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Subscribe to RSSFor the past two weeks, TODAY.com’s Life Inc. blog has been exploring what it’s like to live on the nation’s median household income of about $50,000 a year: Not rich, not poor, but rather in the exact midpoint of the nation’s income spectrum.
To conclude the series, we asked the people we interviewed to tell us, on video and in their own words, a bit about what it’s like to be part of the median. Here’s what they had to say:
For some, a household income of around $50,000 a year is enough to live comfortably with a large family. For others, it’s not enough to cover rent and utilities.
Many people living on around $50,000 a year told us that they are doing fine, but not great. They can cover their bills and feed their families, but there is little leftover for an emergency car repair or a family vacation.
How well a household can do on $50,000 a year depends on a number of factors: Where you live, how large your family is, how well you’ve budgeted and what kind of financial curveballs you’ve been thrown.
Click here to see previous stories in our "We are the median" series. We’re also sharing our thoughts — and yours — on Twitter (hashtag #median), Facebook and Google Plus. We invite you to comment on our posts — but keep it civil and on topic, please!
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If the median is $50K, how does the other report say 1 in 2 are at poverty level - something doesn't jive!!
We don't have the austerity measures in place yet heh heh
Since the definition of median is the value that separates the upper half from the lower half of a statistical sample, then ya it does make sense that one in two are at poverty level. Which really comes as no surprise when American's maths kills are so bad that they don't know what a median is...
The statistic is 1/2 Americans are either in poverty or are low income. The median income is per household, not per person. Many lower income households have more family members living together than higher income households.
A family of 4 making $45,000 a year is considered low income. The median income is not much more than that, so larger households would be considered low income, even if they are at the median income level. It's really sad when you think about it.
I liked this series. Most of those profiled were working hard, budgeting and planning. There seemed to be very little whining or blaming others.
Not sure what planet most posters live on, but this is what life is. We all budget, save, scrimp. I consider myself fortunate. I went to a community college and a bargain state school and have no student loans. I had a series of good jobs and now own my business. We tried to save 25% of our income for kids college and to start the business. We own two 11 year old cars each with well over 100M miles. We don't eat out. We shop at Target and Costco. Each month is a struggle to pay mortgage, tax, health insurance, etc. But we make it. I listened to stories of my parents and grandparents in the great depression and WW2. That was tough. This is an inconvenience, but we persevere.
When you look in the mirror and tell that guy to get it done, it is a lot more productive than blaming Obama, Bush, Wall Street, etc.
It has to do with statistics. Median and average are not the same. Median means that 50K is the midway point for total number of households. There are an equal number of households making greater an equal number making less.
When you think about how disproportionate assets are owned in this country with5-10% of the country having as many assets as the other 95-90%, it's not hard to see how 1 out of 2 people live in poverty or 50%.
@Gary420 I loved your thoughts; sounds like you have a great perspective on life. Thanks for reading the series!
my husband is permanently disabled. I have a 20 yo and an 18 yo at home. I want them here. I need them here- because on a single SSD check I cannot afford to stay i my home.they are pitching in as well.They would never be able to move out and live on their own as well-the jobs are not out there for them.I would like to see someone on poverty level interviewed for this story. Besides my husband getting social security-we do not receive any other assistance.In my town-white is the minority and I have already been treated disparagingly by the local assistance office in the past (I'd rather beg than apply) I highly believe in the grace of God. SO lets see some interviews with people who live with on about $13K a year and do not take any government handouts.
If you're living on $13k a year and not taking government support, then you are stronger than the strongest with incredible dignity.
I don't think the real problem is what we have or how we spend or the lifestylle we live. The problem is the dreams of improving our lot in life is being eroded and needs to be re-ignited and our government is not able to help
When the dream is gone , whats left ?
The government is doing everything it can to make it impossible for one to live on 50K a year. All this green stuff is a waste of tax payer money. Ethanol ( corn for fuel) is driving up the cost of everything we eat. The EPA is stopping the pipeline, drilling and fracking operations that will bring jobs reduce fuel cost and make us less dependent on oil from outside the country. NLRB is forcing unions on right to work states costing jobs and raising the cost of goods making us less competitive. It is the Democrats who are the real obstructionist . I give you Mr. Reid and 27 bills piled on the Senate table because they refuse to compromise.
