80k take home pay reddit. And we have kept our outgoings fairly low.

80k take home pay reddit $1,500-2,000 is a huge gap and it tells Yeah, 30% was for Boomers. To live a comfortable life means financially secure, so 1/3 of take home income goes to either investment or saving, means $5354 to spend. Gave me a take home automation project that they paid me to do, then a round discussing the project and finally a meet with the CEO. 80k income after taxes is 56k in California. I was offered $80K but I wanted $85K so my take home pay could be more a little more significant (company is in a no-income tax state but I live in an income tax state). Split that 20k across your paychecks and stick to that goal. Someone on Reddit suggested that I first look into what changes I could make, including compartmentalizing my life (think of the TV show Severance but less creepy and more intentional). 05*80,000). I also take out 7% currently for TSP contributions. This mortgage amount is almost 50% of their take home salary. bc take home for 80k is around 4K per month (I was making that a few years ago) I'd recommend expecting and budgeting for 5k as fam bc then anything above Save for 1-3 years, then evaluate your options. But a gig driver writes off about 66% of pay on miles/expenses. In retirement, these accounts start filling up the tax buckets from the bottom, after any other fixed income is also 80K will allow you to be fine in most areas of town. For what it’s worth, I regularly do paralegal work, but my title is legal secretary. Depends on your individual deductions. This took us from May 2019-December 2020 to pay off. Took me 7ish years, education (commonwealth supported). If you're i use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example. Early in 2014 I got promoted to full-time with a salary of 80k. Thinking about finding a fully remote again, but at least 80k or more. 1k monthly Rent - 1. All you think about is "what if". And you can't cut retirement savings back to do this. Take home of about 100k give or take is pretty typical. 49% APR) - $2800 $5000 in savings. 67. However, you may say, accurately, "My take-home pay is 67. No reason to pay them now as there could always be a further extension or actual congressional debt forgiveness (unlikely, lol). HCOL Cali is it’s own world. I have a 401k plan with my employer. I don't know how people are buying homes. My boss upped my salary after a few months because he said I Open menu Open navigation Go to Reddit Home. I'd also assume a take home of about $5000/month, so depending on your rent and other expenses it You’ll keep roughly 2. r/WFH A chip A close Went from 60 to 80k. If you have debt, that would take priority. ). ) 2K is about as cheap as it gets for a studio in Manhattan and thats a good price on upper east side. A recent Wall Street Journal article reported on this You'd be lucky to find a mortgage that would accept less than 10% deposit, and you'd be on a 7% rate immediately. My experience is: 85k, single earner household, 4 kids and a stay-at-home Mom, in a cheap suburb. We plan to do so the week before payments are set to resume. The mortgage would be just under my name. Right now it's affording the payments for sure! We make above average salaries (but not massively above) and the repayment on a £300k house would take a huge chunk out of our take-home pay. My mortgage with insurance, taxes and all is $3600. The tax tables figure you gross that This would replace all three cards ($19200/17%, plus the two above), but would be secured against 80% of my current equity in my home. But how much house can you actually afford? In the year 2024, in the United States, $80,000 a year gross salary, after-tax, is $63,512 annual, $4,783 monthly, $1,100 weekly, $219. Anyway, in the middle of sharing all of these calculations for budgeting purposes, someone pointed out The good news is that with an $80,000 salary, you have a decent income that can help you finance your dream home. & I only have about $1000 each month to spare on food/gas etc. here (numbers exclude super). Salary $112,500 Take home $2780 After 6% 401k pretax contribution I have a family of 4 and married with 0 kids on my W4 I’m blessed with $0 out of pocket healthcare. Just something to consider if you are trying to save. Get app Get I took a leap of faith and switched companies to an estimating position (still in construction) and it paid off. . The 15 is to not spend more than 10-15% of your take home on transportation. You can always tell who grew up thinking 80k is poor when they think 200k even in hcol is just “enough”. If you have to send money back home, I'd say you'd have to budget extremely strictly and be as frugal as possible on an 80k gross salary. It's not going to afford you the most top of the line place downtown for a 1 bedroom but otherwise you could afford most areas of town IMO. I took a similar cut (80k to 60k). The Reddit Law School Admissions Forum. Best. I earn around 50k/month and have philhealth, but when i had an operation for ectopic pregnancy my bill was around 180k plus may mga take home meds pa. r/AskNYC A chip A close button. In CT you take home on 80k would be 4,700 month. If we assume a 20% down payment so you don’t Now this is where I was a little shocked. Average home across country will range from 200-800k +. And we have kept our outgoings fairly low. Effective tax rate around 20-25%. New. My wife and I are planning babies and when that happens (hopefully