> This calculator does not include retirement savings, emergency saving, etc. It just assumes you'll comfortably live paycheck to paycheck until you die and never save a dime. In our country, you will not be getting $60k/yr post tax from social security. So, this is a stupid calculator unless you plan to never retire or never experience job loss (max payout is $450/week for unemployment in CA), etc.
It doesn't include those things because those aren't the things that are covered by a "living wage". Living wage sounds like something good, but it's literally just enough to cover what's needed. Can you afford housing, childcare, medical care, transportation for work, etc. It's a low bar, not a good target, for a society to try to hit. It means people at that wage shouldn't be going hungry or without shelter, but they won't necessarily be thriving.
Right, and I think we shouldn't even be talking about a fake ass "living" wage when it's so disconnected from what you actually need to reliably "live" in these environments. I don't know who comes up with these terms but it's terrible. It may as well be called, "absolute minimum amount of money to get by without anything ever bad happening or planning for the future at all" wage.