4 ms·
If it is the Bay Area, you are mistaken in the ideal that there would be money saved up. An apartment is ~4K. A mortgage on the normal 1m plus home is at minimu
by myrandomcomment 6y ago
If it is the Bay Area, you are mistaken in the ideal that there would be money saved up. An apartment is ~4K. A mortgage on the normal 1m plus home is at minimum 3k. At that salary you basically have zero tax deductions except for your house and any charity. Tax rate fed+state, insurance, 401k will reduce take home to ~150K (at 200K salary). If that pay number is not base and includes RSU which is taxed at a higher rate... even more in taxes. So take the middle ground 3500 per month on housing that is 42K. Property taxes in CA on $1m is around another 14K. Then home owners insurance, auto insurance, etc. is another 10K. The number goes down fast.
- giantg2 6y agoYou can sell that expensive house and move to a lower cost of living. Even in the bay area, $300-500k is a good salary (they said several hundred thousand). $200k in that area would be different, and I think you might be missing some costs in your breakdown since that seems like a lot left over. Even if you could save $50k per year on $150k take-home pay, that's a lot better than most of us.