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this post was submitted on 16 Aug 2025
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$160k / 12mo. ≈ $13k / mo.
You threw away $100k annually, chum.
First, thank you for pointing out I made a mistake. I didn't see the calculator broke it into twice a month paychecks.
Take home for one month for $160k/year would be: $8,784
I'll correct my post, but $160k/year is still way too low to meet your “That much per person would give any household a very comfortable lifestyle even in a HCOL area.”
You're taking out too much tax. Closer to $9,300.
A household of two adults would have $320k gross annually, so twice that.
Also, I'm comfortably supporting two adults in a HCOL area, with a mortgage and high medical bills, for under $125k annually.
You don't think that's moving the goalpost just a bit by doubling the number of earners?
I'd be interested to hear how you're accomplishing that. At a minimum, can I ask what your housing costs are?
I changed nothing about my original comment. I said per person, not household.
Mortgage payment is currently $5,500 / mo. Note that this is not an income of $125k annually, but net expenses as recorded over the past few years.
*Single people need not apply
Max out a 401k and IRA and lmk how much is left
(less than 8k/mo)
What does that have to do with living costs?
Because you can't work forever. Burnout, aging, illness, etc. Life happens. Or do you plan to live paycheck to paycheck into your 70s?
Again, that's separate from living expenses. In my personal example, I am maxing out my retirement accounts, but those amounts are not counted as part of my family's annual cost of living.
I'm just thinking about the "take home" figure! 160k doesn't stretch as far as I thought it did when I was a kid
I thought $40k was more than enough when I was a kid. But that was when you could buy a house for $30k to $50k. By the time I hit my 20s, inflation already had homes at closer to $100k, and the cost of everything much higher than when I was a kid.
When I was growing up I didn't know anyone making more than $50k, most made less, and they were doing fine, owning homes, etc. $160k was wealthy.
[Citation needed]
I cited my source for the taxation in my post above as well as the rate. Feel free to cite yours for discussion.