Can you live comfortably on 50k?

For many people, $50,000 is enough income to live comfortably, although your location and lifestyle are important factors. In coastal cities, that money doesn't go as far, but there are certainly households in New York City that live on one or two Social Security incomes amounting to less than $50,000.



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One way some researchers divide individuals into economic classes is by looking at their incomes. From that data, they split earners into different classes: poor, lower-middle class, middle class, upper-middle class and wealthy.

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By age 30, you should have saved about $52,000, assuming you're earning a relatively average salary. This target number is based on the rule of thumb you should aim to have about one year's salary saved by the time you're entering your fourth decade.

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