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They mention not wanting to pay more than 30% of their budget to mortgage costs, which they stated with “$5,000 being 50%”, which means their real adjusted income is closer to $120,000, not $250,000.
It’s entirely possible that after about 30% effective tax, they’re left with $175K net and set aside $55K for savings (retirement, college, etc).
It’s entirely possible that after about 30% effective tax, they’re left with $175K net and set aside $55K for savings (retirement, college, etc).