re: Baw making $450k, can’t make ends meet

If somebody paid me a million a year with a challenge that I had to live paycheck to paycheck I could effortlessly do it. Its easy to live above your means no matter what you make. Bezos could live above his means.

If he makes $450k then he probably has around $225 take home.

Gotta pay those taxes to support those that refuse to work and victimize the taxpayers with impunity.

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You forgot the FIRST and most important expense - Taxes.

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This. With higher income you don’t qualify for many of the tax deductions such as child tax credit, student loan interest or financial aid period if the kids are college students. No tax refunds or stimulus checks.

Here is another possibility if the kids are college age -

Income - $450,000

Taxes - $120,000
Health Insurance - $15,000
Medical (glasses, dentist, etc) - $6,000
House payment - $36,000
Car Payments - $18,000
Auto Insurance - $8,000
Utilities - $6,000
Cell / Dish / Internet - $6,000
Gas - $10,000
Tuition (college) - $48,000
Kids (rent, food, books) -$30,000
Food / Clothes - $12,000
Car Repairs / Lawn / Misc - $15,000
Stuff breaks or needs replacement - $6,000
Vacations - $10,000
Charity - $25,000
401K - $45,000
Eating Out / Entertainment - $12,000
Debt (interest, other) - $12,000
Unplanned expenses - $10,000

Total - $450,000

Just needs to sell his uptown house for 1.5 million over asking price and he’ll be fine

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Y’all are overestimating the taxes. I’m in a no income tax state but pay self-employment tax and the effective tax rate is about 70% of your estimate. TN cannot be that much better than La.

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Federal income tax alone on $450k in income is $118k. That’s with no deductions, but to get to 70% of $120k ($84k) in federal income tax, you would need $100k in deductions. And thats without counting state income tax, property tax, or sales tax.

Well the OP did say Nola, not Louisiana. If you make $450,000 in Nola and aren’t increasing your net worth substantially year over year you are mostly retarded, however . . .

two kids at Newman or country day plus summer camps is $60,000 a year after taxes. Buy a +$1 million dollar uptown home and it will generally cost a fortune to insure, heat, cool, maintain, to say nothing if the note. Add in cars, join a country club, ride in a few Mardi Gras parades and you are a second home or time share away from pretty well pissing your take home pay down the drain.

I agree with you completely, but to be fair he isn’t taking home $37,000 a month. Withhold 40% for state and federal income and employment taxes and the take home is $22,500. It’s pretty easy to spend $15,000 a month living the “i’m rich” lifestyle in New Orleans with 2 kids. Fall asleep at the wheel and jumping to $20,000 or more in spending isn’t impossible.

Fancy homes, luxury cars, private school tuition, travel ball, golf, vacations, fine dining. I don't make anywhere near 450K but I bet you I can find a way to spend it. If he's hanging around those making the same income he is then he's also trying to keep up the same lifestyle his friends have. This happens at every level of income.

Time to start downsizing lifestyle.