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Quick qstn - I'm receiving HRA of 24075 from my employer but I would like dhow the rent paid as 96k p.a (while filing ITR). Even if I do so, I was only able to get exemption of 24075 from gross. Checking if we can speak to payroll department to increase Actual HRA since I'm actually paying more rent than compared. Will I be able to do so ?Deloitte Newco EY Accenture Genpact KPMG
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SA3A in tier 2 city comp?
Uh yes. Only way you wouldn't is it you're living above your means but very comfortable living in a 1b1b (depending on location ofc), going out to eat, subscriptions, etc.
Source: grew up in the Bay Area, sister lives there as well on <140k
Yes it is definitely possible to find a studio for $2k. In most popular neighborhoods in SF (marina, nob hill, etc) there will be several on Zillow for $2k
Me: Grew up in the bay, went to school in SF, still have lots of friends who live there
Your habits definitely impact affordability but I would also take into consideration your other expenses and goals. Do you have student loans? Car payment? Other debt? Are you someone who likes to save or contribute aggressively to your 401k? All these things will impact how you live in the bay. You can find apartments that fit your budget but you may need to adjust expectations, live a bit further away, and just be patient with the search.
Lived in San Fran for a few years.
Agree with others here that the devil is in the details around how you define “comfortably.” $140K for a single person in (most of) the Bay Area is a comfortable middle class salary - not upper middle class, and certainly not affluent. You will be able to enjoy the city, live in a decent apartment, and won’t have to live like a pauper, but nor will you be able to comfortably afford a top end apartment, frequently dine out at nice restaurants, a luxury car, multiple vacations a year in nicer resorts, etc. - at least if you plan on maxing out your 401(k) and setting aside a decent savings fund. And forget about buying a house.
How are we supposed to know what is comfortable for you 🤓
Depends on what you think is comfortable. Also, do you have student / other loans ?
I’m living in SF now. If you have no student loans or anything like that you will be able to live comfortably in a one bed ~$2.7-3.2k/month but you won’t be able to save very much money
If you have no loans or other financial burdens and are spending ~3k on rent but unable to save money, that's a prioritization issue / comfortable probably means something different...
No, not comfortably. You can live in your own place but it will have to be modest. You won’t necessarily be scraping by but it won’t be what most people think of as “comfortable”
D1, it’s definitely not. KPMG1 is likely just vastly overestimating what “most people” consider comfortable, or who “most people” are…