Thursday, December 31, 2020

The American Worker versus East TN

2018-2020 --  The average per worker income is $108,245

2018-2020 --  The average household income in right around $50,000

2018-2020 --  The average middle class income was $48,500 to $145,500

How does this compare to your current income levels?  family or individual?

In 2019...
                In Tennessee...
                                         the average income was $56,627...
                                                                                                   $3,774/month after taxes...

My wife and I receive about $36,000 in Social Security each year as long as we both remain alive...  which is kinda obvious one would think.  but, it is $20,000 less than the average...

  1. If wages increase so too does prices
  2. If wages increase so too does the cost of living
  3. If wages increase so too does taxes increase
  4. Inflation is right around 2% which is not bad    
TN has a cost of living index of 87.6 out of a possible 100 which means it is less expensive to live on average than other places.  AND...  the average monthly cost of living in the USA for a family of 4 is $4,609.00 and if TN is 87.6% of that then TN's cost of living for a family of 4 is about $4,000.00 and less if you are single or a retired married couple.

My wife and I live very comfortably on right around $3,500 each month which does include a couple of week long vacations.  If we want to go more often then we have to draw money out of savings.

In other words, our SOCIAL SECURITY INCOME just about pays for all of our expenses and if we cut back on a few luxuries then we could easily get down to $3,000/month on which to live.  Of course, my wife and I are debt free...  which makes a big difference.

The point is that EAST TENNESSEE is a pretty damn good place to live taking into consideration other factors like:
  • Traffic
  • Pollution
  • City Crime
  • Property taxes
  • Cost of living
  • Weather
  • BLM Crime in cities
  • Healthcare
  • Open spaces
  • Parks and Recreation
  • Transportation



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