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Most Americans’ Salary Doesn’t Pass The ‘Good Income Test,’ Dave Ramsey Says $36k ‘Doesn’t Cut It’
How does your income stack up?
The dollar amount of income needed to survive in the declining economy has been an important subject for the past few years. Yahoo News reports that Dave Ramsey reveals how much Americans need to make to pass what he called the “good income test.”
A guest on The Ramsey Show revealed that she made $36K a year. She saves over a thousand a month, putting in a high-yielding savings account for her future home purchase. She felt that her income was sufficient but wanted to ask Ramsey how her income measured up to his “good income test.”
“Good income is not a moral statement,” Ramsey explained. “Good income is relative to the average household income in America, which is $78,000 right now.”
According to the Census Bureau, the real median household income in the U.S. was $78,250 in 2019, falling to $74,580 in 2022. The mean salary for full-workers is $1,145, roughly $60K a year. Ramsey pointed out…
