Is 260k usd a year a lot of money?

Posted by adpoy@reddit | AskAnAmerican | View on Reddit | 25 comments

This is probably a stupid question but I had to ask. I got a new job recently in my country and I converted my salary according to PPP and it says my current payout is 260k. My previous payout was close to 120k. What would my lifestyle be like?

A girl I really liked moved to US last year for masters and since then we've cut contact. I can't help but feel bad about myself, I feel left behind, of sorts. I know I shouldn't be comparing stuff but it's been bugging me for a long time.

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Lower_Neck_1432@reddit

Depends where you live in the country. If you live in Beverly Hills or Manhattan, you are barely making it. If you live in Charlotte, NC, you are doing quite well.

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LetterheadClassic306@reddit

260k ppp adjusted is solid but cost of living varies wildly here. in nyc or sf that's comfortable middle class. in a small town you'd live like a king. don't beat yourself up over the comparison thing though. i've done that too and it never helps. her moving here for a masters doesn't mean she's better off. she's probably dealing with student debt and visa stress. focus on what you have now not what you think she has.

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adpoy@reddit (OP)

yeah that's what i needed to hear, thank you.

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Hikeback@reddit

That’s about what I earn. That is upper middle class. That means you can buy cars new, afford a home in a good neighborhood and take a foreign destination vacation once a year.

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Different_Cherry8326@reddit

260k would be a major accomplishment for someone young, like in their 20s. And it will provide you a very good standard of living almost anywhere if you’re single and renting.

For professional types (doctors, lawyers, business, executives, etc.) who are a bit older, it would still be good, but not really anything special.

And if you’re married and have kids, it’s certainly enough to live comfortably on in many places, but you will still be priced out of the more desirable areas in major cities and to their suburbs.

Where I live (a nice suburb of a major city, but not as desirable as coastal cities) new construction houses are $2.5 to $3M now. And if you want to live in a nice house in a desirable city California city (e.g., LA, San Diego, or Bay Area), you’re looking at $4M and up these days.

So 260K doesn’t go all that far.

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DigitalMonsoon@reddit

That's what a Doctor in the US would expect to make.

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Different_Cherry8326@reddit

Yes and no. The great majority of physicians in the US are earning more than that, assuming they’re working full-time. But yes, there are some doctors like pediatricians, who earned that little/much.

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Carrotcake1988@reddit

Drop the 200 part. That’s what I make. You’re in a good space.

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Pitiful_Bunch_2290@reddit

That's what I make living in the Midwest. I save money like CRAZY. I'll retire at an age I can actually enjoy it.

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nsbsalt@reddit

You are making 260k USD in India? Sounds illegal.

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o93mink@reddit

Yeah… color me suspicious that OP makes this kind of money and can’t figure this out

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bearsnchairs@reddit

They said they converted based on PPP, purchasing power parity.

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bearsnchairs@reddit

That salary would give you a very comfortable life. Home ownership. Be able to support a family on one income in the vast majority of places. Ability to max out retirement savings, have investments, and not worry about day to day expenses.

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GreenDavidA@reddit

Outside of like San Francisco that’s absolutely top tier salary.

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dangleicious13@reddit

Yes

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scoobytat2@reddit

How far it will get u will depend on where u live in the USA as well as how many people in the household. But if its just you the you would live comfortably pretty much anywhere.

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devilscabinet@reddit

Those are both really good salaries in the United States.

Keep in mind that there the realistic "value" of the dollar varies a lot in the United States. You can get a decent 2-bedroom, 2-bath apartment for around $1,500 a month in the town I live in, or rent a house for about $200 more. If you go 15 minutes up the highway you can get the same apartment for $1,000 - $1,200 a month. If you lived in New York City, you might spend 4 times that much, or more.

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A big house in the suburbs
Couple of kids
Two decent cars
Nice vacation every year

And about $100k left over ;-)

I'm sure there are high cost of living areas where it wouldn't be much, but yeah, that's good money

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