What is the minimum salary required to live in USA?

The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.

What is a good yearly income for a family of 4?

Yes, a family of 4 can live on 100k per year. The average household income in the United States is approximately 73k according to the US Census Bureau. At this income level you would have to commute rather than live in the most expensive cities such as Boston, San Francisco, and Manhattan.

Is 70k a good salary?

According to the Bureau of Labor Statistics, the median salary of all individual workers (male and female of all races) was $881 weekly for the first quarter of 2018. An income of $70,000 surpasses both the median incomes for individuals and for households. By that standard, $70,000 is a good salary.

What is the ideal income for a family of four?

So the ideal income for an American family of four, for instance, would be $210,000. Earn any higher than this threshold, though, and the researchers found you might actually experience lower overall satisfaction. Jebb asserts that higher income is often associated with larger workloads and less free time.

How much money do you need to live on average?

“To obtain estimates for households with more people, one can simply multiply the satiation estimate by the square root of the house-hold size,” the report notes. So the ideal income for an American family of four, for instance, would be $210,000.

How much does it really cost to raise a family?

The cost of raising a family looks very different depending on where you are. It will cost you about $58,906 a year to raise a four-person family in Brownsville, Texas, for example, but if you move to San Francisco, California, that expense more than doubles, to $148,439.

How much money do you need to support a family?

All data from MIT’s Living Wage calculator. 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.