100k salary elitist club.

[Chaotic42]

IL.... my house isn't even 400k. Property taxes are insane. Want to leave trust me.

Yep. I looked at moving there when I was in the Saint Louis area. Absolutely a no-go. That state is a mess among messes.

 

[Ns1]

When y'all say "property taxes are insane", what does that translate to in dollars?

 

[repoman0]

Started the 401k at ~24 and with compound interest, it should be over a mil, which is pretty much minimum req'd for retirement when it's time. You best get it started asap.

Yep I max it out yearly, along with a separate ROTH and HSA. What I mean is, even the early retirement I'm planning for in ~20 years seems really far away. Not that I particularly hate working, and I work on pretty interesting problems but I'd rather be doing whatever I want.

In reality I will probably just end up dropping to 32 hrs a week or something and taking extra unpaid time off beyond my allotted vacation. My company is flexible like that and a lot of 40-50 somethings there do it

 

[bbhaag]

When y'all say "property taxes are insane", what does that translate to in dollars?

I live in Illinois but not the upper part of the state. I'm in the Peoria area and my property taxes are around $2800 and the appraisal on our tax form says the house is worth around $130,000.
We had our house appraised by an independent appraiser a few years ago and they came back with a value of around $117,000.

I don't know if that is insane or not but it does seem high too me.

 

[Red Squirrel]

Totally dependent on area.


Where do you live so I make sure not to ever live there. $200/wk for daycare? $800/mo for property taxes? I assume that means you have a million dollar house on that property?

Small town living isn't for every one, but shit I'd take it over that BS.

Pretty much why I love small town living. It's cheaper (though where I am costs keep going up exponentially, like taxes and sewer), it's quieter, it's less hustle and bustle, less pollution, feel a bit closer to nature etc. It has lot of perks tbh. Nice to own property and also be 5 minutes from work. I'd gladly live in an even smaller city. The nearby towns with populations much smaller than mine are even cheaper to live in and you get more property and often more freedom, such as what you can build. Big cities can be fun to visit as they tend to have more stuff to do but would not want to live in one.

 

[purbeast0]

When y'all say "property taxes are insane", what does that translate to in dollars?

My property taxes were like $4500 I think.

 

[ImpulsE69]

Don't you know they make us give our W-2's to even get an account here? OP must have gotten through on a government program.

 

[Rumpltzer]

When y'all say "property taxes are insane", what does that translate to in dollars?

Redfin estimates the property tax on this $570K murder house to be $603/month.
https://www.redfin.com/CA/Lawndale/4424-W-170th-St-90260/home/6571902

 

[Rumpltzer]

WOW you snobs! '100K is not even alot' ..... wtf is this earth? did i just time travelled or sumtink?
you guys know that 80k euros is ALOT in Sweden? AND THE UK... you muricans u gready.

I was on a phone interview with a prestigious European semiconductor consortium in Belgium last year. I like them, and they like me, but then they let me know that I'd be pulling in like 85K Euro... and that's where the interview ended.

I was also offered ~$125K/year + $200K bonus (vested over 5 years... if you make it that long) to work 80 hours a week in bumblefuck Texas (there's a reason you've never heard of McGregor, TX), and I turned that down easily. It looked like a lot of fun, but I was concerned about how to get myself back into "mainstream" salary once I decided to not live in the middle of nowhere.

So, yeah, Muricans are greedy. Fair enough.

 

[Dulanic]

When y'all say "property taxes are insane", what does that translate to in dollars?

11K on a 350Kish home

 

[TwiceOver]

Pretty much why I love small town living. It's cheaper (though where I am costs keep going up exponentially, like taxes and sewer), it's quieter, it's less hustle and bustle, less pollution, feel a bit closer to nature etc. It has lot of perks tbh. Nice to own property and also be 5 minutes from work. I'd gladly live in an even smaller city. The nearby towns with populations much smaller than mine are even cheaper to live in and you get more property and often more freedom, such as what you can build. Big cities can be fun to visit as they tend to have more stuff to do but would not want to live in one.

Yeah I've been eyeballing property just outside of town, close enough to get city utilities and be on a paved road, but man the price really goes up.

I get the appeal of a big city, I just couldn't handle it for more than a month or so, if that. I mean, I visit family and just "running to the store" is an hour and a half ordeal of multiple freeways and surface roads. "F" that, 20 minutes there and back for me.

 

[Ns1]

I mean, I visit family and just "running to the store" is an hour and a half ordeal of multiple freeways and surface roads.

what the fuck big city is this. Running to the store means I can go to any of the 5 major grocery stores, 3 big box stores, 10 liquor stores, or 50 MMJ dispensaries located within 15 minutes of my current location.

if you're really in a metropolitan area, mixed use has been the trend. condos on top of markets next to entertainment options. walk everywhere, uber what you can't.

 

[Capt Caveman]

Yeah I've been eyeballing property just outside of town, close enough to get city utilities and be on a paved road, but man the price really goes up.

I get the appeal of a big city, I just couldn't handle it for more than a month or so, if that. I mean, I visit family and just "running to the store" is an hour and a half ordeal of multiple freeways and surface roads. "F" that, 20 minutes there and back for me.

I live in the city and can walk a block to Wholefoods, Trade Joes, Microcenter, 20 miles of jogging/biking trails along the river and ten minute walk to Harvard or Central Sq to go to a hundred different restaurants.

