300k in tech and still broke #reaction

Tune in as Tech Job Tina reacts to a tech employee that is struggling on a 300k salary .

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before we get into today’s episode I want to take time out to give credit where credit is due I want to give props to the program that helped me get where I am today there would not be a tech job Tina here talking to you about how she went from being a SDR to a AE in eight months without this program that program is course careers is a self-paced affordable course that you can take to help you get into an entrylevel Tech role now I took Tech sales and I never looked back but hey maybe Tech sales is not for you that’s okay they got other entrylevel Tech rolls you can choose from all at a very affordable price and I’ll even help you make it even more affordable by giving you my discount code link so you can take an additional 50 bucks off of any course that they offer and they also have payment plans available so for those of you on the fence looking for a way to break in the tech I am a walking breathing testimony that it works so get off that fence and go get your Tech job peace what’s going on guys it’s your girl Tech job Tina signing in for another episode today’s episode man we’re going to look at some content together that I discovered and then we’re going to get in into a little bit of news Okay so the content that I’ve recently stumbled upon and just showed up in my YouTube algorithm is a young lady that lives in the Bay area of California she makes $300,000 a year and she is struggling right so of course everybody around her is like how in the hell can you be struggling on $300,000 so she proceeds to break down her paycheck and she goes through the deductions and the taxes and the explanations as to why she is struggling so I want to share that video with you it was very interesting and it’s going to lead into the next topic that I kind of want to get into after that video so I’m going to share my screen with you and let’s check out this video it’s only a few minutes long we may not even do the whole video so let’s go how much money do I really get in each of my paycheck and what is it before tax and after tax and what are the deductions and the itemized uh things that need to be taken out of that paycheck every single time and how much of it is left uh to send to me and uh because I received a lot of questions and my comments about like oh what happened to your budget like how is it that you’re making 300K a year and you’re still suffering struggling in the US like what’s wrong with you uh so I figured I want to do an episode on on my paycheck breakdowns of this topic uh so that I answer I I’m hoping to answer most of your questions on that front my next episode I’ll do a budgeting overview basically my or my expense overview like how much uh money I’m spending on every single uh one of an item like B you know daycare preschool uh you know rents things like that cars um things like that in my next video um because I just I don’t have limited time today um so let’s before further Ado let’s Dive Right into this um so I’m not going to share my screen on my actual paycheck because that’s a lot of like sensitive information so I’m just going to read out loud a lot of uh the numbers while I look at it and but you will just be seeing my face not going to screen share my paycheck hope you can understand okay so I’m looking at my most recent paycheck from pay period um April 21st to May 4th and um my gross pay is $ 7,692 31 and there’s a pre-ex deductions of $982 198 and there’s employee taxes of $1,726 32 and there’s post tax deductions of 369 uh I think that’s for my pet insurance and the net pay I receive um which is the amount that I receive in my bank account is $4,975 32 so my gross pay original number is $7,695 and my my net pay is$ 4,979 uh 32 okay and my uh year to date number is the gross pay is um okay 13 U the gross pay is 134 521 134521 85 gross pay year to date so it’s like if you uh see this you’ll be like w that’s like a lot of uh money just for the first half of the day already it’s like over 134k but there’s a pre a pre-tax deduction of over 11k and employee taxes okay employee taxes that I paid that I have paid this year is um 38k 38k and there’s a post tax deductions of $ 23,36 and my net pay so out of all that 134k my net pay is 61k 953 so it’s like less than half um it’s like 40% or something of my gross pay um so let me stop that right there all right so as you heard she’s running down her her money and everything so after all the deductions um every month sounds like she makes like $99.58 so she because the number the $4,000 number of course that she said she gets paid every two weeks so for the month she’s bringing home 9958 is what she’s actually bringing in right and you notice when she was running down the taxes she’s only bring she’s only getting 40% of her salary right she’s been getting hit it’s like du 5,000 cuts on the taxes because we’re we’re taxed from so many different things the government will give things all these fancy names at the end of the day they’re all taxes right so she’s getting uh knocked upside the head with taxes right so let’s get back into it and okay what else so basically my employee uh taxes is like uh a combination of O asdi Medicare Federal withholding state tax CDI there’s like five items under the employee taxes and my pre-tax deductions include 41k Dental Med medical Vision uh amounts so four items uh for pre-tax deductions my post tax deductions are pure so pet insurance and also there’s RSU offset which is taxes paid on what withheld on R stocks yeah so there’ll be a