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$100k - taxes = ~$65k. Now subtract rent, which in most tech hubs is at least $1500 / month. Now you're left with ~$47k. After the cost of food, transport, and
by iskander 10y ago
$100k - taxes = ~$65k.
Now subtract rent, which in most tech hubs is at least $1500 / month. Now you're left with ~$47k. After the cost of food, transport, and a little travel let's say you still have ~$35k. So each year of working pays for one semester of NYU. Not "the rest of their working lives" but even a generous salary takes a while to chip away at the loans students are currently taking out.
- tropo 10y agoLiving within your means could involve Texas. No, I don't mean Austin. I mean real Texas. Actually, it seems the better deal is Florida. (for example, Palm Bay is an easy commute to companies like Harris) You can eat non-organic food, including beans and rice. Do not travel. Carpool with your spouse. Do not buy furniture. Consider the tax advantage of buying a home and having kids. Your taxes plunge. You can end up paying nothing, even with a 6-figure salary. Kids and houses are way more affordable than you might think.
- x0x0 10y agoSure, you can live in rural tx, but good luck getting a job that pays $100k there. Remote employees can do it, but you're almost certainly not going to get that straight out of university. And this is the first time I've seen someone claim kids net save money =P . That would be, ah, different from the experiences of everyone I know. Also, your calculations ignored interest. Even 5-8% interest on private student loans adds up in a hurry.
- deleted 10y ago[deleted]
- devopsproject 10y agoSo we should tell our kids to work hard and good a good degree so they can get a good job so they can sit in an empty apartment eating organic rice and beans?