Trafalgar,
you sound more bitter by the day.
If you honestly think that 150 k income would result in living on 500 sqft you are either a lyer or an imbecile. Your pick.
PS I say again: I would NOT accept the contract. But, dear Trafalgar, why do you hate the truth so much? Why don't you trust in the judgement of a colleague who is simply asking a simple question?