Anonymous
09/23/2013 14:19
Subject: if your HH income is around 200K...
"Your HHI of $200K, it does not mean you have the total amount. Have you subtracted out your taxes yet? For examples, Federal tax, state tax, SS tax, medicare tax, Obama tax, 99% tax etc. With all these taxes, it total about 40% of your HHI if you are lucky. It can be higher. So here you go, you only have 60% of you $200K or $120K. Now you know why you have no money left."
Not true. I make 195K and pay about 50K for state and federal income tax and property tax. Even if you include my bit of SS/medicare, it is less than 30%.
Not true. I make 195K and pay about 50K for state and federal income tax and property tax. Even if you include my bit of SS/medicare, it is less than 30%.
Anonymous
09/23/2013 11:50
Subject: if your HH income is around 200K...
Anonymous wrote:Anonymous wrote:Your HHI of $200K, it does not mean you have the total amount. Have you subtracted out your taxes yet? For examples, Federal tax, state tax, SS tax, medicare tax, Obama tax, 99% tax etc. With all these taxes, it total about 40% of your HHI if you are lucky. It can be higher. So here you go, you only have 60% of you $200K or $120K. Now you know why you have no money left.
I am unfamiliar with the Obama tax. Can you explain?
tax increase to pay for his ObamaCare.
Anonymous
09/23/2013 10:54
Subject: if your HH income is around 200K...
Anonymous wrote:Your HHI of $200K, it does not mean you have the total amount. Have you subtracted out your taxes yet? For examples, Federal tax, state tax, SS tax, medicare tax, Obama tax, 99% tax etc. With all these taxes, it total about 40% of your HHI if you are lucky. It can be higher. So here you go, you only have 60% of you $200K or $120K. Now you know why you have no money left.
I am unfamiliar with the Obama tax. Can you explain?
Anonymous
09/23/2013 09:10
Subject: if your HH income is around 200K...
Your HHI of $200K, it does not mean you have the total amount. Have you subtracted out your taxes yet? For examples, Federal tax, state tax, SS tax, medicare tax, Obama tax, 99% tax etc. With all these taxes, it total about 40% of your HHI if you are lucky. It can be higher. So here you go, you only have 60% of you $200K or $120K. Now you know why you have no money left.
Anonymous
09/23/2013 06:57
Subject: if your HH income is around 200K...
Anonymous wrote:155K HHI.
Net salary: 7000/Mo
(includes about 1.5K 401k, and 760 Insurance)
Mort. $2K
Food $800k
Cars Payments (total $800)
Utilities/Cell: $420
Medical about $800/mo (maxes out at 9K/year)
Entertainment: $100
Lunch for me (at work): $180
Gas: $120
The rest I do not know....but we are not saving money.
Medical bills are high to keep primary wage earner/cancer patient alive.
I think you have a problem with your food at 800k.
Anonymous
09/23/2013 06:16
Subject: if your HH income is around 200K...
155K HHI.
Net salary: 7000/Mo
(includes about 1.5K 401k, and 760 Insurance)
Mort. $2K
Food $800k
Cars Payments (total $800)
Utilities/Cell: $420
Medical about $800/mo (maxes out at 9K/year)
Entertainment: $100
Lunch for me (at work): $180
Gas: $120
The rest I do not know....but we are not saving money.
Medical bills are high to keep primary wage earner/cancer patient alive.
Net salary: 7000/Mo
(includes about 1.5K 401k, and 760 Insurance)
Mort. $2K
Food $800k
Cars Payments (total $800)
Utilities/Cell: $420
Medical about $800/mo (maxes out at 9K/year)
Entertainment: $100
Lunch for me (at work): $180
Gas: $120
The rest I do not know....but we are not saving money.
Medical bills are high to keep primary wage earner/cancer patient alive.
Anonymous
09/22/2013 18:50
Subject: if your HH income is around 200K...
$197k
Mortgage $2k
Max out 401k
Childcare (2 toddlers) $2k
Student loans $2k (only 6 months left!!!)
