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Most private sector jobs paying that much are located in Manhattan. Commuting into Manhattan everyday from Long Island on the LIRR is HELL! No, thanks! Talk about a grind. Plus, a monthly LIRR pass is a small rent payment in its own right. Higher income taxes, lirr fares, obscene property taxes, LONG commutes all mean tired, frazzled parents with no time on their hands. Give me my beautiful lower cost Pennsylvania town home that is all paid off, which is next to several isolated state parks that I can go skiing or fishing in on the weekends. It's not just the property taxes, it is the whole package that made Long Island feel like being trapped in a rat wheel.
Can't agree more on the NYC commute and the boat-load of LI-related gripes... but Pennsylvania? Besides the Poconos, which are a whole other dog with fleas, what are we talking Phillie? High crime, dumpy Phillie with craptastic Memorial Stadium. Heavy traffic and lower salaries.
Wow that sounds great till you realize that saving a few grand in property taxes each year down South only sounds good till you realize you have to take a 200K a year paycut
I doubt most of us griping about LI would be facing a $200k pay cut.
In my line of work, a funny thing happened over the last 10 years. THe compensation for my skillset rose in many areas outside of the northeast. Sure, it's still tough landng the big bucks elsewhere, but it's more possible today than ever before.
And in my case, that annual property tax savings will be more like $13-15k. Multiply that by 10 years and you have yourself a nice nestegg going on.
But can we keep this on the QT? I'm hoping to find a buyer for my way overtaxed abode.
Location: Prince Georges County, MD (formerly Long Island, NY)
1,558 posts, read 2,725,395 times
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Quote:
Originally Posted by mowmylawn
I doubt most of us griping about LI would be facing a $200k pay cut.
In my line of work, a funny thing happened over the last 10 years. THe compensation for my skillset rose in many areas outside of the northeast. Sure, it's still tough landng the big bucks elsewhere, but it's more possible today than ever before.
And in my case, that annual property tax savings will be more like $13-15k. Multiply that by 10 years and you have yourself a nice nestegg going on.
But can we keep this on the QT? I'm hoping to find a buyer for my way overtaxed abode.
Right, it goes by your field. In my line of work, there isn't really a NYC premium when it comes to salaries.
Then there's others who manage to transfer with their jobs and keep their salaries. I secretly envy them.
But, yeah, I'm already seeing this thread degenerate into the typical generalizations.
I doubt most of us griping about LI would be facing a $200k pay cut.
In my line of work, a funny thing happened over the last 10 years. THe compensation for my skillset rose in many areas outside of the northeast. Sure, it's still tough landng the big bucks elsewhere, but it's more possible today than ever before.
And in my case, that annual property tax savings will be more like $13-15k. Multiply that by 10 years and you have yourself a nice nestegg going on.
But can we keep this on the QT? I'm hoping to find a buyer for my way overtaxed abode.
My total tax bill is $14,000 in a Nassau village and I'm probably near Sandy Jet's pay range. How much house did you buy?
And my commute via LIRR is 55 minutes door to door. My former colleague who moved to Delaware 8 years ago has a 35 minute commute. I used to work 2 miles from home and what I've found is that I stayed later at work because my commute was short.
It all evens out folks. Move where it makes you happy and quit disparaging other people's choices.
Most private sector jobs paying that much are located in Manhattan. Commuting into Manhattan everyday from Long Island on the LIRR is HELL! No, thanks! Talk about a grind. Plus, a monthly LIRR pass is a small rent payment in its own right. Higher income taxes, lirr fares, obscene property taxes, LONG commutes all mean tired, frazzled parents with no time on their hands. Give me my beautiful lower cost Pennsylvania town home that is all paid off, which is next to several isolated state parks that I can go skiing or fishing in on the weekends. It's not just the property taxes, it is the whole package that made Long Island feel like being trapped in a rat wheel.
But you will suffer in retirement and your kids will suffer in college and afterwards.
I max out my 401k, max out 529, am maxed out on SS match, throw my Bonus into Market every year. I grieve my taxes every year on house and use employers pays part of train ticket and use tax breaks for a lot of other parts.
My Neice moved to Pa after college with her husband and they are in their mid 20s and already Dead. Why, there are no careers in PA only jobs. And every year that goes by their salary drops in comparision to LI and home price does not keep up.
Quality of life is better in PA but finanically bad choice.
My total tax bill is $14,000 in a Nassau village and I'm probably near Sandy Jet's pay range. How much house did you buy?
And my commute via LIRR is 55 minutes door to door. My former colleague who moved to Delaware 8 years ago has a 35 minute commute. I used to work 2 miles from home and what I've found is that I stayed later at work because my commute was short.
