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madville

(7,847 posts)

11. Not nearly enough

Sun Jun 16, 2013, 01:01 PM

Jun 2013

$100,000 doesn't go that far at that level. After federal and state taxes, Social Security (he's self employed so he pays the full 12%), and Medicare he was probably taking home $60,000 net.

$40,000 in house payments a year is 2/3 of his net pay. Way out of whack, so he had $20,000 a year left over for a family's food, healthcare, utilities, household maintenance, vehicles, fuel, clothing, etc, etc.

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