/mo was worth having an enclosed garage which is rare.
You can find $2500/mo stuff approx 30 (well 30-90 minutes depending on traffic) minutes away. But between the garage space and having a less than 10 min drive to work, the stress and fuel savings (still over $5/gallon here) make the price difference completely worthwhile.
Nothing really kills your motivation for the evening after a 10+ hour day of work like 90 min of crawling traffic home
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Here is $2000-$2500 month. Some more some less. Average houses prices are over $750000. Most are more. It’s tough for anyone and for new young people to own a home or rent. They can’t even save the money needed for the down payment to purchase a home. That’s how much house prices have increased.
If people are only taking home $25k per year after taxes and a single bedroom apartment costs $30k per year that seems…problematic.
Welcome to my world. Although, we’re also in that $750k-800k starting range here.
There’s no way your math is right unless like 10 people at a clip are renting apartments and like an entire lineage of family must pool money to buy a house at your wages. . .
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800 US is 1055804 Cdn. It’s tough to live on two incomes here with the cost of living. That goes for saving enough money to purchase a house and or pay for one if they happen to get there. Interest rates are over 7% here too.
Anyway we are way off topic I think.
Jesus, did your economy completely collapse or something? I must have missed that in the news.
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US dollar is a lot higher than ours.