Reply to Life is Easy in NW DC on $300k, AMA

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Reply to "Life is Easy in NW DC on $300k, AMA"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, still really curious about how you can save so much without scrimping at all.  What is your monthly take home (after taxes, tsp/401k, health insurance, etc.).  And for the TSP/401K, are you doing regular or roth? [/quote]

I've posted my budget upthread.  Take a look.  We do traditional 401k/TSP, not Roth.[/quote]

From what you posted, it looks like you are taking about $15K home a month.  That seems pretty high for an annual salary of $300K.  [/quote]

My last paycheck was 3342.08 after all the deductions.  I get paid biweekly.  My wife's paychecks are like 3100 something but she only gets paid twice a month.  So, I think that works out to more less than 14k "take home" per month.  Is this easier way to break things down for you?  I don't usually think about things this way.  "Take home" is a weird concept to me, because it seems to treat 401k (savings) the same as health insurance (spending) and taxes (a different kind of spending).  Not to mention all the complications about putting things in FSAs, or how many exemptions you claim, or whether you get a tax refund, etc.  But, does that help your question?[/quote]

That works out to be approx. $13.5 take home every month. [/quote]

Yes, it's a little more than $13.5k "take home" per month.  That's right.  Is everything clear now?[/quote]

Not really. That's a total of about $160k take home, but the after tax expenses you listed are $20k over.  That's not including the $5k annual donation (which I agree is generous):

74k taxes 
--- 
36k 401k contribs 
36k brokerage savings 
10k 529 
--- 
48k housing (includes PITI, utilities, and various home improvement/maintenance items) 
21k daycare 
11k groceries 
9k insurance and medical 
2k verizon 
--- 
11k restaurants 
11k clothes and other merchandise 
9k travel 
14k misc/uncategorized

[/quote]

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