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Rent Dropping

Yakoo752 said:
people sure do struggle with math - let me help you out here...
Base pay: $125,000
Fed: ($25,000)
State: ($8,000)
SS: ($7,000)
Medicare ($2,000)

It's tough living on $82,000 cash annually.
School loans ($20000)
Rent ($24000) - cause you fancy
Car ($6000) - yep, still fancy
Insurance ($1200)

What to do with the additional $31000 annual?!?!? What do I do with the truly disposable $2500 a month?
Click to expand...

So $600 a week to eat (if your employer does feed you, feeding yourself is either expensive or time consuming) clothe yourself, travel (because you probably moved far from your family to make a salary you can afford your student loans on), cover your health and dental deductibles, pay utilities, pay for any additional education and training, etc etc. Your math assumes no 401k contribution nor healthcare insurance contribution.

Not saying you can't make it work at $125k; I made it work on much less than half that thanks to sweet pre-2007 rents and roommates, but it's not like $125k here is a picnic, especially if one is a recent arrival paying market rate rent.
 
SFSV650 said:
So $600 a week to eat (if your employer does feed you, feeding yourself is either expensive or time consuming) clothe yourself, travel (because you probably moved far from your family to make a salary you can afford your student loans on), cover your health and dental deductibles, pay utilities, pay for any additional education and training, etc etc. Your math assumes no 401k contribution nor healthcare insurance contribution.

Not saying you can't make it work at $125k; I made it work on much less than half that thanks to sweet pre-2007 rents and roommates, but it's not like $125k here is a picnic, especially if one is a recent arrival paying market rate rent.
Click to expand...

Yeah 600 a week is more than enough to do all that. Most people basically live on that.
 
Have kids?
:rofl
Yakoo752 said:
people sure do struggle with math - let me help you out here...
Base pay: $125,000
Fed: ($25,000)
State: ($8,000)
SS: ($7,000)
Medicare ($2,000)

It's tough living on $82,000 cash annually.
School loans ($20000)
Rent ($24000) - cause you fancy
Car ($6000) - yep, still fancy
Insurance ($1200)

What to do with the additional $31000 annual?!?!? What do I do with the truly disposable $2500 a month?
Click to expand...
 
tuxumino said:
this is so true, all your other posts on on target like Robin Hood splitting an arrow in the bull's eye.

A lot of what is driving rents up is greed rather than real life economics. Property management is really people management, a landlord makes much more money with long term renters at a moderate rent than short term renters at a high rent.
Click to expand...

Thanks. I just saw the Trump "billion dollar tax break" shit over the weekend. The lack of intelligence of many journalists is mind numbing. It's the same conversation as rental property strategies.
 
nbean16 said:
Yeah 600 a week is more than enough to do all that. Most people basically live on that.
Click to expand...

some people need a reality check.

I can easily understand how you overspend with $5000 vacations, BMWs, private homes, etc.

CuriousMike said:
Have kids?
:rofl
Click to expand...

Not yet, I can tell you how much they costs though. I've already spent about $40k this year trying to conceive one. All from my savings... Wonder how I amassed that not having ever made $125,000 a year. Granted I've only lived in the Bay Area since 2008 and the years prior I was enlisted in the Navy.
 
Yakoo752 said:
On average, those that make $125-$150k annum, have less then $1,000 in liquid assets. Should tell you something about peoples spending.
Click to expand...

Yeah...I've gotten some crazy looks from people when I say the majority of my first year's salary after graduating is going straight into savings for a down payment on a house. "Nah you're gonna go buy a new BMW and eat out all the time, everyone does it lol just enjoy life." No...no I'm not. Don't need to. I might eat out slightly more but I'm pretty damn happy with everything I currently have, difference being ill be indulging my hobbies more. And as for liquid assets, I'm constantly amazed at how people live paycheck to paycheck completely in the hole while making 2-3x what I do. And I'm not exactly broke, though I joke around about probably being the brokest person in my apartment complex.
 
NorCalAthlete said:
And as for liquid assets, I'm constantly amazed at how people live paycheck to paycheck completely in the hole while making 2-3x what I do. And I'm not exactly broke, though I joke around about probably being the brokest person in my apartment complex.
Click to expand...

We've talked about it ad nauseum in the past - it's not what you make, it's what you spend.

I've worked hard for what I've got and I've gotten lucky at somethings have done pretty well for myself.

I am the poorest homeowner in the Bay Area, but I'll be retired at 50.
 
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Yakoo752 said:
We've talked about it ad nauseum in the past - it's not what you make, it's what you spend.

I've worked hard for what I've got and I've gotten lucky at somethings have done pretty well for myself.

I am the poorest homeowner in the Bay Area, but I'll be retired at 50.
Click to expand...

The bolder part. I doubt that very much.
 
Yakoo752 said:
We've talked about it ad nauseum in the past - it's not what you make, it's what you spend.

I've worked hard for what I've got and I've gotten lucky at somethings have done pretty well for myself.

I am the poorest homeowner in the Bay Area, but I'll be retired at 50.
Click to expand...

Yup.
 
SFSV650 said:
So $600 a week to eat (if your employer does feed you, feeding yourself is either expensive or time consuming) clothe yourself, travel (because you probably moved far from your family to make a salary you can afford your student loans on), cover your health and dental deductibles, pay utilities, pay for any additional education and training, etc etc. Your math assumes no 401k contribution nor healthcare insurance contribution.

Not saying you can't make it work at $125k; I made it work on much less than half that thanks to sweet pre-2007 rents and roommates, but it's not like $125k here is a picnic, especially if one is a recent arrival paying market rate rent.
Click to expand...

600 a week after paying all bills etc?

I'd live like a fucking king.
 
Yeah I think pretty much everyone here could do with another $600/week. Hell that's a car payment, several nights out for dinner, a flight to Europe along with entertainment costs there, all in a month.
 
I mean I'd be super fucking stoked with another $600 a month, let alone a week.
 
Yakoo752 said:
people sure do struggle with math - let me help you out here...
Base pay: $125,000
Fed: ($25,000)
State: ($8,000)
SS: ($7,000)
Medicare ($2,000)

It's tough living on $82,000 cash annually.
School loans ($20000)
Rent ($24000) - cause you fancy
Car ($6000) - yep, still fancy
Insurance ($1200)

What to do with the additional $31000 annual?!?!? What do I do with the truly disposable $2500 a month?
Click to expand...

Utilities? Transportation costs? Health insurance premiums? Retirement savings? Other debt accrued earlier in life?
 
Meter Man said:
Utilities? Transportation costs? Health insurance premiums? Retirement savings? Other debt accrued earlier in life?
Click to expand...

pretty sure you can afford those with that additional $2500 your sitting on :laughing

and I bet you could find a way to put $84 aside a month to generate $1000 in savings over the course of a year

you really expect people to feel sympathy about "your" struggle while making $125,000 annual :rofl that's a good one.
 
Yakoo752 said:
pretty sure you can afford those with that additional $2500 your sitting on :laughing

and I bet you could find a way to put $84 aside a month to generate $1000 in savings over the course of a year

you really expect people to feel sympathy about "your" struggle while making $125,000 annual :rofl that's a good one.
Click to expand...

Are you offering me a job making $125,000?
 
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