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Made 700k last year, when do I start feeling well off?
| Marvelous meetinghouse roommate | 02/20/20 |
| motley amethyst school cafeteria | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| Exhilarant office | 02/20/20 |
| bat-shit-crazy piazza gunner | 02/20/20 |
| Mind-boggling Kitchen | 02/20/20 |
| territorial bawdyhouse | 02/20/20 |
| glassy gaming laptop national | 02/20/20 |
| Saffron bat shit crazy chapel | 02/20/20 |
| nighttime plaza voyeur | 02/20/20 |
| Heady Trailer Park | 02/20/20 |
| Haunting electric site stain | 02/20/20 |
| Talented pit organic girlfriend | 02/20/20 |
| provocative new version corner | 02/20/20 |
| bateful feces range | 02/20/20 |
| Exhilarant office | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| bateful feces range | 02/20/20 |
| Concupiscible hideous rigpig | 02/20/20 |
| Haunting electric site stain | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| provocative new version corner | 02/20/20 |
| Fantasy-prone Garrison Double Fault | 02/21/20 |
| Brass sandwich | 02/21/20 |
| doobsian greedy mad-dog skullcap | 02/21/20 |
| provocative new version corner | 02/21/20 |
| doobsian greedy mad-dog skullcap | 02/21/20 |
| provocative new version corner | 02/21/20 |
| passionate milk | 02/21/20 |
| doobsian greedy mad-dog skullcap | 02/21/20 |
| provocative new version corner | 02/21/20 |
| Vermilion vengeful parlor | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| Vermilion vengeful parlor | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| Vermilion vengeful parlor | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| brilliant startling point mediation | 02/20/20 |
| Marvelous meetinghouse roommate | 02/20/20 |
| Shimmering sadistic base | 02/20/20 |
| charismatic chocolate scourge upon the earth mother | 02/20/20 |
| dashing sepia lay coffee pot | 02/20/20 |
| Talented pit organic girlfriend | 02/20/20 |
| doobsian greedy mad-dog skullcap | 02/21/20 |
Poast new message in this thread
Date: February 20th, 2020 6:14 PM Author: Marvelous meetinghouse roommate live in bay area. own a starter home and dont make enough to upgrade to a nice house. 1 kid, probably end up with 2 or 3.
should i put it all into crypto and hope for a big run up? |
Date: February 20th, 2020 6:21 PM Author: motley amethyst school cafeteria Shut the fuck up. (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39625900) |
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Date: February 20th, 2020 6:45 PM Author: Marvelous meetinghouse roommate (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626029) |
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Date: February 20th, 2020 6:46 PM Author: Exhilarant office (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626035) |
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Date: February 20th, 2020 6:59 PM Author: bat-shit-crazy piazza gunner (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626104) |
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Date: February 20th, 2020 7:00 PM Author: Mind-boggling Kitchen (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626107) |
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Date: February 20th, 2020 7:04 PM Author: territorial bawdyhouse (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626126) |
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Date: February 20th, 2020 8:29 PM Author: glassy gaming laptop national (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626487) |
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Date: February 20th, 2020 9:11 PM Author: Saffron bat shit crazy chapel (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626651) |
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Date: February 20th, 2020 9:12 PM Author: nighttime plaza voyeur (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626655) |
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Date: February 20th, 2020 9:33 PM Author: Heady Trailer Park (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626709) |
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Date: February 20th, 2020 9:34 PM Author: Haunting electric site stain (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626718) |
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Date: February 20th, 2020 9:35 PM Author: Talented pit organic girlfriend (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626720) |
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Date: February 20th, 2020 9:37 PM Author: provocative new version corner (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626738) |
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Date: February 20th, 2020 6:46 PM Author: bateful feces range What's considered a "starter home" in the Bay Area? (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626033) |
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Date: February 20th, 2020 6:47 PM Author: Exhilarant office brother, he's flaming. he does this every few months. and he's been doing this way before cslg. this is a very old very mentally ill poaster. (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626043) |
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Date: February 20th, 2020 6:48 PM Author: Marvelous meetinghouse roommate mods
edit: also not flaming |
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Date: February 20th, 2020 6:49 PM Author: bateful feces range Damnit (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626057) |
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Date: February 20th, 2020 7:00 PM Author: Concupiscible hideous rigpig (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626110) |
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Date: February 20th, 2020 9:34 PM Author: Haunting electric site stain (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626719) |
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Date: February 20th, 2020 6:47 PM Author: Marvelous meetinghouse roommate <2M (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626050) |
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Date: February 20th, 2020 11:44 PM Author: provocative new version corner Just rent. It is 1000x more reasonable than buying in the bay area. Examples:
https://www.zillow.com/homedetails/1833-Mezes-Ave-Belmont-CA-94002/15548196_zpid/
https://www.zillow.com/homedetails/837-Oregon-Ave-San-Mateo-CA-94402/15526338_zpid/
https://www.zillow.com/homedetails/3845-Mumford-Pl-Palo-Alto-CA-94306/19508440_zpid/
https://www.zillow.com/homedetails/Washington-Ave-Redwood-City-CA-94061/2081081967_zpid/
If you make $700k/year you just realize you'll pay a decent amount in rent, avoid committing to a mortgage on a $3-5 million house, and save a ton. Eventually you'll leave to somewhere less shitty with a pile of cash. |
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Date: February 21st, 2020 1:42 PM Author: Fantasy-prone Garrison Double Fault CR (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39629807) |
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Date: February 21st, 2020 1:54 PM Author: Brass sandwich ? Unless you have horrible timing luck, buying Bay Area real estate is a great way to increase net worth. You can buy an asset that grows at 8-10% per year with 80% leveraged at 3.6% over 30 years. https://www.bayareamarketreports.com/trend/3-recessions-2-bubbles-and-a-baby |
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Date: February 21st, 2020 4:03 PM Author: doobsian greedy mad-dog skullcap (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39630559) |
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Date: February 21st, 2020 5:15 PM Author: provocative new version corner I personally believe that it isn't going to last. One reason why is the disconnect between the rentals on these properties and the mortgage. You can rent nice houses for reasonable prices and save like crazy. Or you can throw most of that $700k into RE and hope the ride doesn't come to an end with you holding the bag.
