Making Six Figures - What a Joke Thinking You "Made It"

"The old benchmark $100,000 salary that put baby boomers into the category of “rich” is coming up short, according to a recent survey by PYMNTS. The survey found that about 70% of millennials are still living paycheck to paycheck, while the median salary remains at about $70,000 for Americans." - Yahoo Finance, February 27, 2023

No, reaching $100k in salary is no longer "making it." Likely, at least if you are tethered to a pricey metro area for work or have a family, it's relative peanuts. Even with the recent decrease in rent, according to Zumper the median rent for a one-bedroom in Manhattan is $3,595. If you have a family, with the challenges public education faces, private school seems almost a necessity.And what about fitting in requires sticking with popular brands.

More and more of my clients for career coaching feel pulled to strategically plan to migrate into a higher salary bracket. The $100k is neither paying the bills nor moving the dial closer to the American Dream.

But until the path opens to the promised land of adequate compensation, how do those stuggling to remain in the middle class cope financially? The smug hammer this: The Minimalist Lifestyle. Essentially that means living - metaphorically - off the grid. 

However, even for individuals that is impossible since they have to maintain their personal branding. To show up to work, network, and even hold on to friendships that matter, there has to be a certain level of maintenance. 

For families, forget it. The children could wind up bullied.

Instead there can be less radical approaches to effective budget management. 

The vacation can be day trips. 

Home schooling could eliminate the need for private schools. 

Researching nutrition could cut the grocery bill. 

What about the kids picking up earning opportunities. Urbansitter documents that the average hourly for childcare is $20.57 for one child and $23.25 for two. 

You yourself can add on other sources of income. There is rental property. There is tutoring such as on Wyzant. There is driving Uber.

The joke here is that some of us used to gush about "making it." Now the narrative is about financial survival. The new definition of success evolving is: Being able to pay bills on time, with no interest attached.

Intuitive career coaching about your present and your next. Shut down the noise from that committee in your head and open to possibility.  In addition, Jane Genova is an award-winning writer on Human Resources issues.

Whether you need guidance or that your organization’s story be told, please make an appointment for a complimentary consultation at janegenova374@gmail.com or text 203-468-8579.