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So let's assume something like $25k for first job. That would be $200k now after the 8x. Poverty line in SF right now is $82k, so depending on where you live, $

So let's assume something like $25k for first job. That would be $200k now after the 8x. Poverty line in SF right now is $82k, so depending on where you live, $200k isn't that much.

poulsbohemian 2y ago
Especially in places like Washington state, where the latest stats tell us you need an income of $150K to even consider buying a home (averaged across the state).
- greedo 2y ago
  If you can't make it on $200K you have fundamental money management issues.
  - JohnMakin 2y ago
    “make it” is a loaded term. You’re unlikely to achieve a very strong retirement on that income in a lot of US states.
    - s1artibartfast 2y ago
      It depends on what you want out of retirement. If you are making 200k in a high cost of area, your home will be worth several million. That's where the retirement money went. If you expect to be able to die without tapping the retirement account, you will have a problem. You need a reverse mortgage or to sell out and go back to renting.
      - bradlys 2y ago
        You’re assuming you even could buy a home at $200k/yr. You can’t in several places - usually places where those $200k incomes are achievable.
        s1artibartfast 2y ago
        I think that is over-stated. Much of it depends on the home people want, how long they will save, and commute distance acceptable. At 200k, it isnt that people can't buy a house, it is that they dont like what they can afford. You cant afford a downtown penthouse/mansion on SF & NY with 200k, but you can absolutely buy a home in both locations.
        bradlys 2y ago
        Find me a decent home that you can actually buy in SF proper with $200k/yr.
  - r0fl 2y ago
    $200k in some cities is a lot of money $200k in some cities is not a lot of money $200k in some cities with 2 kids is really not a lot of money $200k is not equal to $200k
  - adamredwoods 2y ago
    That's about $28k in federal taxes.
    - BobbyTables2 2y ago
      I think a bit more — did you forget Medicare and Social Security too?
  - deleted 2y ago
    [deleted]
tekla 2y ago
Absolutely insane to insinuate $200k isn't that much money.
s1artibartfast 2y ago
That means you weren't keeping up in the first place. 25k was not what one would consider a livable salary for SF in 2014

So let's assume something like $25k for first job. That would be $200k now after the 8x. Poverty line in SF right now is $82k, so depending on where you live, $200k isn't that much.

poulsbohemian 2y ago

Especially in places like Washington state, where the latest stats tell us you need an income of $150K to even consider buying a home (averaged across the state).

greedo 2y ago
If you can't make it on $200K you have fundamental money management issues.
- JohnMakin 2y ago
  “make it” is a loaded term. You’re unlikely to achieve a very strong retirement on that income in a lot of US states.
  - s1artibartfast 2y ago
    It depends on what you want out of retirement. If you are making 200k in a high cost of area, your home will be worth several million. That's where the retirement money went. If you expect to be able to die without tapping the retirement account, you will have a problem. You need a reverse mortgage or to sell out and go back to renting.
    - bradlys 2y ago
      You’re assuming you even could buy a home at $200k/yr. You can’t in several places - usually places where those $200k incomes are achievable.
      - s1artibartfast 2y ago
        I think that is over-stated. Much of it depends on the home people want, how long they will save, and commute distance acceptable. At 200k, it isnt that people can't buy a house, it is that they dont like what they can afford. You cant afford a downtown penthouse/mansion on SF & NY with 200k, but you can absolutely buy a home in both locations.
        bradlys 2y ago
        Find me a decent home that you can actually buy in SF proper with $200k/yr.
- r0fl 2y ago
  $200k in some cities is a lot of money $200k in some cities is not a lot of money $200k in some cities with 2 kids is really not a lot of money $200k is not equal to $200k
- adamredwoods 2y ago
  That's about $28k in federal taxes.
  - BobbyTables2 2y ago
    I think a bit more — did you forget Medicare and Social Security too?
- deleted 2y ago
  [deleted]

tekla 2y ago

Absolutely insane to insinuate $200k isn't that much money.

s1artibartfast 2y ago

That means you weren't keeping up in the first place. 25k was not what one would consider a livable salary for SF in 2014