Calculation

[cr]

[quote=UCGal]Just an observation..

I think the days of 3.5% annual increases are gone for the near term.

More and more employers are looking at salary REDUCTIONS.

(Yes, it sucks.)[/quote]

Unless you’re a member of congress. Then it’s 2.8%. http://www.senate.gov/reference/resources/pdf/97-1011.pdf

The sad thing is we pay for their increase despite getting a reduction.

[Aecetia]

That’s why I like Mars Attacks! Classic alien invasion humor.

http://www.imdb.com/title/tt0116996/

[Aecetia]

That’s why I like Mars Attacks! Classic alien invasion humor.

http://www.imdb.com/title/tt0116996/

[Aecetia]

That’s why I like Mars Attacks! Classic alien invasion humor.

http://www.imdb.com/title/tt0116996/

[Aecetia]

That’s why I like Mars Attacks! Classic alien invasion humor.

http://www.imdb.com/title/tt0116996/

[Aecetia]

That’s why I like Mars Attacks! Classic alien invasion humor.

http://www.imdb.com/title/tt0116996/

[temeculaguy]

Turbo tax! The problem with asking what percentage of a new house will be returned to you via tax refund has too many variables. Dependents, other deductions, and ever increasing amount of taxes that you cant develop a formula because taxes gradually increase and certain income levels phase out deductions. Your filing status alone will swing it wildly. Tomorrows state budget vote will change it as well, so will next years.

Here is my simple way to figure it out:

The tax deduction will be equal to the taxes, insurance and maintenance. So figure if you can afford the principal and interest on your current take home pay and the deduction will cover the other three assuming they are normal.

BTW, 450k on 100k income is not affordable unless you put 150k+ down. Never borrow more than 3x your gross.

Don’t let tax benefits cause you to overwhelm yourself with debt, paying $3 to the bank to avoid paying $1 to the government wont make you rich, you will be out $2.

[temeculaguy]

Turbo tax! The problem with asking what percentage of a new house will be returned to you via tax refund has too many variables. Dependents, other deductions, and ever increasing amount of taxes that you cant develop a formula because taxes gradually increase and certain income levels phase out deductions. Your filing status alone will swing it wildly. Tomorrows state budget vote will change it as well, so will next years.

Here is my simple way to figure it out:

The tax deduction will be equal to the taxes, insurance and maintenance. So figure if you can afford the principal and interest on your current take home pay and the deduction will cover the other three assuming they are normal.

BTW, 450k on 100k income is not affordable unless you put 150k+ down. Never borrow more than 3x your gross.

Don’t let tax benefits cause you to overwhelm yourself with debt, paying $3 to the bank to avoid paying $1 to the government wont make you rich, you will be out $2.

[temeculaguy]

Turbo tax! The problem with asking what percentage of a new house will be returned to you via tax refund has too many variables. Dependents, other deductions, and ever increasing amount of taxes that you cant develop a formula because taxes gradually increase and certain income levels phase out deductions. Your filing status alone will swing it wildly. Tomorrows state budget vote will change it as well, so will next years.

Here is my simple way to figure it out:

The tax deduction will be equal to the taxes, insurance and maintenance. So figure if you can afford the principal and interest on your current take home pay and the deduction will cover the other three assuming they are normal.

BTW, 450k on 100k income is not affordable unless you put 150k+ down. Never borrow more than 3x your gross.

Don’t let tax benefits cause you to overwhelm yourself with debt, paying $3 to the bank to avoid paying $1 to the government wont make you rich, you will be out $2.

[temeculaguy]

Turbo tax! The problem with asking what percentage of a new house will be returned to you via tax refund has too many variables. Dependents, other deductions, and ever increasing amount of taxes that you cant develop a formula because taxes gradually increase and certain income levels phase out deductions. Your filing status alone will swing it wildly. Tomorrows state budget vote will change it as well, so will next years.

Here is my simple way to figure it out:

The tax deduction will be equal to the taxes, insurance and maintenance. So figure if you can afford the principal and interest on your current take home pay and the deduction will cover the other three assuming they are normal.

BTW, 450k on 100k income is not affordable unless you put 150k+ down. Never borrow more than 3x your gross.

