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Old 11-01-2017, 10:17 AM
 
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Hello,

I am a new graduate and just received an offer for a position with a 60K base salary, with a 5K sign on bonus. I have the potential to make more. I don't have any debt besides manageable student loans, 35K total. I know the cost of living is high and what not. But for someone single and young, is 60K a comfortable living salary? Thanks!
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Old 11-01-2017, 11:32 AM
 
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You can do it, but I always think $65K is the *magic* number.

My daughter has been living on $55K, in DC (she has roommates). She has no student loan debt, no car payment, nothing. Is she the most frugal person? No. But I wouldn't say she is comfortable. Everyone has different levels of comfort so it will be hard to tell you if you will be comfortable.

I would suggest you get at least one roommate, so you are able to have a little fun and save some money.
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Old 11-01-2017, 12:49 PM
 
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Yep. 60K is totally doable! I would recommend that you live as cheaply as possible until the 35k in debt is paid off. Def get roommates or rent a room in someone's home. If possible, keep total living expenses - rent, water, utilities etc. to no more than 25-30% of your base. Good luck!
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Old 11-05-2017, 02:40 AM
 
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Also depends how close you live to the city of DC. Rents in Arlington and DC are higher than say in Springfiled, Herndon, or Centreville. Falls Church is going to be somewhere between. Of course there is the trade off of night life, which less of in further out suburbs for a younger adult who may be interested in that. If not wanting of roommate(s) or a lot of social interaction, a 60k salary in a further out location is doable.
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Old 11-05-2017, 07:53 AM
 
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Live with roommates and use the savings to pay down your debt. That extra $500 a month you can put towards the loans will be huge.

You will also be able to live in a much more desirable area - even a room in Clarendon will be ~$1000 a month. I don't think living far out is worth it unless you are working out by Dulles and even then roommates are still a good idea.
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