in the next year) she will stay at home. I never had to worry about how I was going to pay bills or buy groceries, but I definitely had to watch what I spent money on and do without in some cases. Lots of good paying driving jobs other than trucking like cement trucks, garbage trucks, dump trucks, and all of them good with very little trading compared to other occupations. I took a trip to Japan. Knowing the after-tax amount of a paycheck and using it to At mine, OT pay is extrapolated as if it was my actual pay. TBH, I don't think many people do this because it limits you to the most basic of entry-level cars. Also, do NOT use gross pay for any of your calculations. Keeping in mind that the only expense I calculated was commuting. You can’t buy a house in Ottawa for 420K unless it’s a shithole. EDIT: NRS not NRE. Reading your comment gives a little bit of hope that maybe we could afford a house now lol. (Car was in the repair shop) took the bus to pick up the car, first bus was alright. Stay in cheap airbnbs and take cheap flights for vacation a couple times a year. at my old job to 80k p. 80k would yield 353/mo. 5 hourly gross based on the information provided in the calculator above. I'm on about $80k and pay $400 week mortgage (single person household). Your situation is like a friend of mines who I just recommended taking a 401k loan out to pay his debt. No it depends on if you bought your house 5 years ago or 1. Adjust your spending to put more towards /r/StudentLoans: Reddit's hub for advice, articles, and general discussion about getting and repaying student loans. It's easier to spend a higher percentage of your take home pay when you're taking home more. But I'm at a loss. Started at around $60-65k (in LA, mind you, but over a decade ago) so it only took a few years to get to $70k+. Your take home pay is $5k after taxes. Electricity and food takes the other chunk. 90% and up 15. Cook most of my meals at home. We get by just fine as aside from one car payment no other real expenses. So, don't tell people that (1 – 26x/salary) is the "percent" you are paying in taxes. Up to date im 240K gross in my business this year, 1 man show. I have student loans from college being paid by my family. Human factor as well. Trying to make it even lower as spouse reaches real estate professional status. No, 80k is not a 'decent' wage, it's a massively above-average wage that buys you an excellent standard of living unless you totally spaff it up the wall. Or check it out in the app stores   Is $1700 rent too high for $80k salary? Other Which leaves me with net take-home of: $3850 Car (+insurance): $200 Food: $300 Misc: $300 Google "new york income tax calculator" and that'll calculate how much taxes are taken out. Holiday months (3rd molar season) are closer to 100k. Sometimes the raise you get from year to year is less, and most of them start increasing in 5 year increments after year 15. Reply Reddit . r/phcareers A chip A close button. I'd still like to stick as close as possible to it. Other sources will use gross pay, others will use take home pay. Easy enough. 54k salary yearly income. 500$ Food, give or take. r/RealEstate My take home pay is $6800 after taxes. I see now why people say you need to switch companies every 2 years or so. Also, PLEASE keep in mind if fluctuations in property tax. Healthcare costs will likely go up, and you both should get term life insurance policies. 100k with a 6 percent 401k contribution and 100$ for an insurance is probably around 4900 a month. 3 days in office hybrid. Our mortgage now is about 9% of our take home pay. Disclaimer: Take-home pay is $56k a year. but you’re looking at a wide range of income to cover the average expenses, be able to save a 3-6 month emergency fund, to save a down payment for a home, and invest into retirement within 5 years. If you need help with your personal tax affairs , a qualified accountant Currently, most American workers earn a salary. It’ll take him 3-5 years to get to $80k if he’s lucky If you're in NJ making 40-55k your take home would be between 2,700-3,700 per month. I’d say between $60-80k salary depending on benefits and if you Then I took a software support job for 30k a year in Denver, it was basic tier one tech support stuff. EDIT: To clarify further here 80k is 4. But 3X income is pretty basic mathmy brain maybe stick in the place where I was earning 40K a year instead of 80K+ These can vary in responsibly and pay, especially depending on whether it’s retail banking versus corporate/commercial banking, however either should get you to at least around the 80k target. These may total ~ 10%. Homesteading and lots of animals and gardens. My first job that I had while still in college paid $12/hr and I eventually made it up to $18/hr after four years. Is $80k take home pay or gross? Did you receive a tax refund this year? If it is in the thousands range, you might be paying Uncle Sam too much. You should always take the full company match if you can. 00 per hour. Salary $80,000. If there's nothing like that, go for it. 70% pay is 13. Then philhealth only covered 20k flat. ($3600). Not paying taxes on investments is always wise. Keep saving!! The first flag that made me assess that you are not ready is the huge swing in your “expected monthly savings”. Controversial. My annual salary is $80k, take-home each month is $4600, give or take. Save up so you can pay 20% of the value of a purchase (so, with a 100k home you'd have 20k cash that can be your down payment / equity). Major brand dealership. We would need almost double that now for a down payment. I’m nervous at the prospect of taking a second mortgage, but the prospect of saving thousands upon thousands of dollars and paying my credit card debt off in five years or less is pretty attractive. There is no scenario where you take home less money by crossing into a new tax bracket. 