high level breakdown of you notice that pause that she did she’s kind of looking back over all those deductions and you can see the look on her face she’s like damn man I’m getting he killing my paycheck that was the look on her face in those few seconds right there and she’s right this is ridiculous um how much am I supposed to get gross pay like before all the uh deductions and after all the deductions and you see it’s like about 40% of the original grow pay so if let’s say my annual package is 300K the most I can get is 40% of that so it’s about um you know like 120k or something yeah which is about right so it’s about 10K in a month so actual paycheck is about 10K a month the money that I um get in my bank account and um and to be honest my annual package of 30 00k is so it’s broken down into like salary bonus and rsus where my um base salary is 200k my bonus my targeted bonus is 10% so at most I’ll get 10% of my base salary as a bonus which is 20 uh 20K but that would be at the most if the compan is not doing well like if the market performance is not good which is the current case stock uh performance is really bad uh currently so we get way less than that targeted bonus so maybe like 3% or um something like that you can consider it as like um almost um you know negligible and the other 8K is supposed to be the rsus which has depreciated significantly um this past two years so the original package amount that I got was 80k rsus now it has depreciated to be uh I think less than half so maybe like 40K let’s say 40K at the most so the real kind of value that I get the real money that I get each year is about 250k um these days because of of all the you know poor market performance combined um so yeah so to be honest every single month the money that I get in my bank account is about 10K okay you might still say okay that’s like a lot a lot of money uh you know income every single month 10K is like you can buy a lot of things with it already you can live a good quality of living already but uh without kids that’s like a beautiful life right without kids but do take into consideration I have two kids and a dog a a big dog Golden Retriever at home that I need to take care of and support and I do have a husband but he is a small business owner and these days is uh his business is not uh doing very well so you can consider him as like you know not contributing as much to the household income so 10K is like kind of our household income and um before I have like the actual numbers of how much we spend every single month at a high level these are the items that are major expenses for us um my two kids daycare expenses my daughter goes through preschool with which is uh $2,080 a month and my uh son goes to Family Daycare which is about uh $2500 a month so that is um $4,500 about 4,500 and our rental monthly rent is about 3,000 so do the math so 45 plus all right so let me pause that right there right all right so she did the run down on her biggest expenses right so after taxes on the monthly looks like she’s bringing in exactly 99.58 she rounded it to 10 but based on the number she was saying it calculates to about 9958 for the month right so she’s got two kids and they’re both in school or daycare or whatever right the the first one she’s paying $2,080 a month for the first kid right the second kid she’s paying $2500 a month for that one right then when you factor in the rent her rent $3,000 a month right that leaves her with $2,378 a month we have not gotten into what her utility cost are we have not gotten into Transportation cost we have not gotten into food and incidentals and everything else right just those three numbers alone I can see why she is struggling right I mean those daycare costs are crazy is this what y’all out here in these streets paying for these kids to go to daycare I mean me and my husband don’t have kids but if this is what they cost we going to leave them little Jokers where they at I mean good God that’s like $5,000 a month just for the kids to go to daycare or preschool or whatever they’re in right that’s ridiculous and then of course 3,000 for the rent but she lives in the Bay Area so we all know that California rent is ridiculous right so let’s get back into it 30 that’s like $7,500 a month off already just on my kids daycare cost and my and our rental expense and we are left with about 25k h no no no 2500 for a month to You Know cover the expenses and that’s not to include the cars expense on cars and on groceries you know um eat outs things like that so I would do a more um detailed breakdown of the monthly expenses next time when I have the actual numbers pulled out but these are the major expenses on top of my head already and if you’re asking okay you’re making 300 kit a month uh 300 kit a year year uh package why you’re still suffering here is why we’re still suffering uh in the Bay Area with um the 300K um income a lot of it is first a lot of this has depreciated and second the all the tax deductions um you know pre-tax deductions taxes and post post tax deductions are already taking about 60% off of my gross pay so even if I make 200k salary a year the amount that I get after all these you know deductions is about 40% of that so it’s about 80k that arrives in my pocket that that’s like available for spending every single every single year so 0k a family of four and a dog living on 8K uh you know um cash a year in the Bay Area is quite tight I would say um yeah so what do you think all right so I’m gonna stop it right there daycare and housing eating up the income right so the first thing people think is well why don’t you move right why don’t you move so maybe for whatever