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re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted on 1/29/24 at 8:13 pm to Hayekian serf
Posted on 1/29/24 at 8:13 pm to Hayekian serf
Congrats…I think all people would say no student loan debt > with student loan debt.
My comment is in reference to the size of the student loan payments. $500K in student loan debt is crushing if you make $70K a year. It’s bearable if you make $500K as in the OP.
My comment is in reference to the size of the student loan payments. $500K in student loan debt is crushing if you make $70K a year. It’s bearable if you make $500K as in the OP.
0
Posted on 1/29/24 at 10:51 pm to Cowboyfan89
quote:
$18k on vacations is fricking ridiculous
Yeah, that is pretty easy these days with 2 or 3 trips and a family 5.
Posted on 1/30/24 at 5:38 am to Pelican fan99
quote:
All they need to do is cut out the 18k bs to charity and they'd be doing just fine
This. They can probably trim some of the expenses here or there, but kids are expensive and so is living in a major metro.
The only thing that really sticks out is the annual donations, that's a ridiculous amount.
Posted on 1/30/24 at 9:13 am to Maderan
quote:
Yeah, that is pretty easy these days with 2 or 3 trips and a family 5.
I can't remember even spending $3k on a vacation recently. I must not be doing it right...
But seriously, feeling average while spending $18k on THREE vacations is being ridiculous. I don't know many "average" people that take 3 vacations, let alone spend that kind of money on vacation.
Posted on 1/30/24 at 9:30 am to Street Hawk
quote:It's quite a commentary on American expectations that a couple living in a $1.5M home, driving a BMW and LandCruiser, and taking 3 vacations/yr feels in any way "average." That is my takeaway here. There are very few places on the planet where that lifestyle would be perceived as "average." There are very few places on the planet where a couple complaining about such a lifestyle would be taken seriously.
couple that make $500K and still feel average
Posted on 1/30/24 at 9:35 am to NC_Tigah
It's a pure clickbait nonsense article and sure enough 5 pages of discussion. There is nothing average about this couple. They are living a great life by all accounts
Posted on 1/30/24 at 2:27 pm to hiltacular
quote:
It's a pure clickbait nonsense article and sure enough 5 pages of discussion.
Posted on 1/30/24 at 2:33 pm to slackster
What I really want to know is what are the mechanics in play that lead to graphs like this making periodic appearances every 12-18 months.
This is a nearly 6 year old graphic. 5 page thread here, multiple X threads discussing it, etc etc
What forces cause this specific graphic to reappear the way it does?
This is a nearly 6 year old graphic. 5 page thread here, multiple X threads discussing it, etc etc
What forces cause this specific graphic to reappear the way it does?
Posted on 1/30/24 at 3:09 pm to UpstairsComputer
quote:
In b4 $2500 HO Ins on a $1.5m house. Haha
Evidently i need to find a new insurance company because that is cheap.
Posted on 1/30/24 at 4:17 pm to Street Hawk
so after you fully contribute to your retirement, pay off all of your debts, and travel well and raise your children with hobbies and fun things and eat good and live in a good house and drive the cars you want, you have 7,300 dollars left over....
thats called life lol
thats called life lol
Posted on 1/31/24 at 8:34 pm to jp4lsu
quote:
In b4 $2500 HO Ins on a $1.5m house. Haha
Evidently i need to find a new insurance company because that is cheap.
Correct. I pay almost double that.
Every month
Posted on 1/31/24 at 9:53 pm to BigApple
$5K a month? Calling BS.
Posted on 1/31/24 at 10:58 pm to lynxcat
Yes, that seems wildly high.
Posted on 1/31/24 at 11:24 pm to lynxcat
Just doubled this year. Was only about 18k in 2021. It’s crazy. I’m shopping it now and if I can’t get a more reasonable rate, I’m selling the house. Can’t afford it this close to retirement
This post was edited on 1/31/24 at 11:26 pm
Posted on 2/1/24 at 7:31 am to BigApple
What state and size house? My policy is $14k and house is worth multiples of the one in the OP. 60k is crazy.
Posted on 2/1/24 at 9:28 am to Maderan
quote:
My policy is $14k and house is worth multiples of the one in the OP.
Posted on 2/1/24 at 9:46 am to BigApple
quote:
Just doubled this year. Was only about 18k in 2021. It’s crazy. I’m shopping it now and if I can’t get a more reasonable rate, I’m selling the house. Can’t afford it this close to retirement
$60K in insurance? Are you in a $5M+ home?
Posted on 2/1/24 at 11:20 am to Street Hawk
Car payments for a BMW 5 Series and a Landcruiser is going to be a lot more than $9600 per year.
Posted on 2/1/24 at 12:06 pm to Street Hawk
$82,500 a year in mortgage and escrow payments for a $1.5 million house. $7k a month mortgage
$18k a year in donations to charity
Both while still paying $32,000 a year towards student loan debt. Don't know about everyone else, but if I had that kind of student loan debt...those loans would be getting paid off before any big charitable donations. And I'd be living in a more modest house.
The rest of the expenses aren't cheap but don't look absurd for a family with 2 young kids. Though if they're still young enough to need $3500/month in daycare expenses...they're probably too young to be paying $1000/month for sports and music lessons.
$18k a year in donations to charity
Both while still paying $32,000 a year towards student loan debt. Don't know about everyone else, but if I had that kind of student loan debt...those loans would be getting paid off before any big charitable donations. And I'd be living in a more modest house.
The rest of the expenses aren't cheap but don't look absurd for a family with 2 young kids. Though if they're still young enough to need $3500/month in daycare expenses...they're probably too young to be paying $1000/month for sports and music lessons.
Posted on 2/1/24 at 12:09 pm to jp4lsu
quote:
Evidently i need to find a new insurance company because that is cheap.
If you are in Louisiana, that is the problem. That's a 4th of what I pay in Louisiana on a house that isn't worth 1.5 million.
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