BobBob wrote on Mar 2, 2017, 11:30:
WTF

That's California for ya.

WTF

Beamer wrote on Mar 1, 2017, 22:33:
On this note, a company reached out to me today to interview for a job in downtown Chicago. They'd increase my salary, and offer a 60% bonus over a 30% bonus. It'd ultimately be a $86,000 raise, though much of that $86,000 would be bonus and taxed somewhere in the vicinity of 50%.

It's downtown Chicago, not even an hour commute, but... Chicago is one of the few cities I know no one. Is $86,000 pre-tax really worth it? I get that, to some, that's a horrifically obnoxious question, but still one I need to ask. Not even like I have the offer, just a first round with HR.

Not sure about Chicago or the state of Illinois but from a Fed level you usually benefit from a good sized refund. My bonuses in California are taxed at a high amount (like 50%). Between my salary and bonuses, I paid something like $12K in taxes and I was still able to get a decent return. I also have a mortgage and pay property taxes so that refund is even higher. One more reason to buy a home. Best long term investment ever!

Around here, a house can be easily afforded ranging from $800,000 up to $20 / $30 million +. It really depends on your scope. I'd say about 1 million or 1.5 million will get you a good starter house. Very affordable. It's a different story here in SoCal vs. NoCal.

On this note, a company reached out to me today to interview for a job in downtown Chicago. They'd increase my salary, and offer a 60% bonus over a 30% bonus. It'd ultimately be a $86,000 raise, though much of that $86,000 would be bonus and taxed somewhere in the vicinity of 50%.

It's downtown Chicago, not even an hour commute, but... Chicago is one of the few cities I know no one. Is $86,000 pre-tax really worth it? I get that, to some, that's a horrifically obnoxious question, but still one I need to ask. Not even like I have the offer, just a first round with HR.

The hell then I read the story about this guys problems, ain't nothing on this guys...

"For instance, a tech worker named Michael who earned $700,000 last year finally got frustrated by his 2.5-hour commute and inability to land a house closer to work in San Jose."

700K and couldn't find a place to live? I live less than 2.5 hours away and fuck I'd have 600K to do whatever the hell i'd want. Also know the area and lets say he can't get into SJ, I wasn't aware nothing was available. He can totally find a place no more than 45 minutes out and make a killing at 700k. Insert fake news theme.

dubfanatic wrote on Mar 1, 2017, 19:18:
Exactly. I spent my 20s in the big city with the hip culture and hot nightlife. It was fun, and I'm glad I did it (especially since my condo went way up in value since I bought it) but now I'm in my 30s and the noise, crime, and extreme left-wing politics were getting old. And there's no way I'm going to raise kids in that environment. Now I'm in the suburbs with an eye to move to a smaller metro area.

I hear Galt is nice this time of year. Their flea market is off the chain!

dubfanatic wrote on Mar 1, 2017, 13:48:

Cutter wrote on Mar 1, 2017, 12:01:
It never ceases to amaze me. All these people want to live in the big, cool city...just like several million other people...and then bitch about everything being so expensive. It's a big country. Plenty of places with a low cost of living where you can still make good money. All their woes are entirely self-made.

Yeah, but those places aren't cool. Plus, you might have to live around *gasp* Trump supporters...

Well hell, that last one -is- a valid issue. I know -I- would be willing to shell out a pretty penny to get away from them.

Cutter wrote on Mar 1, 2017, 19:04:
I suppose it all depends on the company and it's culture. Obviously those with a young culture are going to want the big city. But for everything not them, and there's a hell of a lot more of that out there, with people from starting a family onward to those in their 30s, and 40+ crowd more likely, A nice, safe, quiet place with a cheaper cost of living is much more important. If you're writing software for a real estate or trucking company, it's not sexy but odds are you're in that latter category.

