My San Francisco rent always shocks my family in Wisconsin. Why would I live there, when I could afford a $600k house in Wisconsin for the same monthly payments? Do the benefits of a high cost of living city outweigh the cons by that much? After living in San Francisco and three other high cost of living cities for the past 10+ years, I can emphatically say that the benefits … [Read more...] about The Benefits of a High Cost of Living
Career & Employment
How Much Income Does the Top 1 Percent Make?
As much as we hear about economic inequality and how much the top 1 percent makes in income, Americans are well off compared to the rest of the world. We rank 6th in the world with a median household income of roughly $44k, while the median household worldwide is $9.7k. Warren Buffett claims he won the ovarian lottery by being born in the United States, the country has … [Read more...] about How Much Income Does the Top 1 Percent Make?
How to Beat a High Cost of Living
Jobs in cities like New York and San Francisco offer higher salaries, but the high cost of living quickly erases any of those benefits. In order to afford an expensive city, you need to beat their high cost of living. The average salary in San Francisco was $86k 2018, and the average salary in Minneapolis was $62k. Here's their relative spending power using NerdWallet's … [Read more...] about How to Beat a High Cost of Living
Average Income by Age – Where Do You Rank?
Tracking average income by age is a great way to see how you are doing compared to your age group. According to the Census Bureau's Current Population Survey in 2016, the average American under 65 is earning $46,409 per year. How does that break down by age? Average Income by Age is Skewed Many people default to averages, and this is an important reminder to emphasize how … [Read more...] about Average Income by Age – Where Do You Rank?
Learn How to Negotiate Your Salary by Anchoring
When you negotiate your salary, should you throw out the first number? If you would rather wait for them to say the number first, you could be costing yourself a lot of money. Knowing how to negotiate your salary is crucial to maximize your income. By saying the number first, you will anchor the other party to the number you give. Whether they like it or not, the rest of your … [Read more...] about Learn How to Negotiate Your Salary by Anchoring