After taxes and adjusted for cost of living, $100,000 amounts to just $35,791 in New York City, $36,026 in Honolulu, $36,445 in San Francisco, $44,307 in Washington D.C. and $44,623 in Long Beach and Los Angeles
, New York, $36,026 in Honolulu, Hawaii, $36,445 in San Francisco, California, $44,307 in Washington D.C. and $44,623 in Long Beach and Los Angeles, California.
Using the same metrics, the best cities to live in for people who earn $100,000 are Memphis, Tennessee, El Paso, Texas and Oklahoma City, Oklahoma. In Memphis, thanks to its cost of living, which is 14% lower than the national average, $100,000 is worth $86,444. Seven cities where six figures goes the furthest were in Texas, credited to low costs of living combined with no state income tax., a career advising company, and like the cost of living, income varies greatly between cities and states.
Zippia’s data also shows that 56% of Americans believe that earning $100,000 per year would make them rich, but Zippia notes that a $100,000 salary is generally considered upper-middle class today, rather than rich, and can even be lower-middle class in some cities. The median U.S. salary in 2022 was $44,225, according to, which raises major concerns if Americans earning more than double that amount are struggling.
SmartAsset shares some advice for six-figure earners, such as suggesting that they max out their retirement accounts. Contributing the highest possible amount to retirement accounts can help reduce a contributor’s tax bill for that year, potentially even dropping them into a lower tax bracket. They also recommend reviewing a city’s track record on its cost of living before moving there, along with consulting a professional financial adviser to be as tax efficient as possible.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Terrifying moment Amir Khan robbed of £70,000 diamond watch at gunpointCCTV footage shows the terrifying moment boxing star Amir Khan had his \u00a370,000 diamond watch robbed at gunpoint in east London.
Read more »
Hunt admits ‘taxes will be higher’ after fury at biggest burden since WW2JEREMY Hunt today admitted taxes will stay “higher for a while” as Brits face plummeting living standards. The Chancellor defended his decision not to slash income tax at yesterday̵…
Read more »
10 key Budget announcements from from childcare to petrolA wide number of changes were introduced, affecting employment, benefits, taxes, energy bills, and the economy
Read more »
10 key announcement's from Jeremy Hunt's Budget including childcare changesThe Chancellor delivered his Spring Budget on Wednesday, announcing a wave of major economic and financial changes for households all across the country
Read more »
Budget leaves household incomes stagnant and people paying more taxes despite public service cuts, Resolution Foundation saysThe thinktank said the chancellor had announced an 'impressively broad suite of policies' to encourage more people into work. But it said, 'Britain's economy remains stuck in a deep funk'.
Read more »
Stealth 4p rise in income tax to pile pressure on Rishi Sunak over squeezed workersThe Chancellor promised that his Budget would help to grow the economy, rejecting calls by Conservative colleagues to cut taxes
Read more »