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Old 12-30-2014, 04:02 AM
 
7 posts, read 7,209 times
Reputation: 11

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Hi Friends ,

I had been trying to follow up on this amazing community , i hope you can help me with some questions ,

I am living right now in the middle east , ..moving soon to Sillicon Valley , working in Santa Clara

I've 2 sons ( 5 & 2 yrs old ) & Wife so im responsible for a family of 3 + myself .


We Have pretty much a good life here where i am now , i own my house and i have 2 cars and i can afford my sons school and life expenses and family entertainment ,.etc ..also i can afford all family requirements including gifts and appliances etc.. and finally i save a good part of my salary 50% by end of month .


I wonder what kind of salary should i be getting in SJ in order to have ..almost same quality of life , ..i know its a very vague questions but just guide me , where should i be lookin for ?

Also what about Renting ..i know buying it not an option since prices are getting TOO CRAZY ..need also ur opinion .

What about Taxes ? ..can someone explain it to me ? how can i benefit from all kind of exemptions and governmental support for family ?

Anything else you wanna share with me ?
i am motivated by the career and the exposure i will get in US / CA / SJ ..but i know there will be sacrifices .. need ur feedback ..
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Old 12-30-2014, 08:58 AM
 
Location: Paranoid State
13,044 posts, read 13,863,648 times
Reputation: 15839
Just in round numbers (there is a lot of variation in these):
  • A nice house will run you at least $1 million
  • For 2 new cars (not economy, but not luxurious) figure about $70,000
  • Various living expenses to match your existing lifestyle, figure $100,000 per year
  • Your combined tax burden -- figure about 40% of your gross wage
  • If you prefer private school to public school for your children, plan on anywhere from about $8,000 per year up to $30,000 and more.

Much of your annual salary requirements to match your lifestyle will depend on how much cash you can use right now. If you have enough cash to purchase the house and cars outright without a loan (and hence without monthly payments to repay the loan), you can accept a smaller salary.


Now, many others will say you can exist on much less, and I agree -- but I'm trying to match the lifestyle you currently have.
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Old 12-30-2014, 10:27 AM
 
Location: Pleasanton, CA
2,406 posts, read 6,038,659 times
Reputation: 4251
Quote:
Originally Posted by SportyandMisty View Post
Just in round numbers (there is a lot of variation in these):
  • A nice house will run you at least $1 million
  • For 2 new cars (not economy, but not luxurious) figure about $70,000
  • Various living expenses to match your existing lifestyle, figure $100,000 per year
  • Your combined tax burden -- figure about 40% of your gross wage
  • If you prefer private school to public school for your children, plan on anywhere from about $8,000 per year up to $30,000 and more.

Much of your annual salary requirements to match your lifestyle will depend on how much cash you can use right now. If you have enough cash to purchase the house and cars outright without a loan (and hence without monthly payments to repay the loan), you can accept a smaller salary.


Now, many others will say you can exist on much less, and I agree -- but I'm trying to match the lifestyle you currently have.
I don't agree that you have to spend $1 million to get a nice house. There are plenty of nice neighborhoods throughout the South Bay Where you can spend $700k-800kish and get a nice home. It just may not be in the best school district. If the OP wants private schools, then it's not much of an issue.
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Old 12-30-2014, 12:48 PM
 
134 posts, read 255,061 times
Reputation: 73
Quote:
Originally Posted by mstnghu2 View Post
There are plenty of nice neighborhoods throughout the South Bay Where you can spend $700k-800kish and get a nice home.
Please mention a few. Remember you said nice neighborhoods and nice home.
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Old 12-30-2014, 12:54 PM
 
134 posts, read 255,061 times
Reputation: 73
Quote:
Originally Posted by Wookiee_Dookiee View Post
and finally i save a good part of my salary 50% by end of month .

I wonder what kind of salary should i be getting in SJ in order to have ..almost same quality of life , ..i
If you let us know your monthly savings, we can work backwards and arrive at a salary range. I feel you are having a good life in the middle east. You are unlikely to maintain that lifestyle here in Silicon Valley.
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Old 12-30-2014, 11:15 PM
 
Location: Bay Area
402 posts, read 538,499 times
Reputation: 334
Quote:
Originally Posted by Wookiee_Dookiee View Post
I wonder what kind of salary should i be getting in SJ in order to have ..almost same quality of life , ..i know its a very vague questions but just guide me , where should i be lookin for ?

Also what about Renting ..i know buying it not an option since prices are getting TOO CRAZY ..need also ur opinion .

