4 ms·

If you have more left over than the median household income sees in a month, while living in the most expensive city in the nation, I think that's more than liv

If you have more left over than the median household income sees in a month, while living in the most expensive city in the nation, I think that's more than liveable.

rconti 7y ago
And you're still not able to save more than $114k a year! :)
- tempsy 7y ago
  I didn't add personal travel costs, misc shopping, gym membership. Again, if you bought an average house then your left over goes to maybe $3K/month (without account for less regular costs above).
  - pb7 7y ago
    You’re using some pretty aggressive housing numbers but conveniently omitting the part where you’re dumping most of that money into the equity of your million+ dollar home so that if and when you want to quit the rat race, you still have massive assets to take with you.
    - tempsy 7y ago
      Real estate prices in places like SF or LA have plateaued a bit for a few years now, so yes while you're increasing your equity in your home it's not clear anymore where housing prices are headed at this point.
      - pb7 7y ago
        Even if your home value doesn't increase whatsoever, you are still progressing dumping a higher and higher percentage of your monthly housing-related payments into the equity (payments are interest-heavy early on, shifting to principal-heavy later on). In 15-30 years, you have a paid off house that's worth what you bought it for which can be millions. Or you can leave in a handful of years and take the 100,000s of equity with you that will buy you house in cash in most of the country. Either way, you're hardly worse off.
        tempsy 7y ago
        In the first few years you're converting a small percentage of that $8K payment into equity...most of it goes to interest, insurance, HOA, property taxes, etc. With the SALT restrictions you can't write off more than $10K in state taxes now either, which means basically $0 off your property taxes since that your income tax alone in CA will be more than that.
  - SolaceQuantum 7y ago
    Living in the most expensive city in the nation, with a house, with 3k/month completely un-budgeted for still seems like a high amount...
    - tempsy 7y ago
      It's hard to say what is high or low anymore. Personally most "wage workers" aren't in a great state in the US. Is it "normal" for workers to be able to barely save anything while getting into six figure student debt for a college degree? I would say no. But saving $30k-$40k a year isn't going to cut it if you want a child or save for a downpayment.
      - SolaceQuantum 7y ago
        A downpayment in the most exepensive place to live in the nation, but of course, given the massive income inequality in america! I'm super confused here. EDIT: How is 30-40k/year not enough for a child unless the child is special needs with bad healthcare?

If you have more left over than the median household income sees in a month, while living in the most expensive city in the nation, I think that's more than liveable.

rconti 7y ago

And you're still not able to save more than $114k a year! :)

tempsy 7y ago
I didn't add personal travel costs, misc shopping, gym membership. Again, if you bought an average house then your left over goes to maybe $3K/month (without account for less regular costs above).
- pb7 7y ago
  You’re using some pretty aggressive housing numbers but conveniently omitting the part where you’re dumping most of that money into the equity of your million+ dollar home so that if and when you want to quit the rat race, you still have massive assets to take with you.
  - tempsy 7y ago
    Real estate prices in places like SF or LA have plateaued a bit for a few years now, so yes while you're increasing your equity in your home it's not clear anymore where housing prices are headed at this point.
    - pb7 7y ago
      Even if your home value doesn't increase whatsoever, you are still progressing dumping a higher and higher percentage of your monthly housing-related payments into the equity (payments are interest-heavy early on, shifting to principal-heavy later on). In 15-30 years, you have a paid off house that's worth what you bought it for which can be millions. Or you can leave in a handful of years and take the 100,000s of equity with you that will buy you house in cash in most of the country. Either way, you're hardly worse off.
      - tempsy 7y ago
        In the first few years you're converting a small percentage of that $8K payment into equity...most of it goes to interest, insurance, HOA, property taxes, etc. With the SALT restrictions you can't write off more than $10K in state taxes now either, which means basically $0 off your property taxes since that your income tax alone in CA will be more than that.
- SolaceQuantum 7y ago
  Living in the most expensive city in the nation, with a house, with 3k/month completely un-budgeted for still seems like a high amount...
  - tempsy 7y ago
    It's hard to say what is high or low anymore. Personally most "wage workers" aren't in a great state in the US. Is it "normal" for workers to be able to barely save anything while getting into six figure student debt for a college degree? I would say no. But saving $30k-$40k a year isn't going to cut it if you want a child or save for a downpayment.
    - SolaceQuantum 7y ago
      A downpayment in the most exepensive place to live in the nation, but of course, given the massive income inequality in america! I'm super confused here. EDIT: How is 30-40k/year not enough for a child unless the child is special needs with bad healthcare?