Don’t let tax benefits cause you to overwhelm yourself with debt, paying $3 to the bank to avoid paying $1 to the government wont make you rich, you will be out $2.

[temeculaguy]

Turbo tax! The problem with asking what percentage of a new house will be returned to you via tax refund has too many variables. Dependents, other deductions, and ever increasing amount of taxes that you cant develop a formula because taxes gradually increase and certain income levels phase out deductions. Your filing status alone will swing it wildly. Tomorrows state budget vote will change it as well, so will next years.

Here is my simple way to figure it out:

The tax deduction will be equal to the taxes, insurance and maintenance. So figure if you can afford the principal and interest on your current take home pay and the deduction will cover the other three assuming they are normal.

BTW, 450k on 100k income is not affordable unless you put 150k+ down. Never borrow more than 3x your gross.

Don’t let tax benefits cause you to overwhelm yourself with debt, paying $3 to the bank to avoid paying $1 to the government wont make you rich, you will be out $2.

[yama]

I would really like to figure out a fancy math formula to put everything together into a spreadsheet for the next 5 years.

The economy is pretty bad and may not get better for the next few months but in my humble opinion it will not exceed 24 months (finger crossed).

When I take into consideration the 3.5% raise every year I am taking into consideration the many good economic years which will follow the downturn we are experiencing.

I remember back when the internet giants and the high-tech industry took a beating after the internet bubble burst only to then eventually get back to normal. See for instance Cisco stock during the period was in the $80.00 per share and within a few months it went well into the 20s per share. Yet they are just as strong out there as when they were in their bubble time.

Nowadays it is a very good idea to invest by yourself on the top of your 401K and IRA accounts. Take a look at: http://nymag.com/realestate/vu/2008/04/45968/ or the one I love: http://www.sharebuilder.com/sharebuilder/Research/Tools/WhatIfIdInvested.aspx

Say 5K to 10K diversified in many different sectors since right now everything is pretty much bottoming out. The question is wait until mid or end 2009? THat is of course up to each of us and our own guts.

When I will do my taxes this year I guess I am going to really start paying a lot more attention to how these things work.

I put only 3% right now into my 401K with a 100% match (max at the 3% I am putting).

When I come up with a dissent calculator I will post it here. I would like to make a little javascript out of this one.

You know I wonder why people haven’t really taken this kind of calculator thinking into consideration. Most people assume home prices will go up and they will not loose their jobs and haven forbids something happens to them. When buying a home I believe you should have something close to 6 to 9 months of your minimum monthly budget put away for to conver this type of disaster.

I am sure though this year San Diego is going to see prices cut another 20% and next year 5% with some superficial ups and down turns.

Riverside: You can negociate a 20% price reduction! LOL

Okay I am just going off and on topic and it is time for me to go take care of my baby boy.

Happy Valentines!
Yama

[yama]

I would really like to figure out a fancy math formula to put everything together into a spreadsheet for the next 5 years.

The economy is pretty bad and may not get better for the next few months but in my humble opinion it will not exceed 24 months (finger crossed).

When I take into consideration the 3.5% raise every year I am taking into consideration the many good economic years which will follow the downturn we are experiencing.

I remember back when the internet giants and the high-tech industry took a beating after the internet bubble burst only to then eventually get back to normal. See for instance Cisco stock during the period was in the $80.00 per share and within a few months it went well into the 20s per share. Yet they are just as strong out there as when they were in their bubble time.

Nowadays it is a very good idea to invest by yourself on the top of your 401K and IRA accounts. Take a look at: http://nymag.com/realestate/vu/2008/04/45968/ or the one I love: http://www.sharebuilder.com/sharebuilder/Research/Tools/WhatIfIdInvested.aspx

Say 5K to 10K diversified in many different sectors since right now everything is pretty much bottoming out. The question is wait until mid or end 2009? THat is of course up to each of us and our own guts.

When I will do my taxes this year I guess I am going to really start paying a lot more attention to how these things work.

I put only 3% right now into my 401K with a 100% match (max at the 3% I am putting).

When I come up with a dissent calculator I will post it here. I would like to make a little javascript out of this one.

