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Old 02-28-2012, 02:57 PM
 
7 posts, read 8,800 times
Reputation: 11

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Potential job in El Segundo paying 115 base with 20% bonus ($130-140k)

Housing requirements
Safe Safe Safe!
3-4 bedrooms
Decent schools
Drive 40-50 min max

Kids are 2-8. We are home bodies with a penchant for doing free stuff so we don't need a ton of discretionary income. Just need to be sure we can pay bills.

Where should I look? Lakewood maybe? Can I do this?!?!
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Old 02-28-2012, 03:04 PM
 
Location: South Bay
7,226 posts, read 22,117,393 times
Reputation: 3626
lakewood is a good option. i'd go with torrance or inland redondo beach if i was in your position.
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Old 02-28-2012, 03:46 PM
 
844 posts, read 2,094,154 times
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You would even have money left over to support me!

How could someone NOT live off $100k+ almost anywhere in the world?
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Old 02-28-2012, 04:51 PM
 
7 posts, read 8,800 times
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Quote:
Originally Posted by Wing Feathers View Post
You would even have money left over to support me!

How could someone NOT live off $100k+ almost anywhere in the world?
I have seen people who say a family of 4 needs to make 200k to live in la. Need to know what I am getting into. Getting on the plane to the interview now!
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Old 02-28-2012, 04:57 PM
 
Location: South Bay
7,226 posts, read 22,117,393 times
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Quote:
Originally Posted by thestanz View Post
I have seen people who say a family of 4 needs to make 200k to live in la. Need to know what I am getting into. Getting on the plane to the interview now!
my wife and i definitely make under $200k, but we live a great life in LA. we just bought a house and my wife is pregnant with our first child. once the baby comes around, we'll most likely be making under $100k/year, but with some savings and fiscal restraint, we shouldn't have to adjust our lifestyles too much. it is expensive to live here, but if you avoid the 'keeping up with the joneses' mentality, it's not so bad.
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Old 02-28-2012, 05:04 PM
 
7 posts, read 8,800 times
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Thanks, any more help with areas to look for housing given the info above would also be appreciated.
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Old 02-28-2012, 09:02 PM
 
Location: SoCal
1,527 posts, read 4,212,796 times
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Quote:
Originally Posted by thestanz View Post
I have seen people who say a family of 4 needs to make 200k to live in la. Need to know what I am getting into. Getting on the plane to the interview now!
Depends on your lifestyle and where you live..

You'll need much more than 200k for a family of 4 if you plan on hittin it up on W.Hollywood every weekend, driving the latest Lexus, eating at fancy restrunts, owning a home in Laguna and vacationing to Avalon twice a year..
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Old 02-28-2012, 09:34 PM
 
362 posts, read 815,205 times
Reputation: 160
Quote:
Originally Posted by Wing Feathers View Post
You would even have money left over to support me!

How could someone NOT live off $100k+ almost anywhere in the world?
Plenty of people in LA cant
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Old 02-28-2012, 11:47 PM
 
4,536 posts, read 10,589,580 times
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Renting is no problem.

Buying will be a problem if you do not have 20% down as you are likely looking at a minimum of $600-700K for a home with your requirements ANYWHERE in South Bay that has good schools.

You can easily afford a very nice home in Lakewood(pay attention to school district you are zoned for) and Long Beach south of Lakewood Bl. But the problem is there are relatively few listings that would meet your size requirement in the areas zoned to Long Beach or Bellflower school districts.

People make wild claims about LA life because they confuse needs and wants. I live in one of the nicest(from my perspective) parts of LA with an amazing nightlife. I drive a luxury sports car that turns heads consistently. I have many things I want. I spend $50-100 on a dinner for myself without blinking. I take trips to Las Vegas whenever I want. I manage to save $1000 cash a month, and more into my 457 plan. Yet I don't make $100K. People are often silly in their needs/wants list. Mortgaging an anchor known as a house is yet another mistake people often make. Decide for yourself whats most important to you. Your income is enough to live well in the South Bay. It may not be enough to mortgage a home there.
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Old 02-29-2012, 09:16 AM
 
Location: South LA
107 posts, read 197,456 times
Reputation: 44
We have four children and make less than $130k/year. Our biggest issue is that my husband is self-employed (and so am I, but I am just beginning my career), so a good 15% of our income goes to federal taxes. That having been said, California bases its taxes on AGI (and a decent amount of my husband's income goes back into his job), and we ended up zeroing out for state taxes thanks to the children. :P

As far as living expenses, we live on the westside in a below-market rental house, and if we ever lose this one, I don't know what we'll do... probably move further out if necessary or get a condo with pool access. The yard that was very important when we first moved here isn't so much so now that our son is older and can just as easily play quietly with legos for hours as go outside and harrass the neighborhood cats... But when he was over a year younger when we moved here, he literally HAD to have outside time. Now I'd be okay with no yard as long as there was access to a pool.

It really depends on what you want. Will you have the equivalent of a "back east" lifestyle (4bedroom, 2 bath, 2500sqft house, 2 relatively new cars, vacations, etc.) on $130k? Probably not. But we have been comfortable and would be even more so if we weren't still paying off student loans and some stupid debt. Go for it!
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