3% annually and no state income tax. They miss the fact that if your salary is $80k and you are saving 50% Lots of tech and finance responses here so as a counterpoint, I have a bachelor's in communications and went into marketing. You need a solid house emergency fund, and you don't want your house payment + expenses to be over 25~33% of your take home pay. Add a Comment. Reddit Recap Reddit Recap. I am basing it that op says his take home is 4300. Anyways, seems many of the “worthwhile” homes cost around 180-220k range. E. It also sounds like solid progression. They currently match OMFS with take home pay after taxes and retirement ranging from 60-100k per month. I transitioned into a SharePoint architect which took my pay up to 80k when I Open menu Open navigation Go to Reddit Home. We bought 2 $20k cars this year with cash we’ve been saving up for a couple years. Student Loans - $25,000, currently paying $284 per month. Wife will probably go back to work within the next year (RN) and bring in another $70-80K. I work for a hospital, so our insurance is great. This works out at around £4,683 a month and £1,080 a week. gasoline, electricity, telephone). Or check it out in the app stores but I would've want to be any lower. U r right, I decided to take the bus for the first time in 5 years. I have two STR Had a quick chat with the head of engineering, then HR. $1,580 monthly mortgage payment including all’ the good stuff, pmi, tax, insurance. Expect no pay for a month at most, then 700 gross for nearly 4 months. $80k is decent but not a lot if half your pay is going to rent. com find Unveil the possibilities of your earning potential by determining the exact figures for your daily, weekly, and monthly take-home pay with an annual salary of $81,000. That's not even taking into account fees. Ride my bike to work a lot. So like $3,200 monthly take home pay. So yeah, I'd say $80k is fucking fantastic. I was ready to quit and take a huge pay cut. Right now we live in Oslo, Norway where with one salary of about $80k per year it's tight but manageable. To buy our home now, it would be 50% of our take home. We also put 20% down. $80k in NYC is very different than $80k in Iowa. A lot of working class are also self-employed, in the "I want to be self-employed" rather than the "deliveroo" style. yes you can afford a $200k house on an $80k salary. No one told you to live in Manhattan, bronx, and brooklyn are much cheaper (relatively), take 5 vacations a year and buy 2 cars. On a single salary you might not be able to go out as much but things will be fine on a dual salary once your partner starts working. Pay calculators suggest 2. I don’t pay anything for medical dental and vision for me and my 18-year-old daughter. Transfer was bad, the 2nd bus driver basically skipped our stop because there's someone she doesn't like waiting in line to get on. My third job paid $81k. $2650 is too much to be paying in rent. 40% of 200k let's you live much more comfortably than 40% on 80k. Get the Reddit app Scan this QR code to download the app now. You need to budget and figure out how much you can pay per year with all of your expenses and taxes removed. At about 80K, they can get debt 4X their salary which is 320K. reReddit: Top posts of February 6, 2023. This is my first time na nahospitalized and was surprised I was taught how when I was 18 by my grandfather. If you bought it 1 year ago your mortgage is close to $2500/mo. We paid off 88k in 11 months with a take home pay of about 120k over the course of those 11 months. If you are paid 80k for a job downtown you could accept it but know it was time limited. I got a promotion within 2 years and am back up to 75k with a way better benefit package. I pay for two subscriptions Hulu and spotify. r/maryland A chip A close button. Taking a higher salary job now is better in the long run. To make 80k you’d need to sell little over 3 million. I have no kids or partners and currently still live with my parents. The best place on Reddit for admissions advice. Reasons: 150k - max 401k contribution of 19500 - ira of 6000 = 124,500 taxable income. If with OT pay this is ok than your They do reduce your take-home pay, but the former are a kind of savings, and the latter are an expense that has some value because it protects you from catastrophic medical expenses. 66 a month for gross. 5bath, $740/month). Subtract in the calculation any retirement contributions. I don’t drive so there is no car payment or insurance. Thoughts on this much debt with this type of salary? and ability to pay it off in a fairly quick manner without accumulating much interest. A $6000 monthly mortgage would very quickly eat into that. I'd say she's in bankruptcy territory. Legal Secretary - twice a month I take home a check for 1700; employer puts 10% of every check of my gross pay into a retirement account of my choosing. monster/ Sales/account management, 4 year business degree at generic state school, entry level $45k sales job right out of college with a well known company. She argued with them and floored the bus to two blocks over. The rule of thumb is max 1/3 take home on rent/mortgage. 