family of four trying to live in NYC on 400k

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  • asians are awesome
    2 years ago 03/08/2018 11:52am CST
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    Basically it's impossible. Before you scream TROLL remember that

    -daycare in this city costs as much as your mortgage and probably more
    -a 2 bedroom in a nice area is going to run $4000 minimum, probably more
    -the effective tax rate on "high" income couples is near 50% (take home is $18,000 per month)
    -student loans
    -private school after day care (public schools are a nightmare unless your kids go to Stuyvesant, etc)

    Add it all up and that 18k take home pay turns into 2k in a flash.
  • fat but fit
    2 years ago 03/08/2018 12:06pm CST
    re: asians are awesome
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    Move to a city with a lower cost of living.
  • Personal Problem
    2 years ago 03/08/2018 12:08pm CST
    re: asians are awesome
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    NYC is an overpriced, third-world s**thole. If you really cared about your wife and kids you'd move them the heck outta there.

    Dirty air, dirty people, crime, terrorism, gang violence, bed bugs, angry New Yorkers, ridiculous prices for everything, no chirping birds, nowhere to park, terrible for exercising.

    I'd hang myself within minutes if I had to live there.
  • asians are awesome
    2 years ago 03/08/2018 12:11pm CST
    re: Personal Problem
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    Personal Problem wrote:

    NYC is an overpriced, third-world s**thole. If you really cared about your wife and kids you'd move them the heck outta there.

    Dirty air, dirty people, crime, terrorism, gang violence, bed bugs, angry New Yorkers, ridiculous prices for everything, no chirping birds, nowhere to park, terrible for exercising.

    I'd hang myself within minutes if I had to live there.


    Third World? Crime? NYC is one of the safest cities in America, and if you just look at Manhattan you won't find another big city with as low of a violent crime rate.

    Not even going to engage you on the other points. Go back to Kansas and fry some baloney.
  • Personal Problem
    2 years ago 03/08/2018 12:18pm CST
    re: asians are awesome
    Forum Index
    asians are awesome wrote:

    Personal Problem wrote:

    NYC is an overpriced, third-world s**thole. If you really cared about your wife and kids you'd move them the heck outta there.

    Dirty air, dirty people, crime, terrorism, gang violence, bed bugs, angry New Yorkers, ridiculous prices for everything, no chirping birds, nowhere to park, terrible for exercising.

    I'd hang myself within minutes if I had to live there.


    Third World? Crime? NYC is one of the safest cities in America, and if you just look at Manhattan you won't find another big city with as low of a violent crime rate.

    Not even going to engage you on the other points. Go back to Kansas and fry some baloney.


    Gladly. Enjoy the urine-scented subways and soul-crushing congestion.
  • Gravy
    2 years ago 03/08/2018 12:19pm CST
    re: asians are awesome
    Forum Index
    Are you bragging or whining?
  • snow blow
    2 years ago 03/08/2018 12:30pm CST
    re: asians are awesome
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    Pay off your own student loans before sending your kids to private schools. Also, if you're paying $4000 a month to live in a "nice area", then why would the public schools there be a "nightmare"?
  • Fun places to visit
    2 years ago 03/08/2018 12:34pm CST
    re: asians are awesome
    Forum Index
    Move to SF. I heard everything there is cheaper...
  • just defending the OP for a sec
    2 years ago 03/08/2018 12:38pm CST
    re: fat but fit
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    fat but fit wrote:

    Move to a city with a lower cost of living.


    Then you no longer make 400k because that job either doesn't exist or pays a fraction of what it does in NYC.
  • Downsizing
    2 years ago 03/08/2018 12:45pm CST
    re: just defending the OP for a sec
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    Sounds like OP's lifestyle wasn't prepared to support the kids he decided to have. I'd say you're left with either downsizing expenses in some way or selling a child or two.
  • JMo
    2 years ago 03/08/2018 12:45pm CST
    re: just defending the OP for a sec
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    I live in a low cost rust belt city and have always said that I would want $750k minimum to live in NYC and feel like it was "comparable" (obviously you can live on so much less). While I recognize that NYC has restaurants, culture, shopping, sports, etc. I discount that in light of congestion, commute, high cost, etc. While I don't sympathize with the OP, I accept that the amount of income to live comfortably in NYC is wildly different than most other small cities.
  • fat but fit
    2 years ago 03/08/2018 12:50pm CST
    re: just defending the OP for a sec
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    just defending the OP for a sec wrote:

    fat but fit wrote:

    Move to a city with a lower cost of living.


    Then you no longer make 400k because that job either doesn't exist or pays a fraction of what it does in NYC.


    I guess I could elaborate a bit more. Given his income, I'm assuming the OP has a good job that is in demand is smaller cities. He'd almost certainly be paid less in smaller cities, but I'm willing to bet he could slash of a significant amount of his living expenses as well, which would increase his take home pay. He said daycare and private school are expensive, so maybe he could find a city with good public schools so he doesn't need to pay for private. And just about any city has cheaper housing costs than NYC so he'd save money there too.
  • HB Crouse
    2 years ago 03/08/2018 12:53pm CST
    re: fat but fit
    Forum Index
    Move to Jersey
  • asfasdfadsfs
    2 years ago 03/08/2018 1:17pm CST
    re: asians are awesome
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    I went to Hunter, my brother went to Stuy. Sorry all that money couldn't buy you smarter kids.
  • Snoreville
    2 years ago 03/08/2018 1:19pm CST
    re: asians are awesome
    Forum Index
    This bit has been done to death, by better trolls than you.
  • Brooklyndan
    2 years ago 03/08/2018 1:33pm CST
    re: asfasdfadsfs
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    asfasdfadsfs wrote:

    I went to Hunter, my brother went to Stuy. Sorry all that money couldn't buy you smarter kids.

    Did you run for Mendes?
  • 100m
    registered
    2 years ago 03/08/2018 1:44pm CST
    re: Personal Problem
    Forum Index
    The best solution is to live in Fairfield or Westchester County. I wouldn't subject my wife and kids to NYC living. It's an absolute zoo.
  • Karl Hungus
    registered
    2 years ago 03/08/2018 1:56pm CST
    re: asians are awesome
    Forum Index
    Move to Jersey?
  • Dave F In Ramsey
    2 years ago 03/08/2018 2:11pm CST
    re: 100m
    Forum Index
    My wife and I make $365K. We live in NH. No sales tax, no income tax. We save nearly 100K per year, send our kids to eye wateringly expensive but really good private schools and we live in a 2500 Sq foot $500K house with a 150 K mortgage that we pay $1045 a month on. Our property taxes are 6K per year.

    Why the f would anyone want to live in NYC?
  • Brooklyndan
    2 years ago 03/08/2018 2:13pm CST
    re: asians are awesome
    Forum Index
    I'm raising two sons on a teacher's salary. My wife stayed at home until my younger son was 5 and will work part time for another year. We are able to save and invest. Live within your means. There are cheap safe areas with decent schools 25 minutes out of mid Manhattan.