Should we compromise our drinking water for energy?
You parrot what you heard on Faux news. You are not a reasonable person.
I want to just thank the makers and producers of this series. I found it to be very enlightening and interesting. I never missed an entry. It made me think a lot about America and Americans. It made me proud of both. It also made me realize that I need to have a budget…I don't spend a lot, but I don't have a budget, either. Thanks again, NBC and well done!
Thanks for your comments - much appreciated!
What makes me angry is the politicians are not doing what they should be doing for Americans. We have an estimated 18 to 20 million non-Americans in this country taking homes, medical, education and food from Americans. This would be one place to start to dealing with this issue. What in the world is wrong with those in D.C.?
Too many millionaires who have lost sight of the average person.
These people are all future democrat voters!!!! The Dems want to give them amnesty, why do yoiu think???????
Special Interests exposed:
Ronald Reagan gave amnesty to approximately 4 million illegal immigrants, the largest such amnesty ever granted.
The truth stings, doesn't it?
I'm glad your showing all aspects of those living on $50,000 or less but we really do not know the whole story behind their success or down fall. Everyone has a responsibility to live with in your means. I don't place blame on my living conditions, I do what needs to be done to make it better.
Well Popo, it really doesn't matter where blame is placed. The best thing and the most difficult part is figuring on how to move forward to make it better.
Now that you interviewed the "Median", how about you interview the majority!! Which just happens to be the poor, please don't mention anyone that is receiving government assistance, since that would mean that I, a working person, am paying for their food. FYI the government gets their money from no other place than the working tax payers. LOL, redistribute wealth, yeah Obama did just that except he redistributed the Average American workers wealth to the poor and let the rich get richer.
As for the idiots that say "Live within your means", listen, if you are making $40K a year and are "living within your means" and then you are asked to take a cut in salary or go to unemployment, you obviously take the cut, unless you have no dignity, you now cannot "Live within your means" and yes this is where the majority of Americans are and now are losing the shirts off our backs including the roofs over our heads.
I am going to miss this series. It was one of the articles I looked forward to reading on a daily basis. Can you start another one that solicits ideas on what people are doing to cut back on expenses? I often search the web looking for creative and fun ideas. My fiance and I play a game in which we challenge each other as to who can save the most each month. I lost the last two months but I am hoping to regain the crown this month.
Read This everyone, I was fired from my job in sales when I was 56 That was July 2009.
I was out of work 10 out of the next 12 months. I joined a company that went out of business shortly after I joined them. NO Jokes Please. I am up to my eyesight in debt from Credit Cards etc. I did find work and now though gainfully employed and breaking sales records for my region I am underpaid presently. But I started out with my new employer at $48,000 a year. At my age and the timing it was unfortunate but necessary for survival.
Part of America's problem is simple.
We have lawyers, Master Degree well educated Jerk offs who absolutely have NO Common Sense. Stand for Party and not what they may believe is right constituents .
They were born with Golden Spoons in their mouths and have never ever known what it is to be poor or even Middle Class. Judging from their ignorance, they have no clue or definition of what is Middle Class.
Has anyone asked Grandma Pelosi how much money she made in the stock market over the last couple of Decades? Did she and the other crooks in congress makes laws to suit their purchases?
Why do you think these crooks want no ending to their being in congress. Hey look at old Barney Frank. Anyone ask to see his portfolio?
What the heck has he done to make America better in the last 36 years?
Look at former New Jersey Governor and Senator Jon Corzine. This JERK OFF Graduate from Harvard , Basically Bankrupted New Jersey with the old borrow from Peter and Paul and never pay it back. He did the same thing with an investment company, borrowing from investors gambled it away on a hunch. Which it didn't work. Please, jail suit and time. for this human debris.
What all this means is. If you haven't been there before, what makes you think you can manage it? You think about that. Tell me I'm wrong..How to fix it?
A regular guy, abundant Common Sense, Decisive, Confident Some Military Background and good feel for what his fellow Americans want to see in their Lifetime. If anyone can suggest a person that fits this description. A little savvy, heart and no ghost in the closet come forward and lead America; We are a laughing stock. PLEASE HELP.
