4 ms·
Living wage is different than the poverty line. I wouldn't be surprised if $150k was really tight for a family of 4 in SF proper. Running the calculations, a p
by curun1r 11y ago
Living wage is different than the poverty line. I wouldn't be surprised if $150k was really tight for a family of 4 in SF proper.
Running the calculations, a payroll calculator indicates that $150k/yr turns into $3925 take home every 2 weeks or just over $100k/yr. The housing alone for a three bedroom (assuming everyone shares a room) would run at least $60k/yr. That leaves $40k/yr to support 6 people. That may be possible, but it's not easy and it's damn near impossible to be saving for college on that amount of money.
- tedsanders 11y ago(1) A family of four means four people (2) $40k/year is enough money to support four people (or even six), if you've already paid taxes and rent. That's more than $500-800 per month for food/clothes/transportation/entertainment, etc. (3) Middle-income parents spend about $7,000 a year per child (or $600/mo), not counting housing. [http://www.usda.gov/wps/portal/usda/usdahome?contentid=2014/08/0179.xml&contentidonly=true http://www.usda.gov/wps/portal/usda/usdahome?contentid=2014/...] Of course, many people would like families to get more than $150,000 of income, but I hope we all agree that it's common to get by on less than $150,000 of family income, as most families do.