tracing back to the source of the chart...
>Cass calls this calculation the Cost-of-Thriving Index. It measures the median male annual salary against four major household expenditures:
> • Housing, defined as the annual rent for a three-bedroom house in the 40th percentile of the local housing market.
> • Health care, defined as the annual premium on a typical family health insurance policy.
> • Transportation, defined as the average cost of owning and operating a car driven 15,000 miles per year.
> • Education, defined as the average cost of tuition, fees, and room and board at a four-year public college.
Why is education being overweight by a factor of several times? The other items are the annual cost of expenses that you incur annually. But education is only incurred 4 years out of the 80 years you're alive. Giving them the same weight as the other items is ridiculously misleading.
>Cass calls this calculation the Cost-of-Thriving Index. It measures the median male annual salary against four major household expenditures:
> • Housing, defined as the annual rent for a three-bedroom house in the 40th percentile of the local housing market.
> • Health care, defined as the annual premium on a typical family health insurance policy.
> • Transportation, defined as the average cost of owning and operating a car driven 15,000 miles per year.
> • Education, defined as the average cost of tuition, fees, and room and board at a four-year public college.
Why is education being overweight by a factor of several times? The other items are the annual cost of expenses that you incur annually. But education is only incurred 4 years out of the 80 years you're alive. Giving them the same weight as the other items is ridiculously misleading.