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Posted on 4/3/21 at 10:09 pm to ellishughtiger
quote:
bringing in $37,500 a month.
Pocket change for a OT baller
Posted on 4/3/21 at 10:14 pm to ellishughtiger
(no message)
This post was edited on 4/14/21 at 2:48 pm
Posted on 4/3/21 at 10:15 pm to RedRifle
quote:
Baw making $450k, can’t make ends meet
quote:
How does this happen?
No matter how much money you make, it’s always quite easy to spend it all and then some to the point you’re flat broke. Just look at our federal government as a prime example. It brings in somewhere around $3.5 trillion in taxes yearly. Despite this, they’re in the hole almost $30 trillion.
Posted on 4/3/21 at 10:17 pm to RedRifle
Time to liquidate and move to metry.
Posted on 4/3/21 at 10:17 pm to RedRifle
No way this is true
Posted on 4/3/21 at 10:18 pm to RedRifle
You meant 45k
Not 450k
Not 450k
Posted on 4/3/21 at 10:18 pm to RedRifle
quote:
Has a lot of CC debt to keep up his “lifestyle”.
Being gay sounds expensive.
Posted on 4/3/21 at 10:19 pm to RedRifle
I know some people like that in DFW who make about that much between them or a little more. She has 300 pairs of shoes and he never saw a boat he didn't fall in love with.
Posted on 4/3/21 at 10:20 pm to RedRifle
It's very common
They spend to keep up with their neighbors, who spend to keep up with them. All have so much credit card debt, that if they missed 1 pay check, they would spiral into chaos.
They spend to keep up with their neighbors, who spend to keep up with them. All have so much credit card debt, that if they missed 1 pay check, they would spiral into chaos.
Posted on 4/3/21 at 10:20 pm to Jim Rockford
Nouveau Riche problems
Posted on 4/3/21 at 10:22 pm to RedRifle
I would tell him to move 70 miles north but we don’t need anymore of his kind coming this way to turn what we have into what he’s trying to get away from.
Posted on 4/3/21 at 10:23 pm to RedRifle
quote:
How does this happen?
Cocaine and/or a mistress.
Posted on 4/3/21 at 10:23 pm to RedRifle
This post was edited on 4/3/21 at 10:24 pm
Posted on 4/3/21 at 10:26 pm to Cosmo
$450k isn’t as much as one would think. His effective tax rate is probably 40%. His total tax burden is probably 60% ish. That leaves $15k/month.
Posted on 4/3/21 at 10:26 pm to AUriptide
quote:
He is full of shite and doesn't make 450k.
I’m a CPA. I see it all the time and I know exactly what my clients make. 400+ Salary with a million + home, 3 cars 60k or more, boat, camp, etc.
Debt adds up quickly no matter how much you make. They then become reluctant to offload any assets because of the image they are trying to uphold so they miss mortgage payments, refinance and take out cash, run yo the credit cards, etc.
Posted on 4/3/21 at 10:28 pm to RedRifle
He is not making 450K.
Posted on 4/3/21 at 10:28 pm to SippyCup
quote:
I’m a CPA
Please do a "Stories from a CPA" thread.
Posted on 4/3/21 at 10:31 pm to RedRifle
You would be surprised how many people live like that.
Posted on 4/3/21 at 10:42 pm to Topwater Trout
People have no patience. They don’t know how to wait.
Like my old man used to say. You’ve got to crawl before you can walk.
You can’t compete at 20 something on assets with a 50 year old. A C lot of young people think they can have it all when starting out, but it just doesn’t work that way.
I’ve got a LOT of toys, but I accumulated them over time. And kept up with the maintenance on them.
At 20, I didn’t have shite. And new I needed to save up and have a plan to accumulate any kind of assets. It took a while, but I’ve got a few now. I’m no baller, but I learned patience a long time ago. And I try to teach that to my kids.
Like my old man used to say. You’ve got to crawl before you can walk.
You can’t compete at 20 something on assets with a 50 year old. A C lot of young people think they can have it all when starting out, but it just doesn’t work that way.
I’ve got a LOT of toys, but I accumulated them over time. And kept up with the maintenance on them.
At 20, I didn’t have shite. And new I needed to save up and have a plan to accumulate any kind of assets. It took a while, but I’ve got a few now. I’m no baller, but I learned patience a long time ago. And I try to teach that to my kids.
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