[quote=flu]
Lol How the are you even doing that? [/quote]
flu, you caught me! The correct response should have been 6-8K a month. Towards the end of the year the take home is about 4K/pay, and next month it will be roughly 3K. For the first time this year the 401k was not fully maxed out, to increase take home for other activities. What is ESPP? 🙂 No such luxuries here.
Like I mentioned earlier it is good on paper, but for day to day expenses it is not much. I will be happy to have a 1K monthly expenses, and most months if I don’t watch out the cc bills land almost double. In my situation the deductions are roughly 50% of the salary. One could argue this 50% deduction includes the 401k contributions, which is theoretically mine. However I don’t get to use it when I need it, and also will pay tax on the distributions. (Yeah I can hear some say why not Roth401k – again not everyone gets these options)
The first job after graduation in the 90’s was at 37K in SD, writing about it makes me pause how much things have changed. The pay today may not necessarily be far fetched when adjusted for inflation. (I am sure there is an app for that!) Besides the inflation adjusted pay, I also attribute some of the career success to timing. Being some place at the right time, and jumping at opportunities with eyes closed. I guess youth offered some such luxuries. I don’t believe I was ever at the highest pay scale in any company, but over time definitely moved to the middle of the pack.
Things are a bit different now being a single W2 family. But even with a dual W2 in the past I did not feel rich enough to afford some of the things in San Diego especially housing. I remember when the Bel Etage/Savannah developments were released, I could not compute how it was possible for anyone to maintain the monthly expenses. Thinking back those homes were a steal at 500-800. Eventually moved to a <1500 sqft house inland and happy with the decisions made so far.
IMO moving forward the job market will be different with lot of non-W2 earners, folks starting businesses, young graduates creating their own businesses and not following the traditional 9-5 jobs. I think the current generation values their mobility and sense of presence higher than conforming to tradition. Over the years they will create their own ecosystem to thrive, and define their destiny. Combined with burgeoning global economy I except many from this next generation to blur the borders and start/build global small scale eco-friendly companies. It may not be far fetched when other countries begin to 'complain' about the Americans taking up prized RE in their home country 🙂
