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Started By
Message
re: Budget Breakdown Of Couple That Makes $500k A Year And Feels Average
Posted on 3/26/19 at 2:12 pm to Janky
Posted on 3/26/19 at 2:12 pm to Janky
quote:
They match every dollar yo put in?
Not dollar for dollar, but they match.
Think it drops off some after the IRS limit, but I honestly forget. I'm shite when it comes to figuring out my retirement savings.
There is probably some other limits I don't know about as well, like I said, I should probably educate myself better on this.
This post was edited on 3/26/19 at 2:13 pm
1
Posted on 3/26/19 at 2:13 pm to fightin tigers
That is still pretty good.
Posted on 3/26/19 at 2:15 pm to DarthRebel
quote:
You could pay off a $1.5 million dollar house in 3 years at that rate.
Don't ever tell me I am stupid.
Posted on 3/26/19 at 2:17 pm to Janky
quote:
I didn't see any health insurance or dental.
First thing that jumped out at me too.
Posted on 3/26/19 at 2:19 pm to Yat27
quote:
We spend about $500 for two adults, and we buy quality meat and produce.
How often are you dining out, or going to happy hour? I don't want to look at my food/drink expenses, but $500 seems really low to me.
This post was edited on 3/26/19 at 2:20 pm
Posted on 3/26/19 at 2:19 pm to fightin tigers
quote:
Company still matches above that limit as well, so I do what I can to get that too.
The 18-19k (whatever it is this year) is your contribution limit.
The total contribution limit (you + company) is something significantly more. Like 55k or something.
Posted on 3/26/19 at 2:20 pm to OweO
quote:
$18k in charity? Even if they cut back to $15k that's another $3000.
This is probably for the tax deduction
Posted on 3/26/19 at 2:20 pm to Epic Cajun
quote:
How often are you dining out, or going to happy hour? I don't want to look at my food/drink expenses, but $500 seems really low to me.
No shite. I spend close to that a week with 2 children.
Posted on 3/26/19 at 2:21 pm to OweO
quote:
Don't ever tell me I am stupid
Then stop commenting on shite you have no idea about...
For instance, childcare cost.
Posted on 3/26/19 at 2:21 pm to Janky
quote:
That is still pretty good.
, that's an understatement (I know you know that). When you're flirting with that $56k 401k limit, you're in an insane plan.
Posted on 3/26/19 at 2:21 pm to Displaced
quote:
The 18-19k (whatever it is this year) is your contribution limit.
So you are saying I can't put more into my 401k than this?
Posted on 3/26/19 at 2:21 pm to LNCHBOX
quote:It's not outrageous but it can easily be slashed, which was my point.
$500 per person over an entire month. Really not that bad Especially since it would appear this family lives in a place with higher than average cost of living.
Posted on 3/26/19 at 2:21 pm to Gaston
Gaston I don’t know if they told you but bmw stands for “Bisexual Man or Woman”
Posted on 3/26/19 at 2:22 pm to Yat27
quote:
We spend about $500 for two adults, and we buy quality meat and produce.
A month? $250 a month per person on all food. Calling BS on that. Definitely not getting anything quality for that.
Posted on 3/26/19 at 2:22 pm to fightin tigers
quote:
So you are saying I can't put more into my 401k than this?
Not without financial penalties.
Posted on 3/26/19 at 2:23 pm to northshorebamaman
quote:
It's not outrageous but it can easily be slashed, which was my point.
How much can it realistically be slashed?
Posted on 3/26/19 at 2:24 pm to slackster
quote:
When you're flirting with that $56k 401k limit, you're in an insane plan.
I don't get close to this
At least not yet, I guess. I go above what their match is and have a few things on the outside of the plan. Almost to the point of maxing out the HSA every year, but not sold on that being the best idea
This post was edited on 3/26/19 at 2:26 pm
Posted on 3/26/19 at 2:24 pm to Displaced
quote:
Not without financial penalties.
You mean taxes?
Posted on 3/26/19 at 2:25 pm to Displaced
quote:
Not without financial penalties.
Depends.
Posted on 3/26/19 at 2:25 pm to Tester1216
quote:
How to appreciate what they have and that they're far from from living an average life.
I don't know that you can really reach such a psychological conclusion based on the limited information here that they might have told some surveyor that they "felt average."
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