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Napkin math: $400k * 0.6 = $240k post tax $240k - $36k rent = $204k $204k - $50k annual expenses = $154k So if you just work that job for 3-4 years you'll e
by aprilthird2021 2y ago
Napkin math:
$400k * 0.6 = $240k post tax
$240k - $36k rent = $204k
$204k - $50k annual expenses = $154k
So if you just work that job for 3-4 years you'll easily have a heavy down payment for a house, assuming no promo, no raises.
If you work the job for 7-8 years you can buy a house (more like a townhouse) all in cash. Not going to be the best house on the market, but it's doable.
This is all not considering investing in the stock market, raises, being frugal with your expenses, living with roommates to save up a bit, etc. there's lots of ways to parlay more money than most other people will ever make annually into a home
- jeffbee 2y agoYour belief in stationary housing prices is charming.
- aprilthird2021 2y agoRead the last part of my comment. I left out many natural ways one's earnings and investments and savings could increase over time also. The math still maths