$65,000 a year in Miami (Aventura, Miami Shores: health insurance, crime rate, credit card)

[hurricaneMan1992]

Originally Posted by Wild Style

Well I would apply the NYC method. Find the area you like, find typical rents for that area, multiply the monthly rent by 40. If it is at or below 65,000 then you know you can at least cover rent. That doesn't include bills you currently have etc.

I agree. This would allow for $1625 in rent. You can find a decent 2 br condo, townhouse, or duplex within your radius for that. I would try to keep it a bit lower since most things are relatively expensive here. They key it keep it conservative while you're adapting to the cost of things around here. Do NOT pay $2k as per boxus, since most of that $1150 will go towards groceries and transportation, in particular, car insurance. It would NOT be discretionary spending! Finally, try to live close to where you work (or at least avoid major bottlenecks) unless you know how to deal with long commutes.

[boxus]

Originally Posted by hurricaneMan1992

I agree. This would allow for $1625 in rent. You can find a decent 2 br condo, townhouse, or duplex within your radius for that. I would try to keep it a bit lower since most things are relatively expensive here. They key it keep it conservative while you're adapting to the cost of things around here. Do NOT pay $2k as per boxus, since most of that $1150 will go towards groceries and transportation, in particular, car insurance. It would NOT be discretionary spending! Finally, try to live close to where you work (or at least avoid major bottlenecks) unless you know how to deal with long commutes.

Goodness, I was just putting out a simple financial scenario, not advising him to on how much to pay. The poster actually did not give enough info for any real financial advice other than "can I make it there". That is a simple answer, yes. We are now trying to determine what quality of life the poster can have with that salary.

[boxus]

Originally Posted by himain

I have no idea of what planet youre living on but living on $3500 after taxes a month for three in Miami WILL NOT get you by very well in Miami. You are WAY off base here

No, not way off base, plenty of my employees make that and less and they even live in Brickell. I actually live off of near that with the rest going into investments just fine. I have no debt except rent, how much you think someone needs a month?

In the poster's $3500 scenario, If I am paying $2500 a month for rent, I still would have $1000 left for spending on things like groceries and entertainment.

And many people get by here just fine considering the average wages in Miami are what, $39k a year?

[abotechie]

My main requirements are steady income that allows me to support my family and live modestly yet comfortably. I am happy with the simple life. I don't want to live in a ghetto, I didn't go to college for that. I want my son to have a decent education. I know that Florida schools are pretty low performing overall; however, GreatSchools.org list several highly ranked schools in areas with affordable housing in the 125,000-175,000 range.

[Momma_bear]

Originally Posted by abotechie

What is the contributing factor that increases the expenses so much from 1 to 3. The major costs are the same, housing being the number on. Food I can see being higher; however, I have managed a grocery budget well. I am not expecting to live the Miami rockstar life style. Way I figure it, I could easily afford a lower priced home in an area such as Weston and still manage.

I think the biggest difference is that you need to care about the school system when you have a child. That means you will be living in a higher priced area. Also as a single guy you could rent a 1BR apartment and have plenty of space. With three people you need a bigger place.

In addition, there is very little in the way of mass transit so with a wife and a child two cars is pretty much a necessity in much of the area. There are some places in Miami where you can live without a car.

[Momma_bear]

Originally Posted by boxus

No, not way off base, plenty of my employees make that and less and they even live in Brickell. I actually live off of near that with the rest going into investments just fine. I have no debt except rent, how much you think someone needs a month?

In the poster's $3500 scenario, If I am paying $2500 a month for rent, I still would have $1000 left for spending on things like groceries and entertainment.

And many people get by here just fine considering the average wages in Miami are what, $39k a year?

The issue is not that he cannot make it. The issue is what kind of life he will have. He can put a roof over his head and food on the table but $65K will be tight for three people.

[nycgirl1616]

Originally Posted by himain

NYCgirl-are you working on Miami Beach as well? If so, you don't really need a car and you can live decent on 65K on the beach. You won't be sitting oceanfront (unless you have a couple of roomates or a very desperate landlord) but you won't be living in a shoe either..

I'm not working there now but im looking into it. I will need to bring my car since I'll be working at a hospital and most likely one off the beach. I have read a lot of conflicting info about rn salaries in Miami, 65k seems to be average but whether or not that includes things like night/weekend differential, experienced vs new grad the salary could be higher or lower than that.

I know I won't be living like some doctor friends do on Ocean Dr, but would like a nice safe and fun neighborhood in a clean apartment hopefully with parking.

I don't plan on moving until my bills here are minimal so that the cut in salary won't hurt so bad.

[Momma_bear]

Originally Posted by nycgirl1616

I'm not working there now but im looking into it. I will need to bring my car since I'll be working at a hospital and most likely one off the beach. I have read a lot of conflicting info about rn salaries in Miami, 65k seems to be average but whether or not that includes things like night/weekend differential, experienced vs new grad the salary could be higher or lower than that.

I know I won't be living like some doctor friends do on Ocean Dr, but would like a nice safe and fun neighborhood in a clean apartment hopefully with parking.

I don't plan on moving until my bills here are minimal so that the cut in salary won't hurt so bad.

Health care is a good field. You will be able to get a job.

[nycgirl1616]

Originally Posted by Momma_bear

Health care is a good field. You will be able to get a job.

My goal is to attend grad school in Miami, but I need to work for one year in a particular specialty which could be a challenge finding a position. I'm going to start looking around September for winter positions.

[Edu983]

Originally Posted by abotechie

How far will $65,000 a year go in the Miami area?

98% of Miamians make less than that.