Big Law to Government - Living Expenses

[Anonymous]

OP here. I realize it's possible to get something for 2100 - but I'm also looking for a building (1) near the metro (2) that allows dogs and (3) has parking. I feel like this trifecta is hard to obtain. I've even given up having a washer dryer

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Thanks PP. Right, DC is a different market than most of the rest of the US. I almost feel like I'm just going to start pretending I live in NYC. I've paid almost all of my 200K loans - tiny bit left at a very low interest rate, and I pay about 250/mo towards them, although they will be gone very soon.

I take home about 6000/mo (not including the two extra months a year when I get three paychecks) - while contributing enough to retirement to get a match but not maxing it out. With those numbers - just curious what you think would be reasonable. Paying $2100 seems to be getting harder and harder in DC.

Advice from someone who can retire at 58 in part because of it --- max out your TSP from Day 1, it is a "must" IMO to get your retirement benefit up to anything approaching where it might have been under the old system w/ CSRS. Not sure how old you are but 25 yrs. of max. TSP contributions and good investment choices resulted in a high six figure TSP account to draw on.

Pay yourself first.

Thanks, good advice - and a pretty good position to be in. The government retirement system is not what it used to be. I wish it was. New employees pays 1000s more a year towards the pension system and often come in with lower starting salaries, even when coming in laterally. I know that nowadays the benefits really don't keep newer employees in the government - most I've talked to want out in a couple years.

[Anonymous]

Anonymous wrote:OP here. I realize it's possible to get something for 2100 - but I'm also looking for a building (1) near the metro (2) that allows dogs and (3) has parking. I feel like this trifecta is hard to obtain. I've even given up having a washer dryer

Why do you need metro and parking?

Anyway, I'm not sure if it allows pets, but there is a building right outside the woodley park metro that is near the metro, has parking, but doesn't have washer dryer but keeps the costs down. It's a rent controlled building. Can't remember the name but if you go to woodley park metro and take the escalator up, it is right there, about eight stories, right on the street with open city diner. Calvert house, I think.

[Anonymous]

Anonymous wrote:OP here. I realize it's possible to get something for 2100 - but I'm also looking for a building (1) near the metro (2) that allows dogs and (3) has parking. I feel like this trifecta is hard to obtain. I've even given up having a washer dryer

Some of the Columbia Heights newer construction might have parking garages and the older buildings may have lots too. But really you probably need to adjust your standards. The rest of us mere mortals do fine with street parking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. I realize it's possible to get something for 2100 - but I'm also looking for a building (1) near the metro (2) that allows dogs and (3) has parking. I feel like this trifecta is hard to obtain. I've even given up having a washer dryer

Why do you need metro and parking? Parking makes it more difficult. Why do you need a car? Sell it and take cabs instead, it's cheaper.

Anyway, I'm not sure if it allows pets, but there is a building right outside the woodley park metro that is near the metro, has parking, but doesn't have washer dryer but keeps the costs down. It's a rent controlled building. Can't remember the name but if you go to woodley park metro and take the escalator up, it is right there, about eight stories, right on the street with open city diner. Calvert house, I think.

Pp. looks like it only allows cats.

The "luxury" buildings have all that you are looking for and tend to allow pets. Like 425 mass and the new ones in u street etc. you can get studios there for less than 2100.

[Anonymous]

Why do you need metro and parking? Parking makes it more difficult. Why do you need a car? Sell it and take cabs instead, it's cheaper.

[Anonymous]

Anonymous wrote:Why do you need metro and parking? Parking makes it more difficult. Why do you need a car? Sell it and take cabs instead, it's cheaper.

Metro for work. Parking because I travel a lot on the weekends, sometimes during the week, and have a lot of people I visit nearby who are not metro or cheap cab accessible. Car is paid for, and the cost for zipcar or something of the like would come close to negating the cost for parking.

I fully admit I have a standards problem, and they could somewhat easily be adjusted. My question has more to do with what an actual reasonable amount to spend on rent is if I get a lot of utility out of where I live.

[Anonymous]

Anonymous wrote:I am also interested in the question of whether or not it is gross or net income when people say "don't spend more than __% of your income on housing." Which one?

This. Any ideas?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am also interested in the question of whether or not it is gross or net income when people say "don't spend more than __% of your income on housing." Which one?

This. Any ideas?

Think it is gross.t

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am also interested in the question of whether or not it is gross or net income when people say "don't spend more than __% of your income on housing." Which one?

This. Any ideas?

Think it is gross.t

It's definitely gross.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am also interested in the question of whether or not it is gross or net income when people say "don't spend more than __% of your income on housing." Which one?

This. Any ideas?

Think it is gross.t

It's definitely gross.

Do people actually come pretty close to that? If I were to merely go off gross I could technically spend up to almost 4K per month. And I don't make that much really....seems high. What would the recommended amount actually be - maybe more like 20-25% or less?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why do you need metro and parking? Parking makes it more difficult. Why do you need a car? Sell it and take cabs instead, it's cheaper.

Metro for work. Parking because I travel a lot on the weekends, sometimes during the week, and have a lot of people I visit nearby who are not metro or cheap cab accessible. Car is paid for, and the cost for zipcar or something of the like would come close to negating the cost for parking.

I fully admit I have a standards problem, and they could somewhat easily be adjusted. My question has more to do with what an actual reasonable amount to spend on rent is if I get a lot of utility out of where I live.

All depends on how much you want to save.

Personally, I would not want to spend all that much money on a car. Parking in apartment buildings tend to cost at least $200. Plus insurance is at least hundred or two a month, right? Plus gas and repairs. You're talking 500 a month.

I hate living in crappy housing so I understand. But it might make more sense to save up for a down payment so you are sinking money into an investment rather than rent. So I'd cap housing and parking costs at 2300 a month and start aggressively saving. Then you can buy a nice place.

[Anonymous]

This looks nice. Parking will add another 250 tho.

http://washingtondc.craigslist.org/doc/apa/4366260446.html

[Anonymous]

Says no pets, though. She has a dog.

[Anonymous]

I think you should move into the one of the luxury buildings that allows pets and parking but rent a studio.