You know I wonder why people haven’t really taken this kind of calculator thinking into consideration. Most people assume home prices will go up and they will not loose their jobs and haven forbids something happens to them. When buying a home I believe you should have something close to 6 to 9 months of your minimum monthly budget put away for to conver this type of disaster.

I am sure though this year San Diego is going to see prices cut another 20% and next year 5% with some superficial ups and down turns.

Riverside: You can negociate a 20% price reduction! LOL

Okay I am just going off and on topic and it is time for me to go take care of my baby boy.

Happy Valentines!
Yama

[yama]

I would really like to figure out a fancy math formula to put everything together into a spreadsheet for the next 5 years.

The economy is pretty bad and may not get better for the next few months but in my humble opinion it will not exceed 24 months (finger crossed).

When I take into consideration the 3.5% raise every year I am taking into consideration the many good economic years which will follow the downturn we are experiencing.

I remember back when the internet giants and the high-tech industry took a beating after the internet bubble burst only to then eventually get back to normal. See for instance Cisco stock during the period was in the $80.00 per share and within a few months it went well into the 20s per share. Yet they are just as strong out there as when they were in their bubble time.

Nowadays it is a very good idea to invest by yourself on the top of your 401K and IRA accounts. Take a look at: http://nymag.com/realestate/vu/2008/04/45968/ or the one I love: http://www.sharebuilder.com/sharebuilder/Research/Tools/WhatIfIdInvested.aspx

Say 5K to 10K diversified in many different sectors since right now everything is pretty much bottoming out. The question is wait until mid or end 2009? THat is of course up to each of us and our own guts.

When I will do my taxes this year I guess I am going to really start paying a lot more attention to how these things work.

I put only 3% right now into my 401K with a 100% match (max at the 3% I am putting).

When I come up with a dissent calculator I will post it here. I would like to make a little javascript out of this one.

You know I wonder why people haven’t really taken this kind of calculator thinking into consideration. Most people assume home prices will go up and they will not loose their jobs and haven forbids something happens to them. When buying a home I believe you should have something close to 6 to 9 months of your minimum monthly budget put away for to conver this type of disaster.

I am sure though this year San Diego is going to see prices cut another 20% and next year 5% with some superficial ups and down turns.

Riverside: You can negociate a 20% price reduction! LOL

Okay I am just going off and on topic and it is time for me to go take care of my baby boy.

Happy Valentines!
Yama

[yama]

I would really like to figure out a fancy math formula to put everything together into a spreadsheet for the next 5 years.

The economy is pretty bad and may not get better for the next few months but in my humble opinion it will not exceed 24 months (finger crossed).

When I take into consideration the 3.5% raise every year I am taking into consideration the many good economic years which will follow the downturn we are experiencing.

I remember back when the internet giants and the high-tech industry took a beating after the internet bubble burst only to then eventually get back to normal. See for instance Cisco stock during the period was in the $80.00 per share and within a few months it went well into the 20s per share. Yet they are just as strong out there as when they were in their bubble time.

Nowadays it is a very good idea to invest by yourself on the top of your 401K and IRA accounts. Take a look at: http://nymag.com/realestate/vu/2008/04/45968/ or the one I love: http://www.sharebuilder.com/sharebuilder/Research/Tools/WhatIfIdInvested.aspx

Say 5K to 10K diversified in many different sectors since right now everything is pretty much bottoming out. The question is wait until mid or end 2009? THat is of course up to each of us and our own guts.

When I will do my taxes this year I guess I am going to really start paying a lot more attention to how these things work.

I put only 3% right now into my 401K with a 100% match (max at the 3% I am putting).

When I come up with a dissent calculator I will post it here. I would like to make a little javascript out of this one.

You know I wonder why people haven’t really taken this kind of calculator thinking into consideration. Most people assume home prices will go up and they will not loose their jobs and haven forbids something happens to them. When buying a home I believe you should have something close to 6 to 9 months of your minimum monthly budget put away for to conver this type of disaster.

I am sure though this year San Diego is going to see prices cut another 20% and next year 5% with some superficial ups and down turns.

Riverside: You can negociate a 20% price reduction! LOL

Okay I am just going off and on topic and it is time for me to go take care of my baby boy.

Happy Valentines!
Yama

[Author]

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