Old 07-26-2018 | 04:15 PM
  #4563  
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Locke
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Joined: Feb 2011
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From: Licking the window
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Originally Posted by Geezer
You will never "make" that. Here's why:

Assume your gross earnings for 2018 are $300,000 and you are under 50 and contribute the maximum of $18.500 to your 401K.

300,000 - 18,500= 281,500

281,500 is your taxable amount

Federal Taxes (Married Filling Jointly) - 50,379
(This rate expires in 2024)
Social Security-7,960
(Cap amount at the present time)
Medicare Tax/Surtax- 5,355
(There is no Cap on Medicare)
State Income Tax- ?

You only "made" 236,306 less any State Income Tax

If you reach the 12 year pay by the amendable date and the next Contract takes 5 years to negotiate you must take inflation into account. Subtract about 9,000 for a 5 year window.

https://www.usinflationcalculator.com/

Math is hard, arithmetic doesn't have to be.

After my nap and cookies and milk I'll be doing the arithmetic that demonstrates how much a 10% non-taxable employer match is worth.
That was an awful lot of work to say you pay taxes and then you die.
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