I'd bet on the S&P 500 than CA RE. It has done pretty well too. |
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Date: February 21st, 2020 5:34 PM Author: doobsian greedy mad-dog skullcap it's called prop 13 in CA. prop taxes dont go up, so people who owned houses before big runups pay far less prop tax than expected, so their cost to hold is lower, so they can rent it out for lower (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39630971) |
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Date: February 21st, 2020 5:38 PM Author: provocative new version corner That's a part of it but not the whole answer. Even if you added $12k/year in taxes to each property (so add $1k/month in rent) it would still be MUCH cheaper than buying. IRL, this is speculation so people are buying into it on the theory that it can never go down. So people that are generally wealthy throw all in to buy some $5 million house in CA because they think it might be worth $10 million in a decade (after all, it was worth $300k a decade or 2 ago).
My view is that this is a path to feeling poor in SF and riskier than people think. Over the past several decade the tech industry was founded in the area and exploded. However, tech is spreading out and less localized and CA has a ton of serious problems. And if that $5 million house ends up being worth $2.5 million, then you're fucked even if you make $700k/year. If you've been renting and throwing in the S&P 500 and it declines by 50%, you're still fine. |
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Date: February 21st, 2020 2:04 PM Author: passionate milk Terrible advice.
The only way to riches for highly paid wagecucks is through RE appreciation. |
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Date: February 21st, 2020 4:02 PM Author: doobsian greedy mad-dog skullcap (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39630556) |
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Date: February 21st, 2020 5:13 PM Author: provocative new version corner Then find that $700k job somewhere else. If you believe that long term SV/SF RE is a great investment then go for it, but personally, I would just rent. (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39630893) |
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Date: February 20th, 2020 6:50 PM Author: Vermilion vengeful parlor chances are you will never feel well off (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626061) |
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Date: February 20th, 2020 6:52 PM Author: Marvelous meetinghouse roommate I think 2M a year would cut it (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626072) |
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Date: February 20th, 2020 6:54 PM Author: Vermilion vengeful parlor what would you need to buy to feel "well off"? (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626081) |
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Date: February 20th, 2020 6:58 PM Author: Marvelous meetinghouse roommate really, a nice house in a good school district (so $3-4M in bay area) while not being house poor (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626098) |
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Date: February 20th, 2020 7:18 PM Author: Vermilion vengeful parlor you could swing a $3m mortgage if your income is stable. rate are ridiculously low right now. (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626214) |
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Date: February 20th, 2020 7:29 PM Author: Marvelous meetinghouse roommate yes, I think that gets house poor though. at 1M+ i would feel more comfortable (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626262) |
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Date: February 20th, 2020 7:02 PM Author: brilliant startling point mediation You'll never feel rich in cali or NY (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626118) |
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Date: February 20th, 2020 7:13 PM Author: Marvelous meetinghouse roommate i think sadly this may be the only CR (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626184) |
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Date: February 20th, 2020 8:33 PM Author: Shimmering sadistic base First year I felt rich was when I made 3 million. I didnt even feel rich when I cracked 1 million. (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626502) |
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Date: February 20th, 2020 11:47 PM Author: charismatic chocolate scourge upon the earth mother (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39627520) |
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Date: February 20th, 2020 9:13 PM Author: dashing sepia lay coffee pot email me (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626656) |
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Date: February 20th, 2020 9:35 PM Author: Talented pit organic girlfriend leave california if 700k doesnt do it for you jfc (http://www.autoadmit.com/thread.php?thread_id=4449539&forum_id=2#39626726) |
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Date: February 21st, 2020 4:44 PM Author: doobsian greedy mad-dog skullcap Blankfein, who has an estimated net worth of $1.3 billion, told FT that he is not rich, but "well-to-do." "I can't even say 'rich,'" said the former banker. "I don't feel that way. I don't behave that way." |