I have no idea how some of you are saying 50K a year is enough to live comfortably. Crazy talk!
50,000 Pre-tax. Single person. America -- thus very different from European costs / taxes/etc.
After taxes, after pre-tax amount going to 401k, and after medical benefits taken out pre-tax, result was approx $2830/month into pocket.
$2830
-$1260/month rent plus utilities (a more expensive apartment ... i.e., one can definitely live cheaper, but, apartments not as nice)
-$300/month groceries
-$40 misc living expenses (i.e. toilet paper, soap)
-$75 entertainment (movies, eating out ----> i.e. I don't spend very much, as a lifestyle choice)
-$90 gas
- $125 auto/renter's insurance
- $70 internet
- $35 phone
- $35 electricity
= $800 / month (->savings/ 'extra' of up to $9,600/year) that can be put into savings or some used to buy some clothing, or 'extras' / hobbies, unexpected things. Also vacations.
So, yeah, $50,000 was sitting pretty for me. As a single person, it was quite comfortable... I mean, given the wiggle room I had. But, everyone has their own level of comfort and luxury they want -- lifestyle choices is what sets your 'comfort level' in salary - well, above and beyond bare bones expenses and survival.