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budgetthrowaway1209 OP t1_jdvq5yg wrote

Reply to comment by a32167 in [OC] 2022 Income & expenses Sankey for family of 3.5 in SoCal by budgetthrowaway1209

Interesting, is there a benchmark for the effective tax rate that we should try to get to? I thought we were doing ok since we itemized deductions to a bit more than standard (mortgage interest and state taxes but both are capped) and some solar credits. Will definitely look into this thank you.

Our mortgage rate was a hair over 3%, so I think we’ll be holding onto this one for a while given state of thjngs today…

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a32167 t1_jdxv1dd wrote

Oh yeah with 3% you are definitely best served to have it as long as possible and rather invest the spare cash.

For tax: I got it wrong. As mentioned in the thread 40% is actually a pretty good rate.

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budgetthrowaway1209 OP t1_jdyge6k wrote

Thanks and yes, they’ll have to pry this mortgage out of our cold dead hands, but does make moving for whatever reason more difficult, I suppose.

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