Your Annual Income (After Tax)

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Forums › Finance and wealth management › Your Annual Income (After Tax)

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JimmyH

2886 posts

Uber Geek

#799792 15-Apr-2013 18:36

sonyxperiageek:

Hi, I respect your privacy there, all I was trying to figure out is 'how much' income would be a "good", "enough" lifestyle in the future, plus stuff (after all the expenses have been paid) that I/We want e.g gadgets etc..

In that case finding out what other people earn is pointless. The way to answer that question is to do a budget - draw up a list of your needs, the gadgets and lifestyle you want, and put costs against these. Add a contingency. That, and only that, will tell you how much income you need for the lifestyle YOU want for yourself.

johnr

19282 posts

Uber Geek
Inactive user

#799796 15-Apr-2013 18:51

I work for @SteveBiddle he pays 10 grains of rice per day and 1 cup of water every second day if I wash the @Biddlecorp limo

khull

1245 posts

Uber Geek

#799809 15-Apr-2013 19:20

johnr being modest :)

mudguard

2119 posts

Uber Geek

#799822 15-Apr-2013 20:00

$38,580. Less student loan, 8% kiwisaver, company super, and tax.

I think my monthly commission is taxed now at 53%.

networkn

Networkn
32354 posts

Uber Geek

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Trusted

Lifetime subscriber

#799825 15-Apr-2013 20:10

johnr: I work for @SteveBiddle he pays 10 grains of rice per day and 1 cup of water every second day if I wash the @Biddlecorp limo

Do you have to wash the limo with that same water before you are allowed to have it?

If not, then consider yourself lucky, if you worked for me, I'd certainly expect you to recycle that water and the two days off I'd give you, I'd expect them to take them after hours and in weekends if I ever let you have any! :)

JimmyH

2886 posts

Uber Geek

#799833 15-Apr-2013 20:25

johnr: I work for @SteveBiddle he pays 10 grains of rice per day and 1 cup of water every second day if I wash the @Biddlecorp limo

Cue the obligatory Month Python impersonations:

"TEN grains of rice, Aye LUXURY. I remember when had ta' walk ten miles tru' snow for a handful of gravel, and thout' I were lucky ta' get it"..........

mattwnz

20164 posts

Uber Geek

#799839 15-Apr-2013 20:38

JimmyH:
sonyxperiageek:

Hi, I respect your privacy there, all I was trying to figure out is 'how much' income would be a "good", "enough" lifestyle in the future, plus stuff (after all the expenses have been paid) that I/We want e.g gadgets etc..

In that case finding out what other people earn is pointless. The way to answer that question is to do a budget - draw up a list of your needs, the gadgets and lifestyle you want, and put costs against these. Add a contingency. That, and only that, will tell you how much income you need for the lifestyle YOU want for yourself.

You forgot about savings of some kind. eg cash, equities or property

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sonyxperiageek

2959 posts

Uber Geek

Trusted

#799844 15-Apr-2013 20:43

JimmyH:
sonyxperiageek:

Hi, I respect your privacy there, all I was trying to figure out is 'how much' income would be a "good", "enough" lifestyle in the future, plus stuff (after all the expenses have been paid) that I/We want e.g gadgets etc..

In that case finding out what other people earn is pointless. The way to answer that question is to do a budget - draw up a list of your needs, the gadgets and lifestyle you want, and put costs against these. Add a contingency. That, and only that, will tell you how much income you need for the lifestyle YOU want for yourself.

That's the thing. I don't know what the costs are for my Future. Just interested in everybody elses'.

:)

Sony

mikebails

97 posts

Master Geek

#799980 16-Apr-2013 07:59

sonyxperiageek: That's the thing. I don't know what the costs are for my Future. Just interested in everybody elses'.

:)

Something else to consider - things won't cost what they do today in years down the track. I recall when I first entered the workforce in 2001 I could buy a decent 3 bedroom house for ~$200k. That same house is now pretty much double. What will it be in 10 more years?

Also, filling up my car in 2001 only cost ~$60 and now would cost ~$110...

So really, you should work on % of income to costs. My breakdown is something like 35% on house, 25% on food/bills, 8% on debt, 12% on entertainment/fun and 20% in savings.

khull

1245 posts

Uber Geek

#799988 16-Apr-2013 08:11

People would probably share the info more readily by providing their income distribution

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