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re: $130k : 25 min commute or $150k : 50 min commute?
Posted on 9/22/20 at 1:51 am to theGarnetWay
Posted on 9/22/20 at 1:51 am to theGarnetWay
(no message)
This post was edited on 12/13/20 at 1:48 am
0
Posted on 9/22/20 at 3:50 am to theGarnetWay
quote:
I do a similar commute. Would I like it to be shorter? Sure. Would I take $20k less to have it? Absolutely not.
You aren't coming out ahead 20K in this scenario though
You have to factor in the taxes on that additional 20K, factor in the additional commuting cost and the additional commuting time.
On his schedule you'd be looking at roughly 450 one way commutes a year and we can probably assume they're each about 20 miles. That's an additional 9K a year in mileage on the vehicle. Depending on the price of gas and fuel economy that's probably around 1000 more a year in gas alone, not considering the accelerated depreciation of his commuting vehicle.
You'll come out ahead financially with the 20K bump but it won't be 20K ahead and might not be worth the extra time spent in the car IMO
Posted on 9/22/20 at 4:16 am to Tbonepatron
Depends on the drive. Is it 50 minutes in traffic or 50 minutes on back roads?
Posted on 9/22/20 at 4:47 am to Ross
quote:
$130k all day; frick spending almost two hours of my day every day on the road
Unless your kids are horrible and your wife's a beotch....then maybe you want that extra time alone!
Posted on 9/22/20 at 4:55 am to TDcline
quote:
Lol I work my arse off and barely make 55k.
I need to find a new line of work.
Online world baw.
Plenty of opportunities
Posted on 9/22/20 at 4:58 am to Powerman
1. How much are you making now and what's your current commute time?
2. Are you motivated to move up the ladder? if so, which company, job will give you the best opportunity to do that?
3. Does your wife work? If so then that will have a factor in how you will be taxed on that extra 20k and whether it's worth it or not.
4. If you're smart, you can probably save the extra 20k (will be less bc taxes, travel, wear and tear etc.) and enjoy the extra time with kids.
(I don't think the extra 20k is worth it bc of taxes, travel, wear and tear, etc. unless you see more potential to move up or move up at a future company. I think you can save the "true difference in salary".)
2. Are you motivated to move up the ladder? if so, which company, job will give you the best opportunity to do that?
3. Does your wife work? If so then that will have a factor in how you will be taxed on that extra 20k and whether it's worth it or not.
4. If you're smart, you can probably save the extra 20k (will be less bc taxes, travel, wear and tear etc.) and enjoy the extra time with kids.
(I don't think the extra 20k is worth it bc of taxes, travel, wear and tear, etc. unless you see more potential to move up or move up at a future company. I think you can save the "true difference in salary".)
This post was edited on 9/22/20 at 5:13 am
Posted on 9/22/20 at 5:23 am to boomtown143
I am assuming that both jobs have similar career arcs.
You are talking conservatively $15,000 after taxes.
40 extra miles a day on a 9:80 schedule and a fairly low 25 cents per mile is $2250 for the year @ 50 weeks. So we are down to $12750.
$1,000 a month is real money but so is 15 extra hours of free time.
They say nobody says they wished they had spent more time in the office when they die.
While not in the hypothetical $1,000 a month goes a long way to buying something closer, but your wife might be going the opposite direction.
It depends on how much you value free time. I know people that would just spend it in the office because they don't know how to occupy the free time they have.
You are talking conservatively $15,000 after taxes.
40 extra miles a day on a 9:80 schedule and a fairly low 25 cents per mile is $2250 for the year @ 50 weeks. So we are down to $12750.
$1,000 a month is real money but so is 15 extra hours of free time.
They say nobody says they wished they had spent more time in the office when they die.
While not in the hypothetical $1,000 a month goes a long way to buying something closer, but your wife might be going the opposite direction.
It depends on how much you value free time. I know people that would just spend it in the office because they don't know how to occupy the free time they have.
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