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Have any of you actually raised children in the city? I have 2 incredibly well adjusted teenagers who attended excellent public schools, played music, did stand up comedy, made friends in all 5 boroughs. My oldest is starting college this fall. NYC kids are savvy, fearless, wicked smart and funny. You don’t need $600k to have a beautiful life. Your priorities change. Save for adventurous vacations. Give the gift of adventure. In public school, my daughter went on a field trip to Iceland and Peru. My son went to Spain for a school exchange program. We had a nanny for 8 years. That can be expensive. $30k after taxes. Teach your children to be kind to everyone and expose them to all types of people, no matter their socio-economic status. Urban life is eye opening. Let them enjoy time with extended family, too. Life is not all about money
For 2 people no kids it's $300k+ minimum to live in a one bedroom where you aren't literally stepping over one another. With kids? Shit, school or daycare alone can cost you $100k for two kids, and that's after tax. To be comfortable it's really $600k+. You can live on $400 but it won't be fun. I don't understand why anyone except hedge fund managers live in New York after they have kids.
You will discover as you have kids that the city, no matter what you make, is not a good place to raise kids. Kids want to play with little friends and run around their backyard. If you have the means to provide those things that’s what’s best for them. I used to think differently, but now I know. And I can’t believe you would consider dumping someone because they don’t make enough money so you can live some ritzy Park Avenue lifestyle.
Yea sorry 250k is bare minimum and double that with a kid living in the city and not the burbs
at least $400k combined
rent/mortgage, daycare, entertainment, some investment, vacation, ...
500k+ for a decent lifestyle.
200 mil
500k with children in the city, 300 k for outside the city lines
Uws? Move to Scarsdale and you’ll do fine on less and it will be much better for your kids
$2k per kid
Daycare is the least of it. Try private school
Consider living in another borough
K1 that was a joke, loosen up.
I hear you. Makes sense.
From MN and for in home daycare vs facility is 130 per week age 2 and up. 180 under 2. You can get 1 to 2 weeks vacation. Theirs not yours so that is minimum 6500 per year. New York would be much higher
250+
Following
How much do you think expense would be for daycare?
Oh my god I didn’t know daycare expenses could be ~25k annually
Are daycare expenses tax deductible ?
Okay now I need to find a new partner who makes 250k to fit in the city than. Thanks everyone this was an eye opener for me.