Reply to How much do you make and how much FA do you receive?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI $100k, receive 60% FA. [/quote]

How can you afford to live? Not being sarcastic

The economic policy institute has a family budget calculator that estimates a family with 2 adults and one child needs $83,675. http://www.epi.org/resources/budget/

60% of $30,000 (typical private school tuition around here) is $18k

83675+18000 =$101,675. [/quote]

It's not my situation, but everyone makes different lifestyle choices. I have friends with a HHI of $200K and they ONLY shop in thrift and consignment stores (even for their kids Christmas gifts). They also have one car that is about 10 years old and not fancy. They take only take vacations that they can find on discount through Groupon, Living Social and CerifiKid (they love those time share deals where they get a few days for eithe free or $200 and they attend a stupid session knowing full well they aren't purchasing). They pay full freight at a private school for 2 kids. Material things just aren't a big deal for them. My point is I doubt those calculations really take in lifestyle choices.[/quote]

No!  You have to read the budget! It's based on the area. So here, I'll do my own math:
100000
-25000 (taxes)
-28000 (rent)
-8000 (groceries)
-7500 (healthcare)
-3000 (transportation)
-18000 (tuition!)
Which leaves 10,500, or $875 a month, for everything else!  It's not doable, even if you "vacation with deals from living social". Even basic phone service and Internet service for a two adult house is going to cost you $2400 annually.

Maybe they aren't paying much in taxes? Who knows. But I'm amazed at what people make due with these days.

[/quote][/quote]

"Sound of hand slapping forehead" there are tax brackets, if you make "x"amount, you pay "x" amount.  At this income level, I am guessing they don't have a lot of charitable donations or 401k contributions to get the number any lower. [/quote]

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