If you are one of the NFL players whose career lasted long enough to qualify for NFL pension benefits you will need to decide when to begin drawing your pension. Although the NFL retirement plan defines normal retirement age as 55 years old, many players begin drawing their pensions early.
The standard industry recommendation for mortgage payments is that no more than 28 percent of your gross income should go to your monthly payments. To calculate this, simply multiply your annual, gross income by .28 and divide by 12.
Here is in the Bay Area, we call it the weather tax. Reply. Iâve always thought that 30% rule is a little silly. Maybe if youâre making enough money you can afford to put 30% of your income into a house, but we certainly cannot. Our mortgage payment is only 20% of our income, and we are pretty frugal people, but that other 80% dissapears pretty quickly and we still arenât putting as much into retirement as we would like.