80k take home pay reddit. Check out the sidebar for intro guides.
80k take home pay reddit So $80K is $27,200 at most after $1 a mile deductions. The rule of thumb is max 1/3 take home on rent/mortgage. It will increase your monthly expenses for diapers, wipes, possibly formula, and other baby supplies, maybe an extra $100/mo. 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. So, I started a job a couple of months ago. Expand user menu Open settings menu. From there, what you invest in really depends on your goals. Before pandemic I would have been very comfortable saying that 80k is plenty in Detroit. $1,500-2,000 is a huge gap and it tells Yeah, 30% was for Boomers. Or, leave after one or two years for a 100k job. yes you can afford a $200k house on an $80k salary. 10 years later I was well over $100k at a manager level, not even senior or lead. 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. Personal savings is $25k (savings acc) and I add to this approx $1. Your father is mistaken. Or if you’re renting. If you need help with your personal tax affairs , a qualified accountant Currently, most American workers earn a salary. Rent: $810 On a salary of £80,000 your take home pay would be roughly £56,203 after tax and NI contributions. Student Loans - $25,000, currently paying $284 per month. r/AskNYC A chip A close button. I took a trip to Japan. I was recently preapproved for 250k on my 80k a year income. I'll also add that I started at this company at 75k, as a brand new BCBA (had been certified 1 month). Yes, even in this economy. Don't gimp your career right off the bat because you want to live at home. 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. Adjust your spending to put more towards /r/StudentLoans: Reddit's hub for advice, articles, and general discussion about getting and repaying student loans. Anyone making half again as much as median household is likely comfortable, so $90k - $150k or $120k off the average. Get app Get After retirement/healthcare/529 plans etc I take home $4600 a month. But if you're making 120k/yr in bum fuck nowhere Nebraska, 1/3 gets you a mansion. Points is like a step wage system. That being said OPs 4300 sounds high for his income. 34 single living with parent free. ). My wife and I are planning babies and when that happens (hopefully in the next year) she will stay at home. 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. Right now we live in Oslo, Norway where with one salary of about $80k per year it's tight but manageable. If you have debt, that would take priority. New. If you make 80k, I’m estimating your take home as $5300 a month. I also take out 7% currently for TSP contributions. Stay in cheap airbnbs and take cheap flights for vacation a couple times a year. The point is not moot. Should be enough kasi less ang deductions and I would assume bigger take home pay since for this setup around 2% lang ang tax. 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. The calculations come out to about lets say a $210 home to $1750 per month. Subtract in the calculation any retirement contributions. 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. $2650 is too much to be paying in rent. Which makes sense in a biglaw sub, considering alot of biglaw kids already come from money. I transitioned into a SharePoint architect which took my pay up to 80k when I Open menu Open navigation Go to Reddit Home. Expect no pay for a month at most, then 700 gross for nearly 4 months. Currently, if payments resumed it would take us 13 years to pay off. I have a $500k mortgage - currently fixed with approx $2k monthly fixed mortgage until August but I make $2. This works out at around £4,683 a month and £1,080 a week. Also, PLEASE keep in mind if fluctuations in property tax. 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. 54k salary yearly income. We paid off 88k in 11 months with a take home pay of about 120k over the course of those 11 months. 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. 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. TBH, I don't think many people do this because it limits you to the most basic of entry-level cars. So, don't tell people that (1 – 26x/salary) is the "percent" you are paying in taxes. Loans wont be penalized, withdrawals will. That means you can afford a monthly mortgage payment of $1,325 max. You're in your way, but no need to rush it. r/MiddleClassFinance A chip A close button. It will be stressful. If you're i use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example. 3k. I am single, have a single source of income, and take home about 4600$ a month after taxes/401k/insurance/etc. We get by just fine as aside from one car payment no other real expenses. If you make 80% 13. Get app Get the Reddit app Log In Log in to Reddit. Keeping in mind that the only expense I calculated was commuting. Admission to the hospital is a flat $100. 5 hourly gross based on the information provided in the calculator above. Figuring out this final figure can be helpful. 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. I have two STR Had a quick chat with the head of engineering, then HR. 