$80000 a year needed
Jan 17th 2005, 3:25 am
#76
Forum Regular
Joined: Jan 2005
Location: London....for now!
Posts: 31
Re: $80000 a year needed
A big thank you to jinxnkay and ABCDiamond for your speedy and helpful replys
Have a beer or two on me
Lorraine
Have a beer or two on me
Lorraine
Jan 17th 2005, 3:26 am
#77
Guest
Posts: n/a
Re: $80000 a year needed
Originally Posted by Lorraine Bryan
I have several questions I'd like clarifying
1) Do you pay for education in all areas or just NSW ?
In Perth - State you pay a small fee about $40 per year, private goes from $2,000 per year to $13,000!!
2) Whats the likelihood of hubby finding work in his field ?
Good chances, but needs to bring as much info as possible with him from previous employers outlining what he has done. In some cases he will have to take exams to get acredited
3) Is the cost of living cheaper in Perth as opposed to QSL (or is that a miff)?
Yes, but then the wages are less, so probably not
4) Is furnished rental easy to get or is it better to ship over our gear (we wanted to start from fresh) And is the deposit hefty?
Bring everything. Add up all you have and cost it out how much it will be to replace new, then cost a container, I'll lay bets it'll cost less to ship it than the replace value.
5) What is a minimal amount of $$ shall we take considering I will have a job to start?
This one is hard to answer. In my opinion I wouldn't come over with any less than $50,000, 20k pounds. That is calulated on the cost of living for a year in a rental
6) Am I wearing rose tinted glasses???
You may have been, but you have removed them to ask these questions.
Any of the above answered will be gratefully received
Lorraine
1) Do you pay for education in all areas or just NSW ?
In Perth - State you pay a small fee about $40 per year, private goes from $2,000 per year to $13,000!!
2) Whats the likelihood of hubby finding work in his field ?
Good chances, but needs to bring as much info as possible with him from previous employers outlining what he has done. In some cases he will have to take exams to get acredited
3) Is the cost of living cheaper in Perth as opposed to QSL (or is that a miff)?
Yes, but then the wages are less, so probably not
4) Is furnished rental easy to get or is it better to ship over our gear (we wanted to start from fresh) And is the deposit hefty?
Bring everything. Add up all you have and cost it out how much it will be to replace new, then cost a container, I'll lay bets it'll cost less to ship it than the replace value.
5) What is a minimal amount of $$ shall we take considering I will have a job to start?
This one is hard to answer. In my opinion I wouldn't come over with any less than $50,000, 20k pounds. That is calulated on the cost of living for a year in a rental
6) Am I wearing rose tinted glasses???
You may have been, but you have removed them to ask these questions.
Any of the above answered will be gratefully received
Lorraine
Good luck
Jill
Jan 17th 2005, 3:28 am
#78
Guest
Posts: n/a
Re: $80000 a year needed
Damn knew I would do that, the answers are hidden in your quote, sorry
Lessons on expat website usage please
Jill
Lessons on expat website usage please
Jill
Jan 17th 2005, 3:49 am
#79
life begins again...
Joined: Jul 2003
Location: doncaster..then scunny... now canberra.
Posts: 1,790
Re: $80000 a year needed
hi all.
i just thought i'd add the single guys perspective on all this, or try anyway. I'm now in the job game and have applied for a few positions in sydney, however today i have been asked by the guy i work for now if i'd accept a permanent position here. The only problem with this is he could only afford to offer me $35K.
sitting down this morning after the meeting and working it all out i came to the conclusion this wouldn't be enough for me to live on. it would be enough for me to survive on but having to make a rough guess about bills etc i'd just about break even.
the way saw it was i'd spend $300-350 on rent, $100 on utility bills and $50+ on food (that's a week). this would eat up the $500 (after tax) a week i'd get in a snap! Even then i think i've understimated on the bills.
Some of the positions i've been applying for in sydney are up to $70K, i'm hoping this would give me a better standard of living, even if it is in sydney. again i haven't a clue (or even less of a clue) about the cost of living up there but i'm hoping i'd stand a better chance.
Also i haven't even thought about getting a mortgage yet, but i'd be surprised if i ever could afford one in sydney, but i probably could in canberra.... grrr money! Normally i wouldn't even consider the $35k but there are other possibilities here that may pay off in the future, which isn't helping me decide. play safe or take a chance?
