Hey guys,
I currently live in Hawaii (military) and I'm getting out of the service soon and moving back to California. (We have lived there before in the Camarillo/Ventura area.) Right now me and my wife are saving 50-60% of our net income and would like to keep that percentage at a minimum. The reason we are able to do this is because our housing/util are free in the military. So NET income right now is $4800/mo between the both of us. With our credentials and experience I see no problem for us to make $75-85k EACH when we move back to California, provided we are able to work in the city (Los Angeles/San Diego or something of that nature.) We both love Southern California and don't really want to move north, plus I have the surfer beachy lifestyle.
So I guess the question is: If I have to work in the city to receive high wages, where can we rent or buy to keep our mustachian lifestyle of saving minimum 50% of our net income, probably closer to 60%? We would probably be netting ~$10k/mo. I know this sounds like an easy answer but I was reading one of the polls and most of us only pay <20% of our net incomes to rent which for us would mean $2k/month. $2k/mo for housing in California near a large city that provides decent wages and ample job opportunity?! (Before most of you yell at me, we have a toddler and my wife refuses to live in a high rise apartment because of this, so single family home is what would keep her happy). It seems impossible to find a decent 2bd home for $2k that isn't in like.. Compton or something. Does being in California justify sending a higher amount than 20% net income on rent?
Any advice would be appreciated. Thank you. And sorry I'm not a very good writer (hence why I haven't started a very successful blog business hehe).