It is also pre-tax. Find the answer you're looking for from 45 million answers logged! haaaaah! If you post a question after sending a gift to someone, your question will be displayed in a special section on that persons feed. I forgot to mention sometimes one spouse wants to retire early but the other spouse wants to keep working so the scenario would change in that case as well. I wouldn't go that far. Im assuming you can get Medicare, although Ididntexplicitly put that in the article. Thanks for the input. eating out, vacations, etc. Hulu, Netflix, Prime & UVerse, wife already says were not getting rid of that so, around $180 a month, that includes purchasing avg 2 movies on prime a month. But you'd be fine, as long as you manage your expenses and don't make a lot of unnecessary purchases. You're getting another $18,000 a year in Social Security, while the $1 million should be throwing off at least $10,000 a year in interest at 1%. They will set you back $20,000 per year (so a newish car every year as if you were paying it outright) if you want to send that kid to college by the time they hit 18 and it costs $250,000 to go to a State University. $600 is do-able, lots of soups and stir-frys. I hope you can make it work. As a couple, Id say the cost goes up, it doesnt go down! I dont particularly want to. I guess the first step to cheap living is to move out of California and other high-tax/high cost of living states. Health care is a joker in the deck. Health Ins. My current expenses are approximately $2,000/mth with health insurance being approximately 1/3 of my monthly expenses. As a recently 100% disabled veteran that is single, this is perfect. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. I am disabled I had to do it myself it took a few days but the pain only cost 300.00. Living part time in another country can make a huge difference. Tuesday, 6/27 - Tuesday, 7/4. no gas bill? Doable, for sure, but, as a few commenters have pointed out, where you live does make a difference. You are right. Total kid's outfits being just under $2.1K. Only people with paid off houses and no debts have any business retiring. Seems silly to need 200k per year in retirement. If you are making between $37k-$92k you WILL pay 9.4% in California state tax. Yeah you are way off base on SS being changed drastically soon. Is there any update? Healthcare: Were assuming two working adults here. Not deprived at all. When it comes to PC gaming, it depends on your PC configuration and the type of games you play. For my wife and I, our three biggest expenses are day care, mortgage, and taxes. You will never find a more wretched hive of scum and villainy.. Would it be possible to live above poverty on $4000 a month after taxes anywhere in southern/central California? If i lived in LA, i'd prefer somewhere safe--doesnt have to be anything fancy-- which kind of says high-ish rent. We live on $3000 for two people a month. You have a great point there. ( Income, sales and property taxes). $200 Utilities I spend around $1,000/mo. Whereas some other cities where work is farther away you may find a car an absolute requisite item. Tens of millions of people in this country live on less each month. Also, I agree with some of the other comments about the location being a big factor in terms of how this effects your living expenses post-retirement. The following table lists flat monthly incomes based on a 2,000 hour work year . Kansas stands out as a reasonably affordable place to enjoy the good life ($41.7K) without spending too much time on the job (46 hours). I think housing is a little low, and isnt Medicare closer to $450 (and dont you need a supplement plan or youre going to take it in the rear when you go to the doctor)? And what does the sentence mean? You are doing a great job with your expenses. Its a wonderful feeling knowing you dont have to worry about a roof over your head and that you dont have to make much money to cover your monthly bills. The biggest bill is my wifes COBRA, but thats coming out of savings and will go away soon. If you want to barely make it as a single individual adult, and actually live like an adult without a roommate, you HAVE to make $80k per year. Thanks for your input. I dont even have to drive. Yeah, it would have been nice but I didnt need it. Im sure retirement would be much easier financially if people are open to relocation. Retirees who have paid off their mortgages pay a. In my country, it costs an ordinary person(a person who has no skills with low income)around two Is 80000 dollars salary a year enough for one person to buy a house and a nice car in the us in m Is $40k dollars/year (around 3.3k dollars/month) considered a good income in the US? Take out that mortgage and I would feel rich! How much car/rent can i afford? I own two properties. Answering questions about the Los Angeles area. One drug, Celebrex, that is very effective for arthritis costs OVER $200 per month alone, and no generic yet. A person could, and my DH has relatives living in the small rural hometown where he grew up on less than that now with kids and housing expenses. The decision to use public transport or Uber vs owning a vehicle as a vehicle carries with it other expenses (Registration, Insurance, Gas, maintenance costs)
