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In the Bay Area at least, this is pretty understandable. 40th-percentile income in the Bay Area is $66k [1]. An income-tax estimator puts after-tax pay for a fa
by kcorbitt 7y ago
In the Bay Area at least, this is pretty understandable. 40th-percentile income in the Bay Area is $66k [1]. An income-tax estimator puts after-tax pay for a family of 4 on that salary in California at $55k [2].
I live in the Bay Area, and my family of 4 lives fairly frugally by choice. Even so, we spent more than $55k last year and squeezing even our modest lifestyle into that budget wouldn't have been easy.
[1]: https://statisticalatlas.com/metro-area/California/San-Francisco/Household-Income https://statisticalatlas.com/metro-area/California/San-Franc...
[2]: I put a household income of $65k with a family of 4 (married filing joint) into the tax estimator at https://smartasset.com/taxes/income-taxes#WF5trlFESC https://smartasset.com/taxes/income-taxes#WF5trlFESC
- GuiA 7y agoCongrats on managing to live frugally with a family of 4! Certainly an accomplishment. Out of curiosity, how much of that $64k is housing?
- kcorbitt 7y agoWe spent $33k on rent and utilities! And that's a deal, compared to what many of our neighbors are paying. We live near SF to keep my commute into the city manageable, and there simply isn't cheap housing to be had in the area.