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Started By
Message
re: Feeling broke on a $665K salary
Posted on 1/21/24 at 12:26 pm to Furious
Posted on 1/21/24 at 12:26 pm to Furious
quote:
He isn’t an idiot. If you aren’t financially minded, it is easy to see where most people wouldn’t realize the costs over time.
His take home pay is roughly 8K a week. If you have any sort of financial problems with that income they are 100% self inflicted and a reflection of outright stupidity.
1
Posted on 1/21/24 at 12:28 pm to Penrod
quote:
Bonfire of the Vanities
Was subsequently made into a film starring some of the biggest names of the day- Hanks, Bruce Willis and more- that became one of the biggest bombs of all time- right up there with Heavens Gate, Ishtar and Waterworld .
Posted on 1/21/24 at 12:31 pm to deltaland
quote:
I’m trying to figure out how. That kind of salary you should be able to make your big purchases (house,cars, etc) without financing. So after that bills should be easily manageable
Private school at $30-40k/kid, multimillion dollar house in an urban area that was financed (doctors often don’t have liquid assets or savings to buy the big house in cash until much later in their careers). Those two eat away that income quickly.
Posted on 1/21/24 at 12:32 pm to Crowknowsbest
quote:
Private school at $30-40k/kid, multimillion dollar house in an urban area that was financed (doctors often don’t have liquid assets or savings to buy the big house in cash until much later in their careers). Those two eat away that income quickly.
Nope that doesn't eat into it that quickly
Posted on 1/21/24 at 12:33 pm to SloaneRanger
quote:
I’ve run across people like this. It’s actually pretty common
Another thing that is pretty common is that individuals don't live their lifestyle according to their base salary. They're adding in OT, commissions, bonuses when none of that is even guaranteed.
Posted on 1/21/24 at 12:33 pm to Powerman
quote:
Nope that doesn't eat into it that quickly
A $15k mortgage hurts no matter your income.
Posted on 1/21/24 at 12:37 pm to Crowknowsbest
quote:
A $15k mortgage hurts no matter your income.
Sure. But they chose that.
Posted on 1/21/24 at 12:38 pm to Will Cover
Knew a couple like this. She had hundreds of pairs of shoes, he never saw a boat he didn't need to own. They ended up divorced.
Posted on 1/21/24 at 12:39 pm to Powerman
quote:
Sure. But they chose that.
Of course. I’m just explaining how that money could get burned up quickly.
Posted on 1/21/24 at 12:39 pm to Will Cover
I make between 50-60k. I live basically paycheck to paycheck and wish I made more but at least I have no debt and I'm happy.
My brother makes 250k. He only talks about money, is in debt and miserable that he is not a millinare.
It's on you.
My brother makes 250k. He only talks about money, is in debt and miserable that he is not a millinare.
It's on you.
Posted on 1/21/24 at 12:39 pm to udtiger
quote:
Zero sympathy
Same
Should be able to easily save/invest over half the take home pay on autopilot and live comfortably on the rest
Posted on 1/21/24 at 12:42 pm to Powerman
quote:
Should be able to easily save/invest over half the take home pay on autopilot and live comfortably on the rest
No shite.
Posted on 1/21/24 at 12:43 pm to Powerman
quote:
His take home pay is roughly 8K a week
I personally know someone who clears $13K/month and is living paycheck to paycheck. Child support for 3 kids, all 5 of his kids in private school, mortgage, two car notes, hunting lease, two boats, camper, etc
Posted on 1/21/24 at 12:45 pm to Powerman
quote:
Nope that doesn't eat into it that quickly
Posted on 1/21/24 at 12:46 pm to Crowknowsbest
quote:
Of course. I’m just explaining how that money could get burned up quickly.
Yes. It can get burned up quickly if you're really stupid with money.
Posted on 1/21/24 at 12:46 pm to Will Cover
Sