Connect with us

CBS News

Here’s how much you need to earn to live comfortably in major U.S. cities

Avatar

Published

on


If you want to live comfortably in any of America’s largest cities, it will come at a high price, according to a new study.

An individual must earn $96,500 a year before taxes to afford housing, groceries, transportation and entertainment, while also paying off debt and putting some money into savings, according to personal finance website SmartAsset. A two-parent household supporting two children needs a combined $235,000 to live comfortably, SmartAsset said in a study released Thursday. 

Those income levels only apply to Americans living in the nation’s 99 largest cities, according to SmartAsset’s study, which also noted that it takes an even higher salary to reside in sprawling metros like Boston and New York.

Americans need such high income, in part because housing and higher consumer prices have “wreaked havoc on the cost of living in cities,” said Jaclyn DeJohn, managing editor of Economic Analysis for SmartAsset.

“This undoubtedly impacts how far income goes in major cities, as wages have not kept up,” DeJohn told CBS MoneyWatch. 


Income isn’t keeping up with inflation, 76% of Americans say in new CBS News poll

04:35

The income figures from SmartAsset are noteworthy considering how a vast majority of Americans don’t earn anything close to those amounts. The latest data from the Bureau of Labor Statistics found that the typical American makes between $62,000 and $73,000 a year. One estimate found that the median U.S. household income is $77,397. 

Only 18% of individual Americans make more than $100,000 a year, according to 2023 data from careers website Zippia. About 34% of U.S. families earn more than $100,000 a year, according to Zippia. 

A noteworthy wrinkle to that data, according to SmartAsset’s figures, is that for many Americans, earning six figures hasn’t created the level of comfort for which they had hoped. Roughly 4 out of 10 Americans earning $100,000 or more are still living paycheck to paycheck, a 2023 LendingTree study found. 

SmartAsset created its data by compiling living wage statistics from the Massachusetts Institute of Technology and applying the 50-30-20 rule of budgeting where 50% of one’s income should be devoted to paying for necessities like housing and food with another 30% covering wants (like vacations or a spa day) and the remaining 20% covering debt and savings. SmartAsset also determined that living comfortably will cost the most in:

  • New York City ($138,570 for an individual; $318,406 for a family of four)
  • San Jose, California ($136,739 for an individual; $334,547 for a family of four)
  • Irvine and Santa Ana, California ($126,797 for an individual; $291,450 for a family of four)
  • Boston ($124,966 for an individual; $319,738 for a family of four)

  • U.S. food prices remain high despite ease in inflation

    03:47

Cyrus Purnell, a personal finance expert at Financial Finesse, said he’s not surprised by the higher price of comfort in those five cities because most of that extra cost is going toward housing. 

“I’ve seen cases where couples earning $250,000 a year with a family of four are struggling to find a home that’s affordable for them to do all the other things they want to,” Purnell said. “If you toss in daycare or private school, that can quickly get into a situation where $300,000 is more comfortable.”

To be sure, Purnell noted, there are millions of Americans living in large cities who aren’t making the salaries that SmartAsset said is needed to live comfortably. Those individuals are likely working second jobs — often in the gig economy — in order to cover basic necessities, he said.  

SmartAsset’s study is one piece of research among many that’s provoking Americans to rethink what type of salary it takes to be wealthy in the U.S., Purnell said. 

“In our society, for many years, we’ve tied wealth to the concept of six figures,” he said. “For a long time, you thought, if you hit $100,000, that’s probably good. But a lot of it now comes down to where you live and the circumstances of your lifestyle.” 



Read the original article

Leave your vote

Continue Reading

CBS News

Congo finally begins mpox vaccinations in a drive to slow outbreaks

Avatar

Published

on


Congolese authorities began vaccination against mpox on Saturday, nearly two months after the disease outbreak that spread from Congo to several African countries and beyond was declared a global emergency by the World Health Organization.

