How Much Money Does A Single Woman Need To Live Comfortably In America



  • You’d need to budget $117 per month with prices at $2.70 per gallon. That leaves only $52 for a car payment, parking and other transportation expenses. Clearly, not enough. (And, of course, wildly fluctuating gas prices can throw a curve ball here.) Some cities are easy to live in without a car, thanks to good public transportation and bike paths.
  • To Live 'Comfortably' in Miami, You Need to Make $77,057 ($46K More Than the Median Income) According to a new analysis from Go Banking Rates, to comfortably budget like that here, a person would need to make $77,057 a year. It's a bummer than that the median income in Miami is just $30,858.
  • You can find out how much money you need for a lifestyle in retirement that exceeds $60,000 a year in the SuperGuide articles Retirement income: Living on more than $60,000 a year and Retirement income: Want to live on $100,000 a year?

I am an emergency physician on staff at Lenox Hill Hospital in New York City, where I have practiced for the past 15 years. I also serve as an adviser and editor to Medscape Emergency Medicine, an educational portal for physicians, and an affiliate of WebMD. My other time is spent with my private house call practice, DR 911, providing medical care to both travelers and residents in Manhattan.

Forbes 400 America's Richest Self-Made Women. How Much Money Do You Really Need To Be Happy? Robert Glatter. State or country you live in. Here in the US, according to Dunn and Norton, the. How much money does it take for a single person to. How much money does it take for a single person to live comfortably in the US? Most places in america you need about $1000 a.

How Much Money Does A Single Woman Need To Live Comfortably In American

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I have a keen interest in medical technology and public health education. The author is a Forbes contributor. The opinions expressed are those of the writer. Smiley Face (Photo credit: Wikipedia) So many of us work long, hard hours to provide for our families and children-often long hours away from home, maybe taking on extra jobs at times or hoping to get a raise in an effort to make our lives richer financially–working harder at the expense of sleeping and taking good care of ourselves in order to have extra money. It seems so many of us just aren’t content with what we have now. But is there a point at which striving to earn or acquire extra money can be counterproductive?

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Or, in other words, when having extra money just doesn’t make us “happy” anymore? In a recent in the the Sunday Review of the Times, Elizabeth Dunn and Michael Norton attempt to answer this question and by doing so create a perfect opportunity for us to reflect about the limitations of how the desire to accumulate money can ultimately affect our happiness. There certainly is a relationship between your salary and happiness; people who earn a good living are often happier than people who live in poverty. Having extra money can certainly enhance our lives by providing extra food, objects and creature comforts in our homes. But the irony is that earning additional income will actually not lead to extra happiness, once you have already attained a “comfortable standard” where you have what you need to function and be content.

The “comfortable standard” can be quite variable based on the city, state or country you live in. Here in the US, according to Dunn and Norton, the standard falls around $75,000. Researchers at Princeton examined Gallup poll data from nearly 500,000 US households and found that higher family incomes were related to better moods on a day to day basis. However, the positive effects of money had no effect on people’s happiness and moods after a level of $ 75,000.00 was attained. The issue then arises why we work so hard after we have reached an income level that is able to make us happy. Beyond a strong work ethic engrained by family values, or the desire to excel and compete with others, it appears that our ideas about money and happiness have gone awry.

Dunn and Norton explain that based on their with a national sample of Americans, the thought that life would be happier with double their salary (from 25K to 55K) did not translate into any measurable happiness. (Twice the money did not lead to twice the happiness). But according to Dunn and Norton’s data, people who earned 55K were only 9 percent more content than those making $25,000.00.

9 percent happier may be difficult to quantify, and better than 0 percent, but not the 100 percent you may be expecting from the extra income. However the true take-away from all of these mental exercises with money and happiness is that what we do with our money is more important than the money we earn. The thought that making more money can allow us to have bigger houses and fancier cars to nicer digital televisions-more for ourselves- is ultimately ineffective at turning money into happiness. Research has demonstrated that if you are going to spend money on yourself, you may want to switch from buying material objects (TVs or cars) to buying experiences (trips and special events). Based on additional research by Dunn and Norton, while buying more “experiences”, you will be better off by just buying less in general and instead buy for others. As an extension of this concept, Dunn and Norton refer to the concept of “underindulgence”- indulging a little less than you typically do- may lead you to a place where you achieve more happiness for your money. The concept is that by denying yourself the excess that you may ultimately desire may allow you to savor and appreciate the finer things in life.

