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What Annual Salary Provides a Comfortable Living for Family of Four?

 
ALW
 ALW
(@ALW)
Active Member

Speaking of STT here. Parents plus two young kids (preschool age). "Comfortable" means a 3 bed/2 bath house rental in nice area (up to $2500/month), private schools. Those are the two main luxuries - housing and school. Island cars, assuming average power/water costs, eating at home, typical entertainment costs for other expenses. Is $150K/yr enough to live comfortably on STT? I figure $4500-5K/month for housing and school. That leaves about half of our income left for utilities, spending and saving. I know many live on a fraction of that amount, but I also know the cost of living a family life on STT is exorbitant.

We have the option to live where we want for a year or two (or maybe longer - husband can work anywhere as long as there is a good internet connection), considering our options. STT and St. John both on table.

Thanks!

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Topic starter Posted : August 29, 2012 5:56 pm
speee1dy
(@speee1dy)
Expert

private school is about 10-15 thousand a year per child, but it seems like that should be enough.

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Posted : August 29, 2012 6:13 pm
Alana33
(@alana33)
Expert

You can definately live quite comfotably on that amount even with children.
Just don't have an A/C on in every room at the time or you'll be sharing your income with WAPA!

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Posted : August 29, 2012 6:16 pm
OldTart
(@the-oldtart)
Expert

"Good internet connection" might be the kicker. There remains a vast gap between what we consider "good" and what's available stateside!

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Posted : August 29, 2012 6:20 pm
ALW
 ALW
(@ALW)
Active Member

Yes, I've wondered about the available internet connection speed. Is it pretty slow? Or just spotty? Or both?

Know all about your good friend WAPA and the dangers of A/C. I'm from Georgia, so I'm used to heat and humidity. But also A/C. Hmmph.

Thanks for the input.

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Topic starter Posted : August 29, 2012 6:33 pm
trainwreck82
(@trainwreck82)
Advanced Member

If the internet connection is crucial and you can afford it, go for a dual WAN router and get connections to Innovative and BroadbandVI. On top of that, I would have a tethering plan on your phone. Satellite is also a good option for reliability.

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Posted : August 29, 2012 7:58 pm
Exit Zero
(@exit-zero)
Trusted Member Registered

$150K a year -- mighty comfortable.

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Posted : August 30, 2012 12:35 am
blu4u
(@blu4u)
Trusted Member

is the 150k pre or post taxes? are you saving for retirement and kids college? (hint save for college, a good college runs 40k+ per year now) How will you be paying for health insurance? 150k pre-tax, pre-saving, pre-health insurace will be tough with two kids in private school. You'll get more bang for your buck on STX house wise. Not to sure about the status of the private schools there now. Good private schools on STT. You want to really check out rental homes carefully. Where the house is located what direction it faces, the structure have alot to do with how much electric you'll use. The roof type and cistren will dictate how much water you purchase. Ask about a genarator and what it powers. Power goes down all the time. Sometimes for a few minutes sometimes for a few days. Ask to see former tennats bills. Neighborhood vary. Really scope out the hood and ask about the neighbors.

with 12000 @ month you should be ok for a year or two. Call it adventure. Take short trips to BVI and PR and vieques and culerbra and down island. Maybe get the kids involved in sailing or water sports--stuff they wouldn't do stateside. Rent with an extra bedroom and invite family for holidays. I think a pool is must-have, especially with kids. A year will go by fast--enjoy!

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Posted : August 30, 2012 1:42 am
OldTart
(@the-oldtart)
Expert

If the internet connection is crucial and you can afford it, go for a dual WAN router and get connections to Innovative and BroadbandVI. On top of that, I would have a tethering plan on your phone. Satellite is also a good option for reliability.

Indeed, it's jerry rigging where internet service is concerned. If your income is dependent upon constant and reliable speed, best you thoroughly investigate what's available and at what price.

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Posted : August 30, 2012 2:15 am
donefarming
(@donefarming)
Advanced Member

ALW sent you a pm

Enjoy your new adventure!

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Posted : August 30, 2012 2:44 am
ALW
 ALW
(@ALW)
Active Member

Thanks everyone. Internet connection is absolutely, 100% required. In fact, it's so necessary to our livelihood it may break the deal. This move wouldn't happen for about 18 months - 2 years (got some things to do stateside first), so who knows where we'll be at that time. I guess I'll keep asking and paying attention to developments in that area.

