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Old 02-10-2014, 01:59 PM
 
231 posts, read 459,627 times
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What is a good salary to live comfortably in Miami. I was having a discussion with some friends recently and it was brought up that one would have to be bringing in an annually salary in the mid $70's to live comfortably in this city.

As a person who already makes that amount, I feel one needs to be at least making 6 figures.

What are you thoughts?
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Old 02-10-2014, 04:16 PM
 
Location: America
6,993 posts, read 17,300,486 times
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sorta out the area you want to live in. Figure out the average rent, then multiply that by 40 and you have your Salary requirement.

You want to live in a place with average rent of 2,000 a month, well you should have at least 80,000 per annum.
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Old 02-10-2014, 07:40 PM
 
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It really depends on your individual circumstances. Is your house paid off, how many children do you have, do you invest wisely, how much debt do you have, are you always at the mall, and do you frequently replace your luxury car.
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Old 02-10-2014, 10:55 PM
 
Location: Pompano Beach, FL
389 posts, read 655,914 times
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Can't speak for Miami, but I'm acquainted with people in Fort Lauderdale who make $100K a year and up and still aren't "comfortable" financially because they've run up big credit-card debt and/or spent their money on flashy cars they can't afford, expensive vacations, Botox treatments, etc., etc., etc. -- they're one missed paycheck or one major expense away from serious financial trouble. I think you'll do quite well on $100K a year, or even a little less, if you are a good money manager, live within your means and build up some savings. One of the keys is avoiding the "keeping up with the Joneses" trap that too many people fall into.
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Old 02-10-2014, 11:04 PM
 
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^^^ "keeping up with the Joneses" is a problem that I see more prevalent in South Florida, especially Miami, than anywhere else. I don't know why but it is what it is and it creates a lot of problems for families.
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Old 02-11-2014, 12:28 AM
 
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$100 million dollars.
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Old 02-11-2014, 08:43 AM
 
Location: Miami, FL
8,087 posts, read 9,773,522 times
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Quote:
Originally Posted by CityScape0322 View Post
What is a good salary to live comfortably in Miami. I was having a discussion with some friends recently and it was brought up that one would have to be bringing in an annually salary in the mid $70's to live comfortably in this city.

As a person who already makes that amount, I feel one needs to be at least making 6 figures.

What are you thoughts?
Depends on where you live and your lifestyle.
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Old 02-11-2014, 09:08 AM
 
231 posts, read 459,627 times
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Well what I'm referring to is someone in they're Mid-late 20's (25-30 years old) whose single living in either Miami Beach, Brickell, or Downtown with no kids.

Drives a modest car ($250~/month), pays rent thats 1400-1500/month.

This is the demographic I'm referring to as this best reflects my life.
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Old 02-11-2014, 10:44 AM
 
Location: America
6,993 posts, read 17,300,486 times
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Quote:
Originally Posted by CityScape0322 View Post
Well what I'm referring to is someone in they're Mid-late 20's (25-30 years old) whose single living in either Miami Beach, Brickell, or Downtown with no kids.

Drives a modest car ($250~/month), pays rent thats 1400-1500/month.

This is the demographic I'm referring to as this best reflects my life.

Cost of Living Calculator: Compare the Cost of Living in Two Cities - CNNMoney
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Old 02-11-2014, 01:09 PM
 
231 posts, read 459,627 times
Reputation: 141
This would be great for comparing Miami for another city, but I already live here.
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