Quick Answer: Can I Live Comfortably Making 40k A Year?

What are jobs that pay $30 an hour?

30 Jobs That Pay $30 An HourAnthropologist.School psychologist.Medical technologist.Financial services representative.Technical writer.Executive assistant.Registered nurse.Branch store manager.More items…•.

How much house can I afford at 40000 a year?

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)

Can you live in LA on 40000 a year?

As others have said, you can live in LA on 40k a year. Plenty of people do. It will definitely help if you move to the right area and get some friendly roommates.

Is 38000 a year a good salary?

The annual median salary for a high school graduate is $35,000, so $38,000 is a decent salary for someone without a college degree. … The annual median salary for a high school graduate is $35,000, so $38,000 is a decent salary for someone without a college degree.

How much do I need to make to afford a 250k house?

How much do you need to make to be able to afford a house that costs $250,000? To afford a house that costs $250,000 with a down payment of $50,000, you’d need to earn $43,430 per year before tax. The monthly mortgage payment would be $1,013.

What is a good salary in LA?

The website Gobankingrates.com jumped in and did the math for us in their piece, “How Much Money You Need to Live Comfortably in the 50 Biggest Cities”. They calculated an annual income of $74,371 was about right for the average person to live comfortably in Los Angeles.

What is a liveable wage in Los Angeles?

An Economic Policy Institute study released in March found that a single, childless person living in Los Angeles has to make $34,324 a year just to live in decent conditions (and that was using data from 2013). A household with one parent and one kid would need to be bringing in $60,600, and it just goes up from there.

What is a good net worth by age?

Average net worth by ageAge of head of familyMedian net worthAverage net worthLess than 35$11,100$76,20035-44$59,800$288,70045-54$124,200$727,50055-64$187,300$1,167,4002 more rows•Mar 27, 2020

Is $40000 a year good money?

$40k is a good salary for a single individual. Consider if you and a partner were living together and both making that salary, you’d be making 36% more than the U.S. average household income. This makes me incredibly happy.

What mortgage can I afford on 60k?

The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That’s a $120,000 to $150,000 mortgage at $60,000.

How much money do I need to make to live in LA?

Using the 50-30-20 rule for personal budgeting (50 percent of income toward necessary costs like housing and food, 30 percent for “discretionary spending” like entertainment and going out, 20 percent for savings), an Angeleno needs to make $74,371 a year to live “comfortably” in Los Angeles, a study by finance site …

What is $60 000 a year hourly?

Assuming 40 hours a week, that equals 2,080 hours in a year. Your annual salary of $60,000 would end up being about $28.85 per hour.