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re: Budget Breakdown Of Couple That Makes $500k A Year And Feels Average
Posted on 3/26/19 at 1:58 pm to OweO
Posted on 3/26/19 at 1:58 pm to OweO
I'd tell this dude to cut about $10k from vacations, but his wife would just re-purpose that money to tennis lessons or some shite.
At least they are in the black at the end of the year, at least until the kids want something huge for Christmas or dad decides to take up golf or sport fishing.
At least they are in the black at the end of the year, at least until the kids want something huge for Christmas or dad decides to take up golf or sport fishing.
0
Posted on 3/26/19 at 1:59 pm to Damone
quote:
So if you split it down the middle, each makes $250k a year and only puts $18k annually into a 401(k)? LOL
18K annually is the maximum. They could do Roth IRA or something else beyond that though.
Posted on 3/26/19 at 1:59 pm to BACONisMEATcandy
quote:
BACONisMEATcandy
Where the hell you been?
Posted on 3/26/19 at 1:59 pm to rondo
quote:
IRS limits how much you can put into 401k...when this BS Instagram post was made it was 18k per year
Looks like it's 19k now
You can put in more than 19k. Or 20k. That is just the non-taxable limit.
Posted on 3/26/19 at 2:00 pm to RonLaFlamme
quote:
Roth IRA
These people have long been ineligible for a Roth
Posted on 3/26/19 at 2:00 pm to RonLaFlamme
quote:
They could do Roth IRA or something else beyond that though.
They'd have to back door it at that income.
Posted on 3/26/19 at 2:03 pm to fightin tigers
quote:
That is just the non-taxable limit.
sort of loses the purpose once you're getting taxed on it no?
Posted on 3/26/19 at 2:06 pm to rondo
quote:
sort of loses the purpose once you're getting taxed on it no?
Tax deferred growth, but I agree.
Posted on 3/26/19 at 2:06 pm to rondo
You actually can't go over the 18/19K in an employer 401K plan without penalties. Most employers won't allow excess contributions either. It's a dumb thing to argue about in terms of their budget either way
Posted on 3/26/19 at 2:06 pm to OweO
Subtle $2,000 per year car insurance brag. BMW and Land Cruier at $2k a year? Louisiana baw is jealous as frick.
Posted on 3/26/19 at 2:07 pm to MusclesofBrussels
I didn't see any health insurance or dental.
Posted on 3/26/19 at 2:08 pm to rondo
Depends. I always break it, but mainly because I am lazy. Budget to hit my max whether I get a bonus or whether I get a pay raise.
Company still matches above that limit as well, so I do what I can to get that too.
Company still matches above that limit as well, so I do what I can to get that too.
Posted on 3/26/19 at 2:08 pm to OweO
$2,500 property insurance on a $1.5M house is WAY too low. Mine is nearly $2,000 on a $300K house.
Posted on 3/26/19 at 2:08 pm to OweO
quote:
Evidently a few people in this thread is getting scammed on their child care.
How so?
Posted on 3/26/19 at 2:09 pm to fightin tigers
quote:
Company still matches above that limit as well,
They match every dollar yo put in?
Posted on 3/26/19 at 2:09 pm to fightin tigers
I have been in a Lexus and an Audi. Maybe I am a little biased.
And the people I know/knew (people worked with or knew from working in same building) who drove/drives a BMW seems like they always had problems.
Either way, people can drive whatever they want, I just think that people get caught up in what they drive a little too much and overspend on transportation.
Referring to the budget in the OP, I'd rather if the two vehicles were a camry or something and a truck and save at least $2000 a year.
And the people I know/knew (people worked with or knew from working in same building) who drove/drives a BMW seems like they always had problems.
Either way, people can drive whatever they want, I just think that people get caught up in what they drive a little too much and overspend on transportation.
Referring to the budget in the OP, I'd rather if the two vehicles were a camry or something and a truck and save at least $2000 a year.
Posted on 3/26/19 at 2:10 pm to OweO
What's the cost of vehicle maintenance on those two cars?
Posted on 3/26/19 at 2:11 pm to OweO
These things are always full of ridiculous flaws.
No health insurance?
40% effective tax rate?
, $464k of taxable income in NYC would still only have an effective tax rate of 35% after you consider the child tax credits. That's assuming you take the standard deduction too.
No health insurance?
40% effective tax rate?
, $464k of taxable income in NYC would still only have an effective tax rate of 35% after you consider the child tax credits. That's assuming you take the standard deduction too. Posted on 3/26/19 at 2:11 pm to BigPerm30
quote:
Subtle $2,000 per year car insurance brag. BMW and Land Cruier at $2k a year? Louisiana baw is jealous as frick.
lol no shite.
My wife and I pay $3600 / year
Posted on 3/26/19 at 2:11 pm to carhartt
quote:
Who the hell can take off enough work to take 3 vacations a year at $6000 a trip?
I'd be very depressed if I had to ask this question. Time off is one of the things I value most in life. We take more than three weeks of vacation every year.
Back to the OP... That food budget is definitely high. Over $1900 a month for two adults and two small children? We spend about $500 for two adults, and we buy quality meat and produce.
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