$60,000 to live comfortably

[slowsynapse]

I think these studies come out every year, but on the news in Portland, OR this morning all of the tv stations were reporting that you need $60,000 per year to "live comfortably" in the city.  At least they put an amount of savings in the calculation so I give the authors credit for that.  I would love the mustachian perspective on this calculation.  Admittedly, my housing is cheaper than most, but I have never needed as much as they are saying.  Also, I have no kids so what is a fair amount to add to the expenses for those with little mustachitos?

http://koin.com/2016/04/20/report-it-costs-60000-to-live-comfortably-in-portland/

[mcj]

Just saw the same report for my city.

It was way beyond what I would consider comfortable for a couple, but it didn't specify/account for family size. A childless couple could live luxuriously on the suggested amount if they were smart about it.

[FIPurpose]

I do not think this is outrageous for someone living in Portland. A single person working in Portland for $60k:

~$15,000 in taxes
~$15,000 in rent
~$6,000 in savings
~$3,600 in food

$20k left for heath insurance, medical expenses, transportation, etc. This is all assuming that $60k is for a single person. There's a little more than necessary in this number but not much.

[Northwestie]

I do not think this is outrageous for someone living in Portland. A single person working in Portland for $60k:

~$15,000 in taxes
~$15,000 in rent
~$6,000 in savings
~$3,600 in food

$20k left for heath insurance, medical expenses, transportation, etc. This is all assuming that $60k is for a single person. There's a little more than necessary in this number but not much.

Agreed

[tarheeldan]

For a single person 1250/mo rent, 300 food ...25% taxes (where's the 401k and IRA) 20k?! for everything else? This is MMM forums still right?

[FIPurpose]

For a single person 1250/mo rent, 300 food ...25% taxes (where's the 401k and IRA) 20k?! for everything else? This is MMM forums still right?

Yes it's Oregon so your not going to avoid taxes:

~13% federal
~7.5% FICA
~7-8% Oregon

I assumed this meant downtown living which is currently booming. Can you find a room for $800 maybe, but I havent even heard of people splitting rents getting much less than 1200