Is $170K really not enough?

[mysticaltyger]

Originally Posted by savannah11

My husband and I, along with our 9 month old baby, are relocating from Houston to Huntington Beach next month. Together we will be making a combined $170K. It frightens me when I read on here that some people make this amount of money and still struggle to get by. Is it really not enough?

Let me say that we have no illusions of owning a home. I don't live by the philosophy that renting = bad, buying = good. We are renting here in Houston and while home ownership would be nice some day, I'm in no real hurry. We also do not have the expectation of settling in OC forever. I told my husband we'll give it a two year trial period. I know we'll be paying around $2500 to rent and $1000 in daycare but that is a manageable amount for us. What other costs are there that could make us struggle?

Personally, I would not want to have both parents work with a young child, too "rat race" for me...but since you and your husband agree day car is ok, I think you should be fine on 170K.

I think a lot of the problems come in when people don't have realistic expectations. They expect to have as much indoor and outdoor living space as where they came from and that is just not realistic at all.

I live in the San Jose (another expensive CA city comparable to OC) and I make only 50K a year, yet I manage to save 1/4 to 1/3 of my salary.

So it's all about being flexible and having the right attitude about things.

[Coldjensens]

You will have no problem on that income.

Stay out of the beach cities and away from trendy South OC cities and housing is more affordable. Look at: Tustin, Anaheim Hills, Fullerton, Santa Ana's nicer neighborhoods (especially Floral Park), Yorba Linda, Placentia, Brea, Buena Park, etc. You can avoid costly private schools by finding places with good magnet and/or charter schools (they are everywhere).

Do not fall into the trap of believing that you must have fancy new cars and name brand clothing or every electric gizmo known to man. Realize that a 54" television brings no greater viewing pleasure than a 36" set (just sit a bit closer). You do not need to eat anywhere that costs more than $20 a person.
Lots of entertaining things to do are free or nearly free (i.e. beaches, mountains, desert).

[Seabreeze2008]

IF I make 170K I would definately enjoy living in OC without any questions