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
i just thought i'd add the single guys perspective on all this, or try anyway. I'm now in the job game and have applied for a few positions in sydney, however today i have been asked by the guy i work for now if i'd accept a permanent position here. The only problem with this is he could only afford to offer me $35K.
sitting down this morning after the meeting and working it all out i came to the conclusion this wouldn't be enough for me to live on. it would be enough for me to survive on but having to make a rough guess about bills etc i'd just about break even.
the way saw it was i'd spend $300-350 on rent, $100 on utility bills and $50+ on food (that's a week). this would eat up the $500 (after tax) a week i'd get in a snap! Even then i think i've understimated on the bills.
Some of the positions i've been applying for in sydney are up to $70K, i'm hoping this would give me a better standard of living, even if it is in sydney. again i haven't a clue (or even less of a clue) about the cost of living up there but i'm hoping i'd stand a better chance.
Also i haven't even thought about getting a mortgage yet, but i'd be surprised if i ever could afford one in sydney, but i probably could in canberra.... grrr money! Normally i wouldn't even consider the $35k but there are other possibilities here that may pay off in the future, which isn't helping me decide. play safe or take a chance?
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
Jan 17th 2005, 3:58 am
#80
Forum Regular
Joined: Jan 2005
Location: London....for now!
Posts: 31
Re: $80000 a year needed
Originally Posted by Go Banana's !!
Damn knew I would do that, the answers are hidden in your quote, sorry
Lessons on expat website usage please
Jill
Lessons on expat website usage please
Jill
LOL.....thanks for your answers...i did see them
And when you find out about how to qoute several replys or just parts of the thread lt me know and i'll join the lesson...ha ha!!!
Lorraine
Jan 17th 2005, 4:09 am
#81
Banned
Joined: Jul 2003
Posts: 1,048
Re: $80000 a year needed
I think people often work from the wrong base: how much they need to survive for the moment rather than how much they need over a life time.
Say you have no mortgage and no money (to keep it simple) are 40 and retire at 65 and want you and partner to have a modest income during retirement - say $1,000,000 invested returning a net $50,000 / yr in today's money.
So what should be your current savings rate?
= $1,000,000 / (65 - 40) = $40,000
But what should your before tas earnings be?
Your marginal tax rate is 47.5%.
= $40,000 / (100% - 47.5%) = $76,190
But you need $50,000 after tax to keep a family of 4 so you need another:
= $50,000 / (100% - 47.5%) = $95,238 (actually not all at top rate but ...)
So the total income before tax required is:
= $76,190 + $95,238 = $171,428.
Of course this is simplified for illustration purposes.
Say you have no mortgage and no money (to keep it simple) are 40 and retire at 65 and want you and partner to have a modest income during retirement - say $1,000,000 invested returning a net $50,000 / yr in today's money.
So what should be your current savings rate?
= $1,000,000 / (65 - 40) = $40,000
But what should your before tas earnings be?
Your marginal tax rate is 47.5%.
= $40,000 / (100% - 47.5%) = $76,190
But you need $50,000 after tax to keep a family of 4 so you need another:
= $50,000 / (100% - 47.5%) = $95,238 (actually not all at top rate but ...)
So the total income before tax required is:
= $76,190 + $95,238 = $171,428.
Of course this is simplified for illustration purposes.
Jan 17th 2005, 4:14 am
#82
Joined: Jan 2003
Posts: 13,233
Re: $80000 a year needed
Originally Posted by scutterUK
Some of the positions i've been applying for in sydney are up to $70K, i'm hoping this would give me a better standard of living, even if it is in sydney. again i haven't a clue (or even less of a clue) about the cost of living up there but i'm hoping i'd stand a better chance.
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
Jan 17th 2005, 4:20 am
#83
Guest
Posts: n/a
Re: $80000 a year needed
Originally Posted by Quinkana
But you need $50,000 after tax to keep a family of 4 so you need another:
And retirement provision..
Originally Posted by Quinkana
want you and partner to have a modest income during retirement - say $1,000,000 invested returning a net $50,000 / yr in today's money.
