Question: How Much Money Do You Need To Live Comfortably In California?

Is 70k a good salary in California?

70k is enough but it will ultimately depend on what you want out of your living situation.

You’ll likely need your wife to work or for you to pull in more per year.

70k gross gets taxed pretty hard in Irvine..

Is 100K enough to live in California?

The folks at the personal finance site GoBankingRates.com looked at where a $100K income would be considered “good” in America’s 50 largest cities. Eight of the cities are in California, and it likely comes as no shock to those who live in the Golden State that $100,000 doesn’t go too far.

What is considered poor in California?

Bohn uses the California Poverty Measure, an estimate of the poverty line that the institute developed with Stanford University, which adjusts for costs of living across the state. That’s about $32,500 per year for a family of four, compared with the national poverty line, which is estimated to be about $25,700.

What is considered wealthy in California?

Net worth, relatedly, is an individual’s wealth minus debts. Californians’ net worth totals over $6 trillion or about $160,000 per resident. The state holds 17 percent of national net worth, while making up only 12 percent of the U.S. population. California has about 1,650 zip codes.

What is a livable salary in California?

Living Wage Calculation for California1 ADULT2 ADULTS (1 WORKING)0 Children2 ChildrenLiving Wage$18.66$40.83Poverty Wage$6.13$12.60Minimum Wage$12.00$12.00

What is middle class income in California?

US Household Income by TierLocationMiddle Income2Alaska$84,015.003Arizona$76,860.004Arkansas$76,569.005California$77,806.006 more rows

What is a decent salary in California?

The average salary in California is $63,783. That is the median salary, which is a more accurate picture of average salaries in California than the mean salary.

What is a good salary in Los Angeles?

You’ll need a staggering six-figure income to live comfortably in Los Angeles: at least $136,207 if you’re paying rent or $150,391 if you own a house. The salary needed to live comfortably in Los Angeles has risen by more than $25,000 in the past year, due to rising annual costs of transportation and utilities.

What is a good salary in America?

The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.

How much do I need to make to live in LA?

Using the 50-30-20 rule for personal budgeting (50 percent of income toward necessary costs like housing and food, 30 percent for “discretionary spending” like entertainment and going out, 20 percent for savings), an Angeleno needs to make $74,371 a year to live “comfortably” in Los Angeles, a study by finance site …

Is 80K a good salary in California?

80K for a single person is more than Decent. If you want your money to go further move to the eastbay. I”m assuming after taxes your take home pay is around 5000 per month. You can do just about anything you want with that money since you have no kids etc.