The 265,000 doses donated to Congo by the European Union and the U.S. were rolled out in the eastern city of Goma in North Kivu province, where hospitals and health workers have been overstretched, struggling to contain the new and possibly more infectious strain of mpox.

Congo, with about 30,000 suspected mpox cases and 859 deaths, accounts for more than 80% of all the cases and 99% of all the deaths reported in Africa this year. All of the Central African nation’s 26 provinces have recorded mpox cases. Officials in Congo previously told CBS News that they’ve struggled to diagnose patients and provide basic care in the vast country of 100 million people, where a fragile, under-resourced healthcare system is also burdened by the stigma associated with the virus. 

Although most mpox infections and deaths recorded in Congo are in children under age 15, the doses being administered are only meant for adults and will be given to at-risk populations and front-line workers, Health Minister Roger Kamba said this week.

“Strategies have been put in place by the services in order to vaccinate all targeted personnel,” Muboyayi ChikayaI, the minister’s chief of staff, said as he kicked off the vaccination.

Congo Mpox
A health worker attends to an mpox patient, at a treatment center in Munigi, eastern Congo, Aug. 19, 2024.

Moses Sawasawa / AP


At least 3 million doses of the vaccine approved for use in children are expected from Japan in the coming days, Kamba said. 

Mpox, also known as monkeypox, had been spreading mostly undetected for years in Africa before the disease prompted the 2022 global outbreak that saw wealthy countries quickly respond with vaccines from their stockpiles while Africa received only a few doses despite pleas from its governments.

However, unlike the global outbreak in 2022 that was overwhelmingly focused on gay and bisexual men, mpox in Africa is now being spread via sexual transmission as well as through close contact among children, pregnant women and other vulnerable groups, Dr. Dimie Ogoina, the chair of WHO’s mpox emergency committee, recently told reporters. 

More than 34,000 suspected cases and 866 deaths from the virus have been recorded across 16 countries in Africa this year. That is a 200% increase compared to the same period last year, the Africa Centers for Disease Control and Prevention said. 

A lack of diagnostic materials and basic medicines to treat the virus, which can improve survival rates, have also hampered efforts to contain the outbreak, and access to vaccines remains a challenge.

Congo Mpox
A health worker attends to a mpox patient, at a treatment centre in Munigi, eastern Congo, Monday, Aug. 19, 2024.

Moses Sawasawa / AP


The continent of 1.4 billion people has only secured a commitment for 5.9 million doses of mpox vaccines, expected to be available from October through December, Dr. Jean Kaseya, head of the Africa CDC, told reporters last week. Congo remains a priority, he said.

At the vaccination drive in Goma, Dr Jean Bruno Kibunda, the WHO representative, warned that North Kivu province is at a risk of a major outbreak due to the “promiscuity observed in the camps” for displaced people, as one of the world’s biggest humanitarian crisis caused by armed violence unfolds there.

The news of the vaccination program brought relief to many in Congo, especially in hospitals that had been struggling to manage the outbreak. Doctors with several charities working in the country have told CBS News they’re overstretched and short on supplies, even having to use tents and mattresses on the floor of makeshift isolation wards to treat a constant influx of patients. 

“If everyone could be vaccinated, it would be even better to stop the spread of the disease,” said Dr. Musole Mulambamunva Robert, the medical director of Kavumu Hospital, one of the mpox treatment centers in eastern Congo.

Eastern Congo has been beset by conflict for years, with more than 100 armed groups vying for a foothold in the mineral-rich area near the border with Rwanda. Some have been accused of carrying out mass killings.



Read the original article

Leave your vote

Continue Reading

CBS News

Saturday Sessions: Marcus King performs “Save Me”

Avatar

Published

on


Saturday Sessions: Marcus King performs “Save Me” – CBS News


Watch CBS News



Grammy-nominated singer-songwriter Marcus King started playing guitar at eight. As a teen, he formed his own band and started performing. Now, he’s releasing his third critically acclaimed solo album. The personal project focuses on mental health and was produced by the legendary Rick Rubin. From “Mood Swings,” here is Marcus King with “Save Me.”