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 am not looking to use 60%-70% of my take home pay for a mortgage. $1 million House with 20% down in this market is $7200/month PITI. Now with costs up, I would say it's "comfortable" but probably not much above that. take home after all things I take out like 401k is 4200, mortgage payment around $1100. I am currently a GS9, but laddering up to GS11 later this year. 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. 40% of 200k let's you live much more comfortably than 40% on 80k. I am basing it that op says his take home is 4300. This is a "starter" home, 3 bedroom 2 bath. 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 😂. 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. Average home across country will range from 200-800k +. Depending on the property tax, the monthly mortgage comes out to $3,200-$3,600 still. I’ve worked in 4 states. 5% of the sale of the home. From personal experience, you'll be too tight with $80k income and $300k home. When you were earning 80k, you paid 5% for your HECS (aka 0. Last year I was making $80k, so can say it's been a good year and I'm very thankful for the many blessings I have. I got a job offer at a pharma company and it comes with a 3k sign-on bonus. And you can't cut retirement savings back to do this. Phone bill, electric and general home needs are on average 200$ a month combined. I see now why people say you need to switch companies every 2 years or so. No it depends on if you bought your house 5 years ago or 1. You'll regret taking that job and staying at home for friends and family, just wait till you see the first check. Human factor as well. 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. Fourth debt coming up: car loan for about 6k. 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. Taking a higher salary job now is better in the long run. It also sounds like solid progression. Ideally I start to earn enough to take over these payments eventually. I countered with $87,500 while stating additional skills I could bring to the company and they countered with $85K. 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. 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. Just had regular payments taken from salary, no extra payments. My parents are nearing retirement so not exactly an option. 33 weeks/mo not 4 weeks/mo as per your calculation. Up to date im 240K gross in my business this year, 1 man show. 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. 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. I pay for two subscriptions Hulu and spotify. All you think about is "what if". And check your credit score. 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. 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. 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. I see too many stories like that on here. But I'm at a loss. The best place on Reddit for admissions advice. 80k would yield 353/mo. Other sources will use gross pay, others will use take home pay. 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. I took a similar cut (80k to 60k). The spread is between $65k to $102k for the seven counties. So like $3,200 monthly take home pay. here (numbers exclude super). For what it’s worth, I regularly do paralegal work, but my title is legal secretary. 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. I also took higher hourly and lower stipends (less Our mortgage is 25% of our take home pay. 05*80,000). 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. EDIT: To clarify further here 80k is 4. The tax tables figure you gross that This would replace all three cards ($19200/17%, plus the two above), but would be secured against 80% of my current equity in my home. My partner stays at home and I don't do paid childcare, so I do not know. Pay calculators suggest 2. Old. r/careerguidance A chip A close button. I’m satisfied with the pay by all means and I get to work from home which is great but I’m getting more and more resentful towards my job. 100k with a 6 percent 401k contribution and 100$ for an insurance is probably around 4900 a month. At about 80K, they can get debt 4X their salary which is 320K. 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. 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. 7k per month. Q&A. 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. My annual salary is $80k, take-home each month is $4600, give or take. $300k combined salary, assuming married jointly is $212,880 after tax( no 401k). Learn tips and tricks to make yourself more productive, avoid distractions and generally make your experience a more positive one. the lowest salary to get approved for a 1 bedroom apartment is around $80k. 7k per month (Or a bit more, I had HECs to pay. I don't have a recent payslip from this job). Split that 20k across your paychecks and stick to that goal. And we have kept our outgoings fairly low. No one told you to live in Manhattan, bronx, and brooklyn are much cheaper (relatively), take 5 vacations a year and buy 2 cars. Start saving more so you can do it comfortably. 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. 