$300,000 is a top 10% income. But unfortunately, making $300,000 will provide you a very middle class lifestyle in a big expensive city, especially if you have children. To make $300,000 usually means having to live in a more expensive city. Making this level of income also means having to work long hours.

A $300,000 annual salary is exceptionally good and places an individual or household in the top 2% to 3% of earners in the United States. To put this in perspective, the national median household income hovers around $75,000 to $80,000. At the 300k level, you have significant "discretionary income," allowing for high-end housing, luxury travel, and substantial retirement savings. However, the "feel" of this salary varies wildly based on geography. In a "Low Cost of Living" (LCOL) area like Indianapolis or San Antonio, 300k provides a lifestyle of extreme wealth. In "Very High Cost of Living" (VHCOL) cities like San Francisco, Manhattan, or Seattle, while you are still very comfortable, a large portion of that income will go toward high state taxes, astronomical housing costs, and private school tuitions if applicable. After federal, state, and FICA taxes, a 300k earner might take home roughly $180,000 to $200,000 depending on the state. While it is certainly a "rich" salary by any standard, in the most expensive zip codes, it may feel more like "upper-middle class" rather than "unlimited wealth."