The great makeup debate: Can 10-Year-Olds wear lipstick?

Is $80,000 a good starting salary?

When you're launching your career, hitting that $80,000 mark right out of the gate might seem like a tall order—but how realistic is it, and is it actually a good starting salary?

The short answer: it depends. For many industries and regions, $80,000 is well above average for an entry-level position. However, according to the Bureau of Labor Statistics, the landscape is shifting. As of 2024, the median annual wage for workers with a bachelor’s degree has crossed the $80,000 threshold. That means if you’ve earned your degree, hitting that number isn’t just a pipe dream—it’s increasingly common.

Compare that to workers with some college but no degree, who earn a median of $53,000, and the value of a completed degree becomes clearer. Fields like tech, finance, engineering, and certain healthcare roles often start salaries at or above $80,000, especially in high-cost urban areas. But in education, social services, or the arts, that figure might take years to reach.

Location plays a big role, a starting $80,000 salary in a low-cost area goes much further than in a city like New York or San Francisco. Likewise, student debt and cost of living can shift what feels “good” from purely financial to deeply personal.

While $80,000 isn’t the norm for every new grad, it’s no longer out of reach for many. With the right education, industry, and location, it’s not just a good starting salary, it’s becoming the new benchmark for degree-holding professionals entering the workforce.

Read more →

What you actually take home on a $70,000 salary

If you earn $70,000 a year, your take-home pay isn’t the full amount—taxes take a chunk out of your paycheck. After federal income tax, Social Security, and Medicare contributions, your annual take-home pay typically comes out to about $56,812. That breaks down to roughly $4,734.33 per month, giving you a clearer picture of what actually lands in your bank account.

The difference comes down to taxation. On a $70,000 salary, your average tax rate is about 18.84%. This means that, overall, just under one-fifth of your income goes toward federal taxes. However, your marginal tax rate is 30%—this is the rate applied to any additional income you earn beyond certain thresholds. This higher rate only applies to the portion of income in that tax bracket, not your entire salary.

For example, the U.S. uses a progressive tax system, so you’re taxed in tiers. Part of your income is taxed at 10%, another part at 12% or 22%, and so on. The 30% rate likely applies to the top portion of your income if you’ve crossed into a higher bracket, though in reality, someone earning $70,000 would typically fall into the 22% marginal bracket. The 30% figure might reflect state taxes, local taxes, or an approximation including deductions and credits.

Still, this gives a solid estimate for budgeting. If you're bringing in $70,000, you can expect to take home just under $57,000 after federal taxes. Keep in mind that your actual tax liability can vary based on filing status, dependents, retirement contributions, and state of residence. Always consider consulting a tax professional to get a more personalized view of your finances.

Read more →

Smart ways to reduce your tax bill in the 40% bracket

If you're earning enough to fall into the 40% tax bracket, you're not alone — and more importantly, there are legal, effective ways to reduce what you owe. With smart planning, you can keep more of your money while still contributing to your future and causes you care about.

One of the most powerful tools at your disposal is your pension. Every pound you contribute to your pension pot reduces your taxable income, and you also receive tax relief at your highest rate. This means the government effectively tops up your contributions — a benefit many overlook.

Another strong option is giving to charity through Gift Aid. While donations won’t eliminate your tax bill, they can significantly reduce it. When you donate through Gift Aid, charities can claim back basic rate tax, and as a higher-rate taxpayer, you can claim the difference between basic and higher rate on your donation as a tax reduction. It's a win-win: support causes you care about and lower your liability.

Many employers also offer salary sacrifice schemes, where you give up part of your salary in exchange for tax-efficient benefits like electric cars, childcare vouchers, or additional pension contributions. Because your salary is reduced, your income tax and National Insurance go down, legally and efficiently.

Of course, tax rules change and personal circumstances vary, so it's wise to speak with a qualified financial advisor to tailor strategies to your life. But the key takeaway is this: being in the 40% tax bracket doesn’t mean you have to pay every penny. With thoughtful planning, you can make the system work for you, not against you.

Read more →