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How much do you need to make to live?
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amother




Purple


Post  Fri, Mar 01 2019, 2:00 pm
I pay 16k for tuition per child. We are a young family.(not a lot of kids) Own our house. (No morgage) and prob spend 200k a year.
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ROFL




 
 
 


Post  Fri, Mar 01 2019, 2:13 pm
My four kids are all out of the house for the last four years. I used to say you need $250,000 to just make it in the Tri state area. Now I would say 400-500,000. The more important question is what are you doing to earn that salary ? You have to invest in yourselves first so that you can have an income that can help you live that lifestyle.
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amother




Brunette


Post  Fri, Mar 01 2019, 3:11 pm
It really boggles my mind. We are a family of 5 making 125k/yr pre tax. Own a small fixer upper and two older cars. We buy wtvr we want pretty much I buy clothes and groceries takeout easily. Our tuition is about 15k. Another 12k student loans. Insurance through employer. We're always at a surplus bh! I can't imagine feeling tight at 300k!
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amother




Azure


Post  Fri, Mar 01 2019, 3:44 pm
amother wrote:
Dh and I are a young couple and Trying to figure out how much it costs a Jewish Family to live. Throwing out numbers here but say we have 6 kids and want to buy a nice house and drive 2 nice cars and pay tuition and buy nice clothing and go on vacation once in a while.
My job the most I can make would probably be 100k. Dh not sure yet. What are some realistic numbers? Is 300k living wealthy?

I make approximately 100k and let me tell you--it's not nearly as much as it sounds. I could make close to twice that if I worked more but I'd rather work a normal amount of hours and also have time to be a wife and mother. My husband makes about $80k. We have two kids, live in a small apartment "in town" so it's expensive, drive two decent SUVs, go on occasional vacation and get way too much take out. We're bh able to pay the bills but nowhere close to owning a nice house where we live.
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amother




Royalblue


Post  Fri, Mar 01 2019, 3:45 pm
amother wrote:
It really boggles my mind. We are a family of 5 making 125k/yr pre tax. Own a small fixer upper and two older cars. We buy wtvr we want pretty much I buy clothes and groceries takeout easily. Our tuition is about 15k. Another 12k student loans. Insurance through employer. We're always at a surplus bh! I can't imagine feeling tight at 300k!


15k tuition for 3 kids?
Are u a) getting a scholarship b)sending to chassidish yeshiva?
If your insurance is through your employer that is saving you a chunk of money.
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amother




Orchid


Post  Fri, Mar 01 2019, 4:19 pm
300k is not enough for it lifestyle with six kids. I have three kids. Live in Monsey in nice sized house (3000sq ft) I pay about 16-17k on tuition. No breaks. I do go on vacation a couple times a year, usually with extended family once and ourselves once. We make about 160k and bh are not tight. With six kids we would have to make a lot more money.
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amother




Azure


Post  Fri, Mar 01 2019, 4:22 pm
amother wrote:
300k is not enough for it lifestyle with six kids. I have three kids. Live in Monsey in nice sized house (3000sq ft) I pay about 16-17k on tuition. No breaks. I do go on vacation a couple times a year, usually with extended family once and ourselves once. We make about 160k and bh are not tight. With six kids we would have to make a lot more money.

How long have you been living in your house? Did you have help buying it? BecUse the numbers don't see to add up. Is the 160 gross or net? If gross we make slightly more than you and not close to owning. If net you make slightly more than us but can't imagine the difference spreads that far.
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amother




Pumpkin


Post  Fri, Mar 01 2019, 4:58 pm
amother wrote:
Aren't the property taxes deductible?


As far as I know now it’s jot worth deducting doesn’t work out. But for an investment property it is...
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Librarian




 
 
 


Post  Fri, Mar 01 2019, 5:11 pm
$300000 is not enough for the life you are describing in Monsey.
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Israeli_C




 
 
 


Post  Mon, Mar 04 2019, 5:28 am
Ravenclaw wrote:
define the word “live”

My thoughts exactly.
When I saw the title I started trying to calculate the cost of the basics, when suddenly people started talking about vacations and cars and summer programs for the kids...
There's a wide range between "how much do we need to survive?" and "how much do we need to keep up with the Cohens?"
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amother




Magenta


Post  Mon, Mar 04 2019, 7:44 am
Israeli_C wrote:
My thoughts exactly.
When I saw the title I started trying to calculate the cost of the basics, when suddenly people started talking about vacations and cars and summer programs for the kids...
There's a wide range between "how much do we need to survive?" and "how much do we need to keep up with the Cohens?"


Op clarified on page one that she's referring to a certain standard of living.
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amother




Dodgerblue


Post  Mon, Mar 04 2019, 9:00 am
Israeli_C wrote:
My thoughts exactly.
When I saw the title I started trying to calculate the cost of the basics, when suddenly people started talking about vacations and cars and summer programs for the kids...
There's a wide range between "how much do we need to survive?" and "how much do we need to keep up with the Cohens?"

Seems like op want to know how much they need to keep up with the cohens
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amother




Oak


Post  Mon, Mar 04 2019, 9:08 am
I think at 300k you can live comfortably in monsey. As in a 500-600,000 house (newer areas are cheaper) (3700 mortgage and tax) pay 5 full
Tuitions (55k), two cars (600-750 a month), assuming you get health insurance from work, vacation to Florida (using points and another 1000), summer camps (9000-10,000) food- 1500
Misc- 1000
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amother




Forestgreen


Post  Mon, Mar 04 2019, 9:09 am
amother wrote:
Seems like op want to know how much they need to keep up with the cohens


She's entitled to aspire to that, even if not everyone else wants that life. And it's good that she's finding out just how much that lifestyle costs.
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