LOK

原帖由 SAZABI 於 2008-5-26 16:34 發表


hee... the tax rate above 100k for sure is not 30% or "~30%"

I believe they were talking about $180,000 take home...
from what 大C姐 said "mortgage不應多過收入既三份一(30%-$35%)﹐如果你每月供$5000mortgage即係話你應該有$15000收入﹐又即係年薪$180﹐000"

If $180,000 before tax... this person might take home less than $100,000 a yr.

快樂牛郎

Just find a job that pays you 180K.

Before then, stop dreaming.

katamari

原帖由 快樂牛郎 於 2008-5-26 16:56 發表
Just find a job that pays you 180K.

Before then, stop dreaming.

做高級鴨可能有18萬cash添！

Ultraman

原帖由 B2L2 於 2008-5-26 16:30 發表
Sorry, not 1.8M.  Got myself confused.  

Ignoring tax?  Consider he pays ~30% tax, his yearly income has only $126k.  Without spending 1c, he could save up to $630k in 5 years.

That's why I said "igoring tax, inflation and raise of salary factors" ar mah. If I am currently earning $180,000 already (net, not gross), I won't expect my future years would just earning the same lor! Moreover, also depends on what kind of "house" you're looking for. To some people, $660,000 could be a more-than-satisfied home; but there are some houses over $5,000,000 or $10,000,000 which $180,000 net annual income is not even close to buy a bathroom!

B2L2

原帖由 SAZABI 於 2008-5-26 16:34 發表


hee... the tax rate above 100k for sure is not 30% or "~30%"

People are paying 26.7% when making $100k.  I'm not rich enough to know what's the average tax rate is when one make $180k.
http://www.loyaukee.com/forum/vi ... p;extra=&page=1

Now back to my day dreaming for the $180k job.  After working for 10years in Canada, the only way to keep your salary increase in a good rate is by switching jobs consider you are in the right business.  Most people (in another topic) said they only have < 5% raise every year.  I don't know how I could reach the $180k job.

[ 本帖最後由 B2L2 於 2008-5-27 08:42 編輯 ]

SAZABI

原帖由 B2L2 於 2008-5-27 08:30 發表


People are paying 26.7% when making $100k.  I'm not rich enough to know what's the average tax rate is when one make $180k.
http://www.loyaukee.com/forum/vi ... p;extra=&page=1

Now b ...

oh yes, you are right.  I was using the amount withheld to do the calculation.  (but actually i got refund at the end of the year)

Ultraman

Another thing is, the $180,000 might not necessary be "salary only" income. It could be basic salary, side business, plus investment too.

B2L2

I think we are going quite OT.

Original post is about:

"it seems that if both people (a couple) are earning equally, they will have to take in 100k per year AFTER TAX in order to live relatively comfortably....
how can a couple achieve this????"

I know if I'm making $180k a year, I shouldn't need to worry too much to achieve a certain comfort level.  Definitely not luxury but should be able to afford a house, a car but still working my ass off to keep that cash coming.

katamari

At first point I guess most people has agreed on the numbers posted by celeron_266 was way higher than the term "living cost". I don't think we're OT, it's just we're having different definitions of "living cost".

Ultraman

Well, I also don't think we're OT, since we're still on track for related issue, and I agree on katamari that everyone's "living cost" or "minimum living cost" is different. If you want to know what is "minimum", let me tell you point by point:

mortgage: 250k principle, 6% interest, pay off in 5 years (i dont want to work my whole life just to pay off the house):  5k per month = 60k per year
To pay off a mortgage within 5 years is what a beautiful dream, which is not too possible to "general public" anyways. So, unless you are those "minority", stop dreaming that way la.

car:  2 cars, $500 monthly for each = 12k per year
Nope. Many couples only have one car in the family, or some even have no car at all (maybe only bikes). Don't ask how they can live without a car, they still survive and enjoying their lives.

car insurance:  2k per car = 4k per year
Need to pay nothing if they don't even have a car, or pay about half for only one car.

gas:  $300 per car per month = 3.6k per year
Again, pay less proportionally if you only have one or no car.

utilities (natural gas, water, electricity):  2.5k per year
All depends on one's habit. Cost could be various.

phones (one landline, two cell phones), internet, tv:  ~$180 per month = ~2k per year
Many couples don't have a landline but cell phones, some the other way round. Free internet in many stores, no TV cable.

medical:  $100 per month = 1.2k per year
This could be the only part that can't get rid of.

food:  ~$1000 per month = 12k per year
For $1000 per couple per month, not much dine out anyways. But some couples could really spend less than that.

so minimum a couple have to earn ~ $97.3k a year just to support themselves...
So, this could be debatable. What is the standard of "just to support themselves"? You know, standard of "minimum cost for comfortable living" varies to different people. But the very basic cost to "maintain life" could be very low. If you want to have a much better future but at the same time to have a "comfortable current living", honestly either you are a bit too greedy or your current income is plenty enough. Or else, you have to pay certain price to sacrifice your current standard of living ga la!

if you want to help your parents (both sides 2k a month = 48k per year), that will be $145.3k per year!!!
Many couples can't afford to pay their own debt as well as to give money to their parents. This is just a very ideal thought, which to be honest again, either you are a bit too greedy or having plenty income.

and remember...this is the minimum living costs...no incidentals (occasional traveling, shopping) added...
Of course, gals could spend thousands on handbags and guys on gadgets. Despite that, "minimum living cost" is said various as above.

if kids are present...the costs will increase again...
If a couple can't even support their own life, shouldn't even think of kids la.

Now, tell me how much "minimum" do you need?

[ 本帖最後由 Ultraman 於 2008-5-27 13:14 編輯 ]