It's that time of year, TAX RETURN TIME!

[DaKCMan AP]

Originally Posted by Rain Man

I looked at my paycheck today, and it it's interesting. About 35 percent of my gross went to taxes and another 17 went to my IRA, so I got home with less than half my gross pay.

Damn... 35%?

After 401k contributions, taxes, medical, LTD & HSA contributions I only take home about 55% of my gross.... but 35% aren't to the government.

[Buehler445]

Originally Posted by DaKCMan AP

Damn... 35%?

After 401k contributions, taxes, medical, LTD & HSA contributions I only take home about 55% of my gross.... but 35% aren't to the government.

You have long term disability?

I'm quite a ways removed from the insurance industry, but why LTD? And why not STD with it? If you don't mind me asking. I'm not criticizing, just curious on the logic.

[DaKCMan AP]

Originally Posted by Buehler445

You have long term disability?

I'm quite a ways removed from the insurance industry, but why LTD? And why not STD with it? If you don't mind me asking. I'm not criticizing, just curious on the logic.

The company provides STD to all employees. The LTD is an additional option.

[Buehler445]

Originally Posted by DaKCMan AP

The company provides STD to all employees. The LTD is an additional option.

Makes sense.

Perhaps I should be looking into that type of insurance since I'm much more likely to need it in my industry than the normal office job, but at this point, I can't justify the cost.

Are you thinking you are protecting yourself against the car wreck/cancer types of risks?

[DaKCMan AP]

Originally Posted by Buehler445

Makes sense.

Perhaps I should be looking into that type of insurance since I'm much more likely to need it in my industry than the normal office job, but at this point, I can't justify the cost.

Are you thinking you are protecting yourself against the car wreck/cancer types of risks?

Any type of long-term risk that would prevent me from working. I travel often, I live an active lifestyle, I sometimes work around large machinery and hazardous material. Anything can happen.

LTD @ 60% of my annual salary if I can't work anymore is worth the 0.4% of my gross salary that's deducted.

[Buehler445]

Originally Posted by DaKCMan AP

Any type of long-term risk that would prevent me from working. I travel often, I live an active lifestyle, I sometimes work around large machinery and hazardous material. Anything can happen.

LTD @ 60% of my annual salary if I can't work anymore is worth the 0.4% of my gross salary that's deducted.

I may have to look into that some. Although it is really difficult to calculate what you need over the long term with inflation. I've got probably 40 more years of work left and I have a hard time calculating insurance that far out.

Maybe I'll just keep bought up on life insurance and have my wife throw me into a driveshaft if I can't work anymore.

[DaKCMan AP]

Originally Posted by Buehler445

I may have to look into that some. Although it is really difficult to calculate what you need over the long term with inflation. I've got probably 40 more years of work left and I have a hard time calculating insurance that far out.

Maybe I'll just keep bought up on life insurance and have my wife throw me into a driveshaft if I can't work anymore.

The 60% is just what's offered through our company LTD option. I'm single with no dependents and, at least right now, 60% of my salary is more than my annual expenses. Once I have a family, dependents, etc. it will all change.

[Mr. Flopnuts]

Originally Posted by DaKCMan AP

The company provides STD to all employees.

With this economy believe me, we're all getting gonnasyphaherpaids.