3 ms·
400k- taxes = 270k for joined filing Monthly expenses = 3k mortgage+ 500 property taxes + 2k daycare for one child(or 529) + 1.5k for food and other = 84k Wit
by hdhdhdd 7y ago
400k- taxes = 270k for joined filing
Monthly expenses = 3k mortgage+ 500 property taxes + 2k daycare for one child(or 529) + 1.5k for food and other = 84k
Without compounding interest you need 10 years to get 2m, and these salaries are for 5+ or more years of experience. (And you need down payment, etc.).
Living in those areas is expensive.
If you are making 500k, that's a different story :-)
- aiiane 7y agopeople never factor in healthcare into this calculus.
- hdhdhdd 7y agoYup, I forgot about it. 7-8k max out of pocket (in-network) for family. In some companies there is also some payment for the health plan out of pocket. But the diff here is that on HSA plans the out of pocket comes before taxes.