Remember when having a salary of $100,000 a year meant something? It meant you worked hard and kept focused allowing you to enjoy the spoils of keeping your nose to the grindstone all those years.
The rising cost of living has ruined all that.
A new study from GOBankingRates.com found that in some cities across the country, the power of a six-figure (or more) salary is "seemingly fading." And we're seeing that in action for ourselves right here in North Texas.
According to their study, Plano is one of the cities across American where a $100,000 salary lands you in the lower middle class. More specifically, you'll need to earn more than $117,421 to qualify as middle class.
The site read:
As an upscale Dallas suburb, Plano's thriving business community, downtown amenities and top-rated schools come with a 21% higher cost of living than the U.S. overall. But its corporate headquarters, low unemployment and UT Dallas satellite campus make it attractive for career-driven families able to absorb the premium for Plano's costly lifestyle.
Northern California and Virginia top the site's list, where the maximum lower middle class income range goes from $128,964 to $152,652.
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