S/O salary enough to live in tri state area

amother

Mon, May 09 2022, 9:18 pm

Curious how much you think a good salary is in tristate area with family of 5 and has a mortgage.

amother

Pink

Mon, May 09 2022, 9:19 pm

Really depends where in the tri state area… just check the tuition thread about the differences in costs between Lakewood and NY.

amother

Mistyrose

Mon, May 09 2022, 9:20 pm

To have all the “necessities” and some luxuries, pay full tuition (in yeshivish) world, not be on any programs - my estimate would be $250,000. Obviously there are lots of factors.

amother

Oak

Mon, May 09 2022, 9:21 pm

Make about 35k, get on all programs, get tuition breaks and you'll be better off than any salary quoted here. It's depressing but true. (Then move out of the tristate area soon as you can.)

amother

Mon, May 09 2022, 9:26 pm

After paying necessities and tuition, How much per month is a nice amount to be able to save/luxuries?

amother

Mistyrose

Mon, May 09 2022, 9:28 pm

amother [ OP ] wrote:

After paying necessities and tuition, How much per month is a nice amount to be able to save/luxuries?

?? Define necessities and luxuries
Is pizza once a week a luxury? Is buying your kids $150 Shabbos shoes twice a year a luxury? Is cleaning help a luxury? What if you have full time cleaning help… but you “need” it?
My necessities and your necessities aren’t the same. There are things I spend on (we get way too much take out!) and other things I don’t (I’m a master at finding clothes for 10% of the price everyone else pays!).

momallhours

Mon, May 09 2022, 9:29 pm

amother [ Oak ] wrote:

Make about 35k, get on all programs, get tuition breaks and you'll be better off than any salary quoted here. It's depressing but true. (Then move out of the tristate area soon as you can.)

And then what happens when there are weddings? And what happens to all the programs once the kids start getting married????

cupcake123

Mon, May 09 2022, 9:34 pm

amother [ Oak ] wrote:

Make about 35k, get on all programs, get tuition breaks and you'll be better off than any salary quoted here. It's depressing but true. (Then move out of the tristate area soon as you can.)

I disagree..that is a mindset that will keep you at 35k. Yes middle class is hard but usually people dont stay in middle class. Eventually they go up.
To answer OP in Lakewood (which is what I know prices for) I would say 150-200k

amother

Oak

Mon, May 09 2022, 9:36 pm

momallhours wrote:

And then what happens when there are weddings? And what happens to all the programs once the kids start getting married????

Hopefully by then you are long out of the tristate area and able to make a decent salary while putting away savings because your whole salary isn't going to your housing. I don't recommend this plan if you plan on living in the tristate area long term.

amother

Oak

Mon, May 09 2022, 9:37 pm

cupcake123 wrote:

Maybe for some people. It worked for me (but I have a degree and was able to use it later in life). The tristate are eats money.

I forgot to add to my original point - also be in klei kodesh.

amother

Mon, May 09 2022, 9:37 pm

cupcake123 wrote:

Thank you for answering the question ;-)

amother

Kiwi

Mon, May 09 2022, 9:39 pm

Minimum $200,000 but that’s in Lakewood area. Five towns for example you need way more. So really depends where the tri state area is too much of a range.

amother

Poppy

Mon, May 09 2022, 10:32 pm

cupcake123 wrote:

Sounds low. We make 100k combined, living in a basement with 2 kids and we are tight. Childcare is a fortune, groceries are a fortune..

amother

Winterberry

Mon, May 09 2022, 10:38 pm

We live in Flatbush, have 5 children, send to Flatbush schools. Make 230 and we’re not even breaking even. In the red every single month. We don’t do any luxury things. No cleaning help. No vacations. I think we need around 400 min to b able to survive and save

amother

Viola

Mon, May 09 2022, 10:43 pm

Moving OOT isn't the panacea ppl think it is. You don't have many school options and if the local school isn't working out you're pretty much stuck.

We are moving back to NYC for chinuch reasons. We won't be making big bucks but hope we can figure out a way to survive. Not having decent schools and having all my kids live away from home isn't fun either.

What's the point of having a big house if most of our kids don't even live here!!!

amother

Mistyrose

Mon, May 09 2022, 10:45 pm

amother [ Poppy ] wrote:

Sounds low. We make 100k combined, living in a basement with 2 kids and we are tight. Childcare is a fortune, groceries are a fortune..

I think 60k- 120k is like a red zone. Not enough to save much less splurge and no programs.

amother

Mon, May 09 2022, 11:40 pm

amother [ Mistyrose ] wrote:

I think 60k- 120k is like a red zone. Not enough to save much less splurge and no programs.

Before or after taxes?

amother

Hawthorn

Mon, May 09 2022, 11:43 pm

I live in Lakewood, family of 6, $150k before taxes, enough to live simply and put away some.

amother

Mistyrose

Tue, May 10 2022, 12:00 am

amother [ OP ] wrote:

Before or after taxes?

Before
But again this is just my feeling based on my experience… some people make it fine on 120 or less living very frugally, some people have huge expenses that I don’t have any need way more. For example kids therapies not covered by insurance

amother

Taupe

Tue, May 10 2022, 12:24 am

I would say 250k to live comfortably. We’re a fam of 5 (will be a fam of 6 very soon 9th) earn approx 280-300k combined pre tax, (one of us freelance so it varies) own a home and can afford a splurge here and there, and we manage to save around 40-50k too including retirement plans. We live in the monsey area and bought a house a few years ago before the market became crazy….