My gut reaction was the same as yours, but after reading the article I don’t think they are far off.
$140,000 for a family of four in certain locations could be doing very poorly.
After taxes, it’s about $110,000 a year. According to a few sits I found when seaching, the per year cost of a child varies by state. In NY, it’s approx $30k per year. So, for a family of four with two kids that $50k-60k a year.
I think the headline is a little misleading.
My gut reaction was the same as yours, but after reading the article I don’t think they are far off.
$140,000 for a family of four in certain locations could be doing very poorly.
After taxes, it’s about $110,000 a year. According to a few sits I found when seaching, the per year cost of a child varies by state. In NY, it’s approx $30k per year. So, for a family of four with two kids that $50k-60k a year.
That leaves about $60k a year. Housing costs in NY is approx $4.3k a month for a 3br house. . That’s $51,600 a year.
You now have $8,400 left for the utilities, food, clothing, etc.
The current federal poverty level is roughly $30k/yr which is basically impossible to make work.