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Old 04-15-2015, 03:34 PM   #21
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Originally Posted by audreyh1 View Post
I did not use my taxable income. I used my actual spending versus federal income taxes paid for 2014.
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Old 04-15-2015, 03:36 PM   #22
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Join Date: May 2011
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No earned income; all investment.
14% Federal and State taxes
30% spent
56% reinvested
We had to sell some of former employer stock at a record valuation to diversify and reinvest.
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Old 04-15-2015, 04:05 PM   #23
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Originally Posted by audreyh1 View Post
For 2014 it was 40% Federal income taxes and 60% other spending.

I must be misinterpreting this Audrey....... Are you saying that your Fed income tax bill in 2014 was 0.4 X Gross Income? That would seem higher than possible.

If not, what is the 40% Federal income taxes you state?


Edit. Never mind. Just finished reading the entire thread and got to your explanation of how you're doing it.
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Old 04-15-2015, 04:15 PM   #24
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11.45% State and Federal taxes (based on AGI)
Spent the rest (except 401k contributions not included in AGI)
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Old 06-23-2015, 09:18 AM   #25
Confused about dryer sheets
 
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Perhaps this will make you feel better :-)

Taxes (incl Fed/State/Local/Medicare/FICA): 35%
Spent: 5%
Saved: 60%

(Gross income included some unusually high cashed in stock options)
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