{ "media_type": "text", "post_content": "What's your NIAT as a percentage of your gross income in a year?\n\nMy wife and I are looking at ~18% (on $250k of income) while maxing out both of our 401ks. We own a home in the Midwest, have 2 vehicles, and will be making payments on $50k in student loans (once the pause is ended). Having our first child this fall so I'm really over analyzing our finances.", "post_id": "62897d25e9bb9b003141fb0d", "reply_count": 9, "vote_count": 4, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
null

What's your NIAT as a percentage of your gross income in a year?

My wife and I are looking at ~18% (on $250k of income) while maxing out both of our 401ks. We own a home in the Midwest, have 2 vehicles, and will be making payments on $50k in student loans (once the pause is ended). Having our first child this fall so I'm really over analyzing our finances.

funny
Posting as :
works at
You are currently posting as works at

Edit: Ah, NIATE

Anyway, here's mine with a very similar situation.

Own a home in the Midwest, 2 cars, very small amount of student loans, and no kids. Standard deductions, no itemization.

TC - 260ish
NIAT - 200 ish
Annual spending 50-60k
Savings (combination of maxed trad 401k, IRA, HSA, and Aftertax) - 140-150k a year

likehelpful

No worries, my answer is still valid then.
Møre details for actual what we do with savings

401k : 40k
IRA : 12K
HSA : 7300
Aftertax : 80-90k roughly

helpful

Sorry, just realized I missed a letter. Meant to put Net Income After Tax and Expenses.

What you do after that, put it in savings or something else, is what I'm focused on.

like

Open a 529 now. I opened ours when my daughter was born but no reason I couldn’t hVe done it sooner. You can just wait to add the SS# to make your kid the new beneficiary when ready.

helpful

Unless you need cash your net savings is a more interesting number.

Ah whoops, meant to put NIATE to include expenses in that math.

$13k per month. Use BofA to track

I make 110k, wife stays at home, have 2 kids and a mortgage. I put in my 6% to 401k to max out match, other than that we try to add at least $100-200 to savings for emergency use, but have had to dip into it a few times, currently sitting at about $2k in our savings account though

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