Originally Posted by
tprangner
60-80K thats not bad. If I can get into the high 80k or low 90k, I will retire as a RE. CA. I could live off of that. My wife's going for her RN, so between both incomes, we can live quite nice.
You can probably live, but how nicely depends on where you live, kids, and what your wife specializes in...
Add up your double income.
Subtract 30%+ for various taxes.
Subtract mortgage and two car payments.
Subtract 15% for 401K.
Subtract out some ADDITIONAL retirement savings (unless your wife is a government employee). Another 5-10%, depending on your circumstances.
Don't forget college savings for any kids...how much depends on your personal philosophy.
You will also need a big cash reserve (10k+) to cover medical problems or reversion to FO pay after your company goes BK. If you think you can work at a regional for the rest of your life and not be subject to whipsaw, furloughs, and liquidation, you're high as a kite
I think the regionals will aways be there, but remember that the whole industry is rigged to dispose of you when you get too senior (and expensive). Unless all the majors decide to go to one-list I don't see this changing.
Now whatcha got left over? Any discretionary money for boats, motorcycles, travel, etc?