NZ Opportunity

Old Aug 17th 2022, 10:55 am
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Default NZ Opportunity

Hi all,

Could anyone advise if a salary of $200k-£240k NZD is a good salary for a family of 4 (2 kids under the age of 6). Assuming 1 adult working full time.
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Old Aug 17th 2022, 6:35 pm
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Default Re: NZ Opportunity

Depends where you want to live, and what you hope to live in.
It is certainly survivable.
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Old Aug 17th 2022, 6:48 pm
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Originally Posted by LittleGreyCat
Depends where you want to live, and what you hope to live in.
It is certainly survivable.

initially it would Auckland based…not sure if that helps?
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Old Aug 18th 2022, 10:38 am
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It's 4 times the average working wage
I guess it depends on the standard of living you are used to and expect
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Old Aug 18th 2022, 10:37 pm
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I don’t have a mortgage, just bills to pay for an average 150m2 home. I live in a small town. I live alone, am almost 65, I drive an older car. I have car, contents and buildings insurance. I have streaming service and I belong to a gym. The point is I have a fair few bills. That said I don’t waste money. I do most things myself including repairs.

I get by on around $30 to $35kNZ a year after tax and I do go to the dentist (spent about 3k on that this year alone) and getaway for weekends now and then and have what I would call a comfortable life and eat well and also eat out now and then.

So, unless you are going be saddled with a ridiculously expensive mortgage I would say you will do well on that kind of money.

Last edited by Genesis; Aug 18th 2022 at 10:40 pm.
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Old Aug 18th 2022, 11:56 pm
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$240k would be considered within the top 1% and probably is what you might expect a Doctor would earn, so is for sure in the higher echelons however does of course depend on your lifestye and what you would ordinarily expect to be able to afford. Many Aucklanders will be acheiving more than $200k as a household income; i.e. With two incomes and likely would not consider themselves as being particularly well off, espcially if they have kids. Houses in Auckland are notoriously expensive and impossible for anyone here to determine if affordabable for you. You need to allow approx $1.5m for a fairly standard family home in a nice area and affordability of that would depend entirely on the size of mortgage you require. You need to factor in Interest rates which are steadily creeping up, so what is affordable today may not be the case next year.

Auckland has limited public transport, so both of you likely would need a decent car (a) for ferrying kids around and (b) for commuting (AKA sitting in Auckland traffic).
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Old Aug 20th 2022, 11:16 pm
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Default Re: NZ Opportunity

with kids you will need to factor in cost of schooling, kids clubs and childcare if needed. Health care is not free so you will also need to factor that in.
on that salary you will be in the top tax bracket and you are taxed on every penny, check out the IRD calculator https://www.ird.govt.nz/index/calcul...sort=relevancy, this will show what you may be liable for for salary and other income.
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Old Aug 23rd 2022, 7:41 am
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"An average family of four in Auckland would need a combined income of around $111,150 annually after tax and Kiwisaver contributions to live comfortably. Including tax, ACC and a three percent contribution to Kiwisaver, the family would need to earn around $162,600 annually" says https://www.newshub.co.nz/home/money...w-zealand.html
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Old Aug 30th 2022, 9:04 pm
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Default Re: NZ Opportunity

I am scratching my head at some of the answers on here
Yes you can live very comfortably on a wage of $200k-£240k NZD and if you are bringing money with you then it will be even even easier.
You say that initially it would Auckland based so all you need to do is not put all your financial eggs in one basket so to speak until you eventually move out of there.
Auckland is not a good place to live in my humble opinion but each to their own I suppose.
It is over populated, overpriced and under policed - especially in South Auckland which is crime central compared to most of the rest of NZ.
If you can't survive on that kind of money then you clearly need to look at your lifestyle
.
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Old Aug 31st 2022, 9:54 am
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Default Re: NZ Opportunity

Originally Posted by Bermondsey George
I am scratching my head at some of the answers on here
Yes you can live very comfortably on a wage of $200k-£240k NZD and if you are bringing money with you then it will be even even easier.
You say that initially it would Auckland based so all you need to do is not put all your financial eggs in one basket so to speak until you eventually move out of there.
Auckland is not a good place to live in my humble opinion but each to their own I suppose.
It is over populated, overpriced and under policed - especially in South Auckland which is crime central compared to most of the rest of NZ.
If you can't survive on that kind of money then you clearly need to look at your lifestyle
.
You are right in a way, unfortunately a lot of people who are in that salary bracket seem to struggle more. It's easy to get carried away and they move to a high cost area, want the bigger house, bigger car and the pool seemed affordable at the time. The kids have expensive hobbies and there's always the risk that the job today is not the job you have tomorrow. On the radio you hear people complain all the time and it's often those who have kids saying they can't afford the cost of living and then the next child is on the way.

Last edited by Moses2013; Aug 31st 2022 at 10:03 am.
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Old Aug 31st 2022, 11:03 am
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Default Re: NZ Opportunity

Originally Posted by Moses2013
You are right in a way, unfortunately a lot of people who are in that salary bracket seem to struggle more. It's easy to get carried away and they move to a high cost area, want the bigger house, bigger car and the pool seemed affordable at the time. The kids have expensive hobbies and there's always the risk that the job today is not the job you have tomorrow. On the radio you hear people complain all the time and it's often those who have kids saying they can't afford the cost of living and then the next child is on the way.
we’re definitely not looking to expand the family!! 😅

we aren’t flash people and don’t even have two cars here in the UK…not because we can’t afford it but more to do with not needing two 100% of the time. Yes on occasion have a bugger car and/or and additional car helps but it’s very few inbetween.

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Old Aug 31st 2022, 11:05 am
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Originally Posted by Bo-Jangles
$240k would be considered within the top 1% and probably is what you might expect a Doctor would earn, so is for sure in the higher echelons however does of course depend on your lifestye and what you would ordinarily expect to be able to afford. Many Aucklanders will be acheiving more than $200k as a household income; i.e. With two incomes and likely would not consider themselves as being particularly well off, espcially if they have kids. Houses in Auckland are notoriously expensive and impossible for anyone here to determine if affordabable for you. You need to allow approx $1.5m for a fairly standard family home in a nice area and affordability of that would depend entirely on the size of mortgage you require. You need to factor in Interest rates which are steadily creeping up, so what is affordable today may not be the case next year.

Auckland has limited public transport, so both of you likely would need a decent car (a) for ferrying kids around and (b) for commuting (AKA sitting in Auckland traffic).

this is really informative thank you for your time pulling this together.
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