This depends on many factors, most of which I think were explained above.
What do you consider a living? Do you want a huge mansion on the water with maids and butlers or do you just want enough to pay your mortgage on a two-bedroom house and your cable bill? Are you the sole income in your household? Or do you have an 'other half' who also works? Do you have children? Your cost of living is, most likely, not equal to anyone else.
For me, I have no children and am married and my husband brings home most of the money. I've set my goals on what I want my future to be like and from there decide how much I need to make (whether it be as a novelist or working in general) to support that goal.
If you want all the money in the world so that you can buy whatever you want whenever you want regardless of price, you better make sure you're writing a novel a day (not really. That's an exaggeration. But you get my drift.)
If you're like me where there is a second income in the household and don't have children and just want a nice small house I can call my own (with mortgage payments, obviously) and enough to cover bills and not worry about how much I spend on groceries, I can
probably make enough to do that if I work like crazy, and may still need to continue my transcription work.
It also depends on
where you want to live. New York? New Jersey? I don't know cost of living in many other places than where I live (Jersey) but I know it can be ridiculously expensive in NY and not so much other places. That all has to be taken into consideration as well.
Not sure if that helps or makes it worse, but just my two cents on how you can figure out what you need to make
your living.
