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Started By
Message
re: Baw making $450k, can’t make ends meet
Posted on 4/4/21 at 12:35 pm to ChewyDante
Posted on 4/4/21 at 12:35 pm to ChewyDante
quote:
At $450k a year you can easily begin offloading assets to mitigate sources of compounding debt and expenses and very quickly have your head above water. Wtf is he spending money on that with an income of $450k he can't downsize and sell assets that are causing him financial struggle?
Lol so 3 people with a lot of debt that would never sell off an asset.
0
Posted on 4/4/21 at 12:36 pm to ned nederlander
I agree. But 22,000 a month is still a lot of money.... this person has zero self discipline... If I brought home 22,00 grand a month I would still have 7 to 8 grand to work with at the end of each month..... but money isn’t that important to me so......
Posted on 4/4/21 at 12:36 pm to RedRifle
quote:
How does this happen?
quote:
Has a lot of CC debt to keep up his “lifestyle”
Seems pretty straightforward to me.
Posted on 4/4/21 at 12:44 pm to RedRifle
He should have no CC debt, no mortgage, no car notes, and a nice savings account.
Obviously he doesn’t so I’m gonna assume he has over $100,000 in Cc debt, a big mortgage, at least 2-3 car notes, no savings, and he might have a boat or condo he’s also paying on.
He also probably is the type person that has to take all his family and friends out to eat, trips, etc... and foots the bill
Obviously he doesn’t so I’m gonna assume he has over $100,000 in Cc debt, a big mortgage, at least 2-3 car notes, no savings, and he might have a boat or condo he’s also paying on.
He also probably is the type person that has to take all his family and friends out to eat, trips, etc... and foots the bill
Posted on 4/4/21 at 12:47 pm to bulldog95
quote:
He should have no CC debt, no mortgage, no car notes, and a nice savings account.
People that make a lot of money typically understand leverage
Posted on 4/4/21 at 12:47 pm to bulldog95
Sounds amazing that he got himself in a position to even make that much a year.......
Posted on 4/4/21 at 1:02 pm to bulldog95
quote:
He should have no CC debt, no mortgage, no car notes, and a nice savings account.
People making 30K a year could easily say the same thing about someone making 150K a year. Yea if your making 30K a year your prob living in a 120K house. If your making 150K a year your prob living in a 400K house. This is how mortgages and car loans always end up making their way into peoples lives. I went from making 30K to 150K. I went from a 120K house to a 300K+ house all I did was take out a mortgage. Why would i want to live in a 120K house and pay it off when I can living in a 300K+ house and pay a note.
Posted on 4/4/21 at 1:02 pm to bulldog95
quote:
He should have no CC debt, no mortgage, no car notes, and a nice savings account.
People making 30K a year could easily say the same thing about someone making 150K a year. Yea if your making 30K a year your prob living in a 120K house. If your making 150K a year your prob living in a 400K house. This is how mortgages and car loans always end up making their way into peoples lives. I went from making 30K to 150K. I went from a 120K house to a 300K+ house all I did was take out a mortgage. Why would i want to live in a 120K house and pay it off when I can living in a 300K+ house and pay a note.
Posted on 4/4/21 at 1:13 pm to RedRifle
quote:
How does this happen?
Read Bonfire of the Vanities. In it Tom Wolfe explains how this can happen. The protagonist makes over $900,000 and lives in Manhattan in the late 1970’s. And he barely makes ends meet.
Posted on 4/4/21 at 1:15 pm to medtiger
quote:
Agreed...he either doesn't make $450K or isn't in real financial trouble.
It depends on what you mean by “real financial trouble”. But there are people in New Orleans making a lot more than $450,000 and are in danger of having to sell their house.
Posted on 4/4/21 at 1:27 pm to tigersownall
quote:that’s a fate worse than death for those people
and move to metry.
I bet Ronnie Lamarque still gets called Chalmation trash
This post was edited on 4/4/21 at 1:33 pm
Posted on 4/4/21 at 1:35 pm to chalmetteowl
Is this the guy that just got arrested at Disney claiming he spent 15k?
Posted on 4/4/21 at 1:36 pm to DaleGribblesMower
quote:
Stupidity
Posted on 4/4/21 at 1:38 pm to RedRifle
This happens all the time.
There are people making $50k/yr that have more in savings than those making $500k. A person’s salary doesn’t determine their financial intelligence.
There are people making $50k/yr that have more in savings than those making $500k. A person’s salary doesn’t determine their financial intelligence.
Posted on 4/4/21 at 1:45 pm to SECdragonmaster
quote:
We bid all cash with a close within a week as long as the inspection was good. Our realtor told us we would not get the house.
The seller took our offer because he “needed the cash” from the sale.
That’s not how it works.
Posted on 4/4/21 at 1:47 pm to FLBooGoTigs1
quote:
bringing in $37,500 a month.
Money problems are almost always never ever an income problem. It’s always the outflow side.
That’s said, $37,500 is actually about $20,000 in spendable cash.
Posted on 4/4/21 at 1:49 pm to RedRifle
quote:
I have a friend making $450k in NOLA with 2 kids and he recently let it slip that he’s living from hand to mouth. Has a lot of CC debt to keep up his “lifestyle”.
How does this happen?
1) Exaggerating his income
2) Alimony/child support?
Posted on 4/4/21 at 1:51 pm to RedRifle
Seems like you know how it happened
Posted on 4/4/21 at 1:51 pm to deathvalleytiger10
Also there’s the possibility that someone needs to live a certain way to keep raking in big money... just as easily as they get it, they can lose it. You have to be in the “in crowd” and socially acceptable.
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