Salary
Average Salary: $35,870
Expected Lifetime Earnings: $1,497,000
Well, you can't make any money if you're unemployed, can you?
Even if you're employed, salaries for news reporters suck. You might make $36,000 a year. If you move up to a larger market, your salary will increase, but that whole moving-up thing is a big "if," given that your job security is nil (source).
Perhaps you've heard of big-name news reporters making six-, seven-, and eight-figure salaries. While there are people in journalism who make this kind of money, there aren't many of them, and the industry will probably be dead and buried before you ever get a shot at the mega-bucks.
In all honesty, it's possible to make a decent living here, but you're going to have to supplement your day job by writing a book every year or two, as well as trying your hand at a slew of other writing gigs. Watch out for that carpal tunnel.