How much do you save annually on $400K TC in Bay Area, for a family with 2 kids?
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
comments
110 - 120K Expenses
110 - 120K Tax
110 - 120K Savings
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.