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110k with 2 kids renting a house (or even 3 bedroom apartment) in NJ close to NYC - you will be OK but I would not say that comfortable. Does that 110k include housing or vehicle?
I am in similar situation with 2 kids living in UK..My son is 16 years old and is in 11th class and my daughter 5 years in 1st year primary
I am asked if I would like to move to US with pay approx 110k and was suggested that many people live in NJ and commute to NY
Wondering if its worth a move
Please let me know your thoughts
Regards,
Arun
The most expensive cost by far is going to be housing. While that is a decent salary in the sense that most households in NJ don't earn that much, you're still going to have to extend yourself to find housing options that are suitable for your family. It's not that you can't do it, but it is going to take up a hefty chunk of your after tax dollars.
By the time you're done with tax, retirement and health insurance, your take home pay will be about 55k or so. You'll probably end up spending about half of that (e.g. 2k-2.5k/mon) on housing.
Don't do it if your kid is approaching college age. Your child will be an international student and won't be able to pay in state tuition. University schooling in the US is very expensive you are not a US citizen.
Here's my take on it. There's 2 reasons for you to live here as a single person- hang out in NYC or Hoboken and or the beach and blow all your cash and the second is for job prospects. Work a year at your job and start looking for a higher paying job. If your field tops out at 60k and you can do it anywhere, maybe have a few years here, then choose a cheaper place to live.
I've read the responses to "My husband makes approximately $100k and we are struggling." and it seems things might not so bad for my situation, but I would like your opinions nevertheless, my wife is a bit concerned about our future financial situation.
My wife and I will be moving to NJ early next year and I will be making USD 100k/year. (My wife might be able to find a job, but for the moment we're not counting on it.)
We have no kids, we will be renting and we would like to have two cars available (can be small and cheap, doesn't matter as long as they are safe), we have no insurance history (moving from Europe). We expect to pay 2k/month for rent (someplace a 30-60 min commute from Princeton).
HR informed me that US/NJ tax is approximately 30% in total, so we would have 70k net income. Setting apart 24k for rent would leave us 46k/year or 3800/month for all other expenses.
To me, that seemed plenty to live comfortably and own two modest cars, but from reading more and more posts on this forum, I am starting to doubt if we can set money apart to safe?
Any feedback would be greatly appreciated.
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