a little scared to ask this, but what is your (1) household situation (eg: single or family of four) and (2) estimated total annual expense (including fixed costs like rent/mortgage)?

like
Posting as :
works at
You are currently posting as works at

I really don’t think anything you’re going to get here is going to be meaningful. Even the location where people are located is going to make a big difference. Investment styles. Health. Lifestyles, etc. Way too many factors. I can tell you that I’m a household of two and we just bought our first home, so our expenses for this year as astronomical as we’re furnishing 3000 square feet and undergoing renovations..

What exactly are you trying to gauge?

likesmart

We’ll probably be at upwards of 150k for the year not counting renovations. Household of two. Both of us are mid level attorneys with a gross net income of 430k (without bonuses).

Our expenses generally break down as follows: Around 60k alone between mortgage, property taxes, home insurance, and utilities. Throw in another 12k for travel towards the end of the year. 24k on food, social activities, gifts. Clothing another 10k. 2-3k on beauty expenses such as haircuts, spa visits, nails, etc. Oh and tons of Uber’s (we live in a city and opt not to have a car). And then a boat load of new furniture and other new home necessities.

like

Senior Associate
Manhattan / House in Westchester
Couple + 1 kid
$1.1mm pre tax a year (spouse is also top of the scale senior associate and I get above market bonuses)
$25k a month ($9k mortgage, $4k property taxes, $1k car and the rest is general spending with no childcare expense as MIL is childcare provider)

likeuplifting

Nice. Do you live in Westchester or is that a second home?

DINK, 160k annual

like

Midlevel
Manhattan / 2BR
Couple + dog / partner works
~$275k take home this year
$12k/month expenses / $150k/year (including vacations and taking out engagement/wedding expenses)

like

Married DINK
House in NJ (suburb of NYC)
6k/month expenses (including mortgage/taxes)
+ 5k vacation
= ~80k annual expenses

like

Married. Spouse in grad school, no kids.
Roughly $72K/year in expenses (all in—mortgage, car, food, insurance, etc.)
(Will need to add $12Kish/year once student loan payments start up again. Probably $24K when spouse finishes school.)
Retirement/savings of roughly $32K/year. (Will go down once student loan payments start again.)

(Edited to change to annual $)

like

Married with a toddler. I’m in big law; my husband was smart enough not to go to law school. We live in a mid-sized city.

Total gross comp (not including bonuses, which vary from year to year): $510,000

Total yearly expenses (mortgage, utilities, food, clothing, hobbies, travel, estimate of unforeseen expenses (with my hobby, there’s always something!)): $126,000

We don’t have car notes and our student loans have been paid off, so that helps a lot. We also live in a less expensive area.

We have the rest divided among brokerage accounts, life insurance, and college savings plans.

like

Thank you! It wasn’t always like this. Took us a while to get here!

likesmart

I think the true answer to your question for most biglaw attorneys is just that they spend close to 100% of whatever they make.

A1 - thanks for the insight though im a little confused by the implied source of your assumptions… do you ask your colleagues (upwards and downwards) straight up how much they spend in a year? and do they respond with idk or do they just say that bc they dont want to tell you the actual numbers? but the more data points the better for sure, so thanks!!

What is “DINK”?

__ __ No Kids ?

A1, thanks.

like

I spend < 40k per year. I am unmarried but live with a partner in HCOL city. Partner pays about 30-40% of shared expenses (rent, food, subscription services). I think my spending would be basically the same if I were single and living alone.

Related Posts

South End 1 Room for Rent in a 2bd/1ba brownstone; $1.3 K/mo; May Move-in (or June negotiable); DM if interested!

like

Do you feel like your “wants” drive you to earn more or do you start to enjoy more expensive things because youI have the money now?

like

Hi friends,
Does
UKG (Ultimate Kronos Group) reimburse internet charges?

If so, up to what extent, and is it in addition to CTC?

Kronos Incorporated UKG

like

Which insurer has the largest PPO (most in network) in Chicago?

like

Any amazing Paris restaurant reccos? We like trad French, also crazy experimental. I’m going with former colleagues who no longer have the expense budget we do, so more mid range than high end prices

Anyone have a contact for a trust worthy financial advisor that can help with retirement strategies and how to best allocate money to save for the future ?? 🙏🏽

like

Does United have something similar to SWUs (American)?? Would trade American for United if it’s similar!

like

How soon after closing on a property can you apply for new lines of credit or buy a car without impacting the lending?

like

Fairly new to investing. For folks that have been in the game for quite some time, what sort of information do you look for in determining whether a company is a good investment or not, whether the price point is high or there’s still room to run, etc. If someone said ABC is a good investment, when doing your DD, what do you look for and why? Any links or books/courses you’ve used would also be appreciated.

like

To those who job hop every couple years - do you ever worry about your 401k? I'm considering hopping after 2y at my current employer but I'm realizing that I'll have had 2 hops before 401k vesting now and I'm not sure how that should factor into plans

like

Forgive student loans! It’s that simple.

likefunnysmarthelpfuluplifting

I need to make a quick decision- need to sign the lease today. I make about $5400/month net. I found a 1 bedroom in the city for 1800+200 for parking. All housing expenses considered, I’d be spending 43% of my monthly take home on living expenses. Is this dumb?

like

Guys is Axis or kotak better to open a savings account service wise?

like

What car should I buy? I just got driver's license and have a family of 4 people. I am thinking of a brand new car but don't want to spend more than $25k. Currently on H1b visa so may be in the US only a few years. Any advice is much appreciated!

like

Hi i lost majority of my money in the stock market. I married and promised my family that I will not make the mistake I made 7 years ago. Gambling. Is this an addiction I have. I keep selling stocks and taking loses buying other stock hoping it will recover but never did and sell again taking loses and buy again. It now sink in to me. I borrow personal loan hoping that the market will do k and I pay it back but I even lost that. I can't stop crying that I hurt the one I love the most my family.

like

Anyone that has got AMEX Platinum in Dubai? Could you share your experience?

like

If you were opening a Roth IRA with just 500$ today and planning to contribute each month to the limit - what would you buy

like

For those who still have student debt, do you think debt will be partially written off? The way inflation is going, I don’t think full forgiveness will happen, interested to know everyone’s thoughts…

like

When does the 401k vest at BDO? Right away or after 3 years or something?

like

How much did you save up before buying your first home (condo, co-op, etc.)?

like

More Posts

WFH or Office?

