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Old 08-14-2012, 09:34 AM
 
3 posts, read 26,561 times
Reputation: 11

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Hi I am getting a position which will have a approx. salary of around 100K, the work place will be in NY and I would like to stay either in NJ or Connecticut I have the following questions about this

- Is this salary good enough for living with 2 kids (7 & 2) both school going and a non working spouse
- What areas are recommended for living with kids (safe and good school districts)
- I have no credit history in US right now; how will that impact my immediate expenses like home rent.
- I would like to use transit to get my work so proximity to public transport will be crucial.
- Other than federal taxes & social security what is the approx deductions which need to be done like health. I have no inclination to invest in a 401.

Any help will be appreciated.
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Old 08-14-2012, 11:35 AM
 
220 posts, read 480,665 times
Reputation: 77
Wrong forum, but I grew up in the NJ area (and then in NY), and I think that you'll be okay. You should be able to afford a single-family house in a decent school district. Cost of living is high so you won't be rich, but assuming you're willing to put up with a commute you should certainly be able to afford a reasonable middle-class lifestyle. If your spouse is not working, I assume you won't have childcare costs as the spouse will watch the kids and can do stuff like cook dinner to keep expenses down.

If you have no credit in the US, you might want to see if your employer can cosign your lease for you.
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Old 08-14-2012, 01:13 PM
 
Location: Springfield VA
4,037 posts, read 8,076,339 times
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I've never heard of an employer co-signing a lease but said employer might be willing to sponser or serve as a reference. Most places are flexible with immigrants with no credit versus an American with poor credit.
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Old 08-14-2012, 02:20 PM
 
Location: Portland, OR
8,803 posts, read 7,577,630 times
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I just need to interject how sad it is that Americans are now having to ask if 100,000 is enough to support a family of 4. Anyway, continue...
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Old 08-14-2012, 02:33 PM
 
Location: The Port City is rising.
8,790 posts, read 10,705,766 times
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Quote:
Originally Posted by VTHokieFan View Post
I just need to interject how sad it is that Americans are now having to ask if 100,000 is enough to support a family of 4. Anyway, continue...

based on his handle and his reference to his credit history, he probably is NOT American. Which makes it easier to understand asking the question, esp wrt to greater NY, probably the most expensive metro in the country.
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Old 08-14-2012, 04:19 PM
 
Location: Portland, OR
8,803 posts, read 7,577,630 times
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Quote:
Originally Posted by brooklynborndad View Post
based on his handle and his reference to his credit history, he probably is NOT American. Which makes it easier to understand asking the question, esp wrt to greater NY, probably the most expensive metro in the country.
I'm not calling it out because it's a stupid question, my emphasis is on the $100,000 part. Like "wow, I can't believe things are so expensive we have to ask ourselves if 6 figures is enough to live on."
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Old 08-14-2012, 08:00 PM
 
1,344 posts, read 3,909,632 times
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I wouldn't read into it too much. The NJ/NYC area is one of the higher cost of living areas in the country. Even the difference in COL between NJ and Manhattan is huge.
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Old 08-14-2012, 08:06 PM
 
2,665 posts, read 4,873,047 times
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100k for four people might be tough. Since the OP is asking about both CT and NJ, this needs to be moved to the NYC section.
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Old 08-14-2012, 09:56 PM
 
12,642 posts, read 10,487,316 times
Reputation: 17437
Quote:
Originally Posted by newUS View Post
Hi I am getting a position which will have a approx. salary of around 100K, the work place will be in NY and I would like to stay either in NJ or Connecticut I have the following questions about this

- Is this salary good enough for living with 2 kids (7 & 2) both school going and a non working spouse
- What areas are recommended for living with kids (safe and good school districts)
- I have no credit history in US right now; how will that impact my immediate expenses like home rent.
- I would like to use transit to get my work so proximity to public transport will be crucial.
- Other than federal taxes & social security what is the approx deductions which need to be done like health. I have no inclination to invest in a 401.

Any help will be appreciated.
You'll be fine. I am biased because I am from Cranford, NJ, but I recommend Cranford as a place to live. Union County also has some other great towns and so do Essex and Bergen Counties, but Cranford is perfect for that income. The median income for a Cranford family is around $120,000 a year so you're in that range. It has great schools. Its high school is 13th in the state for public high schools and is known for its programs. It has a great baseball program, as well. Cranford is safe (of course you have your incidents, but a very low crime rate) and beautiful. It's 25 miles from Manhattan and can be accessed by train, car, bus, or ferry easily in under an hour.

Watch for flooding, though. Parts of the town floods bad, as a river runs right through it. But it's one of those towns people don't want to leave

Other wonderful towns include Clark, Maplewood, Scotch Plains, and the Caldwells. All in different areas, mostly similar wealth-wise, and close to the city.
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Old 08-16-2012, 12:34 AM
 
3 posts, read 26,561 times
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Thanks a bunch JerseyGirl415 and others who responded. I do apologise for posting it in the wrong forum though, I thought I did post it in the NJ forum, newbie mistake .
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