29, single, $122,000 base salary (approx. We bought a house in the country. Work out travel costs and extra tax to make sure your take home doesn't work out too much smaller than expected, but I'd take this pay jump to work on site. my new condo has a beautiful pool, fantastic gym, game rooms, and co-working space for 30k in the heart of Makati. My rule of thumb used to be aim for 1/3rd for accomodation, but as you earn more that can fraction can rise as your remaining disposal income is still high. If you can’t afford that, you need to lower your lifestyle standards. Not going up. I don’t plan on purchasing a house near that amount since I have a fear of being house poor. After taxes, another set of purchases mandated by statutes must Open menu Open navigation Go to Reddit Home. It will increase your monthly expenses for diapers, wipes, possibly formula, and other baby supplies, maybe an extra $100/mo. 4% of my gross Dude you and your wife are bringing in over 1/2 mil a year, take the pay cut and be happy. Some great options for decent returns with next to no risk right now Reply reply £1450 take home pay, I’m single and saving for a house but still live at home. About 30% of my monthly take home pay goes to living expenses because I still live with my retired mom (3bd, 1. For some reason though, I got In the mean time, I'm going to budget conservatively and assume 45k is my take home. 7k per month. g. Also, I know you can force it but don't expect home time during any of this. Then the total salary divide by either 26 for the biweekly salary or by 12 for the monthly salary. My second job paid $72/year which included bonuses. r/personalfinance A chip A close button. Depending on your industry they are getting you on the cheap. Credit Card (15. Now with costs up, I would say it's "comfortable" but probably not much above that. When I switched jobs (Aug 2014), I got 105k salary at my 2nd company But the benefits are much better, to the point that I didn't really take much of a hit in my take home pay. The calculations come out to about lets say a $210 home to $1750 per month. This is a "starter" home, 3 bedroom 2 bath. so you could be more around $4200 Income: $82K/year ($4900 take home each month) Debt: $0 No Car: $0 Savings: $120k in an HISA (earning 2% interest) I'm planning to put 20% down ($110,000), I'm expecting to pay around $5000 in closing costs (including first time home buying rebate), leaving with me with $5,000 left in No car, using public transport. 99 daily, and $27. I would put a budget together and look at income post tax. and there’s not much left over to lead anything resembling a lavish lifestyle. No school whatsoever, and I make close to 100k with all the benefits like paid holidays off, and I’m home every night. Or check it out in the app stores   That's the difference between being a 53k a year employee and an 80k a year employee. Get app Get After retirement/healthcare/529 plans etc I take home $4600 a month. and $100K salary contributes to Social Security with deductions very little does plus a job has benefits and vacation and sick pay and holiday pay and overtime. Figuring out this final figure can be helpful. You can make 40k a year stocking shelfs in a lot of places. Don't gimp your career right off the bat because you want to live at home. I'm making 80K, no debt, 3900/month take home, paying off credit card in full each month, and putting 6% toward a Roth 401K (employer matching the first 4%). The various "help" Labour is planning to offer that group will see them pay more tax even if their take-home pay is less than £80,000 (because they won't be able to take advantage of dividend allowances, etc. We had a 70-80k renovation for debt and had just put another 56 ish k into buying a house. They're getting you on the cheap for 80k for a downtown job. Which makes sense in a biglaw sub, considering alot of biglaw kids already come from money. I also took higher hourly and lower stipends (less Our mortgage is 25% of our take home pay. Personal savings is $25k (savings acc) and I add to this approx $1. take-home salary will be about $67,268. I also live in a state with no state income taxes. Take home pay - 4. Lol I didn't cope, I quit. 33 weeks/mo not 4 weeks/mo as per your calculation. From personal experience, you'll be too tight with $80k income and $300k home. I am fortunate to own a business that is now on our 21yr, make great money and enjoy coming to work 99% of time (just sick of employee drama). At my old job my monthly take home was ~$4267 (per my bank statements), my payslip showed $1400 going to tax. I put out a bit over 50% of my take-home pay but paid off my GTA house in just over 15 years (2005->2021) I definitely remember the anxiety in the early days of having a lean bank account but my partner and I adapted and made it Even if you take out $25k in your 401k, the interest will likely be around 6% which is far better than the 15%+ that you are paying and you can likely lower your monthly payments. That being said OPs 4300 sounds high for his income. As a Keeping your mortgage/HOA under 30% OF YOUR TAKE HOME PAY should be the goal. r/MiddleClassFinance A chip A close button. Go get it. 5 apartment with the gf. 140/12 comes to 11666. take home after all things I take out like 401k is 4200, mortgage payment around $1100. $186k base salary, bought a decent home in Little Elm, two paid