Is it possible to survive in U.S. with $65.000 salary ?

Question

As I`ve noticed from yearly statistics, the average salary in my profession seems to be $65k per year in U.S. (I`m currently in Europe and have a B1-Visa, though my wife and kids don`t have VISA).

The question is whether it`s possible to live a normal life with a family of 5, where wife isn`t and wouldn`t be working - thus it would be the only income. With 2-3 more yrs of experience, I could jump to around $75k, which I know is enough to survive from month to month.
Of course, I`m not talking about living in those more expensive places like SanFran, NYC or Bay area - there are many cheaper places in U.S. where costs of living are significantly lower, while salaries are just 10% lower (compared to national average in given field).

How much would I actually get from that $65k salary to my bank account after all taxes ? Range is enough. I`d guess around $3100 ?

What about medical insurance ? How much does that usually cost each month

OK, thanks for first replies, though I absolutely don`t understand how some people are saying that it`s possible even with an income of $35000. I mean, just a basic food, gasoline, and medical pills (that my wife has prescriptions for) cost around $1000 each month here - I believe it would be more expensive in U.S.. And there`s no clothes yet, no going out or whatever else. Just food and shelter.

AFAIK, you can`t find any house with at least 3 rooms for less than $1200 anywhere in U.S. Wth a salary of 35k, you`d be earning probably around $1800 each month (+- few hundreds).

So, it would seem to me that a salary of $35k would give a family just a bread and butter - literally. I wouldn`t call that something good.

Any ideas ?

Brent: This must be the reason, why Texas was picked, among other states, where one should apply for jobs.

With ~$4000 I wouldn`t worry about month-to-month survival so much anymore.

Still, a mortgage for $350k costs around $2000, right ? Not sure about Texas property prices right now, what $350k gets you.

Wayne: I know what you mean, but there is simply some level beyond which you can`t go - since you must eat every day and you must buy the various medical pills, and that`s $1k each month - there`s no way around it, even though we`re always buying the cheapest types of groceries. If we chose more quality brands, that would be easily $1300.
Now add to that mortgage of at least $1500, some property tax of $200, some family medical insurance for $200 and you need at least $2900 each month. And that`s without any energy bills, clothes, car loan (though, cars are cheap in US) and vacations.
How could that possible with a salary of $35k is beyond me...

bostonianinmo: Missouri is the cheapest place (in U.S.) to live then ? Unfortunately, I`d probably have a hard time finding a position as senior games programmer there. Though the salaries would be adjusted for this for sure.

SanFran is 200% more expensive to live at ? I knew it`s in top 3, but 200% over national average ? Nothing for me.
On the plus side, it has exremely high risk of earthquake in coming decades :-)



Julie_CG : Thank you very much for the numbers. Actually, some of the senior positions in my field advertised 401k and Family plan, so that would be surely a huge win, if I saved $0.3k each month.

As for the middle-class - that`s understandable. You can`t get rich by working on others.

And we have credit cards here in Europe too (I have three ;-) )

Answer 1

At $65,000, your take home pay would be approximately $48,000-52,000 assuming you claim 5 dependants and an average state tax of 5-6%. (Roughly payroll taxes would be 7.65% FICA (Social Security and Medicare or approx. $5,000), Federal Withholding approx. $6,000 and State Withholding approx $3,000).

On this, you could comfortable afford about a $225-275,000 house with a monthly mortgage around $1,200-1,800/mo for 30 years. This is feasible in smaller cities or rural areas and would be a comfortable house for your family. In the bigger cities, you could not survive on this.

For health insurance, most companines that have group plans will pay anywhere from 50-100% of the cost of health insurance for the employee only. Usually, the employee would have to pick-up the cost of the family (wife and kids). [If you find a company that pays 100% for entire family plan that is a HUGE benefit]. Health insurance rates are based on size of the company group plan/claims and employee age. The older you are the more it costs. I would estimate health insurance would cost you anywhere from $300+ for coverage on your family. Again, the more in the group the cheaper the rates so bigger companies tend to have better rates. Be sure this is a fringe benefit with your employer as in the US it is the employer's decision to offer this.

