15 U.S. states where you need to earn more than $70,000 to make ends meet (via CNBCMakeIt)
These states tend to have higher costs for homes, taxes, food, health care, utilities and transportation. Compared to other states, the remote islands of Hawaii have a limited supply of land and higher import costs for goods, which accounts for its No. 1 ranking.
The silver lining is that, generally, people living in these states tend to get paid more. All of the 15 top-ranked states have household incomes above the national median of $65,712 — with the exception of Maine, which is $63,440 — according toMost of these states have a median household income in the $70,000 to $90,000 range, with Maryland's median household income of $94,384 leading the pack.
GOBankingRates defines "living wage" as the income you'll need to cover necessary and discretionary expenses while still contributing to retirement savings. Estimates for these expenses were calculated using the most recent consumer expenditure data from the Bureau of Labor Statistics. The analysis then uses the 50/30/20 rule, which divides income by 50% for necessities like rent or food, 30% for discretionary expenses like going to a movie, and 20% for savings or investments.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A traffic reporter made 15 Beyoncé references in a segment — and the star’s mom respondedBy the end of her traffic report, SheilaWatko came up with 15 amazing Beyoncé puns before her co-anchors offered some relief — and more references.
Read more »
GRAPHIC: SUV barrels through Native American parade; 15 injuredAs the SUV sped near the parade, videos on social media showed people yelling for others to get out of the way and some pushing parade-goers to safety.
Read more »
15 Minute Live Performances: Jordan HawkinsIn June, rising R&B singer-songwriter Jordan Hawkins gave us a glimpse into what a typical day in his life is like. The North Carolina native's
Read more »
The 15 Best New Pieces of Summer Menswear to Buy This WeekThe latest and greatest from Bode, Tod's, Turnbull & Asser and others.
Read more »
The 15 Coolest Cars at the 2022 Pikes Peak International Hill ClimbPikes Peak is always chock full of wild race cars, and this year was no exception.
Read more »