NYCPHP Meetup

[Peter Sawczynec]

I thought standard rule was that housing should not exceed 25% of gross, and
consumer credit cards should not exceed 10% of gross.
This ratio means you can meet your other basic bills.
Anything over than means you will struggle.
Most banks/accountants look the other way if your housing goes to 33% of
gross.
Ten or more years ago there was an article in New York Magazine indicating
that many people spend 40 - 50% of gross on housing in New York City.
 
There was a TIME Magazine cover story, again at least 6 years ago, espousing
that $125K was the new ultra perfect salary to command to live great.
 
I have lived in Manhattan's Upper West, Upper East, East Village, and
Chelsea, Later in Park Slope. Then Long Island. Lastly, Riverdale in the
Bronx.
Essentially, I do know from whence I speak.  
 
Whatever your per annum objective, on a more micro scale: making $65 per
hour is when you will finally feel free. 
$45 per hour is good. $35 tight. Any less, it is all a wash and a loss.
And you gotta realize many other non-programmer professionals (dentists,
lawyers, accountants) command $90 - $300 per hr.
 
I have found:
$55 - 65K: you will have little free money and taking a taxi will seem an
extravagance.
You may actually live in a walk up. 
Kids will have to go to Public School. (So I recommend Park Slope over
Queens any time.)
Yes, your wife should work, but then cost of day care / nanny will drain all
that extra cash. 
You will need to use no cost play groups, etc.
Parking per month often costs way over $100. Many people pay $300+.
If you think you are going to drive around: Average parking lot in Manhattan
starts at $16 - $20 for first hour.
Meters are now 7 days, on many side streets and many cost $1.50 per hr.
You will do a lot of Chinese pick up.
 
$80 - 90K: you can feel alright. Rent a car for the weekend. Drive upstate,
see Woodstock. Do the Vineyard. Once. Check out the Hamptons. Once.
Go out to dinner at $80 1x per week. Eat sushi sometimes. Rent a lot, a lot
of DVDs. Still predominantly order out Chinese. Or Thai as a treat.
 
But you can definitely do it at any price. Lots do.
 
But myself, 20 years ago I used to recommend to all young kids: go to
college, come to New York.
Now I say go to college. Then go get started in a second tier city like
Dallas, Phoenix, Miami, Denver. 
 
After traveling I have found so much beauty and better value in other
cities. And many people all over have 
great lifestyles with spacious homes. 
 
All my family, every good friend I ever had has long ago moved away from NY.
None. Not a single. Has ever returned.
 
Go figure.
 
Peter
 
 

-----Original Message-----
From: talk-bounces at lists.nyphp.org [mailto:talk-bounces at lists.nyphp.org] On
Behalf Of Joseph Crawford
Sent: Thursday, August 03, 2006 12:44 PM
To: NYPHP Talk
Subject: [nycphp-talk] [OT] - NYC Salaries


Hello,

Guys i know this is off-topic but i may be looking to move to queens and
have a job in NYC.  The salary is 65-80k DOE

i am wondering if this is enough to support a family on.  I checked into
some apartments and they range from $1200 - $5000 / mo depending on what you
get. 

I know at 65k i could afford a 3br at no more than 2000  mo however what i
wish to know is would the remainder be enough to live on in NYC.

that would leave about $1629, that is basing it on a monthly salary and
witholding 33% for taxes. 

I am not sure what gas, registration, vehicle taxes etc. are.

Could some here that live in NYC please give some advice.

Thanks,
-- 
Joseph Crawford Jr.
Zend Certified Engineer
Codebowl Solutions, Inc. 
http://www.codebowl.com/
1-802-671-2021
codebowl at gmail.com 

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