what $180k actually looks like in nyc.

[apostlej]

180k in nyc is like 70k in most cities. So the 3k in leftover is accurate.

[exjd]

You're honestly doing better than 90% of New York 💀

[zacharyfair]

She basically maxed out 401K & IRA, paid 5K health insurance and was taxed at 40%. 180K - 20k 401k, 6k IRA, 5k health = 149K. x 40% tax = 75K / 12 months = 7, 500. Minus 4k rent & loan = 3500. So you are basically paying back debt, putting 26k/year away and still cash flowing 36k/year for food, clothing and entertainment.... She is forgetting to tell you about retirement accounts....

[nelsonhill]

Only $2000 a month in rent in NYC? That's amazing.

[haute]

NYC taxes are insane. You have to pay federal, state, *and* city taxes. I totally believed you when you stated your take-home pay before you showed those direct deposit amounts. Thanks for the transparency!

[wallyfm]

When I see things like this it actually blows my mind how my father was able to sustain me and my family for 5 years in Brooklyn with a salary of just 35k a year…

[xMister.Misterx]

That’s why i left NY. The taxes absolutely KILL your paychecks. Then on top of that the cost of living is sky high!

[katrinataylor]

This is why finances should be taught more in schools. Everyone thinks if they can make the big numbers it’s plain sailing when the reality is different.

[pokrstr]

I see a lot of snark in these comments. The point of the video is that out of $180k, her living expenses are only $3k a month. That reflects poorly on New York, not her. Living in New York is exceedingly expensive and 3k for expenses is not great. 3k might be amazing in rural parts of the country but is not a lot in New York. This folks, is called cost of living.

[ILovePickleface]

These comments are a good example of why you NEVER tell people exact numbers. No matter what number you say people will call you ungrateful 🙄

[sovietguy]

This is so deceptive. She DOES in fact net around 10k a month post-tax but for some reason pretends like the over 2k that she puts away for retirement don't count or something. She's keeping it all that money, it's just being put in bunch of retirement accounts. Also 3k a month of straight up disposable income is fantastic. I mean I live in new york and I understand the frustration of it being expensive but complaining about affordability on 180k a year as a single adult is pretty funny and out of touch.

Let's say she spends half of that 3k disposable income, then she can put away 1.5k to retirement + the other 2k that is automatically going to retirement from her paycheck so 3.5k saved every single month. She's putting away most people's annual income to savings / retirement every year.

[Moss_piglets]

3k after rent and loans, that's still great as a single person with no kids. It also helps to live outside of Manhattan. There are cheaper apartments outside the borough if one doesn't mind commuting longer.

[feliiiik]

Anyway you can break down your finances even more. These are very informative and why so many people still feel broke when making 100k

[brandoncomer]

Net take home on 180k in NYC is about $9450. What you're doing is is maxing out a 401k and probably a Roth IRA... maybe even an FSA/HSA... which are all tax deductible saving/investment accounts... and your passing that off as if they're expenses; which is grossly intellectually disingenuous. But as a lawyer I guess lying comes natural.

[cpa]

As a tax professional, I really appreciate this. So many people in professions that one would think are super lucrative end up with as much disposable income (if not less) than other professionals after loan payments and miscellaneous expenditures associated with the profession.

[Eirabear]

Its the way she ended this saying it’s not that she has little disposable income, it’s just that of the 180k she’s making, she’s taking a lot less home than she thought, yet people still call her ungrateful and out of touch lol. It’s a very good breakdown for a lot of people who need to think about what to invest in their future. Many people think they become rich just after becoming a doctor or lawyer, and while yes down the line it will be true for most, there is still a long time til you can relax. Is it worth it to go through extra schooling, not making money like your peers for it? Or should you settle for something else less paying, but you can start making money sooner? When one job offers you 100k in SF/NYC vs 70k in a southern state, what does this income ACTUALLY look like? Jfc some of y’all are so stuck up into your own problems that you can’t realize you are not the center of other peoples’ worlds 🤦🏻‍♀️

[jameslongstaff]

I make less than half you make, but I live in another state and my take home salary is just a little less than yours. My rent is also significantly lower and I'm debt free

[redred]

FINALLY someone just stating the facts of their life. She’s not complaining about a $6000 watch, she’s not being ungrateful. Just a realistic breakdown of what her situation is like and what I may look like for other people.

[Knite_el]

This is totally ridiculous. Any adult who has paid into pre-tax investments/retirement accounts and health insurance understands she is totally omitting that money... Which is still pay she is receiving and has access to.

And $180, 000 income for an individual is still in the top 5% or so of earners FOR NYC. Couples raise children on 80-90k in NYC... As in 4 people surviving on half as much.


She has no idea what she's talking about.

[NoWayJose]

I felt the same way after I went back to school and got a $12 increase in pay. Was shocked when my new pay of 80k turns out to be 50k after taxes. It’s bonkers