Current Events > Cost by state to "Get By" according to financial analyst.

(+) Yeah! (+)

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Again these are single people with no kids financials. From there perspective I dont see it as an issue. If theyre on their own I dont see why they should be thinking about more then here and now. Certainly a damaging thought process long term but until they have a reason to change that, why should they?

Nota214 posted...

How much are you saving and investing each month? Also, that number is probably derived from the Phoenix area just due to its sheer population size so if you're living in Tucson, you can get by comfortably on about $53k right now. At $60k, you'll barely be scraping by in a studio in Gilbert.

I live in the "poor" part of Scottsdale.

I'm putting away 15k a year into retirement. Admittedly, I just upped it to that amount, so I'll see how it works out, but judging from my paycheck, I'll still be putting a lot into my checking account after everything is said and done.

65k for Washington state. I make around 25K less than that with 40 plus hours a week job. In a managerial position no less.

Lowest HR positions are around 75K in my business. I've seen them shoot up to 115K in other companies. I'm trying to think what the heck you do to make that exact number? I'd have to work my Managers positions at two different companies with 60 + hours week to make 65K a year.

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it isnt sarcasm

i do whatever the fuck I want

CountDog posted...

65k for Washington state. I make around 25K less than that with 40 plus hours a week job. In a managerial position no less.

Lowest HR positions are around 75K in my business. I've seen them shoot up to 115K in other companies. I'm trying to think what the heck you do to make that exact number? I'd have to work my Managers positions at two different companies with 60 + hours week to make 65K a year.

So, in my line of work you get paid more for living in the downtown area of Phx and less in the suburbs. Maybe it's analogous in WA for you?

Seems some users don't want to include saving for retirement instead of working for the rest of your life until you die into income to get by.

Sexypwnstar posted...

Seems some users don't want to include saving for retirement instead of working for the rest of your life until you die into income to get by.

haha, retirement

VampireCoyote posted...

it isnt sarcasm

i do whatever the fuck I want

As long as it's under $200

Shamino posted...

I live in the "poor" part of Scottsdale.

I'm putting away 15k a year into retirement. Admittedly, I just upped it to that amount, so I'll see how it works out, but judging from my paycheck, I'll still be putting a lot into my checking account after everything is said and done.

If you're living in Scottsdale and putting away $15k per year in retirement then I'm confused as to how you're living comfortably at an income much less than $60k per year.

On the low end, you're probably paying around $1400 per month in rent which comes out to $16.8k per year. And that comes out of your net income, not your gross.

If your gross was $50k per year, your net would be about $37k. Subtract 16.8k and that's $20.8k.

With health insurance being about $430 per month in Arizona, you may pay about half of that which is $2580. That brings us down to ~$18220.

The average for a person in Scottsdale to spend on food per month is $550. Taking that into account, it's now down to $11.6k. (I'll grant, this may be as much 2x higher than what you're actually spending)

I don't know if water is included in your rent but I'll assume it is just for the sake of the scenario. Electricity however is most likely not. That will probably run you about an average of $160 per month which comes out to $1920. That brings us to $9,680.

With phone and internet, that's probably another $140 per month which brings the total left for savings at about $8k per year.

I'm not going to assume you have a car payment and auto insurance in this but considering it's already under $10k after taxes and expenses, I don't see how you're finding $15k to put away per year, even if that $15k is pre-tax, and still be able to live comfortably while making much less than $60k per year. You would have to be getting one hell of a deal on rent to make up that difference

Dat_Cracka_Jax posted...

As long as it's under $200

Price isnt something I have to concern myself about. If I want someone I let it be known that I want it and it will be given to me.

• Annual living wage for a single person: $65,640

For Washington State that is a very low estimate, either that or its greatly skewed by people living outside of Seattle Metro Area

Nota214 posted...

If you're living in Scottsdale and putting away $15k per year in retirement then I'm confused as to how you're living comfortably at an income much less than $60k per year.

On the low end, you're probably paying around $1400 per month in rent which comes out to $16.8k per year. And that comes out of your net income, not your gross.

If your gross was $50k per year, your net would be about $37k. Subtract 16.8k and that's $20.8k.

With health insurance being about $430 per month in Arizona, you may pay about half of that which is $2580. That brings us down to ~$18220.

The average for a person in Scottsdale to spend on food per month is $550. Taking that into account, it's now down to $11.6k. (I'll grant, this may be as much 2x higher than what you're actually spending)

I don't know if water is included in your rent but I'll assume it is just for the sake of the scenario. Electricity however is most likely not. That will probably run you about an average of $160 per month which comes out to $1920. That brings us to $9,680.

With phone and internet, that's probably another $140 per month which brings the total left for savings at about $8k per year.

I'm not going to assume you have a car payment and auto insurance in this but considering it's already under $10k after taxes and expenses, I don't see how you're finding $15k to put away per year, even if that $15k is pre-tax, and still be able to live comfortably while making much less than $60k per year. You would have to be getting one hell of a deal on rent to make up that difference

My car is paid off, and my health insurance is 100 dollars a month.

Rent in the "poor" part is well below 1400. Summer it's about 1200 and winter it's 1000 or so.
Also, Utilities are covered in rent.
Now, it's worth pointing out that the apt complex is over 50 years old. Hence the cheap rent, but that's pretty much the norm for the poor part of Scottsdale.

Eramir posted...

* Annual living wage for a single person: $65,640
For Washington State that is a very low estimate, either that or its greatly skewed by people living outside of Seattle Metro Area

well yeah it's a statewide average...

Questionmarktarius posted...

It's called "taxachusetts" for good reason.

It's one of the big reasons I moved from MA to NH.

Questionmarktarius posted...

It's called "taxachusetts" for good reason.

Nah, Massachusetts isn't even top 10 for income tax, especially not in New England. Property taxes are also like half that of "Tax Free New Hampshire" so it comes out pretty even.

The problem is property values were already very high because Boston is a desirable city, Boston's also very small, so the lack of construction has just made housing prices skyrocket.

thronedfire2 posted...

well yeah it's a statewide average...

You don't need $65,000 to live in Spokane. These lists are junk.

chaos_knight posted...

You don't need $65,000 to live in Spokane. These lists are junk.

do you know what an average is?

thronedfire2 posted...

do you know what an average is?

It's including the really high cost areas of Seattle and Tacoma. Rest of the state is cheaper.

thronedfire2 posted...

do you know what an average is?

Apparently he does, since he stated that "these lists are junk".

20% into savings?
Lmao

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Not necessarily. Some 401ks offer premature distributions that dont incur tax penalties.

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73k a year after taxes is about 4500 a month. Thats 2250 a month on rent and utilities. Youre probably not getting a one bedroom for that much but roommates are hella common in New York. Its enough to get by.

again no emergencies or flexibility but itll work.

Indiana here.

I've been making $30-40k over the listed income and as a single dad of two kids, I'm reasonably well off. Highly dependent on living situation (I have a pretty reasonable mortgage) but this state is generally lower cost of living.

I live in a veritable flyover province, and I would be hard-pressed to afford anything by myself here as a single person. That's why I have a roommate. Our combined purchasing power allows for greater flexibility in housing and accommodations.

I sure as shit don't contribute 20% of my salary to retirement savings. I don't make that much money. I just plan on never retiring or dying before I run out of money. >_>

Boston is superb, but you're gonna pay....

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Thats one of the advantages to setting an upper limit to ones lifespan. Im not likely to reach retirement age so saving isnt necessary (and difficult anyway with society refusing to let me work).

I also get to check out before the worst of climate change settles in.