tom169

Most people don't uproot an entire family half way around the world.

mrken30

I think a lot of people on $75k a year are struggling and have a considerable amount of debt. Mostly trying to live a lifestyle they cannot afford. A lot depends on where you live of course. Biggest issues being housing costs.

Pulaski

What Tom said!

It's all very well living on very modest means, in a community you know and with friends and family nearby, and a whole other matter moving internationally and having to set yourself up with vehicles, furniture, appliances, etc. and try to balance your budget if your income is limited. Not least because many new immigrants might expect an annual trip "home", and at $1,000/person for a family that is a huge cost if your gross income is $75k, and a cost that Americans on the same income wouldn't even contemplate - a trip to the UK or Europe would be a once in a lifetime trip.

scrubbedexpat099

Of course not, and most people do not live in the SF bubble.

According to my Brother a good Green keeper, qualified etc in the SE of England should be on c GBP50k for reference purposes.

mrken30

The Trump administration has refused to commit to reimbursing insurers for subsidies that reduce out-of-pocket costs, including co-payments and deductibles, for those who earn less than 250% of the poverty limit, which is $61,500 for a family of four.

Bob

Really depends on where you live though, doesn't it.

Out where the missus' folks live, there's a 55 acre spot of land for sale for $50K, there's a 3 bed house on the river for $25K and a 6 bed house with a 4 car garage on 8 acres for $100K.

$100K would literally not be enough to get a 2 car garage down my way...and it's not like I'm living in Boston itself, but quite a bit out in the burbs.

Pulaski

You're talking about something different, and I suspect that you have omitted the word "continue" from the first line.

This is what I was talking about: "Households with incomes between 100% and 400% of the federal poverty level were eligible to receive federal subsidies for policies purchased via an exchange."

mrken30

It was quoted from our local liberal newspaper, so everything is anti Trump.

However this subsidy appears to be minimal and uncertain at the moment.

The biggest issue for insurers is federal payments that reimburse companies for reducing the health-care costs of low-income ACA enrollees, which the Trump administration has threatened to halt. The potential loss of those payments was expected to add about 20% on average to the cost of middle-tier ACA silver plans, according to an analysis by the Congressional Budget Office.

Health Insurers Make Final Call on ACA Plans--2nd Update | Fox Business

carcajou

Only 5% of Americans make $100,000+ per year; for $200,000+ per year, it's 2%.

So for the vast majority of Americans, $75,000 per year would be a nice, or very nice, but not spectacular salary, with geographic variations thrown in.

As others have pointed out that is not going to get you a penthouse in New York or San Francisco. It will get you a fairly big place with acreage in many parts of the country though.

As for the "safety net" quite frankly you have to research it yourself to see what applies to you. The discussions here quickly turn into misinformation sessions coloured by pro- and anti-Trump propaganda. The "safety net" in the US is neither as bad as some want to claim nor as rosy as others want to claim.

My grandfather was a USC with a bad heart who had multiple heart attacks over the decades - I remember one particular stay at a very good hospital with a sticker price of $50,000 per night, but that cost him zero because of his specific policy and pension coverage. So it worked for him because of his set-up, but might not work for others because of their set-up. Some of that may end up being out your control.

I also know someone else on Medicaid whose out-of-pocket is capped at $75 per hospital visit and $4 per doctor visit. But, that again is because that person meets specific criteria and isn't available to most people.

The health care system can also bankrupt you very easily if you aren't set up properly (and possibly for some things beyond your control) and that does happen to numerous Americans.

My advice to you would be, to be very mercenary about this - do what is in the direct interests of you and your family. Don't trip over pennies when you are chasing Dollars/Pounds, and ignore anyone whose advice to you is prefaced with political commentary as that is irrelevant to your situation.

Pulaski

That's my working theory for everything you post. .... Except when it's anti-Conservative/ anti-Theresa May.

Bob

Thing is, a lot of people have two earners in the household to get that figure. Depending on visa, this might not be a option for the OP and there are significant start up costs that won't apply to people already here.

Why move half way around the world to struggle. It's not fun.

And the safety net you mention, much of it won't be available to the OP, not being US citizens.

Pulaski

That's it, in a nutshell!

Twinkle0927

Added to that is the fact that, at 5 people, OP's household is already almost double the size of the average household in the country. So whilst the "average American" may be happy with $75k, the "average American" is not feeding 5 people on that. Just because other people can get by on that amount, doesn't mean that uprooting a family is worth it for that money.

Bob

Yes and not to mention that's 3 kids worth of after school activities, sports, or whatever. Which can be terribly expensive, even for mundane things. Though the cost does vary wildly on location.

mrken30

This article from 2015 said around 20% earn over $100k. It also explains quite well how far $100k may or may not stretch to meet your expectations.

Why Is a $100,000 Income No Big Deal Anymore? | Bankrate.com

Not sure where you got your 5% figure from.