Investing Simple Logo
Menu
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Krysten Zinon on March 28, 2023
Category: 
FTC Disclosure

Is $80,000 Per Year A Good Salary In 2023?

In 2023, the question of whether $80,000 per year is a good salary depends on various factors such as location, industry, education level, experience, and lifestyle.

To put things into perspective, according to the United States Census Bureau, the median household income in the U.S. in 2021 was approximately $68,000.

Location

This means that an $80,000 salary would be higher than the median household income in most states. However, if you live in a city with a high cost of living, such as New York City, San Francisco, or Los Angeles, $80,000 might not be considered a high salary.

Industry

Another factor to consider is the industry you work in.

Some industries, such as technology or finance, tend to offer higher salaries than others.

Additionally, your education level and work experience can also play a role in determining your salary. A person with a bachelor's degree and five years of experience in a particular field is likely to earn more than someone with just a high school diploma and no experience.

Lifestyle

Lifestyle is also a significant factor. How you choose to spend your money can impact whether or not $80,000 is a good salary for you.

If you have high expenses, such as a mortgage, car payments, or childcare costs, $80,000 may not be sufficient to cover all of your expenses.

On the other hand, if you have few expenses and a simple lifestyle, $80,000 could be more than enough to live comfortably.

Inflation

Furthermore, it's essential to consider the future as well.

Inflation and the cost of living tend to rise over time, which means that what might be considered a good salary today may not be enough in the future.

It's crucial to plan ahead and ensure that your salary can cover your future expenses, including retirement savings, healthcare, and emergencies.

This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.

Article written by Krysten Zinon

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
magnifiermenuchevron-downcross-circlechevron-down-circle

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

18749
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram