SLC Tortfeasor
Recycles dryer sheets
- Joined
- Jun 17, 2005
- Messages
- 233
How much of your gross yearly income do you save?
SLC Tortfeasor said:I see some people actually save more than 60% of their gross incomes. I find that amazing. How do you do it? Do you have extremely high incomes? Live like paupers? Already have the house paid off?
Honkie said:Just polled in the 60% plus category. The precise figure is 64%. Yes we have high income, but importantly, we mostly live well within it.
Cheers
Honkie
TargaDave said:Honkie, So what percentage for taxes and living? That only leaves 36% for both taxes and living expense. Wouldn't "high income" put you in the 33% tax bracket plus all local taxes?
Martha said:Am I full of it?
Martha said:I have this very unscientific feeling that most families can get along in the US with about $50,000 a year in income. I know plenty have less and plenty have more, but $50,000 feels like a nice number to me. You won't be able to live in NY or SF or buy a house in San Diego, but you could get along. I think below that number it is very difficult to save and above that number it gets easier.
Am I full of it?
Martha said:I have this very unscientific feeling that most families can get along in the US with about $50,000 a year in income. I know plenty have less and plenty have more, but $50,000 feels like a nice number to me. You won't be able to live in NY or SF or buy a house in San Diego, but you could get along. I think below that number it is very difficult to save and above that number it gets easier.
Am I full of it?
Honkie said:Just polled in the 60% plus category. The precise figure is 64%. Yes we have high income, but importantly, we mostly live well within it.
Cheers
Honkie
Honkie said:Well spotted HKMike!! (my handle isn't quite as obvious as yours).
Should we let the others know that local taxation means that our net is a minimum of 83% of our gross??
Cheers
Honkie