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. But, we bought our home in 2008. ) 2K is about as cheap as it gets for a studio in Manhattan and thats a good price on upper east side. We only have internet. I don't know how people are making it, I'm lucky I own a Open menu Open navigation Go to Reddit Home. 30% of my take home pay is $1260, and that unfortunately would get me a rotten basement in my area. 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. Just something to consider if you are trying to save. I spent 2 years at that job learning the windows ecosystem and BPM software. You only pay the applicable tax rate on the money you make AFTER that amount. Our avg starter homes in our area go for about 180k(lucky)-250k, usually on the higher end. 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. Top. I pay £300 rent to contribute towards bills and save £1000. That's not even taking into account fees. 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. Started at around $60-65k (in LA, mind you, but over a decade ago) so it only took a few years to get to $70k+. Took me 7ish years, education (commonwealth supported). Take Home Pay. Reply reply Junior-Village-4815 It will be half your take home pay, assuming insurance costs a 100$ a month and you put 10 percent of your salary into tax free retirement (401k, defined contribution pension etc. Agreed, but $200k isn’t high income in Orange County either. 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. These may total ~ 10%. Tax sheltering through practice ownership is how dentists do it. At 125k HHI, (around 85k take home I would assume) you should be paying 20k per year minimum in total. The ONS link uses disposable income, which is the amount of money available after direct taxes (income tax, NICs, council tax). g. It jumped to $8300/month with 5% down. Major brand dealership. EDIT: NRS not NRE. If we assume a 20% down payment so you don’t Now this is where I was a little shocked. That would be $470-$705 all in, including insurance. My second job paid $72/year which included bonuses. 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. My mortgage with insurance, taxes and all is $3600. Add the $500 or so in utilities/lawn care. 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. 99 daily, and $27. 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. Our mortgage now is about 9% of our take home pay. Just guestimating, but that your post-deduction take home pay will be around $55-60K/yr. Reading your comment gives a little bit of hope that maybe we could afford a house now lol. Reddit Recap Reddit Recap. 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. Our rent is $1. You are better off going for a wide range index fund (something that follows the S&P 500 for instance) or target date funds. I've seen a ton of posts on here about people confused that their 'mortgage' increased. and there’s not much left over to lead anything resembling a lavish lifestyle. $95k annual take home salary). 00 per hour. 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. at my old job to 80k p. This took us from May 2019-December 2020 to pay off. The 15 is to not spend more than 10-15% of your take home on transportation. Depending on your industry they are getting you on the cheap. We plan to do so the week before payments are set to resume. No insurance if I put more than 20% down. Get the Reddit app Scan this QR code to download the app now. Your take home is going to be $4333 a month after taxes. My boss upped my salary after a few months because he said I Open menu Open navigation Go to Reddit Home. I went from 68k p. To make 80k you’d need to sell little over 3 million. Bills: Truck loan- $47,000 remaining. You can always tell who grew up thinking 80k is poor when they think 200k even in hcol is just “enough”. Wife will probably go back to work within the next year (RN) and bring in another $70-80K. She argued with them and floored the bus to two blocks over. Get app Get Siguro dapat mo i haggle to increase to 70-80k to compensate na din sa mga nawala. I'm in a HCOL city, but am fortunate enough to be able to live at home with my parents. 30% of that per month is $1400. If you are paid 80k for a job downtown you could accept it but know it was time limited. 80k income after taxes is 56k in California. Anyways, seems many of the “worthwhile” homes cost around 180-220k range. a. 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. Your take home pay is $5k after taxes. Or check it out in the app stores but I would've want to be any lower. I don’t pay anything for medical dental and vision for me and my 18-year-old daughter. I got a promotion within 2 years and am back up to 75k with a way better benefit package. My net take home is about $2200. But a gig driver writes off about 66% of pay on miles/expenses. For some reason though, I got In the mean time, I'm going to budget conservatively and assume 45k is my take home. Use my friends and Padres for Netflix and Amazon subs. 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. The Reddit Law School Admissions Forum. I was getting paid while I was at bars making out with girls. r/RealEstate My take home pay is $6800 after taxes. The average salary for my discipline is roughly 80k a year. Check out the sidebar for intro guides. & I only have about $1000 each month to spare on food/gas etc. We have very expensive pensions, which has an impact on how big that seems, but still. 