Quote:
Originally Posted by qba335i
It's not what you make - it's what you save.
300k - total salary
-37k - max 401k contribution for 2 people
- 80k tax (30% tax rate)
= 183k
Now expenses (annual):
- 50k mortgage (600-700k home)
- 15k property tax
- 10k car payments
- 10k vacations (family of 4)
- 12k groceries
- 20k school/activities for 2 kids
- 10k clothes
- 10k miscellaneous home items
- 20k student loans (graduate school?)
A few other expenses and you basically live paycheck to paycheck.
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$10k clothes & $12k food? That's nuts. Glad I have no kids.