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I’m convinced that most of the users on this site are sitting in their house that they rent with eight other people in their underwear eating beans out of a can

I’m convinced that most of the users on this site are sitting in their house that they rent with eight other people in their underwear eating beans out of a can.

tom_ 6y ago
Well, $450,000 a year doesn't get you far in the bay area.
- seattle_spring 6y ago
  It only gets you a ~1.5m mortgage, extremely high savings rate, access to private schools, all while living in one of the most beautiful and desirable metropolitan areas in the world. Basically poverty, in other words.
  - HeyHoJoe 6y ago
    Quiet you, back to eating your beans.
    - kevin_thibedeau 6y ago
      He gets to have artisinal fair trade beans.
  - bradlys 6y ago
    And what does a $1.5m mortgage get you in the peninsula? Maybe 1000-1200sqft? How lavish... You don't get an extremely high savings rate either in terms of ratios (unless you live a very economical lifestyle (small apartments/rooms, old/no car, etc.)).
    - seattle_spring 6y ago
      Monthly take-home pay for $450k is ~$21k in California Monthly mortgage payment for $1.5m is ~$6.5k Remaining money for literally everything else, almost none of which is more expensive in California: $17.5k, or $210k per year. You could eat out every single night and buy a new BMW twice a year, and still save more than 20% of your take-home pay. Not only that, but we're talking about salaries for ONE SINGLE PERSON. Married in tech? We're talking a $900k annual salary. Calling this lifestyle "very economical" is so insanely out of touch with how most people live their lives, it's no wonder tech people are hated as completely out of touch. Edit: Changed $24k to $21k, the calculator I used didn't include state taxes even though California was the chosen state.
      - giantg2 6y ago
        If I made $450k per year, I'd be retired already, provided I stayed single (8 years into career currently).
      - bradlys 6y ago
        It's ~$21k. https://smartasset.com/taxes/paycheck-calculator#5UaGLn7scu https://smartasset.com/taxes/paycheck-calculator#5UaGLn7scu You're not including taxes - no one cares about mortgage in itself. If you include taxes, it's closer to $8k and then you gotta get insurance (which is going to vary wildly by thousands based on where the home is located). If you're unfortunate with taxes + insurance, your monthly payments could end up being as high as $9-10k/month. > Not only that, but we're talking about salaries for ONE SINGLE PERSON. Married in tech? We're talking a $900k annual salary. Calling this lifestyle "very economical" is so insanely out of touch with how most people live their lives, it's no wonder tech people are hated as completely out of touch. Sure - if you can manage to get two 1%'er people together then you'll be living the high life but that's not something you should take as common place. Same with assuming that they'll both be working for their entire life before 65. That's like saying, "Imagine if you were Mark Zuckerberg and then married Mark Zuckerberg!!! You'd be doubly rich!" Btw - if you're at that income - you have to save at least 25% of your net income for retirement and hopefully you do that at a very early age (like 30-35, if you're starting that savings rate at 45 then you're fucked). Social security won't even pay your property tax when you're retired. So, if you expect to live anywhere near your current lifestyle in retirement... you have to save a lot more (percentage wise) than most Americans. I'm not saying you'll be poor but go look at what house you can get in a decent peninsula neighborhood for $1.5mil. You won't be impressed. You'll have a nice car and can afford some niceties but what you come home to will be a piece of shit compared to your income. e.g. https://www.zillow.com/homedetails/856-15th-Ave-Menlo-Park-CA-94025/15568667_zpid/ https://www.zillow.com/homedetails/856-15th-Ave-Menlo-Park-C...
- dragonwriter 6y ago
  > Well, $450,000 a year doesn't get you far in the bay area. Even if that was true, which it's really not, it's especially not true if you consider the extended radius from which people commute into the Bay Area.
benlivengood 6y ago
It is the optimal investment strategy, or for the effective altruism folks the biggest impact Sort of tongue in cheek.

I’m convinced that most of the users on this site are sitting in their house that they rent with eight other people in their underwear eating beans out of a can.

tom_ 6y ago

Well, $450,000 a year doesn't get you far in the bay area.

seattle_spring 6y ago
It only gets you a ~1.5m mortgage, extremely high savings rate, access to private schools, all while living in one of the most beautiful and desirable metropolitan areas in the world. Basically poverty, in other words.
- HeyHoJoe 6y ago
  Quiet you, back to eating your beans.
  - kevin_thibedeau 6y ago
    He gets to have artisinal fair trade beans.
- bradlys 6y ago
  And what does a $1.5m mortgage get you in the peninsula? Maybe 1000-1200sqft? How lavish... You don't get an extremely high savings rate either in terms of ratios (unless you live a very economical lifestyle (small apartments/rooms, old/no car, etc.)).
  - seattle_spring 6y ago
    Monthly take-home pay for $450k is ~$21k in California Monthly mortgage payment for $1.5m is ~$6.5k Remaining money for literally everything else, almost none of which is more expensive in California: $17.5k, or $210k per year. You could eat out every single night and buy a new BMW twice a year, and still save more than 20% of your take-home pay. Not only that, but we're talking about salaries for ONE SINGLE PERSON. Married in tech? We're talking a $900k annual salary. Calling this lifestyle "very economical" is so insanely out of touch with how most people live their lives, it's no wonder tech people are hated as completely out of touch. Edit: Changed $24k to $21k, the calculator I used didn't include state taxes even though California was the chosen state.
    - giantg2 6y ago
      If I made $450k per year, I'd be retired already, provided I stayed single (8 years into career currently).
    - bradlys 6y ago
      It's ~$21k. https://smartasset.com/taxes/paycheck-calculator#5UaGLn7scu https://smartasset.com/taxes/paycheck-calculator#5UaGLn7scu You're not including taxes - no one cares about mortgage in itself. If you include taxes, it's closer to $8k and then you gotta get insurance (which is going to vary wildly by thousands based on where the home is located). If you're unfortunate with taxes + insurance, your monthly payments could end up being as high as $9-10k/month. > Not only that, but we're talking about salaries for ONE SINGLE PERSON. Married in tech? We're talking a $900k annual salary. Calling this lifestyle "very economical" is so insanely out of touch with how most people live their lives, it's no wonder tech people are hated as completely out of touch. Sure - if you can manage to get two 1%'er people together then you'll be living the high life but that's not something you should take as common place. Same with assuming that they'll both be working for their entire life before 65. That's like saying, "Imagine if you were Mark Zuckerberg and then married Mark Zuckerberg!!! You'd be doubly rich!" Btw - if you're at that income - you have to save at least 25% of your net income for retirement and hopefully you do that at a very early age (like 30-35, if you're starting that savings rate at 45 then you're fucked). Social security won't even pay your property tax when you're retired. So, if you expect to live anywhere near your current lifestyle in retirement... you have to save a lot more (percentage wise) than most Americans. I'm not saying you'll be poor but go look at what house you can get in a decent peninsula neighborhood for $1.5mil. You won't be impressed. You'll have a nice car and can afford some niceties but what you come home to will be a piece of shit compared to your income. e.g. https://www.zillow.com/homedetails/856-15th-Ave-Menlo-Park-CA-94025/15568667_zpid/ https://www.zillow.com/homedetails/856-15th-Ave-Menlo-Park-C...
dragonwriter 6y ago
> Well, $450,000 a year doesn't get you far in the bay area. Even if that was true, which it's really not, it's especially not true if you consider the extended radius from which people commute into the Bay Area.

benlivengood 6y ago

It is the optimal investment strategy, or for the effective altruism folks the biggest impact Sort of tongue in cheek.