FIRECALC - "Spending" column question
I just started looking at numbers with FIRECALC. I know this is a stupid question but let me ask anyway...
On the first page, you enter
For Spending:, I read somewhere here that you enter how much you want to spend in one year (including taxes).
My annual living expenses is currently about 42K-45K (single). The 42K-45K does not include savings or healthcare. Just bare bone housing, household expenses, vacation and discretionary items. And it doesn't include taxes. Let's say I want to spend 55K /yr once I retire (up 10K-13K from what I am spending now). How do I calculate the "Spending" with taxes? Do you just add 30% to 55K to get the spending number?
Of course, taxes will change depending upon what bracket, what year, which state you live in, etc, etc, so I just don't know how much I should put there. Any rule of thumb to figure out the numbers?