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WCI #294: Finance For the Whole Family

White Coat Investor Podcast

How Much of Your Income Should Be Going to an Allowance?

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How much of your income should be going toward this sort of allowance? You know, say you're an emergency physician, let's say you're making $350,000 a year. Other couples set an amount that you don't have to talk to me if you're spending less than 100 bucks. Do I still have to file a tax return for each of them? And if so, are there any amounts after which they would be subject to either payroll taxes or federal income taxes? Finally, what are your thoughts about asset allocation?

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