Job offer in LA - recent college graduate - good? (Ross: to rent, insurance)
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i'm sure you can find something for even less, especially if you get inland from the beach a few miles. definitely stay in the south bay though. as long as you stay west of the 405 freeway, you should be totally fine. torrance is also a good option and tends to be cheaper than the cities that have "beach" in their name . good luck!
Manhattan beach/hermosa beach/redondo beach/torrance will have varying options in your price range and are all generally nice areas and close to your job. Understand that what you make up for in lower rent you will pay for in additional gas costs/car insurance costs/car maintenance costs, so it's best to stay close to your job (and better for your peace of mind/sanity).
Looking on craigslist I see numerous properties that are within your budget (that aren't scams) in all of those areas. You should have absolutely no problem finding something.
First time posting here, but a frequent visitor. I am a recent college graduate and have been employed for the past few months in central Texas at a decent engineering firm. Make a great salary, nothing to complain about.
However, I am getting an offer from an engineering company close to Los Angeles for a great engineering position that is very related to what I studied in college (Aeronautical & Mechanical Engineering). Right now, I do some engineering but its only remotely related to my field of study (there is a possibility that after a year I could be more into a technical field). It's good work, and I'm very good at it but its not very technical or challenging and mainly a desk job.
The salary for this new job is around 70k. I know that its probably not a lot in in LA, and cost equivalently its probably less than or equal to my current TX salary. But it's passion that I'm after, not money.
I am a single guy with no outstanding debts or loans and live in an apt with my lease coming to an end soon. I'm also definitely not a big spender on things and tend to save the majority of my paycheck (unlike some of my friends here ). I don't want to live right in the city and don't mind a long commute if I have to live in the "suburbs" of LA. Rent is expensive there, I know!
I'm comfortablewith where I'm at, but this is a really good opportunity for me to get involved in something that is closer to my area of study.
What is your advice? Take it? Could I afford to live there?
If it will give you better experience in your field and you know enough about So California to know if you will like it and be able to adjust, grab it!!!
Yes, rent is very expensive, there are other things also to consider. One, right now you pay no income tax (state) that will change big time and Ca has other taxes higher than Texas, but $70,000 is certainly workable. Just keep your needs simple, do not plan on going bar hopping every weekend and don't expect to be able to put most of your check in the bank.
Good luck,
Nita
PS, you sound like the type of young man I would love to have my 23 year (recent gradate as well) granddaughter to meet. There is just one problem, she is Texas through and through, does live in AR right now and would never survive in So Ca I don't think. LOL
James, you should be able to find a one bedroom apartment for around $1300 a month in a nice enough place, within a 20 minute rush hour drive of your workplace. You will be able to find something in that price range in Torrance, Redondo Beach, El Segundo, Westchester, or Playa del Rey. Another option is to rent a 2bd/2ba house with another person. Your cost will be about the same, or a little less, and you have a larger living space albeit shared.
The reason people get grief on here about their finances is they have unrealistic expectations of what they can or cannot have. For instance, a $70K salary would probably not be enough to purchase even a condo in the South Bay, even if you saved up a hefty downpayment. As you know, in Texas, that would purchase a very nice house, and probably at only 2x salary. People also seem to want the best neighborhoods, with the best schools, and huge yards and blah blah blah.
However, a single person can do just fine and $70K a year is more than enough. Each biweekly paycheck should be around $1600 takehome. Obv it benefits you to rent as cheaply as possible, but lets say rent + utilities +cable(tv, internet) are $1500/mo. Food if you are careful should be around $200/mo(eat home 5 days a week, take your own lunch to work). If you are under 26, car ins will be around $150-200 a mo, savings should be $500/mo, gas will cost about $100/mo if you drive a compact and live close to work. Cell phone bill of $100/mo. Leaves somewhere around $600-800 a month disposable income. Living in a two bedroom apartment with a roommate would reduce your rent from $1500 down to around $900-1000/mo and could easily be used to save faster.
75K is by large not a lot of money out here compared to what you get somewhere else.
And really I'm a native southern californian and I can't really stand the place. I really don't think this place is that great, unless you like the weather of course
Federeal Income Owed (.25 Bracket thanks to Obama) = $17500
California State Income Owed = $7,000
NET INCOME = $45,500
Rent, TV, Utilities, Internet $1500/Month
$1500 X 12 Months = 18,000
NET INCOME AFTER RENT = $27,500
That leaves you with $27,500 which is probably comparable to making 38-40K in Texas.
or 2,291 for food/car/insurance/girlfriends etc a month.
Which I guess you can either get a nice car or live it up and still put at least $500 away each month like John said. Be advised as the economic condition is still very blurry in this state to try and have 6 months of rent reserves stored away.
You are right, traffic is terrible in LA. But I won't mind a commute if it means working in an interesting field. Also gives me more time to listen to the radio! The job is about 10 min south of LAX.
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What kind of rent prices are we looking at here if I live north of LA? $1500-$1600 for a 600sqft apt? Not looking for anything luxurious at all, but am looking to stay in a safe area.
Not sure what you mean "north of LA"? If I were you, given your work location and your personal preferences, I would live in the South Bay area. My personal favorite is south Redondo beach-- it's a really nice & safe area with ocean breezes, rolling hills, beaches, Palos Verdes nearby, and your commute to work won't be too bad. You can get a decent 1 bedroom apartment a little bit inland for around $1300 no problem.
Quote:
I evaluated four offers, and at the time, this position that I have was really involved in engineering. But two months in due to restructuring, it evolved into a different position. It's not like I can't do the job. To me the job is very simple, and that's the problem---it doesn't challenge me. I can go in the morning, do my things without being troubled and come back home 5 times a week. The only benefit of this position is really a financial one, not a career growth one. I would like to be challenged, learn new things, and work in my field.
Thanks for explaining that. If I were you, I would absolutely jump at this opportunity-- assuming you can stand living in LA (which it sounds like you can). If your position changed so you're not accomplishing a whole lot, not only are you not building up your career, you'll end up being the first person to lose your job if your company announces layoffs.
I wish I was in your shoes. Should've studied engineering, instead of accounting.
Federeal Income Owed (.25 Bracket thanks to Obama) = $17500
California State Income Owed = $7,000
NET INCOME = $45,500
Those numbers are way high. You're applying the highest marginal rate to the entire gross income and not allowing for any exemptions or deductions. This persons taxes would be nowhere near that much.
He doesn't really get any deductions. He's young, single, no house, no kids, and a full-time employee not a part-time contractor.
What deductions is he suppose to get?
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. good luck!
). I don't want to live right in the city and don't mind a long commute if I have to live in the "suburbs" of LA. Rent is expensive there, I know!
If I were you, given your work location and your personal preferences, I would live in the South Bay area. My personal favorite is south Redondo beach-- it's a really nice & safe area with ocean breezes, rolling hills, beaches, Palos Verdes nearby, and your commute to work won't be too bad. You can get a decent 1 bedroom apartment a little bit inland for around $1300 no problem.
