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re: How much to be an OT Baller by state
Posted on 9/17/17 at 5:26 pm to Lithium
Posted on 9/17/17 at 5:26 pm to Lithium
This "by state" stuff is really stupid. Upper-income in Manhattan is not that same as upper-income in Buffalo.
Cost of living is relatively accurate by city, but not at all accurate by state.
Cost of living is relatively accurate by city, but not at all accurate by state.
Posted on 9/17/17 at 8:14 pm to Pecker
quote:
This "by state" stuff is really stupid. Upper-income in Manhattan is not that same as upper-income in Buffalo.
Cost of living is relatively accurate by city, but not at all accurate by state.
Exactly. If my household income is $250k in Bunkie, LA then I'm rich, not so much in New Orleans.
$250k
-$34k for 401k
-$10k for health insurance
-$70k rough estimate on taxes
-30k in mortgage and escrow account
-$12k in utility bills for home for the year including cell
-$12k per year for car/insurance/upkeep/gas
-$24k in daycare/school for just two kids
That leaves you with $55k for the year before you spend a penny on anything like medical bills, food, vacations, clothes, entertainment, baby sitting and hopefully you're saving/investing more than just the money in your 401k.
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