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What is a good salary to be comfortable?

The median annual living wage — defined as the minimum amount you need to cover expenses while saving for retirement — is $61,617 per household in the U.S., according to calculations by personal finance website GOBankingRates.

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What are premium followers?

They have two followers categories that you can choose from: high-quality and premium. High-quality refers to follows from active accounts with...

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What games pay real money same day?

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The cost of making ends meet can vary by as much as $80,000, depending on which state you live in, a new analysis finds. The median annual living wage — defined as the minimum amount you need to cover expenses while saving for retirement — is $61,617 per household in the U.S., according to calculations by personal finance website GOBankingRates. However, in the 15 states with the highest threshold for a living wage, you'll need to earn $70,000 or more to cover expenses. Out of 50 states, the highest living wage is $132,912 in Hawaii and the lowest is $51,754 in Mississippi. Here's a look at the 15 states with the highest living wage thresholds: Hawaii: $132,912 New York: $101,995 California: $94,778 Massachusetts: $86,480 Alaska: $85,083 Oregon: $82,926 Maryland: $82,475 Vermont: $78,561 Connecticut: $76,014 Washington: $73,465 Maine: $73,200 New Jersey: $72,773 New Hampshire: $72,235 Rhode Island: $71,334 These states tend to have higher costs for homes, taxes, food, health care, utilities and transportation. Compared to other states, the remote islands of Hawaii have a limited supply of land and higher import costs for goods, which accounts for its No. 1 ranking. The silver lining is that, generally, people living in these states tend to get paid more. All of the 15 top-ranked states have household incomes above the national median of $65,712 — with the exception of Maine, which is $63,440 — according to 2020 data provided by the St. Louis Federal Reserve. Most of these states have a median household income in the $70,000 to $90,000 range, with Maryland's median household income of $94,384 leading the pack. Of course, many people in these states are paid a minimum wage and earn less than $31,200 per year, based on a 40-hour work week — well below the threshold of a living wage. GOBankingRates defines "living wage" as the income you'll need to cover necessary and discretionary expenses while still contributing to retirement savings. Estimates for these expenses were calculated using the most recent consumer expenditure data from the Bureau of Labor Statistics. The analysis then uses the 50/30/20 rule, which divides income by 50% for necessities like rent or food, 30% for discretionary expenses like going to a movie, and 20% for savings or investments. Salary data is from a 2020 study, so those numbers might be slightly higher now, due to wage inflation. Don't miss: I spent 5 years interviewing 225 millionaires. Here are the 4 types of rich people and their top habits

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What is the 4.7 rule for retirement?

Retirees do not need to limit their annual starting withdrawals from retirement savings to 3% to 3.5%, as some financial advisors recommend, he says. Instead, retirees can safely withdraw up to 4.7% a year without threatening to wipe out their retirement savings before 30 years have elapsed.

Recently, the 4% retirement income rule has been questioned by some financial advisors as being too aggressive in today’s world. One retired financial advisor who disagrees is William Bengen (pictured), the numbers cruncher who originally came up with the 4% Rule back in 1994. In a recent interview in Investor’s Business Daily, Bengen says if anything the 4% Rule is too conservative, not too aggressive. Retirees do not need to limit their annual starting withdrawals from retirement savings to 3% to 3.5%, as some financial advisors recommend, he says. Instead, retirees can safely withdraw up to 4.7% a year without threatening to wipe out their retirement savings before 30 years have elapsed. The reason so many people think the 4% Rule is out of date is that they overlook its premise, he adds. “When I did the original research, I was looking for the worst possible time to retire,” Bengen told IBD. “That was late 1968, early 1969.” Read the full article.

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