All Forum Posts by: Myeasha Jones

Quote from @Dave Skow:

@Myeasha Jones- thanks for the follow up ....$4100 for  rent and chaild care on tax home of  alittle of  6K  doesnt  provide much residual income per month ...if you make it work - great and  good luck

 nobody in the right mind would rent for $4k when rental is only $2k 10 miles apart 

good luck on this! sounds like you are piecing it together. One thing to think about is 100K-140K jobs tend to attract other 100K-140K jobs, many with more workable locations. Kids still young so it might not be a bad time to make the leap, deal with the commute and jump as you need to. 

gotta be your own independent contractor, even with W2s. 

Bravo you!

Quote from @Myeasha Jones:

Quote from @Jay Thomas:

When looking at the total compensation package, it's important to factor in other costs that may arise from taking the job. Such as, living closer to Palo Alto can be expensive as real estate prices in the area tend to be high. This could offset some of the benefit of a higher salary or equity stake. Furthermore, if you require full-time childcare then this must also be taken into account when evaluating your offer. All these additional costs should be factored into your decision-making process.

Thanks Jay.  

chat GP answer LOL

@Myeasha Jones-  based on the  facts and figures  you provide - this  would be a huge  issue  and likely  a major problem  for you to  survive ...assuming gross  income of  $8300 / month ..this  would translate to  approx $6500 take home  ...assuming  rent and childcare is  7K  - you are underwater  immediately  every month 

If you find it's cheaper to buy (or want to find out), check out the Neighborhood Assistance Corporation of America (NACA).

NACA was formed in 1988 and provides an affordable option for potential first-time buyers:

✅ No down payment

✅ No closing costs or fees

✅ No mortgage insurance

✅ No consideration of credit score

✅ Below market fixed interest rate

There are several requirements to be eligible for the program, starting with attending one of their workshops.

https://www.naca.com/

I wish you all the best.

When looking at the total compensation package, it's important to factor in other costs that may arise from taking the job. Such as, living closer to Palo Alto can be expensive as real estate prices in the area tend to be high. This could offset some of the benefit of a higher salary or equity stake. Furthermore, if you require full-time childcare then this must also be taken into account when evaluating your offer. All these additional costs should be factored into your decision-making process.

Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area. 

You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

I lived in Palo Alto for 10 years and grew up in the area.  EPA in the day was a war zone.. but I think it has changed a lot.. I would at least drive through and see what can be rented and check the schools before you cross it off the list.

Come to Toledo you can buy fourplex to house hack for 300k or a single family for 75k.

Quote from @Myeasha Jones:

I’m having a hard time on Deciding to take a job offer in Palo Alto My biggest hesitation is the average rent cost in Palo Alto being $4,200 for a 1 bedroom 

My personal non negotiable are not having a commute / living within 5 miles of my job

the offer I got is $100,000 base and $40,000k in equity after 1 year.

I’m currently with a company where my base pay is $38,480 and $26,100 (housing allowance) & there’s $100 bonus per lease.

So people are saying I’m crazy for even considering to stay but I’m truly having a hard time because

I also would need to pay for full time childcare in Palo Alto most quotes I have are within $2700-3500, so I’m adding that with the cost of housing and it doesn’t really add up and it’s making my head hurt. I’m the sole income provider.

Is this offer something I should be moved to take?

$4,200 / mo is $50,400 / yr . At $100K gross, your take-home will be around $74,000 net before voluntary deductions (health, other benefits, 401k, etc.).

After daycare, "Cowboy math" looks like you're coming up negative before you even look at groceries and other purchases.

My $0.02 ...

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area. 

You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!