reason hey it sounds easier said than done right yeah that that would probably uh handle a lot of their problems especially we live in a day and age where remote work is prevalent and this young lady she does work in Tech so that’s why I actually covered this content because she works in Tech she makes great great income but living expenses being taxed a thousand ways a Sunday all of these outside things are eating up her income and she feels like she’s making peanuts because everything is just costing ridiculously too much right so let’s play around with that a little bit she’s in the Bay Area she’s in California imagine if she moved to a city where the cost of living was way less right she’s in a two-bedroom apartment paying $3,000 a month imagine if she moved to a city where the rent for the same size apartment was $1,500 a month she would immediately feel the impact of those savings right being able to save 1,500 bucks a month you’re GNA feel that right it’s gonna feel pretty good right I would also imagine if she moves to a a place where the cost of living is lower the cost of daycare preschool or wherever her kids go would probably also drop as well so that’s some additional savings right and then depending on what state she chooses to move to you probably can save on taxes we do have some states where there is no state tax right so that’s another possible savings so yeah moving could be a big help for her provided that she works remote work I know she works in Tech but I don’t know if it’s remote right so this leads me into my next point with remote work being so prevalent if you were working a remote job and you wanted to save or would you move if even if that meant going to a place that was a smaller City you work remotely you can live wherever you want right would you leave the place you’re at and go live in a smaller town that will allow you to save money that will allow your high income to go a lot further because the cost of living is lower would you move I’m G tell you my take if it was up to me I would be living somewhere like Mexico or Thailand or Panama somewhere where I’m a rock throw from the beach and my rent is $500 a month that that would be what I would be doing but it’s not just up to me I I’m married and my husband is not really that fond of the idea right so you always always have those things that you have to contend with right so maybe she’s in the same boat and for whatever reason they want to stay planted in the Bay area but I POS the question to you right you guys watching you work remotely you have a great income would you move right did you know there are cities across the us that are paying remote workers to move to their cities right there’s a list of them we’re going to get into that list we’re going to look to the list ask yourself man if I was making a great income would I take that money and move to that City I’m G share my screen with you and we’re going to go through the list right quick all right so here’s the CNN article right here the title is these US cities will pay you up to $15,000 to move all right so let’s get into it and let’s see what those City are I’m not going to read all the fluff we’re just going to get right to the list okay the first city Tulsa Oklahoma Tulsa remote became the first program of its kind by offering remote workers and entrepreneurs $10,000 to move to the South Central US city for one year since then some 2,900 people have been accepted into the program and as of December 20122 its members have generated nearly $37 million in direct employment income according to the most recent Tulsa remote economic impact report now I’m going stop there you might ask well why would these cities pay thousands of dollars for people to move to their cities why because they want the income right they want that Revenue so that they can grow their cities what happens when you live in a place right you spend money into it you’re going out you’re hanging out in the city you’re buying things you’re contributing to the local economy right and then of course you you have local taxes and things like that that are also contributing into the local economy so this is why smaller cities right want people to move to their town so that they can get that increased revenue and grow the city you cannot grow a City without people right all right so let’s finish this on Tulsa all right so let’s see here in addition the program also generated an estimated new sales tax revenue of $2.5 million for Tulsa County and 3.1 million for the state of Oklahoma we have also seen a strong multiplier effect of friends and family joining members in Tulsa with the city gaining three residents for every two Tulsa remote program participants right so of course automatically that’s what’s going to happen right your family or your friends they get wind that you’re moving to a small City because you’ve been given a $10,000 incentive to move right it pequs their curiosity right so of course what’s going to happen once you get moved up there and you get settled in they want to come and visit right they want to go and see okay is this really on the up and up you got this $10,000 to move to this city let me go visit and see what it’s all about right so what happens your friends come and visit your family come and visit and maybe they look around they say okay this is all right right here they paid you $10,000 to move here and the next thing you know what now your friends and your family are also moving so they can get that incentive and they’re moving there to be where you are right so it’s a win-win for the city it’s a win-win for you because you’re Sav money right so let’s get into it so that was