Jan 17th 2005, 4:31 am
#84
Guest
Posts: n/a
Re: $80000 a year needed
Originally Posted by scutterUK
hi all.
i just thought i'd add the single guys perspective on all this, or try anyway. I'm now in the job game and have applied for a few positions in sydney, however today i have been asked by the guy i work for now if i'd accept a permanent position here. The only problem with this is he could only afford to offer me $35K.
sitting down this morning after the meeting and working it all out i came to the conclusion this wouldn't be enough for me to live on. it would be enough for me to survive on but having to make a rough guess about bills etc i'd just about break even.
the way saw it was i'd spend $300-350 on rent, $100 on utility bills and $50+ on food (that's a week). this would eat up the $500 (after tax) a week i'd get in a snap! Even then i think i've understimated on the bills.
Some of the positions i've been applying for in sydney are up to $70K, i'm hoping this would give me a better standard of living, even if it is in sydney. again i haven't a clue (or even less of a clue) about the cost of living up there but i'm hoping i'd stand a better chance.
Also i haven't even thought about getting a mortgage yet, but i'd be surprised if i ever could afford one in sydney, but i probably could in canberra.... grrr money! Normally i wouldn't even consider the $35k but there are other possibilities here that may pay off in the future, which isn't helping me decide. play safe or take a chance?
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
i just thought i'd add the single guys perspective on all this, or try anyway. I'm now in the job game and have applied for a few positions in sydney, however today i have been asked by the guy i work for now if i'd accept a permanent position here. The only problem with this is he could only afford to offer me $35K.
sitting down this morning after the meeting and working it all out i came to the conclusion this wouldn't be enough for me to live on. it would be enough for me to survive on but having to make a rough guess about bills etc i'd just about break even.
the way saw it was i'd spend $300-350 on rent, $100 on utility bills and $50+ on food (that's a week). this would eat up the $500 (after tax) a week i'd get in a snap! Even then i think i've understimated on the bills.
Some of the positions i've been applying for in sydney are up to $70K, i'm hoping this would give me a better standard of living, even if it is in sydney. again i haven't a clue (or even less of a clue) about the cost of living up there but i'm hoping i'd stand a better chance.
Also i haven't even thought about getting a mortgage yet, but i'd be surprised if i ever could afford one in sydney, but i probably could in canberra.... grrr money! Normally i wouldn't even consider the $35k but there are other possibilities here that may pay off in the future, which isn't helping me decide. play safe or take a chance?
anyway, if anyone has a sugesstion about bill costs in and around sydney i'd appreciate it.
cheers all.
Foods pretty expensive.. god knows what i spend.. to many takeaways but they are cheapish.
Electricity is cheap like 140 bucks a qtr.
Car costs a fortune.
Most expensive thing to pay is going out and drinking off course!
Jan 17th 2005, 4:34 am
#85
Banned
Joined: Jul 2003
Posts: 1,048
Re: $80000 a year needed
Originally Posted by ABCDiamond
Just for the record, my calculations have been based on $50k Gross salary, before tax, for a family of 3.
And retirement provision..
That would be on top of Super ?
And retirement provision..
That would be on top of Super ?
So is or includes super.
Now if you really want the undiluted truth:
Retirement Calculator from Hell
Last edited by Quinkana; Jan 17th 2005 at 4:53 am.
Jan 17th 2005, 5:28 am
#86
Class 2 Guru
Joined: May 2004
Location: Where the stars look very diff-e-rent today... and tomorrow!
Posts: 1,124
Re: $80000 a year needed
Electricity is cheap like 140 bucks a qtr.
Jan 17th 2005, 5:50 am
#87
Guest
Posts: n/a
Re: $80000 a year needed
Originally Posted by Quinkana
A recent survey of 401(k) participants shows that the median plan balance for employees nearing retirement (the sixty to sixty-four age group) was $25,000.
Currently, there are three workers for every retiree; by 2050, there will be only 1.5 workers supporting each retiree.
Jan 17th 2005, 6:55 am
#88
Just Joined
Joined: Jan 2005
Location: Melbourne
Posts: 7
Re: $80000 a year needed
Originally Posted by Lorraine Bryan
OMG!! :scared: What an eye opener 
Thanks to all those that have posted on this thread it has certainly made me wake up and smell the coffee.
