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Max out a 401k and IRA and lmk how much is left
(less than 8k/mo)
What does that have to do with living costs?
Because you can't work forever. Burnout, aging, illness, etc. Life happens. Or do you plan to live paycheck to paycheck into your 70s?
Again, that's separate from living expenses. In my personal example, I am maxing out my retirement accounts, but those amounts are not counted as part of my family's annual cost of living.
I'm just thinking about the "take home" figure! 160k doesn't stretch as far as I thought it did when I was a kid
I thought $40k was more than enough when I was a kid. But that was when you could buy a house for $30k to $50k. By the time I hit my 20s, inflation already had homes at closer to $100k, and the cost of everything much higher than when I was a kid.
When I was growing up I didn't know anyone making more than $50k, most made less, and they were doing fine, owning homes, etc. $160k was wealthy.