Post Photo
likefunny

I’m pursuing partnership for 2022 but still on the fence as to whether I really want to be a partner. Anyone else felt like this and subsequently make partner? If so, were you glad you stuck it out?

like

How easy/difficult is it to hit your quota as an account strategist?

like

Serious question: I know I am an attorney but this so outside my area. I was rear ended about a year ago and I need to either settle with the insurance company or sue them. Could someone provide some guidance? I really really need some help with this

like

Anyone work for Sanofi? I withdrew an application for a position that I now wish I hadn't. I am trying to re-apply, but found that I am still under the withdraw application section. I can't figure out how to get it moved back so I could be under consideration. Any ideas? I have searched date website and can't find any way to contact anyone about this. @sanofi

Real talk- is joining Biogen as a data scientist a smart move, post adu drama and fresh CEO? Afraid that the company will restructure right after I join…

like

So I say this with complete humility and an understanding that this is a fortunate-ish situation to be in. I’m in a position where I am tied to nothing, I have no children, spouse, or house. My job, which I’ve loved until some recent significant leadership changes, is sucking the life out of me and I think it may be time for a change. Because I am able to “pick up and go” I’m open to opportunities and locations. I’ve never worked with a recruiter but was hoping I could get some recommendations!

like

HYPOTHETICAL: Your divorce client found what is likely very illegal drugs in their spouse’s suitcase (they innocently borrowed the suitcase). There’s no legitimate chain of custody here for an arrest. How would you use this in the custody case? Would you simply have police pick it up from your office and fill out a report (knowing they won’t test the substance for a definitive conclusion)? The type of presumed drug exits the system within 4 days so a court ordered drug test may be useless.

like

My home office is my favorite room in my entire house. I spend a lot of my non-working hours in there too. My husband thinks I’m nuts. 😂 Tell me I’m not the only one.

Post Photo
likefunnyhelpful

How's Manor as a city in terms of buying a single-family home: school-wise, future price appreciation of houses etc ..?

like

Looking for job

8 YOE into Android.

Skills: Java, Kotlin, Android

Thank you.

Chances of H.R. 392 passing?

Ping me if you want to talk guys!

like

Hi,
Can anyone from
Paytm give me an idea about when will they start calling people back to offices?

like

20% utilization gang wya?

likefunny

Don’t enjoy your side business too much. The IRS might consider it a hobby. Work is something you hate.

Post Photo
funnylike

Any Amazon Amazon Web Services current employee want to help out a Inclined-Recycle L6 candidate (Passed Loop 8/5) with contacting hiring managers on my behalf? My recruiting team has had JobIDs for 2 weeks for alternate roles and have not made any progress! Should be pretty easy to find placement, I would think. Thanks in advance!

like

recommendations for yoga class for a beginner?

like

Broke up today cant breathe eat sleep can only cry non stop someone please please help me

like

I have an interview with JP Morgan this week for a Channel Marketing Manager - VP role in the Asset Management area. The role will be based in NYC. Just curious what is the normal range for the base salary and total comp.

like

Additional Posts in Big Law

Is your firm doing anything for Election Day (or the day after, tbh?)

like

Thoughts on a joint trust or two separate trusts with your spouse? Our goal is:

1) asset protection. We’d hope the trust would hold assets such as our house, cars, etc.
2) use it as a vehicle to pass onto our future kids, for whenever we die.

like

First year associates in NY Big Law - how much do you pay for rent (and what’s the set up/location)? I’m a first year myself and feeling guilty about my rent and honestly want to get an idea of what others are doing :)

like

Trying to do as little work as possible before the new billable year starts tomorrow, anyone else?

like

Why am I breaking my back for a job that only takes more? I’m so over it. I’ve worked 24/7 for so long that I can’t remember the last time I felt like me. The minute I make a mistake, that’s what gets noticed. The minute I step out on a Friday night to see a friend, a partner is asking me where something is that wasn’t due. I have a family and a s/o who deserve better than the robot I’ve become. 😭 tell me it gets better. I feel like I’ve ruined my life.

likesmarthelpful

I know of a team member who recently had a death in the family. But Ze is still working as if nth happened 🥺🥺🥺🥺 whyyyyy

like

I’m pursuing partnership for 2022 but still on the fence as to whether I really want to be a partner. Anyone else felt like this and subsequently make partner? If so, were you glad you stuck it out?

like

For people in satellite / non-major offices: what perks does your office offer?

likehelpful

Anyone else having trouble getting started today? The thought of opening a doc and starting to work is almost physically sickening right now

likeuplifting

When an equity partner is retiring, does he receive his equity as a lump sum payment? How does that work? And how much is it usually (in AmLaw100)?

like

Would Littler or Jackson Lewis pay a signing bonus to an attorney with a few years experience? If so, roughly how much? (SoCal office)

like

Worst law firm based on culture, expectations, and partners? I don’t have an opinion but would like to determine the consensus of this bowl.

likefunny