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re: How do $40k a year millionaires pay for these swimming pools?
Posted on 8/1/16 at 8:29 pm to Breauxsif
Posted on 8/1/16 at 8:29 pm to Breauxsif
quote:
, the list goes on and on for engineers
I agree that competent software engineers can make good money almost anywhere in the country.
Just like a master electrician or welder does.
But in the cities you mentioned, $150k/yr doesn't go as far as you'd think.
Posted on 8/2/16 at 12:21 am to lilsnappa
Trust me brah, I know. I live in Seattle where the cost of living is outrageous. I work at one of the best companies nationwide and make very good money for my age with an EE degree. 6 figures doesn't get you much here.
Posted on 8/2/16 at 12:27 am to HeadyMurphey
So your in tech? What experience do you have with salaries and so forth, haha
Posted on 8/2/16 at 6:43 am to Breauxsif
quote:
I work at one of the best companies nationwide and make very good money for my age with an EE degree.
Thanks for pointing that out, wasn't quite sure on that point.
Posted on 8/2/16 at 7:51 am to BehindtheWoodshed
I'm about 90% sure it's HELOC. One day the wife asks "so we have a HELOC right?". I have a HELOC just in case shite goes totally sideways and the wife is always eyeing that thing for a pool or patio project in the $20-50k range. She got the idea from her $40k millionaire buddy who used one to get their pool. Those people got it from some other $40k millionaire.
Not this guy.
Not this guy.
Posted on 8/2/16 at 9:22 am to BeerMoney
$40k millionaire spending habits is the reason Dave Ramsey is a national brand by teaching simple (almost 8th grade level) financial principles.
If you read any of the Thomas J. Stanley books on his research of Americans with >$1M net worth you will quickly understand that what someone can afford and what someone is worth are 2 very very different things.
If you read any of the Thomas J. Stanley books on his research of Americans with >$1M net worth you will quickly understand that what someone can afford and what someone is worth are 2 very very different things.
Posted on 8/2/16 at 9:59 am to lilsnappa
Man, money board has had some interesting threads the past few days.
Posted on 8/2/16 at 10:22 am to LurkerIndeed
Breauxsif brags and probably also exaggerates or lies on here constantly, which is amusing to me because even the amounts he claims aren't very impressive for seattle. There's also no need to show up in random threads to drop how much he makes or brag about amazon stock in a Nintendo stock thread. Bigfella is annoying, but at least he's boasting about actual wealth rather than a salary which can barely afford a single family home in seattle
Posted on 8/2/16 at 11:29 am to MusclesofBrussels
I don't think having a low six figure salary in Seattle is anything to brag about
Posted on 8/2/16 at 11:29 am to Breauxsif
Of course I am in IT, been sold for 16 years. From development, engineering to senior management. I have hired plenty of engineers, developers, etc. Worked for large companies everyone has heard of to small ones that no one has. The salaries you speak of are exclusive to certain areas and not the norm across the nation. I saw it as you just wanting to state what you made while trying to make it sound like the norm, which is far from what is reality
Posted on 8/2/16 at 2:52 pm to BehindtheWoodshed
I don't like this thread title. It implies someone who makes 40k can't be a millionaire.
Posted on 8/2/16 at 3:17 pm to JayDeerTay84
quote:
It implies someone who makes 40k can't be a millionaire
If they finance $50k swimming pools while making $40k/yr, statistics say they will more than likely will not become millionaires.
Posted on 8/2/16 at 3:17 pm to Breauxsif
quote:
Trust me brah, I know. I live in Seattle where the cost of living is outrageous. I work at one of the best companies nationwide and make very good money for my age with an EE degree. 6 figures doesn't get you much here.
One of my kids is a ME, lives in Seattle, no idea what he makes, but he and his roommates rent a $900K house for $3800.00/month and say it is a great deal, the house would probably be valued around $275K in BR.
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