$100k isn’t $100k anymore

When was the first time you became aware of $100,000 as an idea? The “idea” being the aspirational salary for a successful professional. The idea that if you make $100k, you’re well off. For me, it must have been sometime in the mid 2000s. Let’s say 2005 for the sake of this exercise. 

I became aware of the idea of the $100,000 salary in 2005, and have held that number in my mind since then as a benchmark. Here’s the crazy thing. 2005’s $100,000 only has the equivalent buying power of $66,000 in 2023’s money, according to this US inflation calculator. Which means a few things. First, if you make $66,000, congratulations. You’ve made the economic equivalent of $100k when you first heard about $100k. Second, if you really want to reach the equivalent milestone of $100k that you’ve been holding as a carrot in front of you, you need to make $150k. Third, This number will change again soon. $200k will be the new $100k. An arbitrary number says nothing about the path you’re on, the personal investments you’re making, or the potential of what you could earn. Don’t be limited by these arbitrary numbers. 

But fourth, and finally—money comes and goes. You’ll probably earn whatever your goal is someday, and you still won’t be satisfied. Your problems won’t be solved, and you won’t feel complete. Be grateful for what you have today and the life you have now. Because that’s the secret to enjoying whatever is in store for you down the road.