How much can Americans and immigrants in the United States save

One of the features of the American mentality is that it is indecent to discuss salaries, at least to talk about specific numbers. But to the author of the channel The ABC of Immigrant on Yandex Zen I was able to ask some about how much they managed to save in interest after paying all the payments. Next - from the first person.

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1. Zach and Emily live in New York. Zach is a programmer, Emily is an accountant. They already have two children, a mortgage, two cars, and kindergarten for the youngest child. Every month they manage to save 45-50% of their income.

2. Kim and Michael from Boston. Kim works as a nurse. Michael is a real estate broker (real estate agent). They have a 6-year-old son. This family has not yet taken out a mortgage. They pay rent for a two-bedroom apartment. Mandatory expenses include two cars. You manage to save about 40% of your income.

3. Alex is a doctor, single mother. The child is 4 years old. Alex spends a lot of time at work, so he resorts to the services of a nanny. The girl told me that she pays her nanny about $3000 a month. There is no mortgage or rent - she owns the apartment. Despite the fact that Alex earns money alone in the family, she manages to save 25-30% of her income “for a rainy day.”

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4. An interesting example with a family from Philadelphia. Anna is a housewife, takes care of everyday life and three children. Dan is a lawyer. This family's mortgage has already been paid off. About 35% of the salary remains. But Dan partially invests this money in stocks, which also generate income.

5. There are also families who live from paycheck to paycheck. For example, Steven and Lisa. Stephen works for the MTA (New York City Subway), Lisa is an office assistant. They have two children, a mortgage, a car loan. About 10-15% of income remains, taking into account taxes.

As you can see, American families manage to save money. At the same time, there is a clear pattern - the higher the salary, the more they can save. At the same time, everyone I interviewed had a local education. We can guess how much they earn under these conditions.

It can be more difficult for immigrant families in the first few years, unless you come with the money initially.

For example, 3 out of 5 immigrant families in the first two years live from paycheck to paycheck. Natalia from Colombia told me that she and her husband work in two jobs each, so that they have enough money to rent an apartment and help their relatives at home. After 5 years of living in the States, as a rule, the financial situation stabilizes.

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In the US, money does not grow on trees. Everyone has to work. But if a person works, then by definition he cannot be a beggar. The American wage system is designed in such a way that even with a minimum wage, you can ensure a normal life.

Original column published on the blog. The ABC of Immigrant on Yandex Zen

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