NYC: What's your cost breakdown?
What's the breakdown of your CoL per year? TC? What's min TC to be "comfortable" in/out of Manhattan -- getting by without pinching pennies or worrying about next month's rent? #newyork
If you want to live in Manhattan, then you need to figure out how little space you can live in comfortably.
Live in NJ and save more
Don't you have to file taxes for both NY and NJ? Saw a post on Blind saying they had to file twice. Might be mistaken.
I second this. Commuting from Hoboken or Jersey City saves lots of money, if you’re ok with being a bit farther from “the action”
You can easily live in Manhattan at 150k, especially if you're fine sharing an apartment and paying 1500-2k in rent. You'll still have money leftover each month as well, even if you go out for some meals and nights out in the city
It depends a bit where your office is, assuming you don't want to have a long commute, but generally speaking I think 3k/month gets you a decent apt (over 400sq ft in a newer building, might need 3.5k in certain neighborhoods), and increase your budget for food/entertainment by 20% compared to SF. For a single person I feel like 60k total expenditures would be very comfortable. Now calculate your TC requirement based on how much you want to be saving. As you can tell rent is the vast majority of CoL, so cheaping out on a smaller apt cuts the number down fast.
Thank you for the insight. I visited NYC last year and saved a ton of $ by staying in NJ and taking a bus 15 minutes over the bridge into Port Authority. Paid about 25% what I would have staying in a hotel downtown.
That bus ride is a hit or a miss. Live near Grove Street or somewhere near Path.
I live in Hell’s Kitchen and my rent is $2450, I commute to West Village 5x/wk using ViaPass ($250/month) and my good bill is about $150/wk (groceries are much more expensive here)
Single and “living in the city” 200k. With about 2k savings per month taking a couple of economy class vacations per year or one first class vacation. 300k married, no children. 400k married with a toddler or two. Teenage kids? Good fuckin luck for the rest of your ride
200k nets 25k savings a year? Can you break it down a bit? Just getting an idea of what's needed. That's higher than I've heard (120-150), so insight is valuable. What about outside of Manhattan?
Breakdown per month? That’d be too much and too variable. If helps, I earned 200k all cash in NYC a year or two ago and I was able to save 2k per month living by myself in a 3.5k one bed. You could easily get by with 120k. If you have roommates, cook every meal(not sure how you would with roommates) have free food at work or eat at fast food joint and don’t go out every evening, then you should be fine.