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URL:  http://boards.fool.com/i-currently-live-on-34-of-my-gross-income-and-i-23653838.aspx

Subject:  Re: Poll: FIRE value as a multiple of gross inco Date:  2/3/2006  12:56 PM
Author:  HobbyDave Number:  3684 of 5068

I currently live on 34% of my gross income, and I save a corresponding percentage (34%), the rest is going to pay taxes, so I had to answer "< 8", but that's quite misleading.

That's a good point. With taxes thrown into the mix, it's very hard to get an accurate calculation of what your actual "take home" is.

However, if your income now is anywhere close to what you're expecting in the future, the tax percentage taken out should be fairly similar. So if I make 80k gross, 55k net, and I want the same pay when I retire, I actually need to be providing myself with 80k of income to offset the taxes. So perhaps taxes do need to be included in some cases.
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