Anonymous User wrote:DportIA wrote:Anonymous User wrote:Anonymous User wrote:Anonymous User wrote:$71,000 exactly twelve months in. I maxed out 401k and IRA during my stub year, and have maxed out 401K and IRA for 2016. I have about $24k in taxable at this point.
How are you maxing IRA? Also, are you in Texas? That's a crazy amount put away.
Yeah, just rough calculation but it looks like that means having only roughly 25k in expenses over 12 months.
Apologies, that $71k counts all vehicles (bank emergency fund, 401k, IRA and taxable investment accounts). My expenses are $1k/mo in rent, and then $1,500-2,000/month in discretionary spending, which leaves about $7-8k a month to do whatever with. I have chosen to save it. Chicago.
Interesting, CA market paying firm and I get $8,200 a month (after 401k deduction and healthcare). So you're saying you get like $9,500-$10,500 a month? Are CA taxes that high?
So I am probably a paycheck rarity. I maxed out my 401k and IRA in January/February, so my paychecks now only have $200 pre-tax health insurance deducted, so I get between $9,700-10,200 monthly direct deposited (higher end once the SS limit is hit around $118k of compensation). IL having a relatively low 0.0375 income tax helps.