What about Taxes ? ..can someone explain it to me ? how can i benefit from all kind of exemptions and governmental support for family ?
You can start learning taxes on IRS official web-site Internal Revenue Service . You have two kinds, and as I understand your wife will stay at home. So, you will pay less taxes than people without kids and with working wife. In you case, I think you should make at least $140 000 to live life comfortable, and in that case your taxes will be approximately(!) 25-28% (you can use different calculators on Internet to figure out exact amount). If your salary bigger, than you pay more taxes. Of course we all have different understanding about what is comfort and what is wealth. Many people (software engineers on H1B visa) with two kids and stay-in-home wife make $85-110 000 and they are happy too. Some people make 200 000+, and they still need more money to afford fancy restaurants.

You can lease or get financing for a car/or two cars. It is not too difficult to be financed for a car from a bank even for newcomers without American credit history. My family did it. Or you can buy an affordable car for a cash ($20 000).

What about buying a house even if you have tons of cash with you, I believe it is not an issue for now. You will figure out it later after living here for a while, knowing neighbourhoods better, etc. Renting apartment or townhouse (2 or 3 bedroom) in nice San Jose neighbourhood would be the best option for your family since prices for detached houses renting are very high. You just need to find an apartment inside a good public elementary school district for your elder son.
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Old 12-31-2014, 02:28 AM
 
7 posts, read 7,209 times
Reputation: 11
Hey friends ..you really helped me alot with all your comments ,

OK so roughly i do savings around 3-4K usd in my home country ( after paying all family expenses )
How much should i be getting in US / SV in order to match the same ?

I've seen ppl with 80K and living happy on this forum ..i mean they are surviving in SJ while i can see other with 200Ks and they are asking if they can afford a house ! ...

If you can help me understand what type of expenses i will paying it will be great ( Please add the amount i should be paying for a family of 2 kids , wife and me )

- House Rent ( 2 Bedroom at least ) in a nice neighborhood with good elementary schools
- Family Expenses ( Grocery ) Average
- House Utilities ( Water , Electricity , Garbage , Cable , TV , Internet ..etc )
- Car Insurance ?
- Gas / Car/ month ?
- Kids Sports Training ( Swimming classes , Football , etc..) on average how much per kid per activity
- Mobile Phone Subscription
- Schools Donation ( Is it a must ? ) , any expenses i should be paying in public schools ?
- Average family entertainment and outings per month " I know this is variable but roughly ..how much should i be thinking of "
..
Anything i am missing Please add and put its value ...i so much appreciate your help my friends
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Old 12-31-2014, 07:16 AM
 
7 posts, read 7,209 times
Reputation: 11
Could you kindly help me with the questions above ?
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Old 01-01-2015, 04:24 PM
 
329 posts, read 656,374 times
Reputation: 84
Quote:
Originally Posted by Wookiee_Dookiee View Post
Hey friends ..you really helped me alot with all your comments ,

OK so roughly i do savings around 3-4K usd in my home country ( after paying all family expenses )
How much should i be getting in US / SV in order to match the same ?

I've seen ppl with 80K and living happy on this forum ..i mean they are surviving in SJ while i can see other with 200Ks and they are asking if they can afford a house ! ...

If you can help me understand what type of expenses i will paying it will be great ( Please add the amount i should be paying for a family of 2 kids , wife and me )

- House Rent ( 2 Bedroom at least ) in a nice neighborhood with good elementary schools : $2500-$3000
- Family Expenses ( Grocery ) Average $300-$500
- House Utilities ( Water , Electricity , Garbage , Cable , TV , Internet ..etc ) $200
- Car Insurance ? $100-$150 since you dont have US driving history
- Gas / Car/ month ? $50
- Kids Sports Training ( Swimming classes , Football , etc..) on average how much per kid per activity 50-100/activity/month
- Mobile Phone Subscription 50
- Schools Donation ( Is it a must ? ) , any expenses i should be paying in public schools ? No
- Average family entertainment and outings per month " I know this is variable but roughly ..how much should i be thinking of "
..
Anything i am missing Please add and put its value ...i so much appreciate your help my friends
My response in-line
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Old 01-04-2015, 03:52 AM
 
7 posts, read 7,209 times
Reputation: 11
Thanks alot for you comments ,

May i also get more feedbacks from our community members ?

if you can help me understand what type of expenses i will paying it will be great ( Please add the amount i should be paying for a family of 2 kids , wife and me )

- House Rent ( 2 Bedroom at least ) in a nice neighborhood with good elementary schools
- Family Expenses ( Grocery ) Average
- House Utilities ( Water , Electricity , Garbage , Cable , TV , Internet ..etc )
- Car Insurance ?
- Gas / Car/ month ?
- Kids Sports Training ( Swimming classes , Football , etc..) on average how much per kid per activity
- Mobile Phone Subscription
- Schools Donation ( Is it a must ? ) , any expenses i should be paying in public schools ?
- Average family entertainment and outings per month " I know this is variable but roughly ..how much should i be thinking of "
..
Anything i am missing Please add and put its value ...i so much appreciate your help my friends
Reply With Quote Quick reply to this message
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