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Surrey to LA

Surrey to LA

Old Jul 25th 2023, 12:43 am
  #46  
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Default Re: Surrey to LA

Originally Posted by PetrifiedExPat
Trying to help the OP a bit more, rather than pessimistic (me, not you). Do you have any insight as to current childcare/daycare costs?

Also, for a young/mid-age professional with family, would 220k be enough? Hard to answer but my gut feeling is no. Although, rent/childcare etc etc does all factor in
I really can’t say about child care; not in my orbit these days, being retired and all.

As I indicated, due to circumstances, my housing costs are quite low.

That said, I do know young professional families with children in government jobs whose combined salaries are less than $220K who appear to live fairly well. But I am not party to their finances.
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Old Jul 25th 2023, 1:56 pm
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Default Re: Surrey to LA

Originally Posted by Pulaski
See post #21 - definitely doable, assuming that rent of acceptable housing can be held to a reasonable budget, and they don't buy fancy cars and eat out too often. If they allow the housing budget to be broken, things could get tight very quickly.
A thorough summary, maybe too conservative with some of the costs, but no need to adjust numbers. If a long term move having a good savings strategy (401k, taxable accounts, IRA's etc) should be a priority and will take a larger bite.

I say should, that's just me.
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Old Jul 25th 2023, 3:18 pm
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Default Re: Surrey to LA

Originally Posted by PetrifiedExPat
A thorough summary, maybe too conservative with some of the costs, but no need to adjust numbers. If a long term move having a good savings strategy (401k, taxable accounts, IRA's etc) should be a priority and will take a larger bite.

I say should, that's just me.
Yes, the numbers are debatable, they always are, but, saving $100/mth here and $200 there isn't going to change the overall picture enough to make a real difference when tax and rent are going to take 60% of your gross income and there is nothing much you can do about that. And I think there are likely as many "unders" as "overs" on my draft budget. Even as I posted it I realised that $250/mth on clothing for a family of four isn't going to go very far, especially when two are small children and are going to need new clothes frequently, and $250/mth for gas may be inadequate, even in LA, given the high price of gas there.

There are also people who consider that HBO and/or ESPN are "essential" - my inlaws are always grumbling about household expenses now that they are fully retired, and probably didn't save as much as they should have for retirement, but they "must" have a cable package that includes the Golf Channel, and there is no cheap way to get that on their cable TV package. They could save a little by shifting to streaming, but Mrs P and I aren't optimistic about them being able to adjust to the different technology.

Last edited by Pulaski; Jul 25th 2023 at 3:30 pm.
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Old Jul 25th 2023, 8:06 pm
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Default Re: Surrey to LA

Originally Posted by Pulaski
There are also people who consider that HBO and/or ESPN are "essential" - my inlaws are always grumbling about household expenses now that they are fully retired, and probably didn't save as much as they should have for retirement, but they "must" have a cable package that includes the Golf Channel, and there is no cheap way to get that on their cable TV package. They could save a little by shifting to streaming, but Mrs P and I aren't optimistic about them being able to adjust to the different technology.
Opium for the masses (much like religion...)
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Old Jul 28th 2023, 6:36 pm
  #50  
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Default Re: Surrey to LA

You really can’t compare because you have to look at an individuals own costs. 2 people could live in identical apartments and based on if they brought and when or rent one could be paying double of the other based on time of purchase / ability to refi or have a low initial rate etc…

The op has said they own a house almost mortgage free… most people who are moving for work from one side of the US to the other would sell their house/apt and use the funds to buy another… if the OP did that they would likely not have a large monthly mortgage payment and would be able to live of the $220k salary without an issue.

this article mentions a similar figure around $230k:
https://www.cnbc.com/amp/2023/07/24/...etirement.html




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Old Jul 28th 2023, 6:56 pm
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Default Re: Surrey to LA

Originally Posted by tht
The op has said they own a house almost mortgage free… most people who are moving for work from one side of the US to the other would sell their house/apt and use the funds to buy another… if the OP did that they would likely not have a large monthly mortgage payment and would be able to live of the $220k salary without an issue.
Rental income from mortgage-free properties can also provide an additional stream of revenue even if not selling.
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