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is a salary of $50000 a year sufficient to maintain a middle class lifestyle for a single male in the USA?
i am going to graduate as a chemical engineer soon and i have been approached by a company in the USA. i am from South Africa and indian by race. so will $50000 be enough to have a comfortable lifestyle?
thanks for the answers.
8 Answers
- 9 years agoFavorite Answer
yes that is exactly in the middle of the middle class average
- Go with the flowLv 79 years ago
You are getting the average for stating pay for a ChemE.
Yes, you will live comfortably. Very comfortably.
A ChemE degree is one of the top 4 highest paying 4 year college degrees.
This will put you in the top 6% of wage earners for your age (assuming you are young).
Also, this degree offers many pay raises and opportunities to move up.
You may start out at 50K, but you will move up fast in the salary scale.
- 9 years ago
AfAssuming you have little to no debt then yes very comfortably. I make 50k gross a year in Chicago (semi expensive here) and I am still able to save about half my pay check because I have no debt and no kids. After taxes, insurance, 401k etc., I still take home about 2600-2700 a month.
Howver my friend has to live with mommy at 26 because although she makes 50ish a year she has 70k in student loans. Her payments are 800 a month , third of her take home right there. Thats INSANE to me. Shell be there with mom for 10 plus years....
- 9 years ago
It will depend on where you plan on living. Different areas across the country have different living costs.
In the Midwest, and probably most non-large, and non- coastal areas, yes, 50000 is plenty to live comfortably on.
Source(s): Personal experience. I'm a single male that has made 40-60k a year for the last 10 years and have more than I need. - How do you think about the answers? You can sign in to vote the answer.
- Anonymous9 years ago
I do not live in the US but I am pretty certain that 50k a year will be sufficient as long as you know how to balance your money, such as put rent money aside, and money for bills. Then the rest you can manage through groceries, shopping, etc.
- ?Lv 79 years ago
Plus you are just starting out, once you get more experience and become more valueable to a company, your wage will also go up.
- Anonymous9 years ago
Unless you live in an expensive city (like NYC) that is quite sufficient.
- Anonymous7 years ago
definitely