Help calculate net pay please and also is this liveable?

33055

Sun, Oct 01 2017, 9:47 am

amother wrote:

Take home of 113k with 6 dependents according to payroll calculator is 87k.

Yup. It is around an extra $77 a week. I did say roughly.

Iymnok

Sun, Oct 01 2017, 10:19 am

Look into nearby communities. From what I've heard, Boston is expensive. We have friends in Providence who say that many commute in from there. I'm sure there are a few similar options. Keep in mind that different states have different taxes. Look at the schools and tuitions in each of those communities.
Decide how long of a commute you are willing to endure, and choose communities based on that.
I think housing and tuition are the biggies here. The rest should be similar regardless of location.
Does the company have health insurance?

Kumphort

Sun, Oct 01 2017, 11:11 am

Also keep in mind if your moving fromisrael do you need to furnish a house/apt? Do you have winter wardrobe? These are one time expenses that can add up

devo1982

Sun, Oct 01 2017, 12:31 pm

It is going to be very tight, I'm not going to lie. I don't know what rents are like in Malden, but I think they're still marginally cheaper than in Boston. You can check out Zillow.com for an idea of what rents are currently running for in the area. The shul offers housing and tuition incentives: http://bethisraelmalden.org/incentives/

Rent is insane here, even before you factor in all the other costs of Jewish life. A quick search on Zillow shows 3+ bedroom properties running for between $2000-$3500/month in the vicinity of the shul. It's an up and coming area with the changes at Assembly Row (Somerville) and Meadow Glen Mall/Station Landing - there's a lot of condos going up, and high demand. The area is rapidly gentrifying.

amother

Forestgreen

Sun, Oct 01 2017, 12:48 pm

amother wrote:

Use this calculator to figure out net pay.
https://www.adp.com/tools-and-......aspx
Then find out how much tuition is for 5 kids, rent, health insurance, car insurance, food, and see where you're up to.

This calculator seems to overestimate by a lot.

amother

Seashell

Sun, Oct 01 2017, 12:49 pm

Having started a new job recently with a similar salary, assume that you'll see 70% of it, possibly less if you save to 401k and health insurance costs for a family. I don't see 40% of my pay. It's gone to taxes. Some to health insurance. Part to our retirment. Those calculators were all wrong from when I saw my 1st check.

amother

Seafoam

Sun, Oct 01 2017, 12:54 pm

amother wrote:

The taxes part is very accurate with the ADP calculator if you put in the correct state and # of dependants. I knew to take into account that a lot more would be deducted for health insurance and 401k if I wanted that.

amother

Forestgreen

Sun, Oct 01 2017, 1:00 pm

amother wrote:

The taxes part is very accurate with the ADP calculator if you put in the correct state and dependants. I knew to take into account that a lot more would be deducted for health insurance and 401k if I wanted that.

I put in the correct info, but it still overestimates by a lot.

Bsimcha

Sun, Oct 01 2017, 1:40 pm

Priorities should be neighborhood for rent, schools and commuting, type of shul.
Once you pick the neighborhood, you'll have an idea of rent and schooling, your biggest expenses.

amother

Seafoam

Sun, Oct 01 2017, 1:43 pm

amother wrote:

I put in the correct info, but it still overestimates by a lot.

Not my experience. Have you filed a full 12 month tax year yet on your new salary? I found that when taxes were calculated at a rate lower than what the ADP calculator predicted we end up owing money to the IRS at the end of the year.

amother

Aqua

Mon, Oct 02 2017, 6:19 am

Thanks for all the replies.
What would you say the pre tax income should be to live comfortably?
Like I said that was an initial offer. I can probably ask them for a bit more.
If I can get them to go up like 5% which will bring it to 118k. Would that be doable?

amother

Ecru

Mon, Oct 02 2017, 6:52 am

amother wrote:

Wow. How am I making in work in new york on 65k?

You make 65k with 4-5 kids in the ny area?? Get no parental help? Send your kids to Yeshiva? Please do tell me your secret? I am truly asking not being sarcastic.

amother

Indigo

Mon, Oct 02 2017, 9:15 am

amother wrote:

I estimated using this calculator before I began my new job. I was pleasantly surprised to receive my first paycheck- more than expected

chestnut

Mon, Oct 02 2017, 9:56 pm

OP - will the employer provide the medical/dental insurance or contribute partially?

amother wrote:

You make 65k with 4-5 kids in the ny area?? Get no parental help? Send your kids to Yeshiva? Please do tell me your secret? I am truly asking not being sarcastic.

I'm not that amother, but, say, Chassidishe schools are cheap. Tuition breaks. Or maybe she just doesn't have 4-5 kids.

amother

Aqua

Tue, Oct 03 2017, 1:03 am

chestnut wrote:

OP - will the employer provide the medical/dental insurance or contribute partially?

I'm not sure yet.
Is it such a game changer in the u.s? How much does health insurance cost in the u.s?

amother

Scarlet

Tue, Oct 03 2017, 1:05 am

amother wrote:

I'm not sure yet.
Is it such a game changer in the u.s? How much does health insurance cost in the u.s?

So so much it's a huge game changer- $15k-$25k easy.