Will I have a good living in USA with this income?

[KRIS10]

Originally Posted by nickswe

Thank you for all the replies!
Are there any "hidden" taxes or other expenses that I need to be aware of,

YES! They are called "car mods". Beware these hidden expenses get you when you least expect it. I'm from Texas and here's what my garage looks like. And I get 13 weeks a year of vacation. Oh yea but I'm a teacher.


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[Texas_RS]

70k is more than enough to live comfortably. Especially here in Texas. Your money goes a long way here.

[DesertCamaro]

Originally Posted by christianmotox

Come on men, I have a family of 4 and we live off 30k a year.

I think you'll do good.

You live in San Diego at 30K a year? Hat's off to you

[Russo]

Originally Posted by nickswe

Thank you for all the replies!

Are there any "hidden" taxes or other expenses that I need to be aware of, or is it only the federal income tax that applies when living in Texas?

Texas doesn't have an income tax, and their great economy is a result of it.. you will be required to pay off the Feds with a portion your income though..

[wheelio]

lol why are y'all telling this guy he can buy a house and zl1 off 70k a year? Since its in Garland always have something on you for protection (ex:knife)

[wheelio]

let me clarify: it's possible but not logical.

[SUX2BU]

Originally Posted by wheelio

lol why are y'all telling this guy he can buy a house and zl1 off 70k a year? Since its in Garland always have something on you for protection (ex:knife)

It's called managing your $$$. Some people can do it, some can't.

[wheelio]

Manage it for us all then. Shouldn't take more than 5min for you 2 do. Zl1, insurance,food,pleasure....etc. I say it can't be done

[SUX2BU]

Originally Posted by wheelio

Manage it for us all then. Shouldn't take more than 5min for you 2 do. Zl1, insurance,food,pleasure....etc. I say it can't be done

Originally Posted by wheelio

Manage it for us all then. Shouldn't take more than 5min for you 2 do. Zl1, insurance,food,pleasure....etc. I say it can't be done

Obviously these numbers can vary person to person and since I don't know this guy's specifics so I'll use my own on some but as far as taxes, let's guess worst case scenario and he is single. So, 70k should break down to about just under $5k a month. Let's say $4,750 just to be safe.
$1,000 savings/retirement
$1,200 ZL1/insurance/lots of gas
$1,500 Decent small house/insurance/utilities
$300 food
$250 entertainment
$500 miscellaneous

[dixonk]

That money will be fine in TX. Here in Cali probably not so much. One thing to keep in mind is that you are coming to the States with a fresh credit report. IE you are non existent as far as established credit. If you want a ZL1 you will be paying in cash or someone you know here will have to cosign with you. Same thing with your house. You will need to rent and work on establishing your credit for a couple of years before a lender will loan you money for a 60k car or a house.

[SUX2BU]

Originally Posted by Jordan23

People still want to move to the USA?

To Texas, yes.

[MEDISIN]

Originally Posted by SUX2BU

Obviously these numbers can vary person to person and since I don't know this guy's specifics so I'll use my own on some but as far as taxes, let's guess worst case scenario and he is single. So, 70k should break down to about just under $5k a month. Let's say $4,750 just to be safe.
$1,000 savings/retirement
$1,200 ZL1/insurance/lots of gas
$1,500 Decent small house/insurance/utilities
$300 food
$250 entertainment
$500 miscellaneous

70k and single puts you in a 25% tax bracket no? Would be closer to 4k a month take home. And only $10 a day for food? Where does cell phone and internet fit in? Not saying it can't be done but I would never advise anyone to purchase a car worth nearly 1X his annual salary.

[MEDISIN]

Originally Posted by trm2

Um, I get six weeks a year. :ducks:

You have too much free time

Originally Posted by Ryanbabz71

+1
I get 4 but usually roll 1-2 over each year
Ryan

You have too much free time

Originally Posted by whemming

I get 0 weeks 0 days 0 hours vacation. Life of a contractor

I hear you brother. My parents ran 3 restaurants at one time (or restaurants ran them) and it was a 0, 0, 0 situation as well.

Originally Posted by Steve Dallas

I currently have 52 weeks of vacation a year!!!

You enjoy that retirement Sir!