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hey everyone this is being with registered nurse RN Coleman in this video I'm going to talk about some salary information I'll tell you the average income in the United States I'm also going to tell you the median household income and I'm going to give you a few considerations before you ever change States or move or thinking about changing professions or something like that just based on salary alone so let's get started first of all I want to talk a little bit about averages but before I do I want to tell you a quote that I love by man named Zig Ziglar he's passed away now but he was a motivational speaker and he said that money won't make you happy but everybody wants to find out for themselves and that is so true because we all kind of have this feeling that if we just had X amount of money it would make us happier but the truth of the matter is there's a lot of people who are absolutely poor in the world and they're happy there's a lot of people very very wealthy and yet they're miserable and I just say that because I put out a lot of these healthcare salary videos and I don't ever want to give the impression that you should just choose a profession based on salary alone I mostly just put these out to give you an ID you have the job overview and what you can expect to make if you go into that profession because everybody wants to earn a good living and so hopefully that will help you kind of decide if you're on the fence between a couple of professions and so forth but a far better indicator of what will make you happy is to find a career that you're passionate about something that you have an interest in or something that's just a really good fit for your personality because that is probably going to bring a lot more career satisfaction than just the number alone of salary so let's get started talking about the average of what people make in the United States and so forth when I say average when I talk about the salaries and all these videos you have to keep in mind that the average is just when you take everybody's salary from one profession or whatever you add it all together and then you divide by the number of individuals that you use to get those salary numbers so let's say for example you want to gauge a profession like we'll say it's nursing or something like that and you get three individuals one makes twenty thousand another makes fifty thousand another makes eighty thousand well to average that you add those three numbers together and divide by three and it give you fifty thousand that's the average now it's real easy to get confused about that because some people might make eighty thousand maybe they work in a top paying industry maybe they're at the end of their career and their earning at the top of their game or maybe they live in a state that's densely populated in a big city and so they just pay well in that area well it's real easy to look at that and say well wait a second I don't know about 20,000 or 50,000 that doesn't sound right to me I'll make 80,000 that's what this profession should be well know that average is still 50,000 then on the flip side it's easy to look at maybe you say make $20,000 it's easy to look at these averages and kind of get discouraged really and you'll think man I don't make that much money I must be a loser no no no you're not a loser at all because you might be entry-level or maybe you live in a state with a really low cost of living or something like that you can actually be doing better at twenty thousand and someone making fifty thousand and I want to show you that in just a minute but first of all how much money does the average individual make in the United States well the census.gov website doesn't put out an average per se but they do put out a per capita income now a per capita income is when you take the total income of a population say the United States and then you divide by the number of individuals in that population and I believe they don't take anyone younger than 15 years old when they when they compile that data so it's the total income divided by all the individuals in the population 15 and older and when you do that you get an average per person of thirty thousand five hundred eighteen dollars that's the per capita income so that gives you an idea of what individuals in United States roughly make now let's talk about median household income and this is this is all as of 2014 by the way now the median household income in United States fifty three thousand six hundred fifty-seven now when I say median household what I'm talking about there is the total household income that means that the husband's working a wife's working maybe even a child's working whoever is in that household the average house when you look at a house and you say how much money is that whole house bringing and that's the median right there 50 3657 and I just wanted to throw those numbers out there to give some of you a little bit of perspective because I know that salary numbers can vary widely depending on your experience your industry your profession your state and all that now let's talk about the cost of living because this really throws people off and it can get you if you're not careful especially if you kind of if you're thinking maybe of moving States because you see that another state pays more you you got to do your homework because it you can get tripped up here I just want to use this example okay let's say for example you have an individual living in Myrtle Beach South Carolina I love Myrtle Beach my wife and I go there for vacation every few years and it's a wonderful place but I just picked it randomly but let's say you have an individual making $50,000 then you have an individual in Honolulu Hawaii making $80,000 a year now the average person would probably look at that and let's say you're thinking about moving it's real easy to think wow $50,000 in Myrtle Beach I could move to Hawaii gets beautiful there as well I can make $80,000 a year that that's a no-brainer right wrong see this is where you're going to get tripped up the person in Myrtle Beach is actually better financially than the person in Honolulu Hawaii at those salary figures why all has to do with the cost of living in fact I went to a nifty little calculator on cnn.com and their little money section they have a cost-of-living calculator where you can enter your state and they have some of the more popular cities and you can compare that with another area if you want to make the equivalent of $50,000 in Honolulu Honolulu Hawaii you have to earn ninety two thousand seven hundred and thirteen dollars that's how much you actually have to earn so someone making eighty thousand you're about twelve thousand dollars in the hole compared to if you just stayed in Myrtle Beach now why is that it all has to do with the cost of living si groceries in whole in Hawaii are forty eight percent more than in Myrtle Beach housing 207 five percent more utilities 80% transportation 31 percent more in Health Care's 15 percent more so whenever you think about moving states and and you know I give those salaries statistics and I usually give the top three in the top look the top three in the bottom three highest and lowest paying States you don't want to necessarily rush out and go move just based on salary alone now it can pay to move sometimes and that's absolutely true but it doesn't always pay to move and I'll give you a few things you want to think about if you ever decide to move just based on salary first of all you want to think of state taxes because state taxes are a tricky thing there are I think nine states here that have no direct income tax on wages now a couple of those will tax things like capital gains but no wage tax in these states Alaska Texas Florida Tennessee New Hampshire Wyoming Washington Nevada and South Dakota if you live in one of these states you don't have to pay any kind of income tax to the state like you do on the federal level so let's say for example Myrtle Beach does have a state tax let's say you make a hundred grand in Myrtle Beach well right off the bat I think it's around seven percent or so that's going to take you down to about ninety three thousand right off the bat just because you have to pay that state tax whereas if you made a hundred thousand and say texas or Florida well you get to keep that hundred thousand for the purposes of state income because you don't have to report that to the state next you also want to think about groceries you know that Hawaii example I just gave I've heard that a gallon of milk in Hawaii costs anywhere from about six or seven dollars up to about ten or eleven dollars groceries are just more expensive next you have housing there's a lot of places in the world you can find a very nice house for your family for maybe 100 to 150 thousand and then there's other parts of the in the United States where a similar house may cost you as much as two three four hundred thousand dollars just because real estate is so expensive so housing and that includes real estate property taxes all that next utilities some areas will use pumps for example and they use just mostly electricity other areas we use gas to heat their appliances and so forth and you always want to look what kind of utilities am I going to require in this state or in this area and then transportation and healthcare healthcare is a big one because states do have different tax schemes and different healthcare schemes and so you always want to look at that too so those are some things you want to think about before you ever just up and move because we've had people tweet to us sometimes after I've done one of those salary articles and like oh wow that's a great art that was a great video but now I think I'm going to have to move because I see that someone in another state makes a whole lot more money and like I said it can pay to move but you always want to do your homework and then finally you always want to keep in mind also when looking at these salary figures that in the United States we have a progressive tax scheme so what that means is the more you make the more taxes you're going to have to pay if you made 1 million dollars a year you're probably going to have to pay somewhere like 3 to maybe 400 thousand dollars just in taxes it's automatically going to take you down to about six or seven hundred thousand not including if your state has a tax and all that so they can get kind of complicated but I just wanted to throw that out to give you some things to think about so I hope that gave you some perspective when you keep in mind and watch some of these salary videos thank you so much for watching and have a great day