What's your annual income? (anonymous poll)

[ICUDoc]

The incomes in Australia are probably pretty different to what the US ones are, when it comes to spending money (ie discretionary income). Our top marginal tax rate is 50%, and we cannot tax deduct some big costs, eg mortgages. So I guess a good follow up question would be: how much do you earn AFTER TAX. Also the US dollar: Aussie dollar ratio makes a massive difference. Changed by 50% in last year or so....

 

[2xTrinity]

Based on the large number of responses in the $100K to $150K range, I'd say a lot of people went with joint income. Also, I'm noticing a double peak (one in the $50K to $75K range and the other in the $100K to $150K range). The first peak is probably sole income while the second is joint income.

My guess is that 50-75k seems to be the median individual income. It dips in the 75-100k region, then amount of votes in the 100-150k jumps again (consistent with two jobs at between 50-750k each in the same family)

whats income got to do with it, its your cost of living that will determine weather u have free cash for scrap

Combinations of taxes + cost of living can make a huge difference. I know many many people who have moved away from where I live (Southern California) to other states with lower taxes and [much] lower rents, into jobs making the same or even lower salary, who are able to afford a substantially higher standard of living.

 

[brighterisbetter]

I'm definitely toward the lower end of the scale. What eats me every month is the frickin' student loan payment whose principal never seems to go down much.

 

[brucec]

Interesting and direct poll. My income varies year to year so I voted the average for the past few years.

Money can't buy happiness, but neither can poverty.
-Leo Rosten

 

[NeonLights]

The income category I voted was based on the joint income from my wife and I. She works full time days, I watch our kids during the day and work nights, about 25 hours a week. She makes 4x what I do, but my work pays for health insurance, and we pool all of our money together, as we have done for the entire 14 1/2 years we've been married.

The cost of living here in central Ohio is relatively low, our mortgage payment is only 17% of our monthly income, and our property taxes are around $2500 a year.

 

[EngrPaul]

$300,000 + USD: 1

Ah, nice to see Greta voted.

 

[22hornet]

I just voted.
I think one should only take into account one's own income, without partner.

Kind regards,
Joris

 

[woodrow]

Its kind of funny how the economy is working. I have always worked in sales. At my peak...I was averaging around 4g a month. Now with the economy not doing well, I am working for a call center for one of the big wireless carriers. All kinds of young people (18-20) making around $10 an hour...cost of living is low here... but plenty of ex professionals working there too. Real estate agents...both comercial and residential, finance managers.... car sales people and many other decent paying income people have taken big cuts...and are just happy to have a job.

Most of my calls are from people trying to cut down on their bills as well...or asking for payment arrangements since they are out of work.

 

[ledlurker]

Mine was combined, I do not have a full time job. I usually work a few contract jobs a year. Since we live below our means and do not have much in tax deductions it is a big discouragement for me to work full time. For 2008 my reportable gross was $21,000 USD and I sent just over 46% to the Federal government because we are in the top tax bracket. this means if the top tax bracket goes back to 36% in a couple of years them my rate will hit 50%. We could reduce a few percentage points by doing a Type S Corp. filing or other stuff, we just have elected not to do so. Have not figured up our total for 2008. But for 2007 we paid over all just over 32% for all reportable income before deductions.

 

[Hitthespot]

I assume you mean based on the last year or two. I have been semi retired, wait not old enough for that, (call it a sebatical) the last couple of years so my income is basically nothing, and that's how I voted. If you mean averaged over the last 20 years that would have been a whole different story.

Bill

 

[Badbeams3]

House payment ...$1050
Electric...$120
Cell Phone...$60
Car payment...$340
Car insurance...$120
Water bill...$50
Cable TV...$45
Min. CC payment...$60
Dental insurance add on...$35

I guess this is tipical. What is normal. Some days I get to eat!

 

[gadget_lover]

Like someone said, it all depends on where you live and what your expenses are.

A college kid living with mom and dad will do quite well with $20,000 a year.

A professional lin Silicon Valley with a mortgage on a $750,000 1,500 sq foot 3 bedroom house needs to make a whole lot more to have anything left over for lights.

I'm an old fart, and have paid for my house for 30 years so my expenses are lower than for most. My newest car is 6 years old. Even so, California is NOT a cheap place to live, even with what should be a handsome salary.

Daniel

 

[cave dave]

House payment ...$1050
Electric...$120
Cell Phone...$60
Car payment...$340
Car insurance...$120
Water bill...$50
Cable TV...$45
Min. CC payment...$60
Dental insurance add on...$35

I guess this is typical. What is normal. Some days I get to eat!

This calculator can be used to compare you to avg:
http://www.money-zine.com/Calculators/Loan-Calculators/Family-Budget-Calculator/

I couldn't get it to work with Firefox though.

 

[Lightraven]

I usually divide someone's salary by their hours worked before getting envious. Some people work crazy overtime. 70 hour weeks aren't my idea of a good life, no matter how much you make.

I then think about their investment in their education--MBA, law school, med school? Then I consider the fickleness of the job/income source. If you make $200,000 one year, and nothing the next because you were laid off, that's $100,000 per year, not $200K.

I consider the location of the job (Southern California? New York City? San Francisco?) where taxes and housing alone are the highest in the U.S.

Some jobs pay well but are very unstable and/or have limited benefits. If all you get is cash, and no benefits, then health care, retirement, time off (sick, vacation) is out of your pocket. Private contractors in Iraq are a good example of a highly paid, but unstable job. Envious soldiers merely compare straight salaries, not the benefits and the odds of being unemployed in a year.

 

[mossyoak]

me and my gf live together but are both in school. I work part time and make about 20k but both of her parents are CPA's and my dad is a doctor and mom is an accountant her parents and mine both are in the 300k+ range and most arguements revolve around money. Money doesn't fix problems it's just makes different ones