Hi Guys, We are planning to move to CA Bay area for DH's work in IT. I know the cost of living in CA is high so wanted to make sure if the income of 70k is adequate enough to support a family of 3. Im not working currently.I would like all your inputs. Thankyou!!
lovinglibra, I have never lived in bay area. But heard it's very expensive. Where do you live now and what is your current monthly expenses? Add another 50% to the monthly expense. If you could manage it, I believe 70k should be enough.
70k should be manageable for bay area. but be aware of all the good things that bay area offers...lots of food options like restaurants, scenic adventures and others(like tahoe, yosemite, big sur, LA,vegas,etc), shopping, awesome cars, etc..these are things that rip us off our money. We were DINK(Double income no kids) couple earning well for 3 years in CA and we were left $10k at the end..so, it depends on how careful you can be about money.
Housing/renting would be the highest, and ofcourse pre-schooling in private institutions (as there are no public pre-schools typically). These 2 are the major factors. Everything else is not too high. On an average 1BHK is around 1500$.
