Even my state and the feds define my income differently. Do I give one of those answers, or a different one?
Those who don't know how to disable their own auto-correct probably would have more problems if they did than if they didn't....
For most ordinary working stiffs and pensioners, yes. For people with resources beyond wages, pensions, entitlement benefits, etc., it doesn't remain simple or straightforward.
The question and answer may be straight forward, but the interpretation of the answer can easily be skewed one way or the other. Person A: "I make $100,000 a year" Person B: "Man! You're rolling in the dough!" Person C: "How on Earth can you survive on that kind of income?!"
and there it is. If someone reads that OP question and it takes them more than 2 seconds to have a number in their head, then the question isn't the problem, the reader is the problem....and is very likely someone who creates more drama and heartache for themselves than they need to.
I make $20,000 a year. (I also have a million dollars in CDs and that's what I make each year off of interest at about 2% per year).
7% APY index fund. Now I make $70,000 a year. Like I was saying. People can skew statistics anyway they please. This is why I can't watch anything with politics on either side, they take the same statistics and make the statistics conform to their predetermined philosophies. The statistics so far say that the median Prius Chat forum member makes just under $40,000 per year. Which proves what??? I ugess anything you want it to prove.
As a managed asset if I disable auto correct it comes back in about an hour, I refuse to have 2 phones.
the Gordian Knot is an Ancient Greeklegend associated with Alexander the Great in Gordium in Phrygia, regarding a complex knot that tied an oxcart. Reputedly, whoever could untie it would be destined to rule all of Asia. In 333 BC, Alexander was challenged to untie the knot. Instead of untangling it laboriously as everyone expected, he dramatically cut through it with his sword. KISS. Hint: don’t calculate an answer with more accuracy than the multiple choice answers. Bob Wilson
Considering how much this ? has been beaten about, surprised no mention of the obvious. There is no time period. Sure you can assume 12 months zzz.
Hint #2: for some people, that still doesn't narrow it down to just one or two of the multiple choice answers. Before spouse reached age 70 and filed for Social Security and pension, my household could have selected a federal AGI to hit any of those boxes. Now, while I'm not yet collecting, we can still choose to pick among most of the listed choices. A good long history of disciplined savings and investments can allow early retirement and a de-linking of annual budget from "income". Having paid attention to lessons from and habits of Depression-era parents and grandparents was helpful. Having a mother who was suddenly widowed with several small children, in an era when women still had few decent career choices, provided more lessons. Later becoming part of an agricultural household, where variable weather and commodity prices produced wickedly variable income, provided even more incentive to achieve financial independence.
rjparker in #28 suggested using Federal AGI. So, did everyone who participated in Bob's poll who receives Social Security remember not to include any of that (or only as much as appeared on line 6b, if nonzero)?
Rules are changing, 401k’s and other investment vehicles are getting federally legislated into automatic investments to ai, crypto, tokenization, digital assets, at which point it will be a fight to keep them out of said things. said vehicles in the last year have been getting locked down making it difficult to for many to close them out. Many want to close them out because most invested in the stock market and other adjacent investments are not actually keeping up with real inflation. The typical advice in the new world where the currency is exiting reserve status and fed bond sales are failing is not sound advice. Most everyone is going to get a haircut, those who get their money stuck in formerly accessible vehicles that were formerly easy to remonitize will be screwed in the apparent new environment where you can’t exit. legalized theft is becoming the order of the day. Of the assets the bank should be the easiest to get $$$ out besides physical cash. Gold, silver and copper guys may find themselves facing lots of unwanted interference in the near future as well. people who claim the graph below represents a good opportunity to make $$$ are also guilty of bad advice.