But to clarify, the top 5-10% aren't greedy. They earned that and are successful. The Democrats, especially Obama, like to play class warfare and pit the lower class against the upper class by making the lower class think the upper class is just greedy, and that isn't true. Many of those people worked their way up to the top. They weren't born a CEO. They had to work their way up, and many of them don't get to that status until their 50s or so.
And the same can happen to any one of us just as well. If it doesn't that doesn't give us the right to demand that those people give us some of what they have. They are under no obligation to do so and we are the greedy ones if we want it w/o earning it. But somehow, that is how young people have grown up in this country in the last decade or 2. They expect handouts, entitlements, and wealth distribution, either so they can be lazy or because they are lazy (I'm not sure which is the cause and which is the effect). They believe if they can't be successful then no one should be allowed to be successful *and* keep what they earned.
This can breed more laziness because people no longer have to try to get the same benefits as someone else who is trying. There is no accountability and the gov't lets people get away with it. This doesn't argue for BIGGER gov't. It argues against entitlements that the gov't offers in the first place. And it puts the responsibility of helping people in need (truly in need) back into the hands of the church like it used to be. So if someone is milking the system their neighbors will know about it and make sure they can't milk it anymore. We should be our own watchdogs; we have to be since the gov't can't do it and if it really tried it would require even more gov't workers but then our taxes would go up to fund their salaries.
But thanks to Roosevelt who enacted Social Security, it has been all downhill from there as people expect more and more from the gov't. We need to fight back to keep that money and let our local churches help those actually in need. Those who abuse the system will be discovered and their assistance cut off.
I know I'd have more money by the time I retired if I could keep the money I have to give to the gov't for Social Security because I'll never get back what I put into it. That's stealing. I could be investing that money and making even more off it but there are some idiots who would cry bloody murder if SS was eliminated. They just don't understand anything so let them suffer but *I* can handle my money better than the gov't can so why am I not allowed to do so? I'm still willing to pay requisite taxes, don't get me wrong. But only if the gov't will cut their spending so I don't have to fear my taxes going up just, which just gives the excuse for them to spend more.
"The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. The Office of Management and Budget updates the poverty line each year to account for inflation."
If the median salary is $50,000, then 1 out of 2 Americans can't be living in poverty. Unless they tell me that the percentage of people living in households making less than $22,314 is equal to the percentage of people living in households making more than $22,314. Someone needs to go back to school. Statistics are very misleading.
A family of 4 on $50k a year in most places in this country is very difficult. I places such as NJ and MA, it's probably impossible. I'm older than 55 and survived on about $25k gross/yr on my own for 2 years. It was very difficult. My rental was the same per month as section 8 rates. I lived in an old apartment with NO amenities, although it was a reasonable place to live and reasonably maintained. Rentals for less were non-existant. I had NO phone, NO cable, NO health insurance. I didn't see a doctor or dentist for 3 years and had to manage my diabetes condition with no health care or pharmaceuticals of any kind (and no, I'M NOT OBESE EITHER, it's genetically inherited). Fortunately, I'm very healthy and in good physical condition from diet and exercise and martial arts and cross-country skiing, all of which can be continued with very little money. Half or more of my water bill was the billing fee even though I had my own washer/dryer and didn't use a laundramat. I turned off the heat in the winter except when it was below freezing outside. Becasue of the age of the building, it was thermally very inefficient and the A/C-HeatPump/Electric Strip heat was old and inefficient. I didn't qualify for SNAP (i.e., food stamps) or any other assistance. I had NO discretionary income of any kind. I had to think very carefully about where to drive, for what reason and when to minimize mileage, fuel and vehicle expenses. I can't imagine raising a family in these circumstances. I had to eat basic foods from the rim of the grocery store and very little processed/packaged stuff from the center. It's a lot less expensive and I can't eat the junk food in the center aisles because of my diabetic condition. I now understand what my father went through in the Great Depression. His father died when he was 16 and he and his mother supported the rest of their family, including putting himself and his 3 sisters and 1 brother through major universities (UofI and Purdue). I'm a lot better as a person for the enormous austerity I've learned to appreciate and focus on relationships and individual worth rather than material things.