Reply to $600K-$800K HHI

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Reply to "$600K-$800K HHI"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]We make 850k[/b], DH 54 and me 50 yrs old. We started making this kinda money only 6yrs back, before that we made around 350k. We have a NW of 5 million, [b]we save around 350k/year[/b], as I noted that we started making this sort of money late in life so our priority is savings. We do spend 20k/year on vacations, kids go to public school, we bought our house in 2018 and our [b]mortgage is 5200/month[/b].

No budget as such, we have a savings number and after that we spend the rest.[/quote]

How's this possible? What's your take home pay?[/quote]

700k of that income is from DH’s consulting company, he can contribute [b]200k to a defined benefit plan f[/b]rom gross income to save taxes and we save 150k on top of those savings.

Also, I save 85k in my 150k job, [b]60k in 403b and 457( we have two plans available)[/b] and a 25k retirement contribution from my employer to my state pension. We live as if we are making 300k, which is plenty for us as our housing expenses are relatively modest as we bought in 2018. [/quote]

These numbers don't seem legal to me. What is the code for the 200k in savings from your husband's consulting company? How can you participate in multiple retirement plans at the same time?[/quote]

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