MY WORKING BUDGET

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
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.

Comments

Popular posts from this blog

Review | 3 Free Spreadsheets You Might Want To Try

What No One Tells You About Managing Your Aging Parents' Finances

Why Yes, This Is My $300,000 Student Loan Repayment Plan: REPAYE 2018