Graduated, Moving to Real World - Expenses?
at F500 developmental program
correct me if wrong:
+Relo Bonus (taxed onto salary) - signing bonus is taxed at cap ex +salary -401K contribution =total taxable income
expenses -Fed -State -Local -Fica monthly expenses (annualized) -rent -gas -car insurance* -cell phone (personal phone not company) -food -misc.
am i forgetting shit? * only first year because I get company car after the program
You forgot health insurance, comes out (sometimes) before taxes. Also unless you're a moron, you're going to want to set $5,000 aside for an annual after-tax Roth IRA contribution until you reach the maximum income threshold (phases out between $107,000 and $122,000).
And then u can lower ur AGI by maxing out 401k (16,500)
That "misc" category is going to murder you. Seriously, when you move into where ever you will have to buy all this stuff you never thought about before: shower curtains, forks, dishwashing liquid, shoe sign, tools for random handiwork that needs to be down.
Things add up quickly and you never see them coming.
utilities(gas, electric, water/sewer) cable/internet
condoms
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