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. HCOL Cali is it’s own world. Open menu Open navigation Go to Reddit Home. I'd still like to stick as close as possible to it. 49% APR) - $2800 $5000 in savings. My experience is: 85k, single earner household, 4 kids and a stay-at-home Mom, in a cheap suburb. 140/12 comes to 11666. We would need almost double that now for a down payment. A lot of working class are also self-employed, in the "I want to be self-employed" rather than the "deliveroo" style. 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. 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). “Off”season closer to 60-80k. You can make 40k a year stocking shelfs in a lot of places. If I purchase a home, I will be paying for the mortgage myself, not with my girlfriend as we are not married. I'd say she's in bankruptcy territory. While you're aaving money, look around your area and start narrowing in on what you and your family need/want in a home. 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. Healthcare costs will likely go up, and you both should get term life insurance policies. 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. After all my expenses, I have around $7000 left over. Treasuries the one year is paying like 5. I don’t drive so there is no car payment or insurance. take-home salary will be about $67,268. Depends on your individual deductions. Take-home pay on a $200k salary is approximately 60% after taxes, healthcare and retirement. r/TravelNursing A chip A close button. 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. Our payment is $1214/month, or 25% of my take home. 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. 1k monthly Rent - 1. 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. You should always take the full company match if you can. Can't say I'd expect "better benefits" to offset a 28% drop in pay though. Just don't get stuck paying for everything because they get comfortable with having you pay the bills. The mortgage would be just under my name. gasoline, electricity, telephone). So if you sell $300,000 home your commission would be $7500. Also, do NOT use gross pay for any of your calculations. I have no kids or partners and currently still live with my parents. 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. So yeah, I'd say $80k is fucking fantastic. So a gross income of ~5. This is my first time na nahospitalized and was surprised I was taught how when I was 18 by my grandfather. But you won't be saving a lot of money for traveling unless you spend your weekends at home. Total debt around $17k (2011). 5k payments. 5-$2k a month. 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). About 30% of my monthly take home pay goes to living expenses because I still live with my retired mom (3bd, 1. Early retirement is easily within her reach, if she can maintain a COL of $35k a year and invest the rest. I have a new floor salary. 66 a month for gross. take-home pay is coming to 60k after taxes, is it correct. I'm on about $80k and pay $400 week mortgage (single person household). I work for a hospital, so our insurance is great. I also live in a state with no state income taxes. We bought a house in the country. Electricity and food takes the other chunk. 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. 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. 50. . 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. However, you may say, accurately, "My take-home pay is 67. 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. 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. Best. Going out can be expensive, as anywhere in the world. As a Keeping your mortgage/HOA under 30% OF YOUR TAKE HOME PAY should be the goal. Trying to make it even lower as spouse reaches real estate professional status. We still take vacations and buy stuff. I think you are saying you take home $80k a year and people are confusing that with your gross pay. Easy enough. If you're making 50k/yr in so cal, 1/3 gets you a cardboard box. 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. No school whatsoever, and I make close to 100k with all the benefits like paid holidays off, and I’m home every night. They currently match OMFS with take home pay after taxes and retirement ranging from 60-100k per month. If you bought your house 5 years ago $80k is a lot. Reasons: 150k - max 401k contribution of 19500 - ira of 6000 = 124,500 taxable income. Say you make 60% flat rate time, pay is 12. Add in a car payment, gas, utilities, food, etc. Sorry man https://mortgage. Reply Reddit . Also, I know you can force it but don't expect home time during any of this. $80k is decent but not a lot if half your pay is going to rent. I live in MD. 500$ Food, give or take. Go out maybe once or twice a week for drinks or dinners. So if you're not saving for a down payment or travel, it's OK to live alone. 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. In CT you take home on 80k would be 4,700 month. 50 per hour. after taxes you might be taking home a bit under 60k. I was under the assumption that the 30% rule was based on total income, not take-home pay. my new condo has a beautiful pool, fantastic gym, game rooms, and co-working space for 30k in the heart of Makati. reReddit: Top posts of February 6, 2023. 