What is a good starting , or minimum, income to raise a family?
Including one child? In the western world. Or where you live.
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I would think in my area you would want to make at least $45,000 – $50,000 a year for a family of three.
5% more than you earn at any given time.
This is a hard question. Housing is outrageously expensive where I live. I think a family of 3 needs at least $55,000 (US) here. I know there are places where it is much cheaper to live, but those places often lack a wide variety of employment availability. Again, hard question.
Housing here is not expensive (one of the lowest in the country) but taxes are high. A 1500 square foot starter home with 3 bedrooms. basement, LR, DR, 1 Bathroom, garage on about ½ acre (20,000 sqft) lot in an established neighborhood in the suburbs will run about $100,000. Property and school taxes will be about $4000 per year.
A family income of $50k per year is doable for a conservative family.
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