I was on a call with the CEO of my company that I am a brand executive for discussing the health of our company, the vision that our company has and how we have the opportunity to help families all over the world live happier, healthier and wealthier lives. Let me tell you, this is something that is so needed with the inflation and sub inflation cost of living pay increases.
I was doing some digging around on this topic today after I went to Costco to fill my gas tank this am. I was completely shocked and in awe that gas at COSTCO, the best priced gas in the county, was at $5.99 per gallon!! I mean, how do people afford living??? My goodness.
Here are some interesting facts that I unearthed.
The top paid professions this year had to do with healthcare, software, financial and marketing. Pilots, lawyers and petroleum engineers were the only 3 outliers in this list of the top 25.
Check the list out here: https://www.entrepreneur.com/business-news/these-are-the-25-highest-paying-jobs-of-2023-report/446656
Lowest median salary was $122,510.
Did you know that only 18% of Americans make over $100,000 per year, and only 34.4% of US households (meaning more than one income households) make over $100,000 per year!?!?
So I decided to then look at what the living wages need to be in California vs Minnesota (the two markets I have personal connections to)
I am going share what a household with 1 working adult and 2 kids because I know most of my mom friends would like to be a stay at home mom or the cost of daycare is so high that they can’t afford to work and do daycare.
I found this MIT living wage calculator webpage so I decided to pull the data from that: https://livingwage.mit.edu/counties/27053
Hennepin County:
1 working adult needs to earn a minimum of $39.82/hr or $82,819/year to pay basic living expenses. That doesn’t include debt, savings, or entertainment.
San Diego County:
1 working adult in the household needs to bring in $47.09 or $97,950 to pay basic living expenses. I also want to add the caveat that this chart is projecting $2250 per mo for housing and at this moment, that amount is undervalued significantly. The cost of housing has skyrocketed. I would say that number has increased to $2700 plus for a 2 bed apartment.
From looking at these numbers, 66.6% of Americans barely make enough to cover basic living expenses.
According to Side Hustle Nation 39% of working Americans report having a side hustle and of those, 52% make $100 or less per mo.
https://www.sidehustlenation.com/side-hustle-statistics/
Unraveling the meaning behind the data in my opinion:
At this time in our country, the most lucrative jobs are in the healthcare, law and high level computer industries. I feel this is due to a rise in stress related illnesses, people needing more money finding ways to use the legal system to help them, and remote work and technology advancements causing the need for skilled computer work.
All of these fields take degrees, student loans/debt, and many years to get into, so what can the average person do to earn what it takes to be a higher income earner?
You can trade hours you don’t really have for dollars at a second job or a gig like Uber, you can freelance, you can create and sell items, or you can get into the network marketing profession where you can utilize small pockets of your day connecting and sharing your vision with people and leverage their efforts along side yours.
One thing I have learned over many years of having 2-3 jobs, then finding my stride with real estate and network marketing is you only have so many hours in the day to be an effective human and get some time in for your self care. We spend 6-8 hours sleeping, 2 hours prepping and eating food, 1 hour of shower and bathroom time, and the rest of the 12-13 hours are left for working, commuting, spending time with family, shopping for groceries or getting gas, and personal time/working out.
If you are like most, you are commuting and at work for 9-10 hours per day at a typical job with a lunch break in there. That leaves 2-4 hours for everything else in a day and the weekends to recoup, and do you.
Where is the time for a gig? How do you spend quality time with kids and family, practice self care in that little section of time without burning out?
You really can’t unless you are able to leverage your efforts or get into real estate.
I offer opportunities in both! Real estate and a business model that allows you to leverage a team so you can make money in your sleep.
Get on my calendar for a 15 min intro call and we can discuss the opportunities available!
Good luck out there!

Leave a comment