this post was submitted on 30 Jan 2024
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Sign me up if you're paying $300k+
lmao, 60k eur tops. wages in Germany suck ass, earning at least something is possible if you are running independent consulting or climbing corporate ladder, having some unique expertise or going extra mile as an employee is pretty much pointless.
How much of that 60k is left after taxes? Is it enough to live on, or buy a home, or buy a home and support a family, or none of the above?
EDIT: Thanks for the responses everyone, very informative and interesting. That's the kind of perspective that may not often be shared and helps understand costs of living.
For the Deutchlanders wondering about the USA's taxes and my question.... 60k would be enough to live on in most of the USA but might not be enough to buy a home or raise a family. But it's highly dependent on your area's cost of living, and the USA is massive with many different areas and tiers of costs of living.
My example for tax costs: I make more than 60k and I only had to pay about 20% of it to taxes and retirement for 2023, in the USA. In my low cost of living area, 60k would be enough to buy a house and support a family but it would have to be on a very frugal budget. I bought my house when I was making about 45k but my spouse also had an income of almost that much.
60k is about 30-35k after taxes and mandatory insurances, depending on your tax class (Single, Main earner in a marriage, ...). Your questions: Yes if you're not in a particular expensive town., No, unless you've got huge savings or an inheritance. Depends on what you want for your family - you might get by well if you're living in a LCOL area, otherwise... Not so much.