3 ms·

"You will never get ahead if you live in SF, period" I like the way you think, but this isn't absolutely true. I live in a high cost of living area (NYC) and I

"You will never get ahead if you live in SF, period" I like the way you think, but this isn't absolutely true. I live in a high cost of living area (NYC) and I manage to invest a large portion of my take home. I find it's easier to control one's spending than it is to control one's income based on location.

tomp 11y ago
Out of curiosity (I live in London but am interested in NY long-term), where approximately do you live, and how moch do you spend for (1) housing, and (2) life (food, groceries, ...)?
- billmalarky 11y ago
  I live in Queens and commute to manhattan like everyone else (very short commute by NYC standards too). I spend roughly $1000 per month on rent and utilities (I have a roommate). The thing about NYC is, the variance in spending is astronomical. If you try to keep up with the Joneses here you are literally competing at the global level of wealth. Luxuries here, like eating out, generally cost more. On the flip side, the median _household_ income in NYC is around $50,000. So it's certainly possible to survive at a much lower cost of living than a traditional "Manhattan" lifestyle assumes. That said, life in NYC is objectively "harder" than anywhere else in the US so far as I've experienced (I imagine it isn't too different from London though tbh). If you want to live in comfort relative to say the midwest, you're gonna pay out the nose for it. Alternatively, you can save tens of thousands of dollars per year by opting for some relatively basic lifestyle changes such as having a roommate, eating at home, and not owning a car. Those 3 tradeoffs alone will max your 401k every year. The consideration for accepting the "harder" lifestyle of NYC, is there are opportunities here that simply don't exist in cozier places to live in the US. That and you live longer due to all the extra walking ;-) NOTE: All of this assumes you are child-free. Having children in NYC is a complete game changer cost wise from what I hear.

tomp 11y ago

Out of curiosity (I live in London but am interested in NY long-term), where approximately do you live, and how moch do you spend for (1) housing, and (2) life (food, groceries, ...)?

billmalarky 11y ago
I live in Queens and commute to manhattan like everyone else (very short commute by NYC standards too). I spend roughly $1000 per month on rent and utilities (I have a roommate). The thing about NYC is, the variance in spending is astronomical. If you try to keep up with the Joneses here you are literally competing at the global level of wealth. Luxuries here, like eating out, generally cost more. On the flip side, the median _household_ income in NYC is around $50,000. So it's certainly possible to survive at a much lower cost of living than a traditional "Manhattan" lifestyle assumes. That said, life in NYC is objectively "harder" than anywhere else in the US so far as I've experienced (I imagine it isn't too different from London though tbh). If you want to live in comfort relative to say the midwest, you're gonna pay out the nose for it. Alternatively, you can save tens of thousands of dollars per year by opting for some relatively basic lifestyle changes such as having a roommate, eating at home, and not owning a car. Those 3 tradeoffs alone will max your 401k every year. The consideration for accepting the "harder" lifestyle of NYC, is there are opportunities here that simply don't exist in cozier places to live in the US. That and you live longer due to all the extra walking ;-) NOTE: All of this assumes you are child-free. Having children in NYC is a complete game changer cost wise from what I hear.