Bottom-line is that if you live in an area where the cost-of-living is reasonable, you will become just like the rest of us.....average middle-class........living fairly comfortable if you are reasonable with your money, but wishing you made a little more......and wishing the tax man would give you a break!

Just beware of credit card debt.......it can buy nice things but sink your ship fast!

Answer 2

That really depends upon where you live in the US. Cost of living varies widely.

For example, Joplin, MO just topped the list as the most affordable city in the US at a bit under 82% of the national average. I can speak from personal experience when I say that you can live VERY nicely on $65k here! (I supported a household of 8 with about that much money. Much better now that I'm back on my own now but it is very do-able.)

On the other hand, places such as NYC or San Francisco, supporting a family of 5 on $65k would be a serious challenge. The cost of living in either one of those cities is more than 200% of the national average.

Answer 3

$65K is considerably more than the average household income - so yes, it's enough to live a decent life. You won't be among the wealthy, but should do just fine as long as you aren't in one of the super-expensive areas.

You'd probably net over $4000 a month after taxes, which should be enough to live quite comfortably.

Most professional jobs provide subsidized family health insurance. You'd pay something toward it, and the amount would depend on the company, but it typically wouldn't be more than $200 a month, maybe much less.

Answer 4

It is possible for a family to live comfortably on $65,000 a year in some parts of the United States. In isolated areas like San Francisco or New York City, it would be difficult.

You could expect close to $45,000 net after taxes and health insurance.

Health insurance is often subsidized by the employer. The employer may pay for your insurance and then you pay for the family. Perhaps $300 a month or so depending on the plan.

Ask your prospective employer lots of questions about the cost of living where you are thinking of moving. Ask realtors about houses and their costs.

Answer 5

It really does depend on your community. What I make in the Northern Virginia area isn't easy to live on, but I would be doing very well if I was making that much back home. But of course, I would not be making that amount there because my salary is adjusted for cost of living. So I would say 65,000 would be difficult to live a comfortable life with a family of 5 on in DC. But I grew up in a family of 3 making between 35,000-40,000 and although I didn't have fancy things I lived a very nice life and was not wanting for anything I really needed.

My insurance has ranged quite a bit between working for a small company (very expensive) and a very large one (small enough payment I don't even really think about it). If you will be providing insurance for all of you that will bump up that cost quite a bit, though.

All in all, I'd say you can definitely survive on that much no matter where you are. But the quality of your life could very quite a bit.

Answer 6

It really depends on where you live. For instance, in TX or TN, they have no state income tax. What you take home would be more than in other states because you'd only be contending with federal, SS, and medicare taxes. I believe with exactly 65k, you'd be bringing home about 47k in a state without state income tax. Since I don't live in a state with state income tax and also the tax varies from state to state, I cannot estimate otherwise. But that's damn near $4000/month. Note though, I wasn't including property tax, but that varies from school district to school district. Just choose where you live within an area wisely.

Answer 7

yeah u can make it on 65k a year some people make it on far less than that. and insurance depemds on the company and the insurance company for a family of 5 couple be a couple hundred dollars a month or more dependin on the company

Answer 8

We moved 10 situations with the militia over 20 yrs. and not in any respect won a pay develop related with the flow. making use of an analogous pay, we had to comply with the residing situations at our new region. between the stairs we tried to do grow to be decrease down on the quantity of debt earlier we moved. That wasn't consistently achievable as each so often we moved each 365 days. you're making greater, you spend greater. $sixty 5,000 is an particularly good residing, on an analogous time as one earnings for a kinfolk. confident there are particular extreme value of residing components it would be stressful, yet for the main area, that earnings will do you properly in maximum of U.S. good success.

Answer 9

If you are lucky the company you would work for would help with the cost of health insurance, or else forget it, you would have to live almost paycheck to paycheck unless you plan on leading a life with no extras...eating out, movies, shopping, any type of extra entertainment

Answer 10

In Las Vegas, i know a family that has 3 kids, 5 dogs, and a decent house that runs on about 40k a year