$70,000 a year a decent living in Orlando area?

[volk2k]

Originally Posted by floridamove

Dont think take home amt will be 5k. Know for fact of friend in same pay range 75k. You can make it in Orlando but like some said u must be frugal.

Hey I have a friend that makes $70K and takes home $6K a month!


See how that works?


Now how about you plug in $70K into an actual tax calculator and tell me what you get.


Of course take home pay will differ with health insurance & benefit co-pays/retirement contributions/single vs. married/kids no kids.


Just because your friend doesn't take home $5K doesn't mean that you can make a universal statement like that.


My $5K+ estimate is based on the limited info the OP gave us.... even without deductions/credits, he and his family of four would be in the 15% tax bracket.

[StreetSmarts]

Originally Posted by floridamove

Dont think take home amt will be 5k. Know for fact of friend in same pay range 75k. You can make it in Orlando but like some said u must be frugal.

You'll bring home around 4000

[Arcenal813]

Originally Posted by StreetSmarts

You'll bring home around 4000

This.

[mechgator]

4000 is about right. Don't forget about the medical insurance deductions and retirement plan contributions!

[floridamove]

Agree with streetsmart, after tax 15%, 5% in 401k as most company do match up to 5%, Medicare and health and dental insurance for family. Too technical. Will be less take home per month if you put in flex spending for childcare and medical , but u get all that money back if you use it. Anyways good luck, stay away from high hoa area if you can, more saving in your pocket. I did many cities search when I first arrived here, Oviedo has lower tax and how with good school. Didn't pick that place due to prox of my work and some stuff my kids like to do not avail at school there. I really like Oviedo and lake Mary that's within my price range.

[MiaPro]

for a decent life is plenty. i used to live on East Orlando and you looking around $1000 to $1,500 for rent. Mortgage maybe even lower. All depending where. Decent single house still under the $200K. I have the same salary and i which i could move back to Orlando.

[kyle19125]

Originally Posted by brinkofsunshine

$70k for a family of four? While I'm sure it is doable, I don't think they'd be living particularly well.

Originally Posted by StreetSmarts

Should be ok, but must be frugal.

^ This. Unless you're into boxed Walmart frozen meals/fast food and not a whole lot of entertainment outside of staying at home on your computer/watching TV, it won't be a whole lot to exist on after taxes. 45K take home with 2 adults and 2 kids isn't exactly well off.

[bmw335xi]

Originally Posted by kyle19125

^ This. Unless you're into boxed Walmart frozen meals/fast food and not a whole lot of entertainment outside of staying at home on your computer/watching TV, it won't be a whole lot to exist on after taxes. 45K take home with 2 adults and 2 kids isn't exactly well off.

Frozen boxed dinners are actually more expensive than cooking with fresh ingredients.