The Working Budget
last updated: 03 Mar 2018


 

SAVINGS
GOAL:
$600K
OBJECTIVE:
(shooting for the stars)
EARLY
RETIREMENT: $600k  
DEFAULT:
($300k, landing in the clouds)
10
YEAR SABBATICAL @ $30K/YR
GOAL
DATE:
2028
(Labor
Day)
Age
44
GROSS
SALARY:
$89,440
($43/HR)
NET
SALARY:
$67,080
(estimated
at 25% TAX RATE)
SPENDING
BUDGET:
$2,500/
mon
($30K/YR)
SAVINGS
BUDGET:
$3,115/
mon total
(37K/YR)
*Using
the Calculator, this is how much I would need to
invest monthly for 10 years with an annual interest rate of 6%.

 

MONTHLY SPENDING
($2,500/ mon)
SAVINGS
($37k/yr)
Student Loans
$566
Per Pay Period
Annually
Housing, Utilities
$1000
(40%)
Experts recommend 30% = $750
401k
$750/pp
$18,500
Everyday Exp.
Groceries ($200/mon)
Entertainment
Incidentals
·         Gas ($50/mon)
·         Phone ($27/mon)
·         Other
·         Household items ($35/wk?)
·         Cable?
$540
Roth IRA
$229/pp
$5500
Tithe
$250
(10%)
Taxable account
$563/pp
$13,000
Remainder
Unexpected expenses:
·         travel
·         medical/dental
·         car maintenance
·         car insurance ($53/mon)
·         cable, tv subscription
·         home repairs, if applicable
·         family needs
$144

For previous versions, see Budget Struggles.