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Hello - I have been living and working in NYC for several years and am considering settling down in the boroughs or within 30-40 minutes commute from NYC (including NJ/north NY). I am wondering what the estimated minimum household income would be able to very comfortably support a family of 4 (incl. 2 infants/children), house (appx $400k), cost of living, college tuitions, 1 domestic and 1 international travel a year, 1 or 2 cars (not luxury), 1 or 2 meals out a week. We do not carry any debt but would not want to have to take on above average loans.
Thank you,
Nicole A.
Last edited by Nicole Angela; 11-30-2010 at 08:20 AM..
I would say $250,000 is needed in order to live the "American Dream" responsibly. If you have financial support from family, I would say around $180,000-$200,000.
Thanks for your reply - I haven't chosen a specific area yet but would be working in NYC midtown-downtown area and am considering Brooklyn, NJ, upstate NY with 45 min max commute.
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