Quote:
Originally Posted by gatorfast
$125k will get you nowhere near $7.5k/mo of discretionary income unless you consider the entire take home pay discretionary.
|
125K and maxed out (assume 16%) to 401K leaves you at about 105K.
Take 105K and subtract out (assume 28% income tax for single guy) leaves about 76000. That's 6300 a month. Not seeing how he has so much discretionary money each month. Live with parents and they pay all the housing bills? Give him an allowance on top of his income?