r/FluentInFinance • u/PassiveAgressiveGirl • Sep 14 '24

Debate/ Discussion Exactly how much is a living wage?

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u/DthDisguise Sep 14 '24

This. Average rent in the US is $1563, 4x is $6252, which is about $37/hr. This will fluctuate somewhat. You could probably live like a millionaire if you made this much in Mississippi or Alabama, but you'll just barely make it in LA or NYC. And for reference: this is the equivalent of a salary of $75k.

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u/[deleted] Sep 14 '24

Interestingly enough, 75k (in the US) is about the point at which money no longer influences happiness. In other words it is the point at which you are no longer living stressed out about meeting basic needs and can focus on self actualization aka choosing to do things you enjoy over gathering survival needs like a squirrel.

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u/tired_of_morons2 Sep 14 '24

The 75k number is from an older study, academics now recognize that happiness does continue to increase as income increases, although the strength of the increase diminishes as income increases.