We have no equity as such but are saving like mad at the moment so we will have some money to see us over for a few months. I'm a registered nurse/midwife (not sure which field to practice in in OZ) and hope to have a job that i'll start once there, hopefully won't need to for about a month so in order to settle in.
I know the wages are not brilliant for nursing and midwifery as in the UK so i'm under no illusion there! Hubby is a builder, no specific qualifications as such but can do tiling, plastering painting and decorating etc. We have an 12 year old daughter who will need schooling and a 18 year old son who does not want to come to OZ
(Thats another story)
I have several questions I'd like clarifying
1) Do you pay for education in all areas or just NSW ?
2) Whats the likelihood of hubby finding work in his field ?
3) Is the cost of living cheaper in Perth as opposed to QSL (or is that a miff)?
4) Is furnished rental easy to get or is it better to ship over our gear (we wanted to start from fresh) And is the deposit hefty?
5) What is a minimal amount of $$ shall we take considering I will have a job to start?
6) Am I wearing rose tinted glasses???
Any of the above answered will be gratefully received
Lorraine
Thanks to all those that have posted on this thread it has certainly made me wake up and smell the coffee.We have no equity as such but are saving like mad at the moment so we will have some money to see us over for a few months. I'm a registered nurse/midwife (not sure which field to practice in in OZ) and hope to have a job that i'll start once there, hopefully won't need to for about a month so in order to settle in.
I know the wages are not brilliant for nursing and midwifery as in the UK so i'm under no illusion there! Hubby is a builder, no specific qualifications as such but can do tiling, plastering painting and decorating etc. We have an 12 year old daughter who will need schooling and a 18 year old son who does not want to come to OZ
(Thats another story)I have several questions I'd like clarifying
1) Do you pay for education in all areas or just NSW ?
2) Whats the likelihood of hubby finding work in his field ?
3) Is the cost of living cheaper in Perth as opposed to QSL (or is that a miff)?
4) Is furnished rental easy to get or is it better to ship over our gear (we wanted to start from fresh) And is the deposit hefty?
5) What is a minimal amount of $$ shall we take considering I will have a job to start?
6) Am I wearing rose tinted glasses???
Any of the above answered will be gratefully received
Lorraine
We didnt ship everything over and we wished we had. Even things like spare duvet covers and kitchen things etc soon add up when considering starting again. As an earlier entry said- its better to have your old quality things and chuck them, than buy new cheap things just to get by temporarily. (and I think it would probably be cheaper to ship everything than buy new).
Jan 17th 2005, 7:05 am
#89
Banned
Joined: Jul 2003
Posts: 1,048
Re: $80000 a year needed
Originally Posted by juzzer
Hi Lorraine- I'm working as a midwife in Melbourne. We moved here 2 years ago and we could have just survived on my full time wages alone (without kids). But could not have had all new things as well. However, if you would do just agency work, you would earn between $40 and $60 dollars an hour, (very approx. $60,000gross) and that would definately be enough to get by.
We didnt ship everything over and we wished we had. Even things like spare duvet covers and kitchen things etc soon add up when considering starting again. As an earlier entry said- its better to have your old quality things and chuck them, than buy new cheap things just to get by temporarily. (and I think it would probably be cheaper to ship everything than buy new).
We didnt ship everything over and we wished we had. Even things like spare duvet covers and kitchen things etc soon add up when considering starting again. As an earlier entry said- its better to have your old quality things and chuck them, than buy new cheap things just to get by temporarily. (and I think it would probably be cheaper to ship everything than buy new).
So to spend $100,000 on replacement at a marginal tax rate of 47.5%, you'd have to earn:
= $100,000 / (100% - 47.5%) = $210,526.
Jan 17th 2005, 7:10 am
#90
Just Joined
Joined: Jan 2005
Location: Melbourne
Posts: 7
Re: $80000 a year needed
Originally Posted by Quinkana
Replacement value of a household's goods would typically be $120,000 and probably be worth $20,000 if sold.
So to spend $100,000 on replacement at a marginal tax rate of 47.5%, you'd have to earn:
= $100,000 / (100% - 47.5%) = $210,526.
So to spend $100,000 on replacement at a marginal tax rate of 47.5%, you'd have to earn:
= $100,000 / (100% - 47.5%) = $210,526.