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][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]

No, because unless your brokerage savings are pre-tax, that means your numbers don't add up.[/quote]

Huh, not sure where or how my numbers wouldn't add up, but here are a couple thoughts.

"Take home" ignores my end of year tax refund.  We got something like $7k last year and it went straight to the brokerage account.

Part of the daycare (I think $5k) is paid pre-tax through an FSA account.  That also wouldn't be reflected in "take home"

Part of the medical/insurance line item (about $4k out of that $9k line item) is paid pre-tax and isn't in "take home"

Lastly, there is a possibility that some of the expenses (particularly in restaurants or uncategorized) were actually business expenses that were reimbursed.  I'm a FED, but I didn't include my travel per diem in expenses, but I probably have some restaurants, food, taxis and incidentals that still show up in expenses.  My wife also sometimes travels for work, and she uses our credit card and gets reimbursed for everything.  I try to cancel out or hide the big stuff (flights and hotels) but I probably miss a lot of incidentals.

Otherwise, I am as uncertain as you are why you think things don't add up.

Cheers![/quote]

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