Don't know where you live, but those numbers are nowhere near typical. Median US salary in 2010 was under $30,000. Note that is median, which is a far more useful statistic than average. Median household income was just under $50,000, which was a decrease from 2009, and a 7.1% decrease from the all time high set back in 1999. So the average US worker today is making 7% less than the average worker 13 years ago. That's pretty depressing when you consider cost of living has certainly not decreased during that period.
An assistant making nearly $50,000 should consider themselves very fortunate in this market when more Americans are living below the poverty line than ever before.
Pre-degree, I made $32/hour proctoring at a University computer lab and billed $75/hour for web development. I haven't made less than $32/hour. Ever. I was having a similar conversation with my wife tonight over dinner re: average incomes. How can people afford to live on minimum wage? $7.50 x 2080 = ~$15,000. I can't imagine.
Heh, got a few WTF looks when I showed up for my co-op with a Lincoln LSNobody expects you to drive a luxury class vehicle to your first job out of college, even if you are making just shy of $20/hr (that's what 40k/yr?) People will expect you to drive a Jetta, Corolla, Mazda 3, Focus, etc. Not everybody you work with spends their lunch break on ATG, most will think any new car is pretty nice rather it cost $15k or $40k, as long as you keep it clean and don't drive it like you stole it in the company parking lot.
Exactly. $40k out of school is a good bit more than I started with. It's not bad money to begin at all. It's just not enough to buy a $25k car responsibly, and OP is out of touch to think he needs a "professional look" car at this point.Yeah, don't take anything I said in the wrong way. $40K is a fine starting salary, nothing to be ashamed of...you just should be buying a $25K car with it
An assistant making nearly $50,000 should consider themselves very fortunate in this market when more Americans are living below the poverty line than ever before.
Pre-degree, I made $32/hour proctoring at a University computer lab and billed $75/hour for web development. I haven't made less than $32/hour. Ever. I was having a similar conversation with my wife tonight over dinner re: average incomes. How can people afford to live on minimum wage? $7.50 x 2080 = ~$15,000. I can't imagine.
The hyundais and kias are winning over executives even today.
There's a Neurosurgeon at UC Davis who makes 750K a year. He drives a Kia Optima. But he's Korean so maybe he's just supporting his homies.
Not driving a Genesis or Equus boggles the mind.
imagine that....
I'm kinda like the OP I guess. Except I'm 21 with no college and should make $80k this year without a raise, 90-100k with the one I probably have coming my way. I drive an 06 Fusion SEL I paid off early, I'd recommend against dropping $25k on a depreciating G35 or something. I'm using my extra income to buy a house while they're cheap as shit, instead of wasting it on an overpriced lux car >.>
IMO you shouldn't spend over $15k as a young person doing well for yourself unless you're $100k+. Be frugal for a few years and build a big savings and buy a house. contribute a ton to your IRA, live cheap, don't be wasteful, and you can set up yourself so much better later in life. Note that I don't mean live in a shithole for 20 years so you can have a good retirement, just a decent living for 2-5 years can make a huge difference. $10k bought me a nice reliable car with nice options that I can happily drive for the next 3-6 years
I'm buying a nice 3/2 in a great suburb but it should still be paid for in 5-7 years. You should do the same, you won't likely have a better time to buy in our lifetime.
Pre-degree, I made $32/hour proctoring at a University computer lab and billed $75/hour for web development. I haven't made less than $32/hour. Ever. I was having a similar conversation with my wife tonight over dinner re: average incomes. How can people afford to live on minimum wage? $7.50 x 2080 = ~$15,000. I can't imagine.
I'm buying a nice 3/2 in a great suburb but it should still be paid for in 5-7 years. You should do the same, you won't likely have a better time to buy in our lifetime.
it's quite actually doable if you already own a car and have cheap insurance. It just sucks because you're not saving any money. I make much much more than that and live on about $15k.
Who is paying for food, shelter and utilities?
lol I bet plenty of japanese told their kids that in 1993
though, at least you get a house out of it.
I still think the notion of committing to having a steady job and paying for 30 years to own a house is absolutely silly. So much can change in that time, look what happened to us...
Does the hybrid even win on greenhouse gasses after you consider how much extra energy and materials went into building its batteries and other tech, then recycling or safely disposing of all that afterwards?More fuel = more greenhouse gasses. So similarity fail.
I think it really depends on the person. When I first got out of college and started my $50k/year job, I had the notion to save save save, pay down my student loans as quick as possible and save up for a house. Now that have worked for 9 months, I figure I should spend money on what interests me while I'm still young. I enjoy cars, so I'm willing to spend $12k on a Trans Am this spring. It may not be the most reliable car, or the best on gas, but I'll be able to continue my hobbies of going to car shows and to the track.
You're only young once, might as well live a little. Of course live responsibly, but if you die tomorrow, that $20k sitting in your bank account won't do you any good...