Food $700
Car, gas commuting $600 (2nd car is paid off)
Cable, utilities, cell $450
Cleaning ladies $250
Yard service $100
Misc $400
Savings $400
Mortgage $2k
Max out 401k
Childcare (2 toddlers) $2k
Student loans $2k (only 6 months left!!!)
Food $700
Car, gas commuting $600 (2nd car is paid off)
Cable, utilities, cell $450
Cleaning ladies $250
Yard service $100
Misc $400
Savings $400
Anonymous
09/22/2013 18:32
Subject: if your HH income is around 200K...
Anonymous wrote:HHI about $220k.
No kids.
Mortgage/Line of Credit payments about $2100.
Maxed 401k contributions.
I have a car payment $475 for another four years.
Our finances are set up as yours/mine/ours, with $3000 each put into the joint account each month for mortgage and joint expenses (groceries, eating out, household stuff, utilities, travel, etc.). That's usually pretty well spent--sometimes a bit left over to go into savings, sometimes we have to add a little more.
The car payment is eating into my discretionary income, but I had built up a $40k personal savings pile over recent years. DH has his own savings. Our joint savings was doing well until we did about $30k in work on the house (some of which is now in the LOC). Before the new car, I had about $1k in monthly discretionary $ after handing over $3k to the joint account and putting $500 in savings.
We travel, though don't spend exorbitantly. We eat out almost every meal on weekends.
We consider it a very comfortable existence.
You're my financial twin!
Anonymous
09/18/2013 14:17
Subject: if your HH income is around 200K...
The more you make, the more you spend....
Anonymous
09/18/2013 13:27
Subject: if your HH income is around 200K...
HHI about $220k.
No kids.
Mortgage/Line of Credit payments about $2100.
Maxed 401k contributions.
I have a car payment $475 for another four years.
Our finances are set up as yours/mine/ours, with $3000 each put into the joint account each month for mortgage and joint expenses (groceries, eating out, household stuff, utilities, travel, etc.). That's usually pretty well spent--sometimes a bit left over to go into savings, sometimes we have to add a little more.
The car payment is eating into my discretionary income, but I had built up a $40k personal savings pile over recent years. DH has his own savings. Our joint savings was doing well until we did about $30k in work on the house (some of which is now in the LOC). Before the new car, I had about $1k in monthly discretionary $ after handing over $3k to the joint account and putting $500 in savings.
We travel, though don't spend exorbitantly. We eat out almost every meal on weekends.
We consider it a very comfortable existence.
No kids.
Mortgage/Line of Credit payments about $2100.
Maxed 401k contributions.
I have a car payment $475 for another four years.
Our finances are set up as yours/mine/ours, with $3000 each put into the joint account each month for mortgage and joint expenses (groceries, eating out, household stuff, utilities, travel, etc.). That's usually pretty well spent--sometimes a bit left over to go into savings, sometimes we have to add a little more.
The car payment is eating into my discretionary income, but I had built up a $40k personal savings pile over recent years. DH has his own savings. Our joint savings was doing well until we did about $30k in work on the house (some of which is now in the LOC). Before the new car, I had about $1k in monthly discretionary $ after handing over $3k to the joint account and putting $500 in savings.
We travel, though don't spend exorbitantly. We eat out almost every meal on weekends.
We consider it a very comfortable existence.
Anonymous
09/18/2013 10:49
Subject: Re:if your HH income is around 200K...
Anonymous wrote:We are a bit more than 200k. After mortgage ($2500), daycare for 2 ($2400), fully funding 2 401ks and IRAs (~45k/yr), and saving for college (10k/yr), we don't save much in other accounts. We spend about $600/mo in groceries and eating out (food only, so tack on another $150-200 in household supplies). Our travel spending varies - can be as high as $10k, or as low as $3k. Also have about $500 in school loans. I know we could probably save more if we cut down on food spending or travel, but I still feel like we're doing pretty well to maintain that level of retirement/college savings while we are still in the daycare for 2 phase.
