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Marketwatch: Why those earning 400k per year are barely scraping
- Thread starter Deleted member 21339
- Start date
I make barely 5% of that but I'm saving tons of money every month. Not having kids, having minimal overheads, and living frugally in a cheap part of the country sure is nice (Covid has definitely helped by cutting my social life down). I couldn't imagine the stress of having to juggle all that shit going out of my account every month.
Their monthly rent is like double my annual rent, jesus christ.
Their monthly rent is like double my annual rent, jesus christ.
Imagine how much money they'd be losing every month if they'd been forced into a 5 million house, good thing they managed to find a tiny place to live for just 2 million. My heart breaks thinking about their struggles.
But also, this example is showing that they are saving mountains of cash for their own retirement and for the future education of their children.
Yep. If I can live on $40 a week for food for two people, there's no reason these people can't do $80 a week for food. There you go they have an extra $1600+ a month right there.
Yeah its fucking stupid. i knew how many people are cash poor by asking a simple question about the luxury car is that a lease or is it financed.
Three vacations a year. $3000/year to charity. $106,000 PER YEAR on child care and food? Over a million dollars by the time your kids are 10 years old? Fuck off.
If you're making $400K per year and just barely scraping by, you do not deserve to be making $400K per year.
If you're making $400K per year and just barely scraping by, you do not deserve to be making $400K per year.
They put more away in a 401K than I make in a year.
Hard to feel bad when they also spend 20 grand a month?
Hard to feel bad when they also spend 20 grand a month?
Lmao who fucking pays 6746$ a MONTH for their mortgage?!
Don't buy a fucking mansion and you'll be fine geez.
Don't buy a fucking mansion and you'll be fine geez.
How can you barely scape by if you're covering all expenses, own a $1.6M home, and saving a shit ton
basically.
they aren't "scraping by" they are still saving a ton and can easily sell house/cars and other shit/have liquid assets.
They listed a budget. Just because they have all their money allocated within their budget doesn't mean they are scraping by. It's just weird framing.
Gap not Gucci! Toyota not Range Rover!
but we live in a 1.6million dollar home. AhahahhhhahahhhhhhhHHahahahahahah
but we live in a 1.6million dollar home. AhahahhhhahahhhhhhhHHahahahahahah
I make enough money to pay for a house that is 5x more expensive than what a typical middle class family can afford. I'm one of you though and I can barely get by, so please don't increase my tax burden!
It said some was delivery, my guess is they eat out a lot/use Uber Eats a bunch.
I pay around $900/month for my mortgage. If they moved into a place they could afford, with just that alone, they would have an additional $70K in their pockets every year...which is more than what the average person, including myself, makes in a year.
I think the key is to spend some time being poor so that you learn how to live off of less and appreciate the value of money but never become a slave to it.
Like, every dollar above my budget from when I was at 60k is for investing and valuable life experiences at this point. I do not care if Kevin at work sees me driving a 2009 Honda Civic and knows I can afford much better. Its paid off, going to drive this thing into the ground.
Like, every dollar above my budget from when I was at 60k is for investing and valuable life experiences at this point. I do not care if Kevin at work sees me driving a 2009 Honda Civic and knows I can afford much better. Its paid off, going to drive this thing into the ground.
That would be cheaper. They probably just have 2 kids in daycare. Where I live that could easily get you to $3k/mo in daycare
or it's just one of those ridiculous elite daycares
I'm not going to defend the ridiculous use case in the article, but one thing that hits harder as your income climbs is that your kids will get less help for college. A friend of mine is an experienced engineer at Facebook, and while he makes a ton of money, his kid receives zero financial aid as a result, putting a pretty large burden on him.
He wasn't as highly paid for most of his career, so it's not like he was able to put away massive amounts of money for college over time, so a good chunk of his Facebook money train goes right to the college.
Don't get me wrong - he still does quite well, but not as well as you would think when you hear what his gross income is.
He wasn't as highly paid for most of his career, so it's not like he was able to put away massive amounts of money for college over time, so a good chunk of his Facebook money train goes right to the college.
Don't get me wrong - he still does quite well, but not as well as you would think when you hear what his gross income is.
Did a quick lookup on zillow for median house prices in the big cities they mentioned.
Median Home price:
NY - $654k
LA - $764k
SF - $1.4m
Median Home price:
NY - $654k
LA - $764k
SF - $1.4m
Depending on area, that part is maybe the one part that I can understand.
Seriously, once their kids are out of daycare and pre-school then their savings potential are going to go through the roof. But even $5,500 is INSANELY expensive. You could buy a really nice house w/ that kind of money!!
All young families are in famine until their kids go to public school.
Now, if they choose to keep them in private school then no sympathy.
All young families are in famine until their kids go to public school.
Now, if they choose to keep them in private school then no sympathy.