off cars but WFH so hardly utilize them. The point is not moot. also if anyone could suggest about accommodation, whether its good to stay in city or somewhere close to the city, is transportation good, this is my first time Open menu Open navigation Go to Reddit Home. I am not looking to use 60%-70% of my take home pay for a mortgage. In addition to rent make sure you budget for groceries (sky high atm), gas (if you drive), renters insurance, car insurance/payment, health insurance, retirement contribution, cell phone, internet, and don’t forget to actually have a little fun and live. You have enough industry experience that you can work around the degree requirement for some industry related positions that will meet the $80K+ requirement, offer great benefits and provide a reasonable work life balance. So if you sell $300,000 home your commission would be $7500. Anyone making half again as much as median household is likely comfortable, so $90k - $150k or $120k off the average. That means you can afford a monthly mortgage payment of $1,325 max. If your commute isn’t too far then you have to think hard and do the math because inflation is making everything cost more Depends on a ton of factors, mostly cost of living. Going out can be expensive, as anywhere in the world. Add in a car payment, gas, utilities, food, etc. Tax sheltering through practice ownership is how dentists do it. I live in MD. You'll get the loans paid off, you don't have that much. 8k and food about $1. This is a perfect example that money doesn't buy happiness, you are in the top 1% in the world by income. So if you're not saving for a down payment or travel, it's OK to live alone. If you're making 50k/yr in so cal, 1/3 gets you a cardboard box. Go out maybe once or twice a week for drinks or dinners. but you'll be spending most of your take home pay every month. Get app Get the Reddit app Log In Log in to Reddit. I have a new floor salary. We saved up almost 25k and hope to have it paid off Is 80k dollars good salary in Ontario, how much tax will i pay, i have used a salary calculator, but don't know if accurate. Like my construction buddies go all out saying oh i make 55 an hr and this and that, but after all the fees and taxes you take home 30. Early retirement is easily within her reach, if she can maintain a COL of $35k a year and invest the rest. Sorry man https://mortgage. Before pandemic I would have been very comfortable saying that 80k is plenty in Detroit. Lastly, this sub and reddit in general are a great resource, but you need to do way more homework before you’re given any meaningful advice beyond: NO, do not buy right now. Do you make 80k take home or is that before tax? Asking cause our household income is about 85-90k and we currently have about 10k saved up. I countered with $87,500 while stating additional skills I could bring to the company and they countered with $85K. Leaves around $100 for beer. For instance, people often overestimate how much they are able to spend based on an inflated pre-tax income figure. Rough math, I'd assume a monthly payment of around $750 for the loans. $400-$500 on food $300-400 on gas, $100 in subscriptions. We still take vacations and buy stuff. Definitely don't take it for granted since 5 years ago I Of course PSD is about 2-4 weeks depending on your skill and PSD trainer and tnt is now 50k plus the time they dick around clearing you and finding a truck and then routing you in. Get app Get You can make at least 80k take home a year if you get contracts 2k/week. Pay a little more to be closer to work, so you pay more but you don't have a 2 hour commute, instead it's only 15 minutes. When Dave recommends no more than a 1/4th of your take-home income for a mortgage does he count what you save towards retirement or just taxes when Median household in the 7 county area is about $80k (so dual earners at 40k each or solo at 80k). Which equals to $8112 monthly take home. My partner stays at home and I don't do paid childcare, so I do not know. Learn tips and tricks to make yourself more productive, avoid distractions and generally make your experience a more positive one. First, I know the 30% rule is arbitrary. I have a $500k mortgage - currently fixed with approx $2k monthly fixed mortgage until August but I make $2. I was getting paid while I was at bars making out with girls. Just guestimating, but that your post-deduction take home pay will be around $55-60K/yr. My net take home is about $2200. 5k take-home pay after Take home is use it now or short term money. Get app Get What's your take home on a 100k salary? 125k: 80k ( 45k tax ) 150k: 96k ( 54k tax ) 200k: 127k ( 73k tax ) Reply reply bikesboozeandbacon • What about 40k so I can prepare to hate myself. When I was done, started seeing about $200 a fortnight more in my take-home pay. 5% of the sale of the home. I've seen a ton of posts on here about people confused that their 'mortgage' increased. We have very expensive pensions, which has an impact on how big that seems, but still. To pay off 50K at 18%, she'd need to pay $1800/month. The average salary for my discipline is roughly 80k a year. Get app Get If she saves 55% of her take home pay, she can retire by 45. 80k is on the low end of salaries necessary to live a somewhat decent lifestyle in the city. I don't have a recent payslip from this job). Expand user menu Open settings menu. 50. 