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Thread: 70 k/a salary: alot of money?

  1. #1

    70 k/a salary: alot of money?

    Someone mentioned in another thread (maybe the Doc) that 60k/a of salary is considered "rich" or "middle class". I've been away from Mtl for quite some time, although I visit often. There might be an job opportunity around 70k/a.

    For a single guy, how much savings can I expect?

    I'll pay rent up to 800/month (can I find a 1.5)....I remember the good old days of < 400/month in a prime location in downtown for a 1.5.

    Thanks for any comments you can offer.

  2. #2
    Original Dude
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    i would be happy as crazy would i get this... thats all i can say
    Life is a party ! Death is the Hangover.. 70-49-6

  3. #3
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    Quote Originally Posted by malboro_man View Post
    For a single guy, how much savings can I expect?
    Impossible to answer. Do you plan to live like a monk? Holidays? Car? Girlfriend ( future )? Eat out? Eat proper? Dental bills? and the list goes on.
    You know what you spend in a month, do the math.
    I do not think outside the box, I do not think inside the box, I do not even know where the box is.

  4. #4
    Quote Originally Posted by malboro_man View Post
    Someone mentioned in another thread (maybe the Doc) that 60k/a of salary is considered "rich" or "middle class". I've been away from Mtl for quite some time, although I visit often. There might be an job opportunity around 70k/a. For a single guy, how much savings can I expect?
    Depends where you live. In Manhattan you would live like garbage on that amount.

    Here in Montreal, you will be a king. You should be able to finance one escort a week, from among the classiest most beautiful ladies in the world, and put away $20,000 a year into an RSP on that salary.

    Making $70,000 a year in Montreal, is like making double that anywhere else in North America.

  5. #5
    Registered User
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    Hmmmmm...Let's do some easy math.

    Rent: $10,000 / year (average but nice place)
    Utilities: $ 2,000 / year (overestimating here)
    Car: $ 10,000 / year (assuming you are leasing, this amount includes gas money)
    Food: $ 10,000 / year (assuming you eat out 2x week, once again overestimating)
    Misc: $ 5,000 / year (I know it might be a lot but better be safe than sorry)

    Total: $37,000 / year

    Leaves you with $32,000 / year of spending money, over $600 a week. You could see 1 SP weekly and live in style!

    I'm jealous
    The difference between a Casino and a church is when you pray in a Casino you actually mean it.

  6. #6
    Veteran of Misadventures
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    You would not be able to live inside Manhattan on $70,000 or, as Sam said, at best you would live like garbage in a small crappy studio apartment for $2,000 a month. I would say pulling in $125,000 is needed for decent living space although it should be noted many people who live in NYC do not have or need cars so most of the disposable income is pumped into housing (which is extremely expensive), utilities and food. Taxes are not part of disposable income because in most cases people have taxes withheld from their paychecks in some amount designed to equal their ultimate tax liability.
    Last edited by EagerBeaver; 09-21-2013 at 12:03 PM.

  7. #7
    Quote Originally Posted by deboner View Post
    Hmmmmm...Let's do some easy math.

    Rent: $10,000 / year (average but nice place)
    Utilities: $ 2,000 / year (overestimating here)
    Car: $ 10,000 / year (assuming you are leasing, this amount includes gas money)
    Food: $ 10,000 / year (assuming you eat out 2x week, once again overestimating)
    Misc: $ 5,000 / year (I know it might be a lot but better be safe than sorry)

    Total: $37,000 / year

    Leaves you with $32,000 / year of spending money, over $600 a week. You could see 1 SP weekly and live in style!

    I'm jealous

    You forgot about taxes in your math. $70k pre-tax is probably $40k take home net of tax. That leaves $3k a year for entertainment.

  8. #8
    and savings?

  9. #9
    Vajatron hit it right on.

    You guys forget about Quebec's highest tax rate in NOrth America.

    70k is not a lot of money. It's decent if you are good at budgeting and not going out much.

  10. #10
    70k is nothing if you leave alone.

    That would leave you close to 900$/week clear.

    Do the math.

  11. #11
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    I did not fail math guys.

    I made the assumption that his deductions at source were already done, hence ~70k clear.

    Even if it is 70,000 gross he's still left with ~ 45k after taxes. He said he was single, no kids, 45k is plenty to live comfortably single.

    My ex-wife was making over 80k and paid little to no tax at the end of the year because her deductions on her income were taken out of her paycheck.
    The difference between a Casino and a church is when you pray in a Casino you actually mean it.

  12. #12
    900$/week net sounds good to me. at 500/week net, I'm living paycheck to paycheck. And if I had no dependent, AND netting 900/week my life would be all gravy all the time

  13. #13
    Not sure why you brag about this.
    Also he better hope that he does get audited.

  14. #14
    Meant not get audited.

  15. #15
    Got it. Not trying to be an ass. Just hope he is not being reckless since if you make that kind of money taxes are generally unavoidable!

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