Salary $100,000 per year ceased to be the key to peace and financial success in dozens of U.S. cities, detailed a study of the real value of a six-figure salary.
Financial analytics firm SmartAsset analyzed what a $100,000-a-year salary is actually worth in 76 cities across the country and found that in virtually every one of them, none of the employees you can really enjoy 100% of your income.
However, there are cities in which this type of salary has definitely ceased to represent success in work, and even more so financial peace.
This applies to workers in cities like New York, Honolulu, and San Francisco, where a $100,000 salary drops to just over $30,000 due to the high cost of living and after taxes, according to the study.
For many years, a six-figure annual income was considered the goal of peace of mind and professional success for workers in the USA; however, the cost of living ended with this milestone.
According to an investigation in New York, a $100,000 salary leaves just $35,791. who earns them, after paying for all basic needs.
New York is the city with the lowest amount of money available to a six-figure worker; while in Memphis, Tennessee, the same salary leaves free $86,444striking difference.
To determine how much a $100,000 salary is actually worth in the 76 cities analyzed, the study took into account the costs workers pay in housing, food, utilities, transportationservices and purchases of goods included in the cost of living for the third quarter of 2022.
10 cities where a $100,000 salary costs less
1. New York, NY: $35,761 equivalent.
2. Honolulu, Hawaii: $36,026 equivalent.
3.- San Francisco, California: The equivalent of $36,445.
4. Washington DC: The equivalent of $44,307.
5. Long Beach, California: Equivalent to $44,623
6. Los Angeles, California: Equivalent to $44,623
7.- San Diego, California: Equivalent to $46,167.
8. Oakland, California: $46,198 equivalent.
9.- Boston, Massachusetts: Equivalent to $46,588.
10.- Seattle, WA: Equivalent to $48,959.
Cities with the highest purchasing power in the US
The study found that cities with higher purchasing power They are in the south of the country.mainly in Texas and Tennessee, two states that do not collect personal income taxes.
In El Paso, Texas, the salary is $100,000. leaves the worker $84,966; while in Houston the same salary leaves $81,171 and in San Antonio it’s about $80,124, according to the study.
Source: La Opinion
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