parott

Current year’s living expenses (250K) + mortgage payment of 225K  = Salary of 475K
so they cancel each other out.
Next year – no salary, only pension of 48K
Expenses of 257.5K
and assets of 4,350,000
Realize that there are multiple things going on:
1. Current year end is when he receives inheritance of 8Mill, pays of 3.5 Million on mortgage + 150K Debt
2. The salary and (expenses+mortgage(last principal + interest)) are a wash.