The question sounds silly as $150K sounds like a ton of money. But, once you factor two kids in private schools the money starts rapidly dwindling. It takes a huge bite! But they're worth it, I think. :S

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Topic starter Posted : August 30, 2012 2:25 pm
blu4u
(@blu4u)
Trusted Member

The question sounds silly as $150K sounds like a ton of money. But, once you factor two kids in private schools the money starts rapidly dwindling. It takes a huge bite! But they're worth it, I think. :S

Yes! Totally "worth ti"! Cherish the momments. It all passes so quickly.

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Posted : August 30, 2012 4:20 pm
Linda J
(@Linda_J)
Expert

To many, if not most, people relocating to the USVI, private school is a necessity. Others will say not so. It is best to come down and check it out for yourself. Make your visit dduring a time of the year that school is in session, so you can see the school in action. And yes, it is possible to spend $30,000 on tuition.

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Posted : August 30, 2012 7:10 pm
blu4u
(@blu4u)
Trusted Member

Unless you quailfy for head start or live in a distric which publically funds pre-school, then you pay for pre-school. Free-public pre-school is not that common. Pre-school (a real program with qualified teachers and circulum -- not just daycare/babysitting) is well worth the money. So the OP will most likely pay for pre-school/pre-k stateside as well. When your kids are in pre-school is great time to live in VI. High school can be good and bad depending on the kid's interests/motivation and family's circumstance. Some kids (and moms and dads) find it limiting, some soak-up the small town (takes a vilage) support.

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Posted : August 30, 2012 7:23 pm
ALW
 ALW
(@ALW)
Active Member

$30K on tuition per kid/per year? Holy smokes.

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Topic starter Posted : August 30, 2012 9:15 pm
Linda J
(@Linda_J)
Expert

No, sorry I was not clear. I was guestimating for BOTH kids.

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Posted : August 30, 2012 9:34 pm
tedc
 tedc
(@tedc)
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Vermil
(@Vermil)
Advanced Member

This is interesting. I apologize for hijacking your message but I am also interested. I am moving to STX in October and I make roughly 70k a year. I am single no child support/ no alimony. I keep hearing that food is what will hurt the most. Is it really so bad? I would love to be situated comfortably and be able to enjoy my time on the island,

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Posted : September 2, 2012 11:30 am
Linda J
(@Linda_J)
Expert

$70,000 for a single person is very comfortable. Assuming drinking and drugging are not hobbies, you will do fine.

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Posted : September 2, 2012 12:00 pm
Jamison
(@Jamison)
Trusted Member

This is interesting. I apologize for hijacking your message but I am also interested. I am moving to STX in October and I make roughly 70k a year. I am single no child support/ no alimony. I keep hearing that food is what will hurt the most. Is it really so bad? I would love to be situated comfortably and be able to enjoy my time on the island,

It depends on where you're coming from. If you're use to it being cheap to live, it'll be expensive. Just learn to adjust to your surroundings. 70K is a ton of money to enjoy easy living here.

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Posted : September 2, 2012 12:07 pm
cdsp
 cdsp
(@cdsp)
Advanced Member

Good morning,
I live on STX and I find my daily expences FAR less than they were in upstate NY. Your food expenses will vary SO much depending on what you like and how you eat. I am a vegitarian (almost vegan) and live almost exclusively off roadside stands. About once a month I make a Plaza run for coffee and other staples (Rice / Pasta)
(I own my home here and installed solar 3years ago- so I do not have a huge WAPA bill)

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Posted : September 4, 2012 4:07 pm
Tmathews
(@Tmathews)
Active Member

Good morning,
I live on STX and I find my daily expences FAR less than they were in upstate NY. Your food expenses will vary SO much depending on what you like and how you eat. I am a vegitarian (almost vegan) and live almost exclusively off roadside stands. About once a month I make a Plaza run for coffee and other staples (Rice / Pasta)
(I own my home here and installed solar 3years ago- so I do not have a huge WAPA bill)

What did the Solar system cost you?

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Posted : September 4, 2012 6:40 pm
cdsp
 cdsp
(@cdsp)
Advanced Member

Hi
3 years ago for a 4 bed 3 bath house the elec system and h20 heater cost about $ 28,000 and I just (this year! LOL!) got about 8,000$
back - and I have net metering and have not paid a WAPA bill AT ALL!!! 🙂 for elec
next project I am saving for is the cistern to get off WAPA h20

If you have questions about solar contractor please PM me
Thanks!

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Posted : September 4, 2012 7:02 pm
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