The cost of living is rampant in the United States.
To live in New York City, but also in Honolulu or San Francisco, an average American should earn at least $300,000 if he wants to satisfy some desires and the cost of living.
This was revealed by a new study by Smart Asset, an investment consultancy firm, reported by the New York Post.
As rampant inflation continues to erode purchasing power, 51% of people earning more than $100,000 a year reported living paycheck to paycheck in December 2022, a 9% jump from the previous year , according to a survey by Lending Club. Specifically, the results show that people making $100,000 in New York City have a purchasing power of only 35.
$791 when you factor in taxes and cost of living.
In Honolulu it is equal to 36,025 dollars and in San Francisco (which occupies the third place as the most expensive city in the USA) to 36,445.
To have a purchasing power of $100,000 in the three cities, therefore, an individual would need to earn $310,000 a year.
The ranking is heavily influenced by local taxes: the most expensive states like California, Hawaii and New York all have high income taxes.
Conversely, cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Anthony, Fort Worth, Arlington).
Both states have no income tax.
025 dollars and in San Francisco (which occupies the third place as the most expensive city in the US) at 36,445.
To have a purchasing power of $100,000 in the three cities, therefore, an individual would need to earn $310,000 a year.
The ranking is heavily influenced by local taxes: the most expensive states like California, Hawaii and New York all have high income taxes.
Conversely, cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Anthony, Fort Worth, Arlington).
Both states have no income tax.
025 dollars and in San Francisco (which occupies the third place as the most expensive city in the US) at 36,445.
To have a purchasing power of $100,000 in the three cities, therefore, an individual would need to earn $310,000 a year.
The ranking is heavily influenced by local taxes: the most expensive states like California, Hawaii and New York all have high income taxes.
Conversely, cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Anthony, Fort Worth, Arlington).
Both states have no income tax.
000 dollars in the three cities, therefore, an individual would have to earn 310,000 a year.
The ranking is heavily influenced by local taxes: the most expensive states like California, Hawaii and New York all have high income taxes.
Conversely, cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Anthony, Fort Worth, Arlington).
Both states have no income tax.
000 dollars in the three cities, therefore, an individual would have to earn 310,000 a year.
The ranking is heavily influenced by local taxes: the most expensive states like California, Hawaii and New York all have high income taxes.
Conversely, cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Anthony, Fort Worth, Arlington).
Both states have no income tax.
Cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth, Arlington).
Both states have no income tax.
Cities that give higher purchasing power with a salary of $100,000, or $80,000, include Memphis, Tennessee, and seven Texas cities (El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth, Arlington).
Both states have no income tax.