It all evens out folks. Move where it makes you happy and quit disparaging other people's choices.
I know plenty of middle management and upper middle management in consulting and wall street pulling down 300 to 500K a year. They have stay at home spouses, kids in school districts and yes they commute to city. Moving to PA is not an option as those jobs pay 100-125k.
Even the bagels and pizza aren't as good as they used to be... Sure, Grimaldis, Emilios and a short list of some great pizza still exist, by and large the average pizza is not very good.
But you will suffer in retirement and your kids will suffer in college and afterwards.
I max out my 401k, max out 529, am maxed out on SS match, throw my Bonus into Market every year. I grieve my taxes every year on house and use employers pays part of train ticket and use tax breaks for a lot of other parts.
How will I suffer in retirement? Since I am saving 10,000 in property taxes, I can plow some of that left over money right into my retirement account. On Long Island I didn't have that option because I was not only scraping by to fund my retirement, but I was being forced to fund the early and lavish retirements of well-connected public sector workers. That train ticket that your employer helps subsidize also always goes up because again you are helping fund the retirements and disability schemes of other people. And with employers there is never a free lunch. That extra subsidy is going to be made up in some other way whether it is greater stress, work load, or time at the office.
Sadly on LI wages are weak. NYC drives up averages. School and Police wages drive up averages. Years ago the exorbitant costs were easily offset by the fact that you could not get comparable work elsewhere and between NYC and LI there were an abundance of stable jobs with benefits. Now, thanks to LI eating itself, the internet, shifts in manufacturing demographics, etc, those jobs and wages ARE available elsewhere. The pointless "ha I moved and LI sucks so nyahh nyahh nyahh poopie pants" posts aside, the bottom line is moving can be great...IF YOU HAVE THE INCOME (retirement, a J.O.B., etc). My wife and I may find work to match in other cities with lower overall costs, but it would be a substantial risk against what we have now. We just aren't THAT miserable, have lots of friends, good jobs and a semblance of stability....plus we wouldn't draw enough equity out of the house to buy without another mortgage (or we'd rent which is no biggie to me but very foreign for wifey). If one of us lost our job, I'd (with a capital I because she'd resist) seriously push to move elsewhere. Fact is, longer we wait, more the playing field seems to tip back. We've been to PA. Glad you like it. Anything too far out of Philly makes us gag and anything close is comparable to NYC. The two families we were friends with who moved to semi-rural PA have both since divorced. My other friend has been through 4 jobs in 6 years in the Lancaster area and she was an exec. in Manhattan. Maybe it's a coincidence. maybe a bad move for their family(s). VA? Not crazy about it. Traffic and costs will be akin to LI in 5..4..3...2...1.. ooops, too late, already there. FLA? Again, jobs and pay would be essential. The happy friends who moved there had 6 figure jobs waiting (one from a friend, the other to continue working from home in Pharma sales...her husband was out of work for a year down there). Austin? Can you say insane housing bubble and classrooms in trailers (and I lived and loved it there 15 years ago)? Yup, ups and downs all over. Anyone from NY understands the premium to pay to live here. That has always been true. The anger now is the value. LI seems to be in decline and NYC booming. LI seems to gain the increased costs without any of the "boom." For myself, it's less that I hate LI than I just know in my heart I'm getting screwed by entrenched forces that too many sheep just seem to roll over and accept at every turn, whether they have skin in it, are too busy, oblivious, have no better option, are just plain stupid, whatever, I don't know. That is the frustrating part. When I search jobs at my pay and skill set, NOTHING from LI comes up. All NYC or out of state. That's tangible. That's REAL. But then, we're paying the bills, putting a little bit away (mostly 401k), the schools are great, the kids are happy, our friends are in the same boat. Life is generally good. Hard, but good. I'm sure I could relocate tomorrow. Sell the house and rent. Uproot my family. Get a job fast at similar pay (but prob more hours since I'd have to prove myself all over). My mortgage would be the same. Taxes a little lower. Benefits prob not as good. Wife miserable and would take a sizable cut in pay IF she could find work (she would need to switch industries altogether). Is it worth it? Not right now. Not for me.
When I go it will be mostly for one thing. Not taxes, pizza, bagels, beaches, etc. The weather. I hate the winter.
I know plenty of middle management and upper middle management in consulting and wall street pulling down 300 to 500K a year. They have stay at home spouses, kids in school districts and yes they commute to city. Moving to PA is not an option as those jobs pay 100-125k.
Exactly - if you can find those jobs elsewhere.
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