15 ms·
Unfortunately, you're not going to get an exact answer here, because everybody's lifestyle is slightly different. However, you can guess what's going to be the
by trjordan 9y ago
Unfortunately, you're not going to get an exact answer here, because everybody's lifestyle is slightly different. However, you can guess what's going to be the big changes in your budget. I think there will be 4:
1) Your take-home pay will change. Use a calculator for you exact number, but according to [1], a single person will take home about $6,400 / month.
2) Unless you live in Manhattan, your rent will dramatically increase. Like everywhere, there's a huge range. Want to live in Oakland with a roommate and bike to BART? You could probably find $1,500 / month. Want a new construction 2 bedroom downtown or close to Caltrain on the peninsula? $5,000 / month. Houses can easily run $8,000 / month with mortgage + taxes if you can scrape together the $300k down payment. Look around on Zillow and ballpark it.
3) Eating "nice" food out isn't cheap. There's plenty of good, cheap eats, but if you're thinking date night, it's easy to drop $120 for 2 people then go off and order half a dozen $8 beers. The high end is really bad --
there's a bunch of amazing restaurants that are $75 - $100 for 6-8 courses. If you're moving from a small city, these simply don't exist. This might be a shock if you're used to eating at "the best place in town" for a special occasion.
4) Depending on where you are in life, there's a bunch of family-ish things that can really eat up a budget. Dog walkers are $20 / day. Infant day care is $2,000 / month. Getting around is kind of a pain if you don't exclusively live, work, and play in the city, which can be fixed by giving Uber $25 / ride. And unlike other cities, there isn't anything that's remarkably cheap (e.g. when I lived in VA, groceries were like half the price I expected. It was great.)
Ultimately, though, a lot of people make it work. The networking and career attitudes in tech are unmatched (I moved from Boston at age 30), the weather is great, and it turns out that a bunch of my friends who I thought had disappeared had just moved out here and they all hang out.
If you're just in it for the money, it's a close call. Your best bet is to work out here between age 22 and when you have kids, then move somewhere affordable with the $5mil you made during that time. But that's not exactly why I moved here -- I've learned more in the last 2 years than I thought possible, and I've fundamentally altered the arc of my career. I may leave at some point, but I'm glad I moved out here.
[1] https://smartasset.com/taxes/california-paycheck-calculator https://smartasset.com/taxes/california-paycheck-calculator
- JamesBarney 9y agoJudging from this thread, very few people are going to be saving 5 million dollars by the time they retire much less decide to have kids.
- zzalpha 9y agoJust a gut check, here: assuming you have kids at 32, and start working at 22, it'd be a bloody miracle if you made 5 mil gross, let alone after taxes and expenses. That's half a million per year, every year, starting from entry into the industry. Google pays a lot, but it sure as hell doesn't pay that much.
- mnm1 9y ago$5M in 10 years at $120k? Even at $200k it's $2M before tax without living expenses. I don't see how you get to $5M unless you're working at Google etc. and even then it's extremely unlikely. You'd have to save half a million a year. Where is this dream job?
- icedchai 9y agoMaybe he's counting on winning the stock options lottery. Pretty unlikely, based on my experience.
- falcolas 9y agoSlight tangent, but my wife and I hated the weather in the Bay Area. The lack of seasons was disturbing on a subconscious level for someone who grew up with them. OTOH, if you like constant 70-80's with sunshine, you'll probably be fine.