Exactly. I spent my 20s in the big city with the hip culture and hot nightlife. It was fun, and I'm glad I did it (especially since my condo went way up in value since I bought it) but now I'm in my 30s and the noise, crime, and extreme left-wing politics were getting old. And there's no way I'm going to raise kids in that environment. Now I'm in the suburbs with an eye to move to a smaller metro area.

jdreyer wrote on Mar 1, 2017, 18:20:
Except that the high-end employees you need for that kind of work have expectations of a fun lifestyle that can't be had in Lincoln, Nebraska.

I know a pretty good developer who lived in Honolulu. While he liked the surf and sea, he got bored after a couple of years and got a new job in L.A. He's much happier there, being able to take road trips to Mexico and Tahoe, go to Lakers games, experience L.A. nightlife, etc. etc. Been there a decade now.

I suppose it all depends on the company and it's culture. Obviously those with a young culture are going to want the big city. But for everything not them, and there's a hell of a lot more of that out there, with people from starting a family onward to those in their 30s, and 40+ crowd more likely, A nice, safe, quiet place with a cheaper cost of living is much more important. If you're writing software for a real estate or trucking company, it's not sexy but odds are you're in that latter category.

jdreyer wrote on Mar 1, 2017, 18:30:
You need to read what DMan wrote:

Dman20 wrote on Mar 1, 2017, 09:49:
Pending medical and exact taxes he's probably bringing home 65% of his pay after (401k, medical, fed taxes, state taxes, etc), so roughly 104k, 36k in rent later your down to 68k of usable income.

So he still has quite a bit left. I live in an expensive market, but I don't pull in anywhere near $160K. I'd love to. Would make my life so much easier.

But we have no idea what his expenses are except for the rent. The rest is a complete unknown.

Yeah, what's he doing, paying $2K a month for his kids to attend private school?

For all we know he pays that much for each one of his 3 kids and is also putting his wife through college. Plus he could be responsible for his mothers chemo.

And lets not forget the tricked out jetski's, vacations, storage unit and shiny Tesla.

jdreyer wrote on Mar 1, 2017, 18:30:
You need to read what DMan wrote:

Dman20 wrote on Mar 1, 2017, 09:49:
Pending medical and exact taxes he's probably bringing home 65% of his pay after (401k, medical, fed taxes, state taxes, etc), so roughly 104k, 36k in rent later your down to 68k of usable income.

So he still has quite a bit left. I live in an expensive market, but I don't pull in anywhere near $160K. I'd love to. Would make my life so much easier.

Thanks for the insight. I have to say $68K of available income is still significant. People's entire salaries are less than $68K. Perhaps this is a simple assessment, but it would seem to me if it's hard to live on $160K they're doing something clumsily. The first rule of any household should be to budget income and know where every dollar goes.

Kxmode wrote on Mar 1, 2017, 16:55:
$36,000 for rent doesn't explain where the remaining $124,000 goes. Even if you include essentials, there's no way someone making that much cannot meet their financial obligations in the Bay area (regardless of how expensive it is to live there). The only way they are barely scraping by is if they're living out of their means or without a budget. Except the very wealthy, constantly dining at expensive restaurants and taking in expensive entertainment is going to kill anyone's checking account. Not all, but many making $160K tend to live lifestyles that never bring them contentment. They always have to keep up with their neighbors. They always have to spend on things. They consume material things. There are plenty of people making ends meet on significantly less.

The only thing that came to my mind while reading this was #OnePercentFirstWorldProblems

You need to read what DMan wrote:

Dman20 wrote on Mar 1, 2017, 09:49:
Pending medical and exact taxes he's probably bringing home 65% of his pay after (401k, medical, fed taxes, state taxes, etc), so roughly 104k, 36k in rent later your down to 68k of usable income.

So he still has quite a bit left. I live in an expensive market, but I don't pull in anywhere near $160K. I'd love to. Would make my life so much easier.

