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CA renter.
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March 28, 2008 at 2:11 PM #178147March 28, 2008 at 2:15 PM #177698
Eugene
ParticipantTrue, it’s somewhat easier without a child. They would pay $1500-$2000 more in federal taxes. I insist on $200/month utilities. I’m paying 120-140 just for water and electricity. Unless they lead a spartan lifestyle without TV, Internet, and mobile phones, it would be tough to stay below 200.
20% in MM would be around 80k.
Anyhow, the point is that the “cost of living” in San Diego is around 50k-60k for a couple without children, closer to 70k for a couple with one child. Anything you make in excess of that, you can save. Therefore it’s incredibly easier to save when you make 150k than when you make 80k.
March 28, 2008 at 2:15 PM #178051ParticipantTrue, it’s somewhat easier without a child. They would pay $1500-$2000 more in federal taxes. I insist on $200/month utilities. I’m paying 120-140 just for water and electricity. Unless they lead a spartan lifestyle without TV, Internet, and mobile phones, it would be tough to stay below 200.
20% in MM would be around 80k.
Anyhow, the point is that the “cost of living” in San Diego is around 50k-60k for a couple without children, closer to 70k for a couple with one child. Anything you make in excess of that, you can save. Therefore it’s incredibly easier to save when you make 150k than when you make 80k.
March 28, 2008 at 2:15 PM #178057ParticipantTrue, it’s somewhat easier without a child. They would pay $1500-$2000 more in federal taxes. I insist on $200/month utilities. I’m paying 120-140 just for water and electricity. Unless they lead a spartan lifestyle without TV, Internet, and mobile phones, it would be tough to stay below 200.
20% in MM would be around 80k.
Anyhow, the point is that the “cost of living” in San Diego is around 50k-60k for a couple without children, closer to 70k for a couple with one child. Anything you make in excess of that, you can save. Therefore it’s incredibly easier to save when you make 150k than when you make 80k.
March 28, 2008 at 2:15 PM #178065ParticipantTrue, it’s somewhat easier without a child. They would pay $1500-$2000 more in federal taxes. I insist on $200/month utilities. I’m paying 120-140 just for water and electricity. Unless they lead a spartan lifestyle without TV, Internet, and mobile phones, it would be tough to stay below 200.
20% in MM would be around 80k.
Anyhow, the point is that the “cost of living” in San Diego is around 50k-60k for a couple without children, closer to 70k for a couple with one child. Anything you make in excess of that, you can save. Therefore it’s incredibly easier to save when you make 150k than when you make 80k.
March 28, 2008 at 2:15 PM #178152ParticipantTrue, it’s somewhat easier without a child. They would pay $1500-$2000 more in federal taxes. I insist on $200/month utilities. I’m paying 120-140 just for water and electricity. Unless they lead a spartan lifestyle without TV, Internet, and mobile phones, it would be tough to stay below 200.
20% in MM would be around 80k.
Anyhow, the point is that the “cost of living” in San Diego is around 50k-60k for a couple without children, closer to 70k for a couple with one child. Anything you make in excess of that, you can save. Therefore it’s incredibly easier to save when you make 150k than when you make 80k.
March 28, 2008 at 2:37 PM #177728sdnerd
ParticipantYes, absolutely I agree with you.
A couple making $80k does have to put in a lot more effort to save up for a down payment, no questions. But it is doable in a reasonable time period if they are willing to make some sacrifices. I’ve seen several comments from people saying $80k is just scraping by salary, which is why I commented.
In theory over those 3-5 years they were saving that $60k, their income would hopefully be increasing as well as they gained more experience in whatever field they were starting in.
People are now buying 3/2’s in MM for $300-315k; sure they aren’t the nicest places but $60k will get you into a decent starter home now. And prices keep sliding so… 🙂
March 28, 2008 at 2:37 PM #178082ParticipantYes, absolutely I agree with you.
A couple making $80k does have to put in a lot more effort to save up for a down payment, no questions. But it is doable in a reasonable time period if they are willing to make some sacrifices. I’ve seen several comments from people saying $80k is just scraping by salary, which is why I commented.
In theory over those 3-5 years they were saving that $60k, their income would hopefully be increasing as well as they gained more experience in whatever field they were starting in.
People are now buying 3/2’s in MM for $300-315k; sure they aren’t the nicest places but $60k will get you into a decent starter home now. And prices keep sliding so… 🙂
March 28, 2008 at 2:37 PM #178086ParticipantYes, absolutely I agree with you.
A couple making $80k does have to put in a lot more effort to save up for a down payment, no questions. But it is doable in a reasonable time period if they are willing to make some sacrifices. I’ve seen several comments from people saying $80k is just scraping by salary, which is why I commented.
In theory over those 3-5 years they were saving that $60k, their income would hopefully be increasing as well as they gained more experience in whatever field they were starting in.
People are now buying 3/2’s in MM for $300-315k; sure they aren’t the nicest places but $60k will get you into a decent starter home now. And prices keep sliding so… 🙂
March 28, 2008 at 2:37 PM #178095ParticipantYes, absolutely I agree with you.
A couple making $80k does have to put in a lot more effort to save up for a down payment, no questions. But it is doable in a reasonable time period if they are willing to make some sacrifices. I’ve seen several comments from people saying $80k is just scraping by salary, which is why I commented.
In theory over those 3-5 years they were saving that $60k, their income would hopefully be increasing as well as they gained more experience in whatever field they were starting in.
People are now buying 3/2’s in MM for $300-315k; sure they aren’t the nicest places but $60k will get you into a decent starter home now. And prices keep sliding so… 🙂
March 28, 2008 at 2:37 PM #178183ParticipantYes, absolutely I agree with you.
A couple making $80k does have to put in a lot more effort to save up for a down payment, no questions. But it is doable in a reasonable time period if they are willing to make some sacrifices. I’ve seen several comments from people saying $80k is just scraping by salary, which is why I commented.
In theory over those 3-5 years they were saving that $60k, their income would hopefully be increasing as well as they gained more experience in whatever field they were starting in.
People are now buying 3/2’s in MM for $300-315k; sure they aren’t the nicest places but $60k will get you into a decent starter home now. And prices keep sliding so… 🙂
March 28, 2008 at 3:34 PM #177768JC
ParticipantSeriously, am I just really freaking conservative or shouldn’t the 401k be factored into the necessary monthly expenses??
March 28, 2008 at 3:34 PM #178124ParticipantSeriously, am I just really freaking conservative or shouldn’t the 401k be factored into the necessary monthly expenses??
March 28, 2008 at 3:34 PM #178126ParticipantSeriously, am I just really freaking conservative or shouldn’t the 401k be factored into the necessary monthly expenses??
March 28, 2008 at 3:34 PM #178135ParticipantSeriously, am I just really freaking conservative or shouldn’t the 401k be factored into the necessary monthly expenses??
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