Money

$32,500? I'd love to make that much money.

 

Same here. Six years into this business and I've yet to get past $26K.

 

it's not for us to say.

 

There's two different questions at work.

1) Can you make a solid living on $30,000? $25,000? Absolutely. It involves learning a lot about how to handle money, yourself, about what you do and do not get value out of, and what is and is not a luxury. You can pretty much do anything the people making more can do. You just can't do all the things they do at once. You have to pick out which one is really a priority to you. You can have a large family, nice electronics, you can have an expensive hobby, you can travel, but you definitely can't do all four. Or even two of the four.

2) At what point does more money stop making you happier? I think that's a lower threshold than most people realize, but the answer is different for everyone. There's been a lot of research that shows that people tend to overestimate how much more money would impact their day-to-day happiness. There's definitely a diminishing return.

 

The numbers being thrown out here, while indicative of journalism, would be the source of uproarious laughter in just about any other industry. $32,500? Go tend bar, work the same hours, make twice as much tax-free and have a lot of sex too.

I know people are lining up for these opportunities. But boy oh boy, you really have to love seeing your name on the top of that story.

 

I'm sorry Rick, there are parts of this country where you simply cannot live on $25,000-$30,000 per year.

 

If some of my relatives knew how much reporters made, I think I'd get some checks along with a Christmas card.

 

Then don't live there. Choice of where to live is also a luxury.

There's a point where you have to quit sitting around feeling sorry for yourself for making $25k, and say "Okay, how can I get the most out of this $25k?" When you do that, you'll be surprised at how far it goes.

 

Or you have a good plan to increase your income.

 

I live where I choose to live, I live the way I choose to live, I spend whatever I feel like spending. And I make a whole lot more than $25,000.

But I'm really impressed that your reply was "then don't live there," when you have no idea about anything except your own lifestyle.

 

Well, making more than $25k is the other option. If you want to live in a certain place, and it costs more than $25k to live there, then your options are make more than $25k or don't live there.

 

Well, like I said, I think a lot of it depends on where you live. Somebody in, say, rural Idaho or Georgia could live pretty well on $32.5k. Not so much if you're living in NYC or LA.