Spending 20k a month

Apple / Eng
costly bay

Go to company page Apple Eng

costly bay
7d 203 Comments

Spending 20k a month in this crazy expensive Bay Area. This is 80% of our after tax household income with 2 kids. Is this too much? How are others feeling? Saving only 20% income sucks.

Major expenses
Mortgage - 7k
Kids daycare - 4K
Cars - 2.5k
Food/Grocery-2k

TC family 650k -> me 450 + wife 200

comments

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TOP 203 Comments
  • Send to public school. Also what's the TC
    7d 14
    • New
      xMicrosoft

      New

      xMicrosoft
      Wealth disparity is just a talking point. Poor, rural schools often do better academically than equivalent or better funded urban schools. The NCES did a study on this.

      Those urban schools are suffering from corruption and misguided priorities.
      6d
    • Blend
      Layoffs 🐀

      Go to company page Blend

      Layoffs 🐀
      I’m from the Bay, public schools are fine. People that insist on private schools are the pearl clutching type.
      5d
  • Amazon
    candyappl

    Go to company page Amazon

    candyappl
    How the heck does a family of 4 spend 2K a month on groceries?
    7d 23
    • I spend 1.2-1.5k a month on grocery. just food for two, we don't buy red meat and almost don't buy seafood. I buy things from Fresh and an Asian online store, nothing fancy. we do eat a lot of fruits and snacks though. Cutting those down maybe can make it 1k, but not 500
      7d
    • Apple
      420_69

      Go to company page Apple

      420_69
      Then literally don’t buy extra stuff. I spend 300/month in groceries and still eat super healthy
      6d
  • New
    EDyi44

    New

    EDyi44
    We're also spending close to that these days.
    Mortgage is 8700, prop taxes 3000
    Daycare 2200, nanny/babysitter 1500
    Groceries 2000
    Utilities 1000 including laundry, gardener etc

    Shopping, travel etc adds up to another 2-3k / month.

    My cash comp is ~400k and spouses is 250k. I'm at a startup that may or may not IPO, so not counting equity.

    Luckily we have roughly $10M saved from previous jobs, IPOs etc, so we spend pretty much everything we earn (minus 401k) and assume that unless my company gets acquired or IPOs we are not saving anything more.
    7d 9
    • New
      EDyi44

      New

      EDyi44
      I made about $3M pre tax from the IPO. Grant TC was about $750k. I didn't stay for the full vest due to some changes at the company post IPO.
      I left the IPOed company and went to Google a year later and my peak TC was actually at Google, thanks for the stock run up in the last few years and thanks to a lucky start time / generous initial grant.
      I found Google to be very slow and political, especially at L7/L8 and decided to jump. I left about $2M unvested GSUs when I left, but got lucky (again) with my jump to the startup, both because of a strong initial offer and because we have been doing really well since then. So, even in event we don't do that well, my equity will be worth a multiple of the GSUs I left behind.
      5d
    • Google
      !blind!

      Go to company page Google

      !blind!
      Thanks for sharing. Great calls to move to the right place at the right time :-)
      5d
  • New
    vsKq82

    New

    vsKq82
    2.5k on cars? That’s stupid. You are investing 2.5 every single month into a depreciating asset. Sell your cars, get a toyota for cash and be done with it.
    7d 4
    • Amazon
      candyappl

      Go to company page Amazon

      candyappl
      I guess those are what non-motorheads consider amazing cars, lol?

      I just assumed OP had a pair of stupid Teslas.
      7d
    • New
      vsKq82

      New

      vsKq82
      No that’s what a 40 year old guy with a family and big ass mortgage considers amazing cars.
      7d
  • We may have similar expenses. 2 kids school $4,500, mortgage $11k, utility $350, food $2,000
    7d 10