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Old 01-28-2016, 08:39 AM
 
17 posts, read 12,393 times
Reputation: 21

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I am currently in the military now, and AFTER taxes I make about $1,000 every two week which totals out to be $24,000 annually. I know...chump change. Now, I'll be getting out in 2 months, and moving to Northern Virginia to start a $72,000 /yr job. That's a little bit over #35/hr. In the military I didn't have to pay for health care, or for a place to live so I do know that things will be different. Still, is $72,000 (before taxes) a nice step up or am I still screwed. I know I'll have to continue paying for my car, insurance, added healthcare, and I also will be living in an apartment in SE DC that will run me about $1,300 a month. I am 22 years old, I have no children or other responsibilities. It's only me. Thanks.

P.s. I know I said I'll be living in SE DC, but I'm still debating. I will be working in NOVA, and more than likely spending most of my time in that area as well.
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Old 01-28-2016, 08:43 AM
 
2,185 posts, read 2,647,441 times
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You should be fine. 72k is a really good starting salary for a 22 year old. If car payment is your only debt you should have a good amount of disposable income left after your expenses. Make sure you start putting money into a 401k while you're young.
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Old 01-28-2016, 08:53 AM
 
809 posts, read 1,496,639 times
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You'll be more than fine.
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Old 01-28-2016, 08:55 AM
 
Location: West Hollywood, CA from Arlington, VA
2,770 posts, read 2,688,340 times
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You should be able to easily afford that. Obviously as you know, you could just use VA healthcare if you wanted to save money?


Where specifically in NOVA? Why SE DC?
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Old 01-28-2016, 09:03 AM
 
17 posts, read 12,393 times
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Why SE DC? I really wanted to live in Arlington. I like that area. I was going to take a weekend and drive down to NOVA (Currently stationed at Fort Meade, MD). I know that I'm young, I wouldn't want to use that as an excuse but I want to live in an area that's not too "far out". You know? Downtown Arlington, or Alexandria seemed nice. I had figured I could afford something $1,500-1,700 a month. I had an offer from a family memeber of mine who has a nice apartment for rent, and he'd charge me substancially less that what I had planned. I figured it would be smarter for me to take that to save money.

Thanks for the replies all.
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Old 01-28-2016, 09:08 AM
 
Location: Savannah, GA
650 posts, read 406,883 times
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Saving money always makes sense, but I do hear you on not being too far away from various activities. You could definitely do Arlington/Alexandria on that budget, especially if you didn't mind a roommate. Being close to metro is always good as well. Personally, for me, DC is a bit too loud/congested, while OT Alexandria is a perfect fit. Do also look at taxes, etc. for either area to see what makes more sense.
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Old 01-28-2016, 09:51 AM
 
232 posts, read 293,457 times
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Unless you have a wild spending spree, I don't see any reason why you would not be able to live on that. (Many people do it on much less!).
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Old 01-28-2016, 09:59 AM
 
Location: Virginia
8,106 posts, read 12,654,014 times
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Quote:
Originally Posted by FCNova View Post
You should be fine. 72k is a really good starting salary for a 22 year old. If car payment is your only debt you should have a good amount of disposable income left after your expenses. Make sure you start putting money into a 401k while you're young.
I'd go as far as saying it's an excellent starting salary for a 22 year old.
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Old 01-28-2016, 10:06 AM
 
1,994 posts, read 2,923,896 times
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I don't know where in SE DC your apartment is, but take care that many parts of SE DC are REALLY bad. Like, some of the most dangerous neighborhoods, highest rates of murders and muggings in the ENTIRE COUNTRY. That kind of bad. But then SE DC also includes much of Capitol Hill, where your neighbors would be Senators and Congressmen and while there is some crime it's mostly fine. Make sure you're in the good part of SE!
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Old 01-28-2016, 10:08 AM
 
1,282 posts, read 1,729,472 times
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Northern VA has notoriously bad traffic, how much of a commute can you tolerate?
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