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Reply to "How do people live on 160k?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]After taxes that’s a take home of almost 10k per month. Someone show us your budget on this salary. [/quote] No, you have to put aside $30K pretax for retirement annually so it’s less.[/quote] IRS limits are 23,500. 250000-23500*.75 (because let’s get real that’s the high side of what i pay when taxes are complete) = $169875 Net Income/12= [b]$14,156[/b]/mo[/quote] It’s $30K if you are >50 years old. Add backdoor roth another $7K. HDHP with HSA another $3400-7K. [/quote]
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