Can I Live Comfortably Making 70K A Year?

The normal salary of a resident of the US is around $56,000 (as of 2020). Salaries above that amount can be good. However, the comfort with the yearly income depends on various factors. Also, there is no hard and fast rule to determine the average salary. Management Analysts, Administrative Services managers, Marine Engineers, etc earn $70k or more per year. Some amount goes for paying taxes. Let us know more detail about ‘Can I Live Comfortably Making 70K A Year?’.

Can I Live Comfortably Making 70K A Year?

Can I Live Comfortably Making 70K A Year?

Making $70k per year is more than average for a comfortable living. Accordingly, you must earn $33.65 per hour working 40 hours per week. However, your lifestyle depends on the amount you spend instead of the amount you earn.

Cost Of Living In The United States: Can I Live Comfortably Making 70K A Year?

Costs of living differ according to the state. The following are the top 5 states with higher costs of living:

  • California: $46,636 per year
  • Hawaii: $36,883 per year, after reducing taxes.
  • New York: $82,637 per year.
  • Massachusetts: $70,333 a year.
  • Oregon: $42,055 per year.

It shows that $70k per year is above average. You may live comfortably in the states with the higher costs of living.

Salary And Money Taken Home

Federal tax rates in the US range from 10% to 37%. Higher the salary more will be tax. If you earn $70k per year, you will end up paying 22% of your income for taxes. This rate remains the same if you are single, head of household, or married. It includes sales tax, income tax, federal tax, property tax, etc. It differs according to the state. However, the taxes are based on the taxable income instead of the salary earned per year.

Jeff Bezos Career Advice
Jeff Bezos Career Advice

So, if you earn $70k per year, you will end up taking home approximately $52,335 per year. If you want to take home $70k per year, you must earn around $98k per year. This amount may differ slightly according to the state. However, you will end up paying relatively higher taxes in the US.

Living Comfortably Making $70k A Year

The following are the factors for expenditures are different methods to handle them to live comfortably with $70k a year:

Number Of People In The Family

This income can make you comfortable if none gets dependent on you. The situation will get worse with the increasing number of family members. It may get better if another family member earns. The ideal income for a family is around $210,000 per year. Create a family budget. You may use different family budgeting systems for the same. Ensure that your expenditures exceed your income.

Savings: Can I Live Comfortably Making 70K A Year?

Residing in the cheapest states is the best option. Some cheapest states in the US are Alabama, Mississippi, Kansas, and Missouri. In the case of cheaper groceries, New Hampshire is better, whereas Honolulu charges the most. Shopping from a cheaper grocery store may help you to save more.

Similarly, you may use public transport. This saved amount may get used for healthcare because the US healthcare systems charge people more. Also, prioritize debts and save accordingly. Energy resources and taxes depend on where you stay.

The Priority List

Items at the top of your priority list must be rent, food, childcare, healthcare, debt, payments, education, etc. Items on the list of your priority list are gifts, vacations, shopping, entertainment, etc. Making $70k a year does not mean you must not save.

Though $70k is more than average in the US, these methods will help you to spend money wisely and save for further unexpected emergencies. If you are going to retire with that amount, you must invest wisely and save more.

Making $70k A Year

The following are some professions that will help you to make $70k per year:

  • Air traffic controller: $52k – $110k per year.
  • System Analyst: $77, 648 per year.
  • Audiologist: Average $77, 845 per year.
  • Distribution Manager: Average $71, 244 per year.
  • Police Sergeant: Average $69, 204 per year.

Your salary will differ according to your knowledge, education, degree, experience, etc. You may earn $70k per year without a degree through apprenticeships, boot camps, certifications, training, self-study, etc.

The following are some jobs that will pay you $70k per year:

  • Web Developers: $77,200 per year.
  • Funeral service managers: $74, 200 per year.
  • Dental Hygienists: $77,090 per year.
  • Nuclear Medicine Technologists: $79,500 per year.
  • Transportation Inspectors: $78,400 per year.


Now we’ve learnt about ‘Can I Live Comfortably Making 70K A Year?’, In most cases, you will not start with $70k. Your initial salary will be around $45k per year. You will land on $70 after a few years. If you have been in the same career for 20 years and still earn $70k, go for a salary raise. However, you can live comfortably making $70k a year in the US. If your salary is $70k, you will end up taking home $52,335 per year. Your salary must be $98k to take home $70k.

Frequently Asked Questions
  1. Can A Family Live With $70k In The US?

The living costs in the US depend on the state. If both partners work and have more than one kid, $70k will do. But, a big family will struggle a lot if only one person earns $70k.

  1. How To Determine If I Can Live Comfortably Making $70k A Year?

Various factors which determine if you can live comfortably making $70k a year are Debt, size of family, number of earners, healthcare, monthly expenses, and more.

Can I Live Comfortably Making 70K A Year?

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