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

New documentary explores the private life of “Superman” icon Christopher Reeve

Avatar

Published

on


Long before comic book characters dominated movie screens, actor Christopher Reeve made the world believes in superheroes with the 1978 classic “Superman.” 

Reeve died in 2004, nearly a decade after an accident re-shaped his life. “Super/Man: The Christopher Reeve Story” is using interviews with family and friends and never-before-seen home videos to explore his real-life heroism. 

Reeve started his career on the stage, studying at the prestigious Juilliard School and living with comedian Robin Williams. The pair had a friendship that was “more like a brotherhood,” said Reeve’s son Matthew. Reeve was in awe of Williams’ energy and versatility, Matthew Reeve said, but audiences quickly clued into Reeve’s own star power when he took on the role of the Man of Steel

Christopher Reeve in 'Superman'
Christopher Reeve as Superman in a scene from “Superman.” 

Warner Bros. Pictures / Getty Images


To his children, though, he “was just dad,” Matthew Reeve said. The documentary explores how Matthew Reeve and his sister Alexandra Reeve Givens grew up watching their dad take the stage as Superman. “Super/Man” also reveals their heartbreak over their parents’ breakup and the joy they found when Reeve re-married. He tied the knot with Dana Reeve in 1992, and the pair welcomed another child, William Reeve, later that year.  

“Dana was sunshine,” Alexandra Reeve Givens recalled. “She just brought joy with her wherever she was and could find it even in the darkest moments.” 

Those dark moments came suddenly, when in 1995, a near-fatal horseback riding accident left Reeve paralyzed from the neck down. The documentary allows viewers to see, for the first time, what went on out of the public’s view. Reeve can be heard talking about how he “ruined (his) life and everybody else’s,” but in a touching moment, old friend Robin Williams is seen visiting him in the hospital.

“Robin showed him ‘Hey, you’re still you,'” Alexandra Reeve Givens said. “‘You still have this foundation of friendship and people around you, who adore you. And you’re going to find those fun moments in life again.'” 

That support from friends and family re-ignited Reeve’s legacy of activism. He made appearances at the Democratic National Convention and the 68th Academy Awards in 1996, about a year after the accident. Matthew Reeve said watching his father address his industry peers at the Oscars was “one of (his) most proud moments.”

“It was just a production for him to get out of bed every morning, let alone get across the country and go out in public for the first time,” Matthew Reeve said. “It was a big deal. It was a big deal to him, but it was also a big deal to the entire disability community. We stayed up in London till like three in the morning to watch that live. It’s a fond memory.”  

Actor Christopher Reeve (L), wife Dana (R) and com
Christopher Reeve (L), wife Dana (R) and comedian-actor Robin Williams (C) pose while at the Governor’s Ball after the 68th Annual Academy Awards 25 March in Los Angeles.

Vince Bucci/AFP via Getty Images


Reeve also went on to launch what would become the Christopher and Dana Reeve Foundation, which is dedicated to advancing research into spiral cord injury and help individuals and families impacted by paralysis. It was his dad’s mission to find a cure, Matthew Reeve said, while his stepmother wanted to focus on improving the lives of paralyzed people and their families. The foundation and Reeve’s platform helped bring unprecedented attention and funding to spinal cord injury research. 

Reeve even kept acting and realized his lifelong dream of directing with the 1997 HBO movie “In the Gloaming.” Reeve died in 2004 from heart failure at 52.

“There is a huge amount of great actors and actresses out there, where their filmography might be amazing and what they achieve on a cultural level might be amazing, but have they actually achieved anything really as a human that moves the needle for our society?” said filmmaker Ian Bonhote, who made the documentary with Peter Ettedgui. “And Chris has done both things.” 

“Super/Man: The Christopher Reeve Story” will open in theaters on Friday, Oct. 11. 



Read the original article

Leave your vote

Continue Reading

Copyright © 2024 Breaking MN

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.