Can You Live Off Of 70k A Year?

Can you live in NYC on 40k?

Yes you can, you won’t live the life of luxury and you won’t be living on the island, but you can work and live in the five boroughs of NYC on that salary.

My first job wasn’t much more than 40k and it was hourly non salary pay without benefits..

Is 70k enough for a single person?

If you are single, you can afford quite a bit. If you have a family, not a whole lot but you can get by. It really is dependent on the three biggest costs: housing, car, and food. For housing, someone making $70,000 could afford to spend up to $2,000 a month on housing.

Is 70000 a good salary in Chicago?

$65,000/year is more than enough for a single person to live very, very comfortably in Chicago. If you don’t have a lot of debt, you can pretty much live in almost any area of the city you want. Not any building, but most any area.

Can you live in NYC on 100k?

Yes you can, but expect to be staying far away from Manhattan in a rather low key place, forget about single family homes, you could still rent a decent apartment in this salary. Also depends on your family size, 100k would be roughly 75k after tax, that’s around 6k plus per month.

Is 250k a year rich?

By most measures, a $250,000 household income is substantial. It is five times the national average, and just 2.9 percent of couples earn that much or more.

What should I do if I make 70k?

6 Things to Do With Your Money Once Your Salary Reaches $70,000Invest in Real Estate (Even If You’re Not A Millionaire) … Ask This Website to Pay Your Credit Card Bill This Month. … Spend 5 Minutes (and $25/Month) to Make Sure Your Family’s Mortgage is Paid When You Die. … Embrace Autopay to Save on Your Bills.More items…•

Is 80k a good salary in NYC?

You can do quite well in NYC with 80k/year depending. If you’re sharing an apartment you’ll have a lot more buying power, but 80k won’t put you in the lap of luxury. … If you’re sharing an apartment you’ll have a lot more buying power, but 80k won’t put you in the lap of luxury.

Is 80k a lot of money?

If you are living in a rural area, especially on the south or midwestern US, 80K is pretty good salary. … Some careers offer 80K as a starting salary, but on average it will take a good few years of work experience, higher education, or at least a manager level job, to make that money.

Is making 50k a year good?

As you can see, a salary of $50k is considered good money. However, there is ample room for improvement if you want to improve your situation. The average household income is approximately $63k. Therefore, a salary of $50k is considered below average.

How much house can I buy with 70k a year?

According to Brown, you should spend between 28% to 36% of your take-home income on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.

Can you live in NYC on 50k a year?

“I definitely think you can live comfortably on a salary of $50,000, even in New York City,” says Haskins. “It’s an expensive city, but I think if you know where your money is going and you recognize what your priorities are, it’s totally doable.”

Is 70k a year good Reddit?

Actually, it’s a solid middle-income, which in 2014 was from $41,800ish to $125,600ish. … That’s a good middle class salary but as others have said, it depends on where you live. But 70,000 for one person is comfortable living for mostly anywhere in the US.

What salary do I need to live in NYC?

To live a comfortable and satisfying lifestyle in New York, even when you have roommates splitting the cost, a yearly income of $50,000 or more is ideal.

What is considered rich in NYC?

New Yorkers need to earn $143,794-a-year to be considered rich, according to a study of 42 major U.S. cities carried out by Business Insider. You’d be much better off if you took your money and moved. New York takes 34th spot on the list.

Can you live in NYC on 70k a year?

Yes, definitely. Both Manhattan, depending on neighborhood, and most parts of Brooklyn. When I first moved to NY, I was only making $45k and I lived in Brooklyn. … At 70k, you can afford up to $1750 per month in rent (most places in NY require you to make 40 times the rent amount).

Is 70k a good salary in Canada?

It’s not “okay” money, its not “decent” money, it’s good money. It’s 50% more than the average canadian makes. … But, outside Toronto/Vancouver, 70k is definitely well above average, and there is no reason you cant own a house, a used car, save money and go on a modest vacation occasionally.

Is 200k a good salary in NYC?

Your annual salary of $200,000 would end up being about $96.15 per hour. You’d live pretty good in NYC in fact you’d be able to live in almost every neighborhood in NYC. Rent average from 1,500 a month if you are lucky to 4,000 and higher but you could most likely buy an apartment with that kind of salary.

Is 70 an hour good?

70 dollars per hour working 2,000 hours Your hourly pay of 70 dollars is then equivalent to an average annual income of $140,000 per year.