TOA so let’s go to the next city the next city that we have is uh is West Virginia and I believe West Virginia has more than one city in the state that they’re actually paying so let’s see here Ascend West Virginia is a public private initiative with an impressive pedigree his Founders are West Virginia native Brad D Smith former CEO of software company in and his wife Alice now in his third year the program provides eligible recipients sometimes known as ascenders with a $122,000 cash incentive $110,000 the first year an additional $2,000 the second as well as outdoorsy perks like free passes for rock climbing ziplining and Golf to explore West Virginia’s rugged Landscapes as well as access to free co-working spaces the full relocation package is valued at more than $20,000 and to date more than 42,500 applications have been received according to a spokesperson applicants can choose from a diverse range of Ascend communities from the small mountaintown Vibes of the greenb valley to Outdoor Adventure Galore in the country’s newest National Park New River Gorge which also is the most recent Community to the program with an impressive 96.5% retention rate across the program in addition organizers have submitted a funding request to the state legislature to expand the program so there could be even more participating communities in the future all right so that’s West Virginia few two or three places there that you can move and get paid right next in line Indiana Indiana has been one of the most ambitious States when it comes to enticing a new wave of workers with financial relocation packages and perks dozens of cities and regions have an incentive package in place according to make my move and as of 2023 some 340 households have relocated to Indiana through the platform hopeful hooers have plenty to choose from for their new home a package valued at $115,000 in Noblesville is a suburb of Indiapolis includes a $5,000 relocation Grant a season of free golf at two courses and coffee with the mayor in Evansville meanwhile qualified applicants can take advantage of $7,200 incentive that includes $5,000 in Cash Museum passes and a one-year membership to the oldest Urban old growth forest in the US right so that’s Indiana the next one Topeka Kansas let’s see offering applicants up to $115,000 in incentives via employer match funding since then more than 6,000 people have applied with nearly 150 lucky newcom s chosen to move to the sunflyer state it says Topeka doesn’t just focus on remote workers transitioning veterans people who have recently left military service and boomerangs which are former residents of the Topeka area looking to return to sha uh shauni County they’re all eligible for $5,000 in direct incentives if if they accept a job offer in TOA with a minimum salary of $50,000 recipients are required to remain for at least one year but an impressive 95% of them stay for the long term according to Robert Ross a senior VP of marketing and Communications with go toeka the economic development agency in shaune county that administers the program people love how accessible and friendly our community is Rosso CNN with around 175,000 residents in Topeka the city is very easy to navigate and recipients quickly learn that Midwest nice is a way of life here right keeping it moving we got more right Kentucky all right uh let’s see here according to make my move there are eight cities and towns currently recruiting new workers the $8,800 package to relocate to Mayfield and Graves County includes $5,000 cash as well as plenty of other perks 50% off after school child care now this this would have helped my girl in the Bay Area right that that 50% off after school child care right that would have came in clutch for her right lunch with the mayor and a free monthly delivery of eggs just the name a few several cities also include a $2,500 bonus on top of the $5,000 cash for workers who bring a spouse who will work locally in health care or education you see what they’re doing they’re trying to form their City they want quality residents in their city right and you notice they all had an application process you have to qualify right I can get guarantee you they do if you broke they don’t want broke people moving into their City they want people that can contribute to society so I guarantee you on those applications part of the qualifications is how much money you making because if you’re not making a certain amount or better they’re not going to accept you into their city right why would they it makes total sense if you want people with good incomes that can help your city flourish right so it makes total sense to me so let’s keep it moving the shows Alabama wow that’s pretty all right so let’s see here they call their program remote shows it offers qualified workers up to $10,000 the program launched in 2019 and received his fourth round of funding in 2022 for a total of $1 million in investment as of February 2022 it had received 2,300 applications from all 50 states as well as several from abroad with participants coming from 22 different states eligible applicants must be self-employed or a full-time remote employee outside cobber and Lauder Dar counties here we go make $52,000 or more annually and relocate to the show’s area within six months of being selected that’s that uh that’s that salary qualification right there they said no we don’t want no brokies we want you to be making enough money to contribute you know into our economy right all right so let’s keep it moving to the next one Rochester New York remote workers who aren’t interested in taking a bite of the Big Apple can look to Rochester the greater Roc remote