30 years $3686/m, so you can't even afford that, no bank would lend to you. 6k, additional monthly expenses about $0. The pay used in the 43% statistic would have been taxable income, which is pay that is subject to income tax before considering tax code. Just had regular payments taken from salary, no extra payments. I am currently a GS9, but laddering up to GS11 later this year. Currently my savings are 50/50 between investments and cash savings, however I have started saving more in cash due to rates going up and looking to buy in the next couple of years. For reference; take home after tax on 80k was around $4174 a month and now I’m suddenly taking home $10,666. After all my expenses, I have around $7000 left over. 50 per hour. The ONS link uses disposable income, which is the amount of money available after direct taxes (income tax, NICs, council tax). Or check it out in the app stores   . Post any questions you have, there are lots of redditors with Probably a bit lower fraction of your take home if possible, especially with the cost of energy and living rises at the moment. 30% of that per month is $1400. Check out the sidebar for intro guides. Bills: Truck loan- $47,000 remaining. Our daycare is $205/week, at a church nearby. Old. So a gross income of ~5. 3k. But if you're making 120k/yr in bum fuck nowhere Nebraska, 1/3 gets you a mansion. I just got a job with a salary of $85k, with a $5k increase each year and a cap at $130k if I don’t get promoted. "100% of demonstrated need" in my case meant one parent is supposed to commit 100% of their full-time take-home salary to pay for my tuition. Rent: $810 On a salary of £80,000 your take home pay would be roughly £56,203 after tax and NI contributions. Fresh graduates used to make 60k ten years ago now they can get 80k out of the gate. To answer your question, yes it is definitely possible but it requires you to track your monthly spending with a budget so you know where the money is going. But you won't be saving a lot of money for traveling unless you spend your weekends at home. That's also the problem with taking the average: pay scales aren't always equitable. 15 year mortgage for $550k at 7% is $4975 a month, your take home is $5,158. Total: $3. Longer than that and IMO life will get in the way some how and derail you. From the take-home pay, another set of taxes will be paid: California sales tax, taxes embedded in many product prices (e. Open menu Open navigation Go to Reddit Home. Just don't get stuck paying for everything because they get comfortable with having you pay the bills. You'll regret taking that job and staying at home for friends and family, just wait till you see the first check. 8k monthly, utilities included Groceries and eating out - 300-400 monthly I will have about 1k left over each month. It jumped to $8300/month with 5% down. Savings rate increased to around 15%. Yes, even in this economy. I think you are saying you take home $80k a year and people are confusing that with your gross pay. If I make $25 normally, and $35 OT, my payroll pretends as if my actual wage was $35. Total debt around $17k (2011). Then you have to remove health insurance deductions, 401k deductions etc. For example, let’s say I’d have a $80k yearly salary, what price range car should I buy? Additionally, if you finance, your payment shouldn't exceed 10% of your monthly take home pay, and all expenses (payment, insurance, gas and maintenance) should not exceed 15% of your monthly take 80k per month will net you a much better standard than in Europe. No insurance if I put more than 20% down. 5-$2k a month. I pay $450/month for our premium, and as long as we use our healthcare system, our visits and meds are cheap AF. After taxes, health insurance, some 401k or something I'd reckon you'll be taking in around $4000/mo before paying for housing, transit, food, etc. Your father is mistaken. Add the down payment of 100K, that means OP can only buy something around 420K. Of course lower cost of living areas will trend a little lower and higher cost of living can trend significantly higher but it kinda averages out due to cost of living. Get app Get Siguro dapat mo i haggle to increase to 70-80k to compensate na din sa mga nawala. My assumption is that 80K is generally a take home pay around 4500, so I don't know how little they are actually putting Open menu Open navigation Go to Reddit Home. If you bought your house 5 years ago $80k is a lot. Yeah. Our gross HHI $289k and take home is $148k so I feel like we don’t belong in this sub anymore but literally before 2020 we were not at this level at all , our gross was $180k , our salaries just rose with the crazy markets but we still like the same middle class lifestyle, Welcome to /r/WFH - 'Working From Home,' the subreddit dedicated to those of us who work from home, be it for yourself or a company. Your take home is going to be $4333 a month after taxes. Should be enough kasi less ang deductions and I would assume bigger take home pay since for this setup around 2% lang ang tax. I pay £300 rent to contribute towards bills and save £1000. I'm looking to move to the Bay Area with my wife and I am wondering about cost of living vs salary there. 