How'd you spend $9k per month salary (after tax), if you're single, want to lead a luxurious life with a car and a good apartment while also saving some money for the future? Please try to break it down per category. Edit: let's make this interesting, student loan up to $40k
After or before tax?
After tax
Assuming this is after tax . 1. Studio =2000 in Redwood City/mountain view (7000 left over) 2. Expenses=1000 (6000 left over ) 3. Don’t get a car You can bank 6000 a month
Easy. 2bed 2 bad luxury apartment in a main SF area like FIDI: 6k 911 carrera S: 2k You have 1k left for food.
I missed the saving money part
Haha, my perception of the bay area was that everybody makes a shit ton of money, everyone's buying sports cars. Surprisingly people live a normal life.
Save for a rainy day.
how? investing? just saving?
Lots of options. My personal choice - dumping my money into low cost index funds
Live in Mountain View or Menlo Park area. Probably can find an apartment for < 3k. Get a car with a monthly payment < 2k (shouldn't be that hard tbh) Spend 500-1000 on food / eating out Spend 500-2000 on entertainment. Range is bigger because idk what kind of person you are. Save the rest?
This seems like the most accurate
forgot car insurance and gas and util, which would be close to 500
Also let us know what job gives you $9k AFTER taxes. That's pretty high.
Data Scientist
That’s roughly 180k TC pre tax right?
You can drive a luxurious Toyota Camry with 9k a month
Do I sense some sarcasm lol? I don't find Camry attractive
Pay off your fucking loan first
Agreed!
Maybe, maybe not. If the loan is low interest it could be better to invest the money. I’d argue though right now we are at a long bull run. I’d personally pay down part of the loan but continue to aggressively dollar cost average across a broad portfolio. If you are young. You could do creative financing to pay the loan off over 3 years with no interest.
If you’re living in SF, do you really need a car? I lived in a Daly City 2bd 1ba apartment for $3200/mo, plus put away $1500 for Roth & 401K, another $1,000 for savings, about $1200 on food/drinks/groceries (let’s be honest you can spend $200-300 per weekend if doing brunch, lunch, drinks, and dinner out), $200ish on gas (I do have a car since I’m not in SF proper), which leaves about $1900 for phone/insurance/utilities/shopping/subscription services etc. And if your social circle is anything like mine, that wasn’t nearly enough to keep up with all the spontaneous global getaway trips they seem to take each month.
I would've loved to live in SF, such a pretty city. Work is in San Jose though, sadly
@bizideas So millennial 😆
Get a decent 1 br apartment and a car. You won’t have much left after taxes
This is after tax