Take a Look: What To Know If You Deposit More Than $10K Into Your Checking Account. In another post, we detailed the differences between living in an HCOL vs LCOL vs MCOL area. If you make at least $173,000 at age 30, you re considered rich. However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 59k a year is going to be pretty darn difficult. That is a winning combination regardless of your income level. And the middle class is already struggling. hide caption. Instead of just saying what I think, I'm going to share my thoughts on various income levels per person for populations living in coastal cities such as San Francisco, New York City, Los Angeles, Boston, and Washington DC and work out the answer. Earn More Writing - Learn How to Make Money as a Freelance Writer, Be Inspired by One Gentleman's Trading Journey, Government Tax (including Income Tatumx, Social Security & Medicare). High inflation is eating away at the earnings power of all individuals. These key facts will help you with money management and learn how much per hour $59k is as well as what you make per month, weekly, and biweekly. However, the type of lifestyle you can afford will ultimately depend on the cost of living in your area, including housing costs, food costs, and more. The Empowered Business Lab teaches you how to sell your digital products naturally with strategies that just make sense. Here's a sample $200,000 household budget. Only if you are under the age of 25 and live in the MidWest would earning $100,000 be considered well-off. That way you can decide whether or not the job is worthwhile for you. 'use strict';var cls_disable_ads=function(n){function h(a,b){var c="function"===typeof Symbol&&a[Symbol.iterator];if(!c)return a;a=c.call(a);var d,e=[];try{for(;(void 0===b||0