average annual salary 2016 for family of four in los angeles California (Highland: apartment, credit card)

[ETHOMAS1967]

What would the average annual salary in 2016 for a family of four to live comfortably in los Angeles.

[Snort]

$93,407 per year, give or take a few dollars. Are you going to make the kids work too?

[ryanms3030]

We are family of three living comfortably for $80k. Our kid is less than a year. Most people on this forum claim it's not possible for is to survive for less than $150k. We do more than just survive. But home ownership is out of the question unless I want an extreme commute

[Mr_Geek]

Completely/entirely/fully depends on your other debts. Assuming zero debts you could make it work under 6 figures as Ryanms has mentioned. You might not live glamorously or own but it can be done.

If you have debt, then well, good luck.

[ryanms3030]

Originally Posted by Mr_Geek

Completely/entirely/fully depends on your other debts. Assuming zero debts you could make it work under 6 figures as Ryanms has mentioned. You might not live glamorously or own but it can be done.

If you have debt, then well, good luck.

Yes, our only dept is car loan so that is a big factor. If we had student loans, $10k+ on credit cards and other debt like some people it would be a much more difficult situation

[socal88]

When you say Los Angeles, it depends where in Los Angeles you want to live.

You could probably live semi-comfortably on a high five-figure income if you live in a so-so part of the SFV or possibly areas such as Highland Park.

If you want to be in West LA, nicer parts of the Valley or some of the better suburbs, I'd say you definitely want to clear well $100K unless you're ok with putting your family in an older 2-3 bedroom apartment. If you want to live in a house, I'd say you definitely want to be in at least the low 6 figures. All depends on your family's wants and needs.

[Hwnwbrwncw]

Originally Posted by ryanms3030

We are family of three living comfortably for $80k. Our kid is less than a year. Most people on this forum claim it's not possible for is to survive for less than $150k. We do more than just survive. But home ownership is out of the question unless I want an extreme commute

Just want to point out, it is my understanding that only you work? Therefore your wife can take care of the kid and you guys don't have to pay for any child care costs. If both of you worked (hypothetically 40k each) you would probably have to make more to keep the same lifestyle.

Maybe I'm wrong, but I do think that's an advantage you have over a standard dual income family.

[Dunbar42]

You're using the word average in the wrong way here. You're asking for individual opinions on how much money a family needs to live comfortably. That question is impossible to answer without knowing where you intend to live in Los Angeles, what sort of housing you desire, how much debt you have, whether you will be relying on public schools etc.

[jtamay3]

Stats can be looked up. That's a loaded question for city-data. It depends on situation. I make around what ryanmms makes and my wife stays at home with the kids. We don't need to waste money on child care. We also mix in paid activities with free activities like hiking.

[ryanms3030]

Originally Posted by Hwnwbrwncw

Just want to point out, it is my understanding that only you work? Therefore your wife can take care of the kid and you guys don't have to pay for any child care costs. If both of you worked (hypothetically 40k each) you would probably have to make more to keep the same lifestyle.

Maybe I'm wrong, but I do think that's an advantage you have over a standard dual income family.

You are correct. But when my wife worked she made about the same as me. But yes child care is expensive. My coworker is looking around and inexpensive option is around $800/mo or nearly half our rent. I also managed to stay one tax bracket below my earnings by contributing enough to 401k and with extra deductions for kid everything is working out so far. Basically with only me working we get to raise our own kid and keep more of our money and give less to the government so it's a win win. Now I just need to get to this point:

Never Pay Taxes Again - Go Curry Cracker!Go Curry Cracker!