How much do you save annually on $400K TC in Bay Area, for a family with 2 kids?

Amazon
mCzh10

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mCzh10
Mar 20 35 Comments

The title says it all.

Considering moving to the Bay Area. Let's ignore my wife's income, and I spend reasonably to have a comfortable life, no needs for luxury lifestyle, no showing off, no expensive cars.

Right now I'm saving ~$80K annually. I want to know if earning more in a more expensive location would result in saving more. I'd move if I can save double than that.

Blind tax: $300K TC.

#financial #sde #bayarea #saving

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TOP 35 Comments
  • It seems blind is an exaggeration platform. With my 350K TC, split is something like this
    110 - 120K Expenses
    110 - 120K Tax
    110 - 120K Savings
    Mar 21 10
  • Very much can live a decent life except:

    1. Will you be renting? Seems like there have been decent options around 4K.

    2. Do you send your kids to daycare/preschool? That’s a biggie. Potentially another 4-5k probably more with 2 kids in the equation.

    So with a frugal lifestyle and 2. as active not much. Might have to even forgo your 401k I think.

    Once kids start going to primary school you might buy some additional room with money from 2. For 401k, education plan.
    Mar 20 6
  • Yelp
    bgfjfsag

    Go to company page Yelp

    bgfjfsag
    Not much
    Mar 20 0
  • With that household TC in bay area, you’ll have to survive on ancestral money
    Mar 20 2
  • Yelp
    pseudoabc

    Go to company page Yelp

    pseudoabc
    You won’t earn more in the Bay Area compared to Seattle. Both are similar tiers for TC. You will save on state taxes though in Seattle so will probably save more there.
    Mar 20 0