HorrorScope wrote on Mar 1, 2017, 17:41:

Dman20 wrote on Mar 1, 2017, 09:49:
Pending medical and exact taxes he's probably bringing home 65% of his pay after (401k, medical, fed taxes, state taxes, etc), so roughly 104k, 36k in rent later your down to 68k of usable income.

68k after rent is paid isn't bad at all, over 5k clear a month.

Yeah, what's he doing, paying $2K a month for his kids to attend private school?

jdreyer wrote on Mar 1, 2017, 18:14:

dubfanatic wrote on Mar 1, 2017, 13:48:

Cutter wrote on Mar 1, 2017, 12:01:
It never ceases to amaze me. All these people want to live in the big, cool city...just like several million other people...and then bitch about everything being so expensive. It's a big country. Plenty of places with a low cost of living where you can still make good money. All their woes are entirely self-made.

Yeah, but those places aren't cool. Plus, you might have to live around *gasp* Trump supporters...

Trump supporters? In the Bay Area? Besides Peter Thiel, I mean.

I think what he meant was your neighbors are more likely going to be supporters of the orange twitter troll if you move to an area with a lower cost of living.

Cutter wrote on Mar 1, 2017, 14:31:

dubfanatic wrote on Mar 1, 2017, 13:48:

Cutter wrote on Mar 1, 2017, 12:01:
It never ceases to amaze me. All these people want to live in the big, cool city...just like several million other people...and then bitch about everything being so expensive. It's a big country. Plenty of places with a low cost of living where you can still make good money. All their woes are entirely self-made.

Yeah, but those places aren't cool. Plus, you might have to live around *gasp* Trump supporters...

That's another thing. So many corporations are in big cities that have absolutely no need to be there. They could be doing themselves and their employees a massive favor by relocating to cheaper places.

Except that the high-end employees you need for that kind of work have expectations of a fun lifestyle that can't be had in Lincoln, Nebraska.

I know a pretty good developer who lived in Honolulu. While he liked the surf and sea, he got bored after a couple of years and got a new job in L.A. He's much happier there, being able to take road trips to Mexico and Tahoe, go to Lakers games, experience L.A. nightlife, etc. etc. Been there a decade now.

dubfanatic wrote on Mar 1, 2017, 13:48:

Cutter wrote on Mar 1, 2017, 12:01:
It never ceases to amaze me. All these people want to live in the big, cool city...just like several million other people...and then bitch about everything being so expensive. It's a big country. Plenty of places with a low cost of living where you can still make good money. All their woes are entirely self-made.

Yeah, but those places aren't cool. Plus, you might have to live around *gasp* Trump supporters...

Trump supporters? In the Bay Area? Besides Peter Thiel, I mean.

The problem is that the people moving to the bay area have outstripped new housing 3 to 1.

I live in a similar market: the price of real estate here has tripled over the past 15 years due to no low to middle income housing being built. Only high-rises in the $1-2M per unit are being developed, so prices (and rents) have skyrocketed. Good if you got in when things were reasonable, shitty for everyone else.

Dman20 wrote on Mar 1, 2017, 09:49:
Pending medical and exact taxes he's probably bringing home 65% of his pay after (401k, medical, fed taxes, state taxes, etc), so roughly 104k, 36k in rent later your down to 68k of usable income.

68k after rent is paid isn't bad at all, over 5k clear a month.

$36,000 for rent doesn't explain where the remaining $124,000 goes. Even if you include essentials, there's no way someone making that much cannot meet their financial obligations in the Bay area (regardless of how expensive it is to live there). The only way they are barely scraping by is if they're living out of their means or without a budget. Except the very wealthy, constantly dining at expensive restaurants and taking in expensive entertainment is going to kill anyone's checking account. Not all, but many making $160K tend to live lifestyles that never bring them contentment. They always have to keep up with their neighbors. They always have to spend on things. They consume material things. There are plenty of people making ends meet on significantly less.

The only thing that came to my mind while reading this was #OnePercentFirstWorldProblems

This comment was edited on Mar 1, 2017, 17:06.