program offers $10,000 in Grants and incentives plus another $99,000 for home buying grants the program which was modeled after Tulsa’s program and others welcomed its first uh recipients in April of 2022 the goal is to bring in about 600 participants not including family members over the next 3 years to be eligible applicants must live more than 300 miles from downtown Rochester or in any other state except New York have a fully remote job and be 18 years or older applicants who have interviewed also are eligible to visit Rochester in person with expenses of up to $500 and 7 $750 per couple which is reimbursable Alaska all right so let’s see here uh the Last Frontier is the most sparsely populated state in the US with the third smallest population H hovering at around 700,000 for the last decade but instead of dangling cash incentive to potential residents out of state Alaska instead provides those already within its borders with a yearly sum from its Permanent Fund dividend or PFD the amount is variable every year depending on what the government provides but in 2022 every res pres received $3,284 the highest amount so far under the program however in 2023 and 2024 the figure dropped to $1,300 to be eligible for PFD you must live in Alaska for a whole calendar year before applying in addition you should plan to remain there indefinitely other qualifying criteria also apply applications are open between January 1st and March 31st so they’re doing a little bit different they’re paying you to stay right so it’s open up to its current residents and they want to pay you some type of incentive to stay in Alaska they don’t want people to go right they talked about their population their population is the third smallest and it has been it’s stagnant right so they cannot afford to have people leaving Alaska so I’m GNA give you a cash incentive hoping that you stay so that’s the way they’re doing it right all right so let’s move on we got Michigan prospective college students are recent grads in the Great Lake State approximately 350 scholarships and internships are up for grabs in the minger scholarship program which is designed to attract talent for the state’s uh burgeoning electric vehicle mobility and semiconductor Industries the Euro program award scholarships ranging from $5,000 to $10,000 to qualifying recipients who complete an internship and or accept a full-time position in Industries including Computing Electronics software development or process engineering they’re doing this same things like we want we want people here that make those good incomes they got high incomes they’re going to spend money our our economy is going to flourish right there are some stipulations of course the job or internship must come through a participating company and recipients must commit to staying in Michigan for at least 12 months so another one-year program in addition the program is curated after being selected to join a cohort of qualified candidates then they are brought into special opportunities to meet and greet with employers that then lead to either an internship opportunity or a job opportunity so far the program has awarded 62 scholarships with 521 students currently participating in the cohort the current initial phase will Award of the 350 scholarships and the pro and it say the program is growing so yeah man so I’m going to stop this right here so if you’re working remotely and the city that you live in is is is taking advantage of your paycheck right you have options right you can look at programs like these that are paying people to move into their cities there’s also places around the world if you want to move abroad there are also places around the world that will pay you to move you know to their locations as well you don’t have to stay in the states there’s plenty of programs like this abroad if that’s what you want to do or even if it’s not a program you have plenty of places around the world that are very affordable people are moving to places in Mexico this in Asia so you got a lot of options right so I pose that question to you if you get that remote job you’re making a lot of money and maybe it’s not going as far as you want it would you move would you take advantage of one of these programs would you consider moving abroad what would you do a girl in the Bay Area man if she was living in one of those cities that I just told you guys about and one of them even give you a break on your on your child care and everything else and they’re small town so the cost of living is probably a lot less I’m sure her her 300K would go a lot further or should I say her 250k because some of it was actually in stocks but even then you know she definitely feel the savings if she could move out of the Bay Area and that’s probably the case for a lot of us I’m here in Atlanta the cost of living here has skyrocketed since I’ve been here I’ve been here for well over 10 years now and I’ve definitely seen a lot of changes I remember when I first moved here me and my best friend shared a two-bedroom apartment in a very nice gated community our rent was $950 a month we split that down the middle and we had plenty of money left over to do the things we wanted fast forward to the DAT that exact same apartment is $1,500 a month so that’s the name of the game prices are up everywhere you just do what you can to try to save as much money as possible so even if that means moving somewhere where the cost of living is better then hey maybe that’s what you got to do but yeah I’m going to end this video right here I hope you found this content entertaining and I’ll see you guys on the next one Tech job Tina out peace and blessings bye