Personal Investments • Should we keep working?

Income:
Her: $160k, him: $180k

Between tax sheltered and taxable, we save about $160k yearly. This includes company matching.

Our after-tax expenses have run $70-75k the last few years.

Grump99,

1) How much is the company matching every year.

2) Gross income = annual expense + annual savings + taxes

340K = 75K + 160K + taxes

Taxes = 340K - 75K - 160K = 105K? -> Too much.

3) I think your annual expense is much more than 75K per year. It is probably in the 100K to 120K per year range depending on your answer to (1).

KlangFool

My employer matches 8% and and my wife's 5%. We looked at our checking account statements to determine expenses, since all expenses go through there eventually. We are pretty sure that's what we've been spending but can double check.

Maybe we are saving more than we think. We don't keep close track of our saving to be honest. We just dump all extra funds into taxable account. Any discrepancy probably falls on the saving side.

Will investigate this more closely. Thank you.

Statistics: Posted by Grump99 — Fri May 24, 2024 11:59 pm — Replies 11 — Views 1228

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