$100,000 income: No big deal anymore
By Craig Guillot | Bankrate.com
Less than 20 percent of American households even break the six figures. But many who earn incomes near the mark find that their prized incomes don't take them as far as the hype. Many say that while breaking the $100,000 annual income mark may still be an impressive milestone, it doesn't exactly roll out the red carpet.
Costs eat away at benchmark
“Without a doubt, the housing situation is the biggest thing that eats into our income.” -- Brian Neale, investment manager
"Without a doubt, the housing situation is the biggest thing that eats into our income," says Brian Neale, an investment manager from Westminster, Md.
Money doesn't go far
Geography and lifestyle factors
“There is still only a small percentage of people making this income. It points out that for your average person in your average job, this is becoming an increasingly hard country to live in.” -- Mari Adam, certified financial planner
The Council for Community and Economic Research's Cost of Living Index, which compares typical family and individual expenses across hundreds of cities shows that. According to the Index, for 2012 Q1, a typical family earning $100,000 per year would need to earn around $228,300 in New York City and $166,500 in San Francisco to maintain that same lifestyle