Ive been working as a security engineer in a small city, i make about 60k a year, 70k TC, mostly just getting some experience, and im pretty comfortable. Rent is cheap food is cheap, etc. I was hoping to move to California because thats where a lot of my family has moved to. I got a job offer for 110k, and im seeing jobs in the 100-140k range in san diego/silicon valley areas, which obviously sounds like a lot to me, but i know that taxes are higher and everythings more expensive. How much do you feel you need to earn to be financially comfortable in these areas? Ive got a wife, 2 dogs, and im looking to get a 2 bedroom apartment
I wouldn’t move to Silicon Valley unless you are making at least $200k/person. That’s 400k for you plus your wife. Your dogs don’t have to work ;). You could also try monetizing them on Instagram though.
I disagree — obviously if you want to live in a nice place and be able to save and have a newer car, that’s a reasonable figure, but if OP were to go for a smaller 1bd and have an older car, cook a lot, $110k for 2 is doable — may not be comfortable or up to a Texas standard of living, but I would say there is more upside in terms of opportunity by living in the Bay especially for OP and his wife who is going to graduate school soon
Housing for a 1br plus utilities will be $50k/year easily.
Don’t listen to the people saying you need a ton of money. My first job out of college paid 90k and I was living comfortably with my ex-gf in Mountain View. You’re not going to live a lavish lifestyle of eating at top notch restaurants and driving luxury sports cars, but if you’re smart with your money you can definitely still have a great social life and take some vacations here and there. With 110k however you probably won’t be able to afford a 2 bedroom apartment depending on your current expenses. A 1 bedroom is more realistic.
What year was that? I was fine here in 2008 making < 100k. It’s a whole different world now. My previous apartment in Palo Alto now charges over 2.5x the rent.
2014. Again I was living with my ex so we split all the expenses 50/50. And living with housemates right now is even cheaper. Obviously if you’re living on your own you’ll need a high TC, but I’m perplexed when people live with SO’s or housemates and struggle to save.
I’m making 160k, and I’m really struggling to save any money after paying a $3400 rent + wife’s expenses + 2 cats. Might have to move to a cheaper place to survive
The poverty line for a family in SF is 117k...
San Diego is very different than bay area. Want to be comfortable? Not just scraping by? Need at least 250k in Bay area
‘Comfortable’ is really subjective. But in general, I’d say a combined TC of at least 250k in the Bay Area.
California is a big state. The cost of living varies greatly. We’d need more info on where you want to move to offer any meaningful advice.
2 bedrooms might be harder. However, you can certainly live a decent life in that. I have friends that do that.
SD is cheaper than Bay Area; depends where you live. La Jolla and up is a bit expensive. But totally doable.
Is your wife going to work? Otherwise $110k you will have to reduce your standard of living (smaller apartment, whatever). Keep in mind gas is probably an extra dollar per gallon, taxes are probably higher — groceries probably the same but if your social circle is high earners, they will be inclined to go out and are a bit more cavalier with money
shes still in school but she does it online so thats a pretty fixed cost. I tried plugging into those 'cost of living' adjustment calculators, but those seem to not be very accurate given what ive heard the costs are living in california