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Talk to me September of 2014, when theres no more daycare and loans are paid off -- I will be sooooo happy.

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Anonymous wrote:I make 90k and save $18k per year in my 401k, plus $6500 per year in savings, at least $2400 in college savings for the kids, $10k in Roth IRAs and at least $1500 in extra mortgage payments. That adds up to more than $38k which is more than 40 percent of gross.

If I can do that with 2 kids and only one of us working and a sub $100k salary those of you with HHIs in the hundreds of thousands and less than 20 percent are doing something wrong.

So you live on $52,000 a year with two kids???

Minus taxes, yes. Youngest is not quite one yet so doesn't cost much. But it's pretty easy and we live well (eat out, go on vacation etc). I find myself staggered that people spend such ludicrous amounts of money here. I genuinely can't understand what you are spending it on (though our housing costs are low).

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Anonymous wrote:I make 90k and save $18k per year in my 401k, plus $6500 per year in savings, at least $2400 in college savings for the kids, $10k in Roth IRAs and at least $1500 in extra mortgage payments. That adds up to more than $38k which is more than 40 percent of gross.

If I can do that with 2 kids and only one of us working and a sub $100k salary those of you with HHIs in the hundreds of thousands and less than 20 percent are doing something wrong.

We pay a much bigger percentage of our incomes in taxes than you do and can shelter and get less breaks than you do. Maybe I should judge you for not earning as much as I do?

<facepalm> This might (MIGHT!) be true if you only include income taxes. But that would be idiotic. Counting all of the other taxes, the first PP's tax burden is significantly higher than yours.

You are delusion if you think that sales taxes makes a big difference. Our federal and state taxes are over 100k. You don't even make enough to spend 100k and sorry but 5% of that is peanuts.

No way. Federal income tax, state income tax, FICA, property, sales, what else am I missing? I am willing to beg a very large sum of money that we pay a greater percentage.

And you'd be wrong. Sales tax, FICA and property tax jack up the burden on lower income people.

This is the 90k poster. I am not the same person you have been arguing with abut my tax burden. However you seem to have forgottenhow percentages work. Sure you might pay a lot more tax than me butyou started that you pay more sa percentage which is very different. I would guess that you pay less than 20 percent taxes, like most rich people. Excluding sales tax, I think last year,.according to Turbo Tax my tax burden was about 28 percent.

You would be dead wrong and have no understanding of math. We pay more than you in taxes. First we don't have a mortgage (we rent) and second ever damn deduction is phased out (student loan interest for example).

Are you completely STUPID? How can you claim that I have no understanding of math!!!! Staggered. YOU are the one who bought up percentages. Let's look at this.

I earn 90k and pay 28 percent that means that I would pay a little over $25k in taxes total.
If you earn 400k and pay 28 percent that would mean that you pay 112k in taxes.

112k is a lot more than 25k, yes, but it is THE SAME PERCENTAGE of income!

Let's say that your total tax burden is in fact 92k, with an income of 400k. 92k is 23 percent of 400k. HENCE in this example, I am the one paying a higher percentage EVEN THOUGH THE ABSOLUTE DOLLAR AMOUNT FOR THE 400k EARNER IS MORE.

End the basic math lesson. Considering you allegedly earn so much money you're pretty dumb when it comes to math. Obviously these are examples because I DON"T KNOW HOW MUCH TAX YOU PAY! But it would be a good idea for you at your age to have a basic understanding of what a percentage is, especially if you are going to spout off about them.