A full breakdown of whether A$7,000/month covers the cost of living in Sydney — including take-home pay after tax, monthly costs, your savings rate, and how long until financial independence.
High housing costs are the main headwind. Superannuation provides a solid retirement base but is locked until 60. Strong professional salaries.
Income tax up to 45% plus 2% Medicare levy. A A$100,000 salary takes home roughly A$73,000.
Superannuation (11% employer contribution on top of salary). Additional ETF investing via CommSec or Pearler.