▲ 407 ▼ Millennials are exhausted by working more for less. (www.theguardian.com) submitted 2 years ago by alphanerd4@lemmy.world to c/politics@lemmy.world 50 comments fedilink hide all child comments (water is wet and fire is hot).
[–] Son_of_dad@lemmy.world 1 point 2 years ago (1 child) 80k a year is like double what I make, how is that low? permalink fedilink source parent hideshow 2 child comments replies: [–] circuitfarmer@lemmy.sdf.org 3 points 2 years ago $150k a year now is the equivalent of $80k ish a year in 2000. The point is the change in buying power. $80k per year now is equivalent to $45k per year in 2000. To make what would have been $80k per year in 2000, you would need to make $150k per year now. But in 2000, it is also very likely you could have bought a house on that salary of $80k per year. The equivalent $150k per year now may not even do that, depending on your state. In some sense, to be "well-off" (which is poorly defined, but let's say: enough to comfortably afford a home) is likely more around $200k per year now. The baseline has changed, so even though $100k may sound like a lot, it isn't what "six figures" used to mean in the context of salary. It is the equivalent baseline of about $50k per year in 2000. permalink fedilink source parent
[–] circuitfarmer@lemmy.sdf.org 3 points 2 years ago $150k a year now is the equivalent of $80k ish a year in 2000. The point is the change in buying power. $80k per year now is equivalent to $45k per year in 2000. To make what would have been $80k per year in 2000, you would need to make $150k per year now. But in 2000, it is also very likely you could have bought a house on that salary of $80k per year. The equivalent $150k per year now may not even do that, depending on your state. In some sense, to be "well-off" (which is poorly defined, but let's say: enough to comfortably afford a home) is likely more around $200k per year now. The baseline has changed, so even though $100k may sound like a lot, it isn't what "six figures" used to mean in the context of salary. It is the equivalent baseline of about $50k per year in 2000. permalink fedilink source parent