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Old 05-20-2016, 09:01 AM
 
41 posts, read 54,684 times
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I'm considering a job in Marina del Rey with a salary around 120k. Currently live in New England.

I realize 120k doesn't go very far in the Westside but I'm a single guy with simple needs. Would it be possible for me to swing a decent life in a studio/1bed or would I be spreading myself too thin?
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Old 05-20-2016, 09:19 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,373,600 times
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Many make it on much less than $120k living on the westside and single.
I guess it depends on your definition of a decent life though.
You said simple needs though, so I'm guessing you aren't wanting to drive a Tesla and getting bottle service every weekend.
You have a good opportunity to save money if you are going to make $120k and put it towards a downpayment, your own business or the stock market.
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Old 05-20-2016, 09:25 AM
 
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Thanks for the response. After some cursory research it seems I should expect to pay about 1800 a month for a 1 bed in the area. That's a pretty hefty chunk of change so I was wondering if it was even worth it. After taxes, rent, and transport expenses it doesn't seem like 120k would allow me to save very much.
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Old 05-20-2016, 09:32 AM
 
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You can easily find a nice place in Westwood or Beverly Hills. I'd buy a condo over rent since priced will never stop increasing. Look at Manhattan and San Francisco's crazy rents, were headed that directon.
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Old 05-20-2016, 09:35 AM
 
Location: Los Angeles (Native)
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Quote:
Originally Posted by thelastjohn View Post
Thanks for the response. After some cursory research it seems I should expect to pay about 1800 a month for a 1 bed in the area. That's a pretty hefty chunk of change so I was wondering if it was even worth it. After taxes, rent, and transport expenses it doesn't seem like 120k would allow me to save very much.

Yeah I guess you will have to decide. Rent in L.A, especially on westside isn't cheap of course..I thought New England is pretty expensive too though in terms of housing?
Would you be able to get a similar paying position in a less expensive city?
If so , there could be sort of an 'opportunity cost'' by moving to L.A
If you're goal is to save money, then L.A might not be a good choice. There are certain fixed costs like housing especially which are pretty high.
Our gas prices are higher than other places too and sales tax is 9% .
If you aren't commuting far though then gas isn't going to be a big deal really.

I think one thing about L.A is that it's easy to spend money because there are a lot of temptations to spend it on. Food , bars , concerts,etc..which you might not have in other cities.
On the other hand there are lots of free events or cheaper events you can attend too because there are so many ,artist, musicians, comedians,etc here.
There is also the outdoor activities that can be free to enjoy too, like the beaches, hiking,etc. which you can't find everywhere.
Just having a good paying job, might not be enough of a reason to move to L.A .
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Old 05-20-2016, 09:51 AM
 
41 posts, read 54,684 times
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New England isn't cheap but it's still nowhere near LA in terms of housing costs unless you are right next to NYC.

I'm in my early 30s and not prone to spending wads of cash for clubs and drinks. The main draw of LA for me are the cinemas and arts scene as I'm a big film buff.
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Old 05-20-2016, 10:53 AM
 
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Boston is pretty crazy though too for housing.
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Old 05-20-2016, 10:55 AM
 
Location: TOVCCA
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Hope you have factored in having a car, as you will want/need one.
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Old 05-20-2016, 02:22 PM
 
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$120K is plenty of money for a single person. Also, I'd think on that salary, you could pay more than $1,800/month on rent especially since it sounds like you aren't the type to blow money at bars, etc. Especially if you want to live on the west side by work, you're going to need to pay more than that for a decent place.
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Old 05-20-2016, 02:48 PM
 
Location: Los Angeles
4,488 posts, read 3,906,679 times
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Since you aren't necessarily interested in living by the beach, you could move a bit inland and save a little on rent. Mar Vista & Culver City are a "little" cheaper than MDR or the other beach cities. Just a thought.
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