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Old 07-23-2018, 02:31 PM
 
58 posts, read 28,403 times
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I want to become a special education teacher and they have a salary of around 50K. How expensive would be new york city in terms of living? I currently live here and I might stay here if I can afford it. Please, I need some info on this.
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Old 07-23-2018, 03:02 PM
 
8,141 posts, read 12,506,027 times
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It's doable with roommates.
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Old 07-23-2018, 03:11 PM
 
Location: Western Washington
7,772 posts, read 7,541,890 times
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You live there and want peoples opinions? The majority of whom don’t understand the economics of NYC?

Odd, but ok.

Simple answer is you will need a roommate situation, but that won’t surprise you and is typical for NYC. You can do it on $50k, but it won’t be luxurious.

More complicated is how long do you plan to stay at the job? The salary scales increase your gross pretty nicely in the first few years. Do you want to live south of 96th, or in one of the boroughs? If you currently live in NY, is your current situation sustainable, or do you need to move?
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Old 07-24-2018, 09:39 AM
 
6,821 posts, read 4,424,078 times
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Where is here? (i am guessing this thread was moved)
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Old 07-24-2018, 09:55 AM
 
Location: Brooklyn, New York
3,231 posts, read 3,475,434 times
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Quote:
Originally Posted by Jdawg8181 View Post
It's doable with roommates.
Or you can live alone if you don't move to Manhattan/close to Manhattan.
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Old 07-24-2018, 10:50 AM
 
Location: Confines of the 101 Precinct
19,117 posts, read 32,666,756 times
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Quote:
Originally Posted by RabihaS View Post
I want to become a special education teacher and they have a salary of around 50K. How expensive would be new york city in terms of living? I currently live here and I might stay here if I can afford it. Please, I need some info on this.
If you drink or smoke cigarettes, you cant afford it
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Old 07-24-2018, 10:58 AM
 
Location: New York, NY
7,548 posts, read 2,688,620 times
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Quote:
Originally Posted by SeventhFloor View Post
If you drink or smoke cigarettes, you cant afford it
Not unless they get ciggies from outside of New York...

Quote:
Originally Posted by Gantz View Post
Or you can live alone if you don't move to Manhattan/close to Manhattan.
On $60,000 it would be doable. On $50,000 it's doable but they would have to find landlords that are flexible with the 40x the rent rule. I've seen places listed for $1425 which is slightly above the 40x the rent threshold, but nothing crazy. The OP's rent shouldn't be higher than $1250 a month, but that's almost impossible to find these days.
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Old 07-24-2018, 11:03 AM
 
Location: NYC
11,818 posts, read 7,695,291 times
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$50k is poorer after taxes than someone making $45k below the next tax bracket.
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Old 07-25-2018, 02:48 PM
 
Location: NY
1,170 posts, read 267,276 times
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Please check out my posts as I have voiced my opinion on this discussion.

Depending on your long term goals.

$50,000 take home you'll get by as a renter with nothing to show for it down the road.
I would suggest doubling up the work load if you have goals towards home ownership otherwise it'll never happen.

The common worker needs to be married , bunk up or live at home.
The prospects of a dual or multiple incomes will help towards savings for a home you can one day call your own.
Renting makes the Landlord rich and keeps the tenant dry. Renting should only be temporary.
Renting should not be the permanent solution unless you are retired, a snowbird,and don't want the responsibility of home
upkeep and maintenance.
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Old 07-25-2018, 04:30 PM
 
Location: The end of the world
314 posts, read 122,944 times
Reputation: 254
It depends on how foolish you are when it comes to renting and owning property. I would go for the property if I had $50,000 coming in.
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