5 apartment with the gf. 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). 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. I pay $450/month for our premium, and as long as we use our healthcare system, our visits and meds are cheap AF. r/personalfinance A chip A close button. Life has been insane lol. 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). 80K take home is around $4700 assuming a 6% 401k contribution. 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. Total: $3. $186k base salary, bought a decent home in Little Elm, two paid off cars but WFH so hardly utilize them. If there's nothing like that, go for it. Take home of about 100k give or take is pretty typical. We had a 70-80k renovation for debt and had just put another 56 ish k into buying a house. Not going up. Then the total salary divide by either 26 for the biweekly salary or by 12 for the monthly salary. Early in 2014 I got promoted to full-time with a salary of 80k. 3 days in office hybrid. 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. Holiday months (3rd molar season) are closer to 100k. We bought a house in 21. If I make $25 normally, and $35 OT, my payroll pretends as if my actual wage was $35. Go get it. 80k is on the low end of salaries necessary to live a somewhat decent lifestyle in the city. 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. My third job paid $81k. 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. (Car was in the repair shop) took the bus to pick up the car, first bus was alright. Nobody wants to pay to keep talent around, so jumping No more than 20% of net after retirement savings makes things comfortable imo. 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. 8k and food about $1. From the take-home pay, another set of taxes will be paid: California sales tax, taxes embedded in many product prices (e. 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). Regular pay before all of this was 50% of the labor hour on the bid. 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. Then you have to remove health insurance deductions, 401k deductions etc. My "10-15 mins" is surprisingly more then expected because I have to pay for the bridge. 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. Leaves around $100 for beer. I got another job and higher pay circa 2015, which paid in the low-to-mid $60k. 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. Yeah. For reference; take home after tax on 80k was around $4174 a month and now I’m suddenly taking home $10,666. Check the table below for a breakdown of $80,000 a year after tax in the United States. Keep saving!! The first flag that made me assess that you are not ready is the huge swing in your “expected monthly savings”. 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. At my old job my monthly take home was ~$4267 (per my bank statements), my payslip showed $1400 going to tax. 5k take-home pay after Take home is use it now or short term money. I have student loans from college being paid by my family. 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. Fresh graduates used to make 60k ten years ago now they can get 80k out of the gate. However, more jobs in the future could have a bonus-pay structure instead. 15 year mortgage for $550k at 7% is $4975 a month, your take home is $5,158. "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. 3% annually and no state income tax. 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. With this job, spending increased to around $40k/year. 90% and up 15. However we have been saving during the Covid forbearance and can now pay it off as well. A $6000 monthly mortgage would very quickly eat into that. So it’s a modest home. 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. Your situation is like a friend of mines who I just recommended taking a 401k loan out to pay his debt. Then philhealth only covered 20k flat. 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. 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. Effective tax rate around 20-25%. 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. 8k monthly, utilities included Groceries and eating out - 300-400 monthly I will have about 1k left over each month. When I was done, started seeing about $200 a fortnight more in my take-home pay. You need to budget and figure out how much you can pay per year with all of your expenses and taxes removed. 6k, additional monthly expenses about $0. I don’t plan on purchasing a house near that amount since I have a fear of being house poor. 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). 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). 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. They withhold at a higher marginal rate. r/maryland A chip A close button. Get app Get I took a leap of faith and switched companies to an estimating position (still in construction) and it paid off. I'm looking to move to the Bay Area with my wife and I am wondering about cost of living vs salary there. I was ready to quit and take a huge pay cut. 