7k per month (Or a bit more, I had HECs to pay. However we have been saving during the Covid forbearance and can now pay it off as well. We pay 20% of our take home pay, I wouldn't want to go any higher than that on our income (we take home 7-8k/month combined) - New England I absolutely hate when people flaunt and say oh i make 140 a year, yes but thats BEFORE tax you take home like 90 settle down. Use my friends and Padres for Netflix and Amazon subs. Agreed, but $200k isn’t high income in Orange County either. Groceries will take a large chunk of your pay as well as the prices keep increasing. At 105k, you pay 7%. Enter 80k here https: $2,400 sounds about right for $105k. a. Open comment sort options. Right now I'm paying $1350 in rent and am not really stressing to make that payment, but I probably couldn't manage paying THAT much more before my anxiety kicks in (although with $4600/mo in take home I do have wiggle room). can’t speak for others, my # is all combine pre tax income of 150k is comfy. Check the table below for a breakdown of $80,000 a year after tax in the United States. We only have internet. Admission to the hospital is a flat $100. So if 100k was a tax bracket cutoff (I don’t think it is) you would only pay the higher rate on the money you made AFTER 100k. I am single, have a single source of income, and take home about 4600$ a month after taxes/401k/insurance/etc. I can also tell by your take home figure that you’re not saving for retirement or if you are you are saving a very minimal amount. That would be $470-$705 all in, including insurance. Nobody wants to pay to keep talent around, so jumping No more than 20% of net after retirement savings makes things comfortable imo. A basic home in my area 3 bed-2 bath average quality neighborhood is $425,000, property taxes would be about $6,000 a year. I’ve worked in 4 states. Only after all of these factors are accounted for can a true, finalized take-home-paycheck be calculated. But it really depends on lifestyle. It will be stressful. I'm in a HCOL city, but am fortunate enough to be able to live at home with my parents. So $80K is $27,200 at most after $1 a mile deductions. Then let's say you aim to spend half that on housing as a Hello, I was wondering if 80k salary is worth the move to Boston. My personal view is that if it's going to take you more than 3 years to pay off your debt you should consider filing. 30% of my take home pay is $1260, and that unfortunately would get me a rotten basement in my area. r/TravelNursing A chip A close button. Take-home pay on a $200k salary is approximately 60% after taxes, healthcare and retirement. Buying a home isn't as simple as '$1500 a month is totally doable!'. However, more jobs in the future could have a bonus-pay structure instead. Can't say I'd expect "better benefits" to offset a 28% drop in pay though. r/bayarea A chip A close rent ($2000) x 12 months = $56k take home $80k - rent ($2500) x 12 months = $50k take home $80k - rent ($3000) x 12 months = $47k take home If you wanna know take home pay do the math based on the wage tables I provided above then run it through paycheckcity's We’re now at $892/week take home. And check your credit score. after taxes you might be taking home a bit under 60k. I mean its definitely doable, but OP can easily cut the bill in 2 if he I make 80k, my take home pay is just under 4K (but taxes are very high in my city/state). The spread is between $65k to $102k for the seven counties. r/careerguidance A chip A close button. Our payment is $1214/month, or 25% of my take home. Get app Get around what would the take home pay be? Share Sort by: Best. Treasuries the one year is paying like 5. Reply More posts you may like I’m in my second year in HR, AU 22 (M) working in federal government and getting paid 80k. So it’s a modest home. Not as drastic but I took a 120k to 80k paycut for more time at home, less traveling, not bringing work home A kid will add around $1000-1500/mo if you end up doing daycare Mon-Fri. Regular pay before all of this was 50% of the labor hour on the bid. Points is like a step wage system. About 100-200$ give or take for buss/train. Life has been insane lol. $95k annual take home salary). 80K take home is around $4700 assuming a 6% 401k contribution. 10,500 take home doesn’t even seem like it would factor in an appropriate tax rate. Ideally I start to earn enough to take over these payments eventually. When you were earning 80k, you paid 5% for your HECS (aka 0. I went from 68k p. Depending on the property tax, the monthly mortgage comes out to $3,200-$3,600 still. 10 years later I was well over $100k at a manager level, not even senior or lead. I somehow don’t know how people do it! I guess I have expensive hobbies like rehabbing 2800 square foot house and 3 acres with five sheds 😂. “Off”season closer to 60-80k. After deductions you might take home ~80k after So $70k × ~70% for take home = $49k 49k / 12 months = 4083 a month take home (rough estimate) 4083 - 530 (commuting cost) = $3553 So you have just over $3500 to do with what you want. Will I be living paycheck to paycheck with that salary or will I be comfortable? But we also own a home--saving up for a home was no small feat, plus the 80k to renovate was tough too. If I purchase a home, I will be paying for the mortgage myself, not with my girlfriend as we are not married. Fourth debt coming up: car loan for about 6k. Get app Get OP makes $80k and puts away $16k which keeps them in the 22% bracket, so that entire $16k deduction saves 22% in taxes. Reply reply Junior-Village-4815 It will be half your take home pay, assuming insurance costs a 100$ a month and you put 10 percent of your salary into tax free retirement (401k, defined contribution pension etc. They withhold at a higher marginal rate. No joke we were struggling at 200k to save up Your take home pay is actually quite good. Our rent is $1. 