How Much A New Yorker Should Earn to Live Comfortably

How much money do you have to make to live a “normal” life in New York and still save and invest aggressively? We break down the numbers pre- and post-tax to find out.
Watch the full episode to see all about the tradeoffs and advantages of living in high-cost-of-living areas: • How to Become a Millio...
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[@andrewwong8483]

This tracks really well. Great analysis at the end!

[@Thyst1]

So I guess I don’t make enough money to live in NY even tho I’ve been here for over 50 years. Is 120K not enough? It is sustainable for me and my family but I do have a hard time saving. At best, my wife and, excluding our home , would bring in about 3-4 thousand per month when we retire. If I pay off my mortgage and keep a tenant in my home, I think retirement would look decent. I make about 6K per month now. Retirement in 15 years I’d probably make 3-4K per month plus the income from a rental which would be about 3-4K.

[@Rk-m84]

Always loved your content Katie. ❤ you are underrated. 2023 will be a great year for you.

[@MoneywithKatie]

Thank you, Rakesh!

[@world-cup-420]

Thank you

[@FIyingDumpling]

Comfortable is also relative

[@joey2545]

This is really awesome! I love trying to extrapolate based on google numbers. Do you think it's possible to do this same thing for someone living in Dallas, Texas or somewhere with a similar cost of living?

[@benficaM8888]

so genuinely i'm confused. you need to earn like $260k. how can anyone survive?

[@world-cup-420]

Wonderful

[@lspag]

$415K sounds about right for a regular middle class family life in NYC. Nobody I know makes under 200 grand a year and obviously stay at home mothers are the preserve of the wealthy. As far as upper middle class goes - private elementary schools start at $50k a year so you can extrapolate the numbers from there.