• Page :
  • 1
  • Text Only
Voting History
rated:
As i graduate college and get ready to start my new job, i was just wondering if anyone would have a good idea of how much money i would get per month or every 2 weeks so i can start planning out my finances. I live in Denver, Colorado

Annual Income-45,500
Single-no children
no interest to deduct.

I get paid every 2 weeks, so does anyone have any idea how much i would make every 2 weeks after all taxes, SS, etc..? thanks!!
Edit by Moderator: Thank you for participating in the forums. However, this topic has been covered in a recent post Here.

Member Summary
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Thanks for visiting FatWallet.com. Join for free to remove this ad.

The HR dept will tell you how much you will take home, exactly to the penny.

Why would they deduct interest from your paycheck? Interest on what?

Yeah i wasnt thinking, i was just getting confused on when i file my taxes and deduct interest etc.. I wont find out for a few months, so any ideas? So i have no idea what the norm is for how much they withhold


READ what others have posted. They ALREADY know the exact amount. Call them and ask what it will be before any voluntary deductions you make.

Unless you already know how much medical dental vision 401k FSA commuter benefits etc etc are thats as good as you are going to get. These costs are going to be specific to what your company offers so don't ask us. Just know it will be less than the number HR gives you.

Zan86 said: Yeah i wasnt thinking, i was just getting confused on when i file my taxes and deduct interest etc.. I wont find out for a few months, so any ideas? So i have no idea what the norm is for how much they withholdThey will withhold however much you tell them to withhold, based on the exemptions you claim on your W-4 form. The IRS has a withholding calculator that can help determine how many exemptions to claim:
http://www.irs.gov/individuals/page/0,,id=14806,00.html

The ideal situation would be having to pay the IRS a little at tax time, meaning that not enough was withheld from your paycheck.

1) Contribute as much as you can to a 401K and IRA. That will keep the taxman down a bit, and put you on the path to a nice retirement.

2) When going out to party. pre-drink.

And welcome to the wonderful world of legalized rape.

clampuke said: Paycheckcity Salary Calculator.

Just what i needed!! thanks!! Crazy that like 33% of my paycheck is gone

Zan86 said: clampuke said: Paycheckcity Salary Calculator.

Just what i needed!! thanks!! Crazy that like 33% of my paycheck is gone


Don't let that bother you, you worked hard in college. You deserve a nice new car, a nice plasma TV, and new furniture. GO GO GO and stimulate that economy.

In all seriousness it is good that you are planning ahead. Create a reasonable budget and stick to it. To minimize taxes, contribute as much as possible to 401k/IRA and see if it is worth your time to itemize your deductions (which can save you a lot of money depending on what you are using your money for).

Expect 7.65% to be deducted for SS and Medicare taxes, plus:

- Federal Income Taxes (varies based on exemptions claimed and taxable income)
- State Income Taxes (varies based on above)
- Medical/Dental Insurance Premiums
- Flexible Spending Account contributions
- 401(k) contributions
- ESPP contributions
- Any other work deduction or charitable contribution that can be arranged through your employer

As has already been said, you'll need to contact your HR rep to get all the details.

If i was to setup a Roth IRA through Vanguard. Does that money come directly from my paycheck pre tax? or would they just transfer a set amount each month from my bank account? if that makes any sense

Zan86 said: As i graduate college... i was just wondering if anyone would have a good idea of how much money i would get per month or every 2 weeks..

Scary. Really, really, scary.

Zan86 said: If i was to setup a Roth IRA through Vanguard. Does that money come directly from my paycheck pre tax? or would they just transfer a set amount each month from my bank account? if that makes any senseYou would fund your Roth IRA on your own, post-tax. A good strategy for retirement savings allocation would be to max out your 401(k) company match, then max out your Roth IRA, and put the rest in your 401(k). Don't forget to diversify the holdings in both your 401(k) and your Roth IRA.

jayK said: Zan86 said: If i was to setup a Roth IRA through Vanguard. Does that money come directly from my paycheck pre tax? or would they just transfer a set amount each month from my bank account? if that makes any senseYou would fund your Roth IRA on your own, post-tax. A good strategy for retirement savings allocation would be to max out your 401(k) company match, then max out your Roth IRA, and put the rest in your 401(k). Don't forget to diversify the holdings in both your 401(k) and your Roth IRA.

Yeah i need to figure things out. I will definitely max out both of those. I dont live an expensive life style. My biggest expensive would be a car payment ($300 a month). I am working for the federal government and they have something called a thrift savings plan. (http://www.tsp.gov/index.html)

Zan86 said: jayK said: Zan86 said: If i was to setup a Roth IRA through Vanguard. Does that money come directly from my paycheck pre tax? or would they just transfer a set amount each month from my bank account? if that makes any senseYou would fund your Roth IRA on your own, post-tax. A good strategy for retirement savings allocation would be to max out your 401(k) company match, then max out your Roth IRA, and put the rest in your 401(k). Don't forget to diversify the holdings in both your 401(k) and your Roth IRA.

I am working for the federal government and they have something called a thrift savings plan. (http://www.tsp.gov/index.html)


The greatest minds of a generation working for the government! Our tax dollars at work.

When you get your first paycheck, that should be a pretty good estimate of what you'll be getting for take-home pay.

Zan86 said: clampuke said: Paycheckcity Salary Calculator.

Just what i needed!! thanks!! Crazy that like 33% of my paycheck is gone


Not picking on you Zan86.... picking on MOST college students in general ( )

Its amazing that college graduates aren't taught ANYTHING about life.... only "book-learning"... and then they enter the workforce and are amazed that 30% of their earnings pay for "other stuff"... like "education"...

Heck, I understood taxes when I was 16... I made $100 a week, and took home 60 or 70... A real "waker-upper"!

Back on topic for OP: TSP is great.... you are young, do without as much as you can and MAX it!!! 30 years from now you will thanks me (and everyone else at FWF that says the same thing). I also suggest either a Roth 401k, a traditional 401k, or BOTH!

"Learn" to live frugally, build your retirement, then stop working EARLY in life and enjoy the results of your frugality!!!

Technologist said: Zan86 said: clampuke said: Paycheckcity Salary Calculator.

Just what i needed!! thanks!! Crazy that like 33% of my paycheck is gone


Not picking on you Zan86.... picking on MOST college students in general ( )

Its amazing that college graduates aren't taught ANYTHING about life.... only "book-learning"... and then they enter the workforce and are amazed that 30% of their earnings pay for "other stuff"... like "education"...

Heck, I understood taxes when I was 16... I made $100 a week, and took home 60 or 70... A real "waker-upper"!

Back on topic for OP: TSP is great.... you are young, do without as much as you can and MAX it!!! 30 years from now you will thanks me (and everyone else at FWF that says the same thing). I also suggest either a Roth 401k, a traditional 401k, or BOTH!

"Learn" to live frugally, build your retirement, then stop working EARLY in life and enjoy the results of your frugality!!!

Good advice Technologist, but for Zan86's sake I think we should clarify that when you mentioned TSP above, you were referring to his Thrift Savings Plan.

Zan86 said: As i graduate college


You were ripped off!

curtisekarr said:
Good advice Technologist, but for Zan86's sake I think we should clarify that when you mentioned TSP above, you were referring to his Thrift Savings Plan.


Heck, I instantly thought Trisodium Phosphate.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014