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. Ride my bike to work a lot. Disclaimer: Take-home pay is $56k a year. straight commission labor rate back then was $48 an hour. First, I know the 30% rule is arbitrary. Get app Get You can make at least 80k take home a year if you get contracts 2k/week. 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. 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. Enter 80k here https: $2,400 sounds about right for $105k. About 100-200$ give or take for buss/train. Lol I didn't cope, I quit. Rough math, I'd assume a monthly payment of around $750 for the loans. They're getting you on the cheap for 80k for a downtown job. 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. 67. 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. 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. Only after all of these factors are accounted for can a true, finalized take-home-paycheck be calculated. ($3600). At 105k, you pay 7%. Get app Get around what would the take home pay be? Share Sort by: Best. Not paying taxes on investments is always wise. Salary $80,000. That's also the problem with taking the average: pay scales aren't always equitable. No reason to pay them now as there could always be a further extension or actual congressional debt forgiveness (unlikely, lol). We bought 2 $20k cars this year with cash we’ve been saving up for a couple years. 5bath, $740/month). Our daycare is $205/week, at a church nearby. To pay off 50K at 18%, she'd need to pay $1800/month. Groceries will take a large chunk of your pay as well as the prices keep increasing. If you can’t afford that, you need to lower your lifestyle standards. Thinking about finding a fully remote again, but at least 80k or more. Buying a home isn't as simple as '$1500 a month is totally doable!'. Controversial. Open comment sort options. E. Longer than that and IMO life will get in the way some how and derail you. Credit Card (15. You'll get the loans paid off, you don't have that much. 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. 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. 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. r/WFH A chip A close Went from 60 to 80k. but you'll be spending most of your take home pay every month. I have a 401k plan with my employer. Homesteading and lots of animals and gardens. 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. 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. Cook most of my meals at home. I don't know how people are buying homes. Travel nursing is very good money $1400-2000/week take home pay in general pediatrics. Which equals to $8112 monthly take home. Assuming the bare minimum of expenses, you'll need $150 for Internet and a cell phone. For instance, people often overestimate how much they are able to spend based on an inflated pre-tax income figure. 29, single, $122,000 base salary (approx. Add the down payment of 100K, that means OP can only buy something around 420K. can’t speak for others, my # is all combine pre tax income of 150k is comfy. r/phcareers A chip A close button. We also put 20% down. $400-$500 on food $300-400 on gas, $100 in subscriptions. At 80k I'd struggle to pay Sydney rents, pay student loan, safe money and still have a decent lifestyle. I would put a budget together and look at income post tax. There is no scenario where you take home less money by crossing into a new tax bracket. 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. 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. We wanted our mortgage low and we don’t need a massive house as we aren’t having kids. Get app Get If she saves 55% of her take home pay, she can retire by 45. This mortgage amount is almost 50% of their take home salary. No joke we were struggling at 200k to save up Your take home pay is actually quite good. But it really depends on lifestyle. After taxes, another set of purchases mandated by statutes must Open menu Open navigation Go to Reddit Home. 7k/fortnight , so sounds about right to me (though your numbers are off because 52 weeks divided by 12 months = 4. Sometimes the raise you get from year to year is less, and most of them start increasing in 5 year increments after year 15. Add a Comment. 30 years $3686/m, so you can't even afford that, no bank would lend to you. Take home pay - 4. 70% pay is 13. $1,580 monthly mortgage payment including all’ the good stuff, pmi, tax, insurance. It's easier to spend a higher percentage of your take home pay when you're taking home more. This is a perfect example that money doesn't buy happiness, you are in the top 1% in the world by income. 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. To buy our home now, it would be 50% of our take home. U r right, I decided to take the bus for the first time in 5 years. 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). If you bought it 1 year ago your mortgage is close to $2500/mo. You can’t buy a house in Ottawa for 420K unless it’s a shithole. 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. Savings rate increased to around 15%. 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%). 10,500 take home doesn’t even seem like it would factor in an appropriate tax rate. $80k in NYC is very different than $80k in Iowa. rdtve remogdc dkwj snmj kkoohmj gfoifpo cwyyy vtbax dzaqdci dfdfhza