S/O Making it on $150k

Rappel

Thu, Mar 28 2024, 5:35 pm

amother Oxfordblue wrote:

Nope Israeli job. 47% taxes taken out. It wasn't even worth getting a higher paying job because more taxes. Seriously. He did better when he was in an American job than in an Israeli one. It was crazy. And if he ever got a bonus or additional income, even higher tax rate.

So many ppl want to buy and can't. Consider yourself blessed. In my age range, the only ppl buying were with help from parents or got an inheritance. It's a big issue for many and it's kind of silly to diminish it. Not sure where you live in Israel but the mortgage payment isn't the concern for most people. It's the 600k down-payment or more. Most ppl don't have it just plain and simple and won't be able to save up enough to do it (not to mention if you buy on paper you get nothing except four walls and need to spend even more to finish it)

We have done the math and it all evens out. In America you make more, but you spend on school and healthcare. In Israel you make less but you don't pay for those two expenses. You could only compare the two if you made 150k in America and kept that American salary in Israel. Then you can really compare (but even then you're getting killed on taxes)

I just looked up how much income you need in order to be taxed 47%.

https://www.kolzchut.org.il/he.....D7%94

That income bracket is the uber elite of Israel - less than 1 percent. I don't think you need to consider it a general problem for those living in Israel. Smile

amother

Amethyst

Thu, Mar 28 2024, 5:38 pm

watergirl wrote:

500k can get you a beautiful livable home in MANY frum cities. I'm thinking your standards are very high if you think otherwise. My home was under 200k (6 years ago) and if I sold it today I could sell it for 250k, and it's beautiful and livable. At your standards? No idea. Many would be thrilled with it.

Are you sure? I don't know where you live but I don't know ANY frum communities where you can buy a doghouse for 250k. And not too many non frum communities either, for that matter. I see people complaining about this exact issue on non Jewish forums as well.

amother

Oxfordblue

Thu, Mar 28 2024, 5:58 pm

amother Amethyst wrote:

Lol a doghouse

amother

Babypink

Thu, Mar 28 2024, 6:10 pm

In boro park, if u buy even a tiny house or condo, your mortgage will be over 5000. Many people paying 8k or more. It's not manageable. And every says, move out. It's not always an option. I have older parents who need help and I can't just leave them here. And no my father will not even entertain the thought of moving and having to adjust to a new shul, life...
It's crazy hard to make ends meet on 150k. Tuition is so high, rent is going higher by the day... and deep down I know that none of my own kids will ever be able to live here so if I want to be near them once they're married, ill probably have to relocate when I'm middle aged.

amother

Blonde

Fri, Mar 29 2024, 2:44 pm

amother OP wrote:

we send to mainstream litvish monsey schools. Without breaks, tuition is $10k-$15k depending on the school.

I meant $12k utilities, $1k month. This is a small overestimate. Though our home was built in the 60s and isn’t super efficient with heat/cooling.

That’s a very high tuition. I assume if you needed a break you’d get one.

amother

Fri, Mar 29 2024, 2:59 pm

amother Blonde wrote:

That’s a very high tuition. I assume if you needed a break you’d get one.

High compared to what? Only high compared to Lakewood.

YSV, the cheder, etc- all these mainstream monsey schools are about $12k tuition. Ohr reuven is closer to $16k and Some small yeshivish ones like Bais Mikvah anre closer to $10k. And sure many families are getting breaks but many families are not getting breaks, more than you think.

As far as I know, it’s the same in Passaic schools and many (not all) Brooklyn schools.