100k - 150k 150k - 200k 200k - 250k 250k - 300k 300k+
320k
Depends on your lifestyle.
Disagree. Even with a fairly conservative spending style, the base living costs are pretty high, assuming you want to live (or rent) in a good school district.
See. That's what I am coming to. Good school district vs sending kids to private school. This is your choice. There are lots of levers to pull and hence hard to tell unless you come up with minimum things you can't compromise on.
420
You mean total (family) TC? 250k TC is around the mark for a comfortable baseline lifestyle with a couple, a kid, 2 cars, a 2 BR rental apartment or townhouse. Remember that after taxes, 250k is around 150k, and rent alone will eat up 40-50k of that a year. That leaves around 8k a month to cover expenses, cars, gas, utilities, insurance (car, home, and life), medical bills, groceries, dining out once a week, kid incidentals, clothes for a family, a few vacations a year for 3 people, and hopefully some savings (aint gonna be saving a ton on that budget). That is a bit tight for 3 people in the Bay Area. You could do it on 150k but you won't be living a modern American middle class lifestyle at that point. At 300k you will be much more comfortable and will be able to save or live in a better town/neighborhood.
Kind of agree with you. I think 250 should be the absolute minimum/worse case.
If you need a nanny, daycare, or 20-40 hour a week household help, scale up accordingly. Renting a single family house, paying for private school, etc. will also all drive this up.
Having recently moved to the Bay Area with 2 kids I’d say > 300k.
Thx. Now, God forbid you lose your job etc, how would you manage? Any other sources of income + fall back plan?
It’s a bit stressful. Fall back is to sell stock holdings to pay my monthly expenses until I find another high paying job.
Housing costs + minimum $2000 per month after taxes and retirement. You cannot pin down housing costs before you buy your home.
225k TC here. After all expenses I save solid 60k every year plus retirement accounts. 1 kid single salary. What are you guys smoking?
Do you have a mortgage?
Ummm... so you are living off of 125k to support 3 people in the Bay Area (around 100k pretax going to savings). Where do you live? Not on the peninsula I assume. What is your rent or mortgage payment? How many cars? Do you go out to restaurants? Shop at Whole Foods? Where you shop for clothes? How about medical expenses? Vacations? I think there is something missing here. Did you buy a house years ago and have a tiny mortgage payment? As I said in my post above, 150k can support a family of three here, but not in a modern American middle class lifestyle. In San Mateo county, 125k is the official poverty line for family of 4.
428,795.13 exactly. It's been scientifically proven. Trust me, I'm a scientist
Ganta!
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