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Is 150K enough for a family?
The reality, however, is that 150K is the minimum living wage for a family with two kids in a place like SF, and usually not enough. There are plenty of places in the SF bay area where 150k is fine.
How much do you need to make to support a family?
Depending on where you live in the United States, the amount you need to make to get by and support a family can vary by a lot. While a household of two adults and two children can manage on less than $60,000 a year in Tennessee, for example, it takes at least $88,000 a year to make ends meet in New York.
What is considered high salary in California?
While ZipRecruiter is seeing salaries as high as $123,379 and as low as $20,645, the majority of salaries within the Above Average jobs category currently range between $30,476 (25th percentile) to $60,460 (75th percentile) with top earners (90th percentile) making $73,732 annually in California.
What is considered good money in California?
“To be rich in California means you’ve really hit the big time,” says GOBankingRates. “California is one of the seven states in the country — eight if you include Washington, D.C. — in which you’ll need at least $250,000 to reach the top 5\%.”
How much do you need to live comfortably with two children?
If the family has two children, those numbers rise to $56,000 and $74,922, respectively. That’s according to updated data from MIT’s living wage calculator, which determines the minimum amount necessary to meet basic needs without dipping into poverty or relying on outside help.
How much does a single parent make in California?
While a single parent with one child can manage on just over $45,000 a year in Alabama, for example, it takes at least $62,000 a year to make ends meet in California. If the family has two children, those numbers rise to $56,000 and $74,922, respectively.
Depending on where you live in the United States, the amount you need to make to support a family can vary by a lot. The burden is even greater for single parents. While a single parent with one child can manage on just over $45,000 a year in Alabama, for example, it takes at least $62,000 a year to make ends meet in California.
How much does it cost to take care of two kids?
Since they have two children, they get a $4,000 credit. Childcare: $2,450 per month. There’s no getting around this expense when both parents are working. Their childcare center costs $2,200 a month for full-time care. The couple then spends an extra $250 a month for some babysitting help. Preschool: $2,000 per month.