Not true at all. If you cannot survive on 160k even with a family even in SF, you may want to look at your spending habits.
In this case my "spending habits," as you put them, might include expenses like routine hospital or clinical bills, specialist care, or some sort of domestic help. Double all of that if my child is physically as well as mentally disabled, or if my child exhibits some sort of prodigy that I want to nurture properly.
You have to remember that the price of goods and services in this local economy is largely driven by those earning some significant multiple of our hypothetical $160,000.
* Stop working and live on your 160k per month for life
* Deal with kids special needs
* Live in SF
Pick two
Does this really need stated? Do we need a disclaimer at the bottom of EVERY financial story ( * you may need 10-15% more if your kid has special needs)
I read, and contribute to, quite a few financially oriented threads on HN. I don't see this subject brought up all that often, and certainly not as ubiquitously as you suggest.
I understand what you're trying to say within the narrow context of this thread ('hypothetical: earn $160k and never work again'). It's the whole "Must we hear this every time??? UGH!" aspect of your tone that really bugs me. But this subthread is veering far enough off topic as is, so I'll just leave it at that.
- Housing $34k annually
- Car $16k annually
- Food $20k annually
- Stuff $20k annually
- Vacation $10k annually
But yeah, forgot medical.
If you're doing half your discretionary on housing, that's going to be tough. I suggest moving.