Dunn gives the example of indulging in chocolate sparingly -instead of in excess- may actually make you appreciate the taste and texture much more. An extension of the underindulgence concept also relates to the ban on oversized regular soda that New York City recently proposed. In many areas of the country, the childhood obesity crisis has led to a ban on regular soda in a number of schools and campuses. According to, restricting access to sugary sodas only at particular times of the day may actually have the ability to improve taste, while having a beneficial effect on limiting consumption. In fact, research from has shown that individuals enjoy the taste of soda much more when they can’t have it immediately. Food experts have previously recognized that the first sip or the first bite is often more enjoyable than the 30 th bite or sip. A more extreme but scientifically proven means of increasing the happiness you derive from your money is a bit more radical-not spending it on yourself.

It turns out that people who spend money on others rather than themselves are actually happier in the long run. They derive a greater feeling of reward and satisfaction and this helps to enrich their inner feelings of sharing and contentment. So instead of buying that extra watch or TV the next time you have some new found money, consider the alternative: indulging less and offering others the opportunity to share in your wealth.

I live in Los Angeles, generally considered one of the more expensive cities in America. I pull in about $43,000/yr before taxes, and am 32.

No wife, no spouse, no pets. I live in a decent 1 bedroom apartment in Hollywood. Fun neighborhood, but an old building, some bugs. I eat out pretty regularly, date pretty regularly, drive a 2003 Honda Civic, and typically am able to buy what I feel like buying and do a littel travelling. I can't really buy high end luxury goods without really saving for them. I live 100% debt free, and am usually able to put away at least a few hudnred $ a month into savings, and have a comfortable 6 month emergency fund.

I live in Los Angeles making 51k a year before taxes. I have my own bedroom in a large two bedroom apartment that I share. The neighborhood isn't the best, but it's in a fun area near Hollywood and the apartment itself is old but not in bad sahep. I have 3% of my salary going to my Roth 401K until my student loans are paid off.

I drive a 2007 Toyota Corolla. I eat fairly comfortably, have enough money to go to the bar, and generally do most things that I want. I also pay around $1,000 a month to my student loans. My assumption would be that you might need to bump those numbers up a teir or two for bigger cities. Here the most expensive rent is only about $1,300.00 and that is for the 'ritzy-est' apartments downtown. With a roommate living out of the city you could get easily get your rent down to 400.00 or lower.

Similarly other living costs (food, clothing, etc) go up in those kind of areas. So for a big city I might start that list at 50k and move up to 80k. This calculator might help. I know there are others as well if you google it. I live in Boston, and I just bought a nice spacious 1 bedroom condo in a 2 condo building north of the city, in a nice town, a short walk away from public transportation.

It's exactly what I was looking for. On a salary of 80k, my monthly PITI and condo fee are about 30% of my net (not including any retirement savings).

This is on the high side of what I'm comfortable with, but totally manageable. I do live about 45 minutes away from work by public transit, but moving further into the city would raise my costs exponentially. I've looked into it because I would love to move into some of the closer areas, but many places would put me closer to.

100% of my net. I lucked out and found a good $300k place. The places where I would love to live are close to $1.25 - $2.00 million (for a reasonable 2 bedroom), and that's just not within my reach, obviously. You can find places to live near the cities on most salaries, depending on roommate tolerances. However, it would probably be easiest in most big-ish cities if you made $40k+, and in really big cities, probably $50k+ minimum. EDIT: If you're looking specifically at the Boston area, which I infer because it was the first city you listed, or look at. As a single adult Can't emphasize that part enough.

If you're a single adult earning $60k gross, you're netting about $4,000/month. After taxes and various payroll deductions (including maxing out a Roth 401k), my household's net take-home income is about $6000/month.

But I'm the sole breadwinner for our 2-person household, and my girlfriend has a number of health issues which lead to higher-than-average spending. And Seattle is not the cheapest area - we spend $2,000 on rent. Without question, I worry about money much more now than I used to when I was single and earning half as much. And we don't even have kids! Two kids can easily cost as much as an extra adult in the household, and that's not even counting the cost of college. We both need to get better off financially before we have kids, or else we just won't. We have known/seen too many parents and kids off in a bad way to have kids unless we are really ready to provide for them.

I need to actually make some significant amount of money before we even consider. It's really difficult feeling like an accomplished adult when older adults in my family are barking 'just buy a house!' At me, when we aren't even halfway saved to 20% down on a reasonable house. I just found this sub and am hoping to use some advice here to get a handle on things. The worst part is the pressure is mostly external. I don't really know if I care about having a house right now.

How Much Money Does A Single Woman Need To Live Comfortably In America Youtube

Sure I'd love to have a garage to work on a car in, but that's about it. I don't want to hemorrhage my tiny stack of cash every time a pipe bursts or the AC dies. House as an investment, I dunno. The market here will be growing for the foreseeable future but buying a house is a complete clusterfuck right now. Houses are gone in a weekend, frequently getting more than asking price.