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Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
Typical nonsense, assuming that New York and San Francisco are the only "major metros"; then saying half the country lives "on the coasts", which while it may be roughly correct - if you mean "coastal states" not "actually in port cities", also assumes that all of "the coasts" is like NY and SF.
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.
It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
This is that Financial Samurai guy again. $1.5M house? Please... I have a 4BR house in a decent suburb in the NYC area and it's worth less than $500,000. Want a train town or nicer school district it'll go up, but under $1M is still pretty easy. Health insurance comes off the pre-tax line, not post, and premiums should be closer to half that at a decent job. Mortgage interest and $10,000 of property tax should be deductible also, no need for standard deduction.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by turf3
Typical nonsense, ...
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; ...
It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
YMMV...
Considering I lived a VERY comfortable left coast middle class life (and raised a family) on <$68k MAX annual single wage earner income AND managed to retire pre-age 50... I would say YMMV...I will stick with VISITING SFO and NYC as frequently as I like (at least 1 weekend / month).
I know many coworkers / retirees who very comfortably live in SF Bay area on under $100k earnings / yr (With home paid for), There are options, but can't say BUYING a home would ever come to my mind . I would buy a commercial building in tax free Reno (for 1/2 the cost of a SFO home), and enjoy PLENTY of cash flow to cover my rent. (SFO or elsewhere)\
Author and readership is totally out of touch.
A Sensational lifestyle comes with a price. Be prepared to pay the 'price-of-admission'!
Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
I agree...if you are in a high cost location such as NYC, SF, LA, Seattle, Boston. In most of America, that's probably closer to low 200's.
Normal liberal gibberish. That means no country in the world has a middle class. Anywhere. Similar to the arbitrary "poverty level" calculation we hear about all the time.
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.
Personally, I don't think you can live a decent life in Bakersfield for $1M a year....but maybe I'm looking at this wrong.
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