Column: Recovery from Pa. crash shows . Hopefully, well be in relatively good health by the time we retire. Thanks for your input. Carpe Diem Yall ! HiNative can help you find that answer you're looking for. I guess because I moved to an area where what I want to do is literally out my back door. When it comes to big-tits-Onlyfans stars, we chose the spicy Diana Vazquez as our top girl for 2023. Investing in index funds with Acorns. Theyre gradual but eventually I should be making a few more hundreds a month. The keys, as you said, would be carrying no debt and no mortgage. 4k a month after taxes. O and I live in a state with high taxes. Thats probably not enough to retire where I live. . Prior to WWII residential air conditioning was unheard of and people survived. Im sorry, I think you are single and have no kids ($30 wont keep your kids in diapers a week). And you better damn hope if you have a spouse or significant other that they are pulling in the same amount. Is diversity more important than fair academic competition in the United States? I never moved away from my parents house and they havent been charging me rent since things are so bloody expensive in this state! There were the usual complaints about Social Security and nitpicking about the amount of deductions you get. before minor debt service (I pay about $190/mo for student loan repayment). Only the user who asked this question will see who disagreed with this answer. It entirely depends on what your monthly budgets, expenditures and unplanned expenses you may have. If your motivation is to pay the least in taxes, you can do almost anything. Thank you for reminding us Drew and not letting that dismal fact be lost in the dustbin of history. Yes, I can and still live very comfortable with in my means. I think it is very possible, although I would not choose it. They said forget that! Its easy for us to live on 2800 a month. So they can continue to make payments until they are 60 something its really pathetic. You can do it in less than 12 months by working an extra few hours a week or even faster than that if you dedicate more time to it. Have you seen the approach of surrendering your current drivers license and getting a license in South Dakota (no income tax)? One lady posted that its below the poverty line. To be more specific, youd probably be fine until an emergency pops up. Im overfed. Is there anything Im being naive about? I think people just got used to their inflated lifestyle. Though Im sure youre not recommending that. Sound familiar to anyone out there? Well they happen.but you prob shouldnt have them unless you are rich. But for most of the country 48K would be doable. All your budget items here are fixed expenses that you know are coming. Retirement in your 60s can be very different than retirement in your 70s. You dont bring $3,935 home after all the taxes and deductions for $60,000 salary in California. I live a fairly healthy life and do not suffer or really want for anything. Thats a 2% effective tax rate and youll have $31,722/year of after-tax income to spend in retirement. Your salary need be about $71,000 to collect nearly $4,000 in California. Why? This also doesnt account for any other savings a person/couple might have. or garbage? Find out how it works, what pitfalls to watch out for, and how this rule of thumb compares with other retirement guidance. The images don't look much like me; the generative-AI models that spat them out seem to have been trained on my official U.S. government portrait, taken when I was six months pregnant. Some RV owners do this. How much do you spend on prescriptions monthly? Mississippi is the most affordable at $40.4K. Its your choice. I averaged $1,464/mo. We moved out of CA and wouldnt want to go back. Half of the households in California are barely pulling in $50,000 a year similar to what we see across the US. Yet if you live in the Bay Area, $60,000 a year will put you in the bottom 39 percent of all households. Rarely do we see financial articles actually try and breakdown a budget of how it would be to live on this kind of income. I see some people paying $280 in car payments and I don't understand how. Sustained Winds. Can ask simple questions and can understand simple answers. The problem isnt the pay in California, its everyones incessant need to live beyond their means. Its a beautiful town with many activities to partake in. Like, I don't think you could live in La Jolla on 4k/month, but you can live in UTC or Clairemont with that. Food? In fact the only one I can remember said Black Cattle Matter referring to the popular breed here, Angus. Thats out for us. Auto service: Oil changes and regular wear and tear. According to some questionable sources, she's got a 34L cup, and whether or not that's accurate . Hopefully the kids will contribute to the household expense. 8 posts, read 59,526 times. 4. Add in a child or two that grow constantly, and its an impossibility. $800 Housing property tax, HOA, maintenance, repair, insurance, etc. We provide EVERYTHING ELSE. They barely qualified for a loan for the remaining $100,000k. 6/27 6/29 7/1 7/4 5 PM 5 AM 2 AM 2 AM. You were so correct when you said to pay off your mortgage. If Im single, Im sure I can do something similar too. Scan this QR code to download the app now. Check the table below for a breakdown of $4,000 a month after tax in the United States. It has a murder rate lower than British Columbia despite loose gun laws. Mrs. RB40 is frugal, but she is still pretty conventional. If the goal is to live an almost minimalist life, I think you achieved it. You didnt mention car tags either and most people have kids. The cost of living is too high and there are just too many people there. cmo se dice "muchas gracias" ? I am one of them. I guess it also depends on where in Southern CA. Mortgage you cant save for the down. If they have less money, theyll make do somehow.
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