For a single adult to live comfortably in Miami, you need to earn more than $100,000 a year. For a family of four, that number jumps to more than $230,000.
That’s according to a new report from SmartAsset, which says that to “live comfortably,” you should follow the 50-30-20 rule. That means 50% of your post-tax income goes to needs like rent, groceries, and utilities, 30% to wants, and 20% to savings or retirement.
The problem? The same study shows that while a family of four in Miami should be making about $230,000, the median household income is just over $66,000. In Hialeah, it’s even lower, at just over $57,000.
So, how can you get help?
There are nonprofits like United Way Miami, which we at NBC6 have highlighted before, that support families at or below the poverty line by connecting them with resources.
Miami-Dade County also offers assistance programs.
