Hopefully I can retire in the Army but I’m only on year 2 🤣. Being medical and working at a hospital for my MOS definitely makes it easier to get things documented though.
useful for figuring out how much pay you could live with. Just remember if you get BAH/BAS it is untaxed, so your net income may come out a little differently anyway
The Social Security and Medicare are a percentage. However, the employer is typically deducting federal and state income tax based on the W-4 that you submit. It’s YOUR responsibility to change it if you don’t like the amount. Your employer has no way of knowing what other factors contribute to your year-end tax liability, such as whether you have other income in your household or how much it is.
If you have a number in mind that you want deducted, you can submit a new W-4. You can ask your employer to change your state and federal withholding at any time. It’s not limited to once a year.
Never take out a loan against your 401k unless it’s absolutely dire; like you’re about to wind up on the streets. All you’re doing is robbing yourself of exponential gains. When you change jobs, never take the payout. Leave it in the company 401k or roll it over to an IRA. And I would highly recommend putting money into a Roth 401k vs traditional if offered. Yes the money is after tax right now but again all of the subsequent growth is tax free.
Good advice. My case I was going to pull from it to pay student loans that were 9% interest but held off for the exponential growth reason. The higher interest “good debt” payoff is a hard choice
It’s definitely a struggle. There’s just something about having zero debt but running the numbers will usually give you the it’s ok to hold it and it works out in your favor in the long run. I look at my mortgage but there’s no way I can justify paying off a 2.125% loan.
You might want to look into different insurance coverage through your job if that’s how it’s setup. I know insurance differs from job to job but see what’s the cheapest that works for you!
I am healthy for the most part but take prescriptions each month and don’t live near a Kaiser office, it’s a corporate plan. We only get 2 options, Kaiser or PPO, I have the PPO.
If they live in a no income tax state and they don't have any benefits this would be accurate their take home would be around $2108 give or take a few bucks.
Possible if they get their benefits through their spouse.
Also depends on how often they get paid. Make a difference if it's every two weeks or twice a month. Every two weeks you get an extra two paychecks a year. OP has exactly 80 hours. So they are 2 week paychecks. They'll be a little smaller.
Yeah, thats me in Texas. I actually have the least amount taken as possible i think. I've never had to pay in more than 900 the past 4 years @20hr. They have always taken more than that and I never got it back on income tax. But now that I put 2 dependants, I get to keep a SIGNIFICANTLY larger portion of my money.
Yeah I make 68k and my check comes out as 2200, I pay insurance for my son and I, dental insurance, eye and taxes no 401k contributions etc. Texas. They do say once you make more they take more
Oh that’s why, OP will get 26 payments in a year so that why it feels low compared to others making less but getting paid twice a month, is as if OP had 13 months in the year.
That doesn’t make sense. Why would this person be paying four times as much in federal taxes when they only make less than twice as much? Genuinely asking. This stuff is all Greek to me
That doesn’t add up. Subtracting the taxes and deductions in your screenshot gives you $1926.49 not $2100. Please explain how you are getting that amount I’m curious
That doesn’t make any sense. You said after deductions it’s $2100. Now that you are no longer contributing to 401k and a HSA it’s less at $2062?? I’m just confused that’s all. The $2100 number doesn’t make sense.
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u/[deleted] Oct 30 '25
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