Can you afford all these?! [use for questions 6 to 10]: You are successfully out of college for couple of years now, got the job of your dreams, married your soul mate, and just found out you are going to be a parent next month! Could not be a better time to plan your finances. You plan to buy a new house (You cannot wait to start decorating that baby room!), invest in some retirement account (After all, do you want to raise your kids just to have to take care of you because you never saved for retirement?), and maybe think about little one’s future education (You don’t want to seem selfish in that you are only taking care of you while putting your kid’s future needs aside!). Well, the question is, can you afford all these?!
6. [1 point] Assume that, in total, both of you make $100k/annually. Let’s also assume that after tax and all other deductions (health insurance, Social Security, etc), you collectively take home about 72%. What is your monthly family income?
