re: Here's the budget breakdown of a couple that make $500K and still feel average

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The social security portion of FICA was capped at 160,200 in 2023 So on a % of income basis their FICA taxes were lower than people that make less than 160K a year

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Yeah I know.

If they’re both high earners, plus Medicare surcharge, and living in CA, I still can’t get income taxes higher than $156k.

I’ve already wasted more time calculating this than I planned.

Seems like they are living a pretty cush life, have money left over, aren't very frugal, living in a very nice house depending on where they are, and are still going deep in their 401ks......what's the issue again?

Americans are dumb. Social media has removed many Americans from having a basis in reality.

They also are paying for a 1.5m home.

Could easily cut out half of the kids activities and charity and walk away with 15k at the end of the year.

3 vacations a year, that is totally average. Also 42K for child care? That is beyond stupid. Also 23K for 2 adults and 2 kids? Learn to cook. 18K for charity? Build your savings up first ,before you donate to charity. $800 a month for Cars? Pay that shite off. Also with that high of a Salary why didn't they live cheap and gangbang out those student loans? This is poor money management and very bad habits.

But part of the problem is that at $500k they can probably get there kids into activities where they associate with kids if people worth $30 million so it makes them feel poor (even though they are high earners).

The child care component is not worth complaining about. $42k per year is absolutely legit in the northeast and is damn close to what I pay.

I don’t really see the point in the graphic. This couple is by all means living a good life, saving a lot and still has money leftover.

shite, they still doing way better than I am.

How are they even remotely average?

Even after all of their expenses, which includes emergencies and savings, they still have thousands left over every year.

I am fricking pissed off that they're paying $2500 for insurance on a $1.5M house.

I had questions so I found the CNBC article this came from LINK as well as the Financial Samurai article the CNBC report pulls its info from LINK

When you get more info, this becomes even more laughable.

The couple lives in NYC, they own a $1.5M condo in Brooklyn. Not wildly out of range for homeownership in NYC and that explains their taxes. No explanation given for $2,500 insurance on a $1.5M home though.

Their kids are 3 and 5, so the childcare number makes sense but these idiots are spending a grand per month on Mandarin, violin and tennis lessons for kids not too long out of diapers.

Both of their vehicles are leased. 2 large vehicles in a public transit oriented city is dumb.

This example is from 2018, so they actually were roughly maxing their 401ks as the limits were $18,500 in 2018.