Also, the lowest property taxes in the state where we get a $278k residential property exemption. It helps when you have Harvard and MIT which make millions of dollars in payments to the city and we have the likes of Amazon, Microsoft, Facebook, Google, Akamai, Facebook, VMware, etc.. to go along with some of the biggest biotechs and hundreds of smaller biotech/hi-tech companies. Have changed jobs numerous times all within a ten minute bike ride from home.

 

[Kaido]

Have changed jobs numerous times all within a ten minute bike ride from home.

Having lived all over the country, I can't even fathom that. My last job had like a 90-minute commute home thanks to traffic.

 

[Xpage]

Got my first "real" job outside of academia in a small biotech. Only reason I got in was through a connection and I bust my ass during my PhD and post-doc getting many papers out. Still underpaid a bit but in a hot field where I had little experience so it's worth the trade off, as I hope to be in the snob category after 3 years if I switch jobs. I need to start saving as 7 year PhD and 3.5 year post doc means I made peanuts for a long time. First paycheck is in 6 days

 

[Capt Caveman]

Having lived all over the country, I can't even fathom that. My last job had like a 90-minute commute home thanks to traffic.

I have lived in the burbs in the past and had some horrendous commutes. Won't do that anymore. My current job is two miles away and I had a 9am meeting this meeting. I left the house at 8:45am and locked up my bike in front of the office at 8:53am. My previous job, my bike commute was six blocks and 3 minutes. Doubling my commute time was difficult.

 

[NoTine42]

I live in Illinois but not the upper part of the state. I'm in the Peoria area and my property taxes are around $2800 and the appraisal on our tax form says the house is worth around $130,000.
We had our house appraised by an independent appraiser a few years ago and they came back with a value of around $117,000.

I don't know if that is insane or not but it does seem high too me.

It is a high percentage, and looks really crazy when you look at a $500k home (with $10k+ in property taxes.

I worked with a former contractor. He built his own home and only had a <$50k mortgage .. and his property tax payment was higher than his mortgage payment.

 

[child of wonder]

You know you've really hit "elitist snob" money when you buy the slightly faster, much more expensive CPU because you don't have the time or desire to bother overclocking it.

 

[Exterous]

When y'all say "property taxes are insane", what does that translate to in dollars?

I wouldn't say mine are insane but they are quite high for MI - some of the highest in the state. Technically its 2.8% but I'm not actually sure how the assessed value for taxes relates to purchase price and appraisal as my tax assessed value is almost $200k less. Our property taxes are $8100 on a house that we paid $370k for and a good chunk of that doesn't even stay in our city. Detroit residents keep outvoting the suburbs to raise taxes on the suburbs and send it to the city of Detroit. Hopefully they finish getting their shit together before they push everyone out of the county

 

[Tweak155]

Yeah my property taxes are also high, but this city is pretty nice where I'm at (~$7k on a $350kish property).

As far as salary, I stopped chasing a higher one (for now) as there is nothing I feel I am lacking at this point. You get to a point where there are better things to worry about (although it took me a bit to realize it) as a real life change due to salary is just way far out, and you have to decide if it's important to you.

We earn enough to max out our retirement and pretty much buy the things we want. I would only need a higher salary if I decide to start wanting more expensive things, which isn't me thankfully. I think the only thing that might change my mind is deciding to retire earlier, but right now I have no desire to quit working either. Since we max out retirement accounts though, I imagine I will have a lot of flexibility in that area later in life anyway.

 

[ponyo]

You know you've really hit "elitist snob" money when you buy the slightly faster, much more expensive CPU because you don't have the time or desire to bother overclocking it.

No, I would say that's something a young person who's making minimum wage at Best Buy Geek Squad would do. The "elitist snob" money is the type that drives something like a Maserati. They pay the ~$50k country club initiation fee and then pay ~$700 monthly fee so they can use the facilities and workout at the club rather than join mass market gym like Lifetime Fitness. To live "elitist snob" lifestyle, you need to be 1%er. That's typically over $400k a year in most areas of the country. The 1%er salary is the real benchmark, not $100k.

 

[child of wonder]

No, I would say that's something a young person who's making minimum wage at Best Buy Geek Squad would do. The "elitist snob" money is the type that drives something like a Maserati. They pay the ~$50k country club initiation fee and then pay ~$700 monthly fee so they can use the facilities and workout at the club rather than join mass market gym like Lifetime Fitness. To live "elitist snob" lifestyle, you need to be 1%er. That's typically over $400k a year in most areas of the country. The 1%er salary is the real benchmark, not $100k.

That was just me being snarky at the OP's poll stating 100k is "elitist snob."

 

[ThePresence]

When y'all say "property taxes are insane", what does that translate to in dollars?

I pay close to $9K on a $400,000 house.

 

[Exterous]

As far as salary, I stopped chasing a higher one (for now) as there is nothing I feel I am lacking at this point. You get to a point where there are better things to worry about (although it took me a bit to realize it) as a real life change due to salary is just way far out, and you have to decide if it's important to you.

Not only that but its a risk too. Is your new job going to have a better or worse work environment than your current job? I could make more money if I left but everything else about my work environment is great - easily the best place I've worked. For me its not worth putting that at risk to make slightly faster jumps in salary

 

[PricklyPete]

11K on a 350Kish home

No offense, but I can't fathom why people choose to live in IL. Crazy taxes, messed up government, and terrible weather.

I pay just short of 4K on a 700k house in downtown area of Denver.