I've subsequently posted mine but this resembles us quite a bit.
Anonymous
09/18/2013 09:29
Subject: if your HH income is around 200K...
We make roughly $225k, two preschool kids. We max 401ks and contribute $200/month to each of two college savings plans (the tax deductible amount). But we're running a slightly negative cash flow that erodes our short-term savings a bit. I'm comfortable with that, since the double daycare expense is big and extraordinary. We don't want for anything and I'm grateful for that. We could tighten up spending and could make do with less, but I'm content to concede short-term savings for now and enjoy spending a little.
Major monthly expenses:
Housing $2,500 (long commute).
Durable goods, fuel, general expenses (credit card) $3,500
Daycare/preschool $2,750
Groceries and dry goods $1,500 (we spend $300/week at Whole Foods like we just don't care)
Vacations ~$500
TV/internet/phones $300
Going out ~$250
Fixed recreation expenses $250
Housecleaning $200
Student loan < $175
Landscaping > $100
Life insurance > $100
Auto insurance >$100
Two cars, a 2004 and 2010, are paid off
Major monthly expenses:
Housing $2,500 (long commute).
Durable goods, fuel, general expenses (credit card) $3,500
Daycare/preschool $2,750
Groceries and dry goods $1,500 (we spend $300/week at Whole Foods like we just don't care)
Vacations ~$500
TV/internet/phones $300
Going out ~$250
Fixed recreation expenses $250
Housecleaning $200
Student loan < $175
Landscaping > $100
Life insurance > $100
Auto insurance >$100
Two cars, a 2004 and 2010, are paid off
Anonymous
09/17/2013 22:55
Subject: Re:if your HH income is around 200K...
We make $197K combined.
We fully fund our employer sponsored retirement 401K options, use a Dependent Care savings account, and have healthcare taken pre-tax from our take home pay leaving us with about $9000 a month.
Mortgage: $2453
Daycare: $1340
Utilities (cell, tv, internet, water, cable): $300
Life insurance: $93
Student loan: $320
Car insurance: $150
Charity: $500
Savings: $1200
Gas and car repairs: $350
Groceries: $400
Home repairs: $600 (goes to a fund to pay for items that crop up - this year we had to do the HVAC, back stoop, and garage doors.)
Dining out: $400
Discretionary: about $800 (goes to alcohol, clothes, hair cuts, pet supplies, stuff for the kid, travel to see family (and theoretically a vacation, but we haven't taken one in at least 2 years), and gifts)
We fully fund our employer sponsored retirement 401K options, use a Dependent Care savings account, and have healthcare taken pre-tax from our take home pay leaving us with about $9000 a month.
Mortgage: $2453
Daycare: $1340
Utilities (cell, tv, internet, water, cable): $300
Life insurance: $93
Student loan: $320
Car insurance: $150
Charity: $500
Savings: $1200
Gas and car repairs: $350
Groceries: $400
Home repairs: $600 (goes to a fund to pay for items that crop up - this year we had to do the HVAC, back stoop, and garage doors.)
Dining out: $400
Discretionary: about $800 (goes to alcohol, clothes, hair cuts, pet supplies, stuff for the kid, travel to see family (and theoretically a vacation, but we haven't taken one in at least 2 years), and gifts)
Anonymous
09/17/2013 20:27
Subject: Re:if your HH income is around 200K...
To the PP who spends $400 a week on groceries, do you have kids? Shop exclusively at Whole Foods? I'm just curious how that happens.
Anonymous
09/17/2013 18:01
Subject: Re:if your HH income is around 200K...
Anonymous wrote:Anonymous wrote:230K here
5K - savings
3K - mortgage
2K - taxes
1K - kid-related expenses
1K - food
800 - travel (average)
700 - insurance
indiscriminately spend the rest
In that 5K of savings, are you including 401K?
Yeap.