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I would think you could live on that with just the two of you. I know plenty of people living on that or less in Albany, NY where I currently live, and the cost of living in Raliegh is less. We are moving there in a couple months. There is no way that anyone can tell you exactly what will be taken out for taxes because it depends on your deductions and such. I'm sure people could give you a good estimate, but just figure you are giving up about 1/4 to 1/3 for taxes.
One thing you need to also look into is medical insurance. I don't know how the country you are in works, but the US is not a socialized medicine country, so you need to pay for you own medical insurance, if your employer doesn't provide it. Some employers offer it, but you still have to contribute income to it.
I would think you could live on that with just the two of you. I know plenty of people living on that or less in Albany, NY where I currently live, and the cost of living in Raliegh is less. We are moving there in a couple months. There is no way that anyone can tell you exactly what will be taken out for taxes because it depends on your deductions and such. I'm sure people could give you a good estimate, but just figure you are giving up about 1/4 to 1/3 for taxes.
One thing you need to also look into is medical insurance. I don't know how the country you are in works, but the US is not a socialized medicine country, so you need to pay for you own medical insurance, if your employer doesn't provide it. Some employers offer it, but you still have to contribute income to it.
First of all, thank you for your reply!
I'm aware of the needed of medical insurance in US, but, thanks for the tip anyway...
So, the thing is that I don't know how to estimate how much wold I lost in my paycheck for taxes and the point here is just to have an idea.. maybe someone with a similar paycheck could help me to deduce my own values...
Quote:
Originally Posted by mommiewrites
YEs, that would be enough.
My hubby and I lived lived on WAY less for many years.
Nice to know!
Do you how can I calculate my tax deduce for living in Raleigh?
You can figure about 33% of your paycheck will go to taxes. I think that is the average. That does not include any deductions for healthcare or a retirement savings (401k) or anything like that...
Are you coming on a work visa? Can your company help you?
Federal income tax - see the withholding chart. Usually married with the number of people in the household as deductions. Then at the end of the year you calculate your income tax and hopefully the withholding is close.
Social Security - 7.65% I think.
State income tax - around 4 %. Dont know if there is a county income tax where you might be living.
This will give you a good clue as to the normal withholding for income tax.
"living comfortably" can have widely different meanings to people.
Are you coming on a work visa? Can your company help you?
Federal income tax - see the withholding chart. Usually married with the number of people in the household as deductions. Then at the end of the year you calculate your income tax and hopefully the withholding is close.
Social Security - 7.65% I think.
State income tax - around 4 %. Dont know if there is a county income tax where you might be living.
This will give you a good clue as to the normal withholding for income tax.
"living comfortably" can have widely different meanings to people.
That was really helpful!
I'll live/work in Raleigh and I've a work visa.
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