5k payments. 7k/fortnight , so sounds about right to me (though your numbers are off because 52 weeks divided by 12 months = 4. Take Home Pay. Phone bill, electric and general home needs are on average 200$ a month combined. At 80k I'd struggle to pay Sydney rents, pay student loan, safe money and still have a decent lifestyle. You're in your way, but no need to rush it. Assuming the bare minimum of expenses, you'll need $150 for Internet and a cell phone. I started with over 80k in student loans (undergrad and grad) moved to NYC out of grad I am at 85k pay, bought a fixer upper for 185k. I see too many stories like that on here. straight commission labor rate back then was $48 an hour. I'll also add that I started at this company at 75k, as a brand new BCBA (had been certified 1 month). I was under the assumption that the 30% rule was based on total income, not take-home pay. I’m satisfied with the pay by all means and I get to work from home which is great but I’m getting more and more resentful towards my job. Or, leave after one or two years for a 100k job. $1 million House with 20% down in this market is $7200/month PITI. The good rule of thumb is 25-30% of your gross take home should go to pay your mortgage payment (this should include insurance, taxes as well). 34 single living with parent free. Are they thinking $80k take home is solidly middle class but 80k gross for 3 might be low? Goal is to get out of this hoa and buy my first home. This breakdown will provide you with a comprehensive Take-home pay per month: $3900 (after 5% towards retirement and 5% employer match) I save ~$2500 as cash with my budget portion sharing a 2/1. Start saving more so you can do it comfortably. My parents are nearing retirement so not exactly an option. They scored a job with a luxury car dealership, took a 40% pay cut to enter a new industry to work with cars and hopes to expedite an apprenticeship into being a mechanic. Travel nursing is very good money $1400-2000/week take home pay in general pediatrics. Loans wont be penalized, withdrawals will. Q&A. Many of the corporate/commercial RM roles will likely be 100k+ How to manage a 80k salary in the best possible way as a 22 year old I live in the DMV area, and finished college a couple of months ago. From there, what you invest in really depends on your goals. While you're aaving money, look around your area and start narrowing in on what you and your family need/want in a home. the lowest salary to get approved for a 1 bedroom apartment is around $80k. Last year I saved about 30% of my paycheck, but left it in my checking According to some, the financially responsible thing to do is the 20 4 10 rule if you're financing a car: 20% down, 4 year loan and 10% of take home pay on operating costs, which is supposed to include your monthly payments, gas and repairs. Currently, if payments resumed it would take us 13 years to pay off. take-home pay is coming to 60k after taxes, is it correct. Last year I was making $80k, so can say it's been a good year and I'm very thankful for the many blessings I have. I got a job offer at a pharma company and it comes with a 3k sign-on bonus. I don't know how people are making it, I'm lucky I own a Open menu Open navigation Go to Reddit Home. I was recently preapproved for 250k on my 80k a year income. We bought a house in 21. I got another job and higher pay circa 2015, which paid in the low-to-mid $60k. If you make 80k, I’m estimating your take home as $5300 a month. Top. Very likely the smart thing to do is to look for a used car in the $25-30K range, put down a $5k downpayment, and finance the rest if you qualify for a good car loan. If you make 80% 13. So, I started a job a couple of months ago. Our avg starter homes in our area go for about 180k(lucky)-250k, usually on the higher end. $300k combined salary, assuming married jointly is $212,880 after tax( no 401k). Or if you’re renting. With this job, spending increased to around $40k/year. If I was renting I would probably have to cap it at less than that for housing costs, because fair warning to you, it's not very easy to save much when you're earning $75-80k and paying $400+bills per week on housing. My "10-15 mins" is surprisingly more then expected because I have to pay for the bridge. But, we bought our home in 2008. 55k take home on 80k sounds pretty high Reply reply I totally dont understand why people are recommending to OP that payong $1750 rent on a $80k salary is OK. You are better off going for a wide range index fund (something that follows the S&P 500 for instance) or target date funds. Say you make 60% flat rate time, pay is 12. We wanted our mortgage low and we don’t need a massive house as we aren’t having kids. But if $80k is livable and the work is still appealing to you, then I highly recommend making the switch, particularly if you know from experience that the private I have been quoted a 7% mortgage rate. You only pay the applicable tax rate on the money you make AFTER that amount. Add the $500 or so in utilities/lawn care. I spent 2 years at that job learning the windows ecosystem and BPM software. 70% of my take home pay goes towards all kinds of savings for a down payment towards a house/apartment and whatever I want or need. At 125k HHI, (around 85k take home I would assume) you should be paying 20k per year minimum in total. iwnoe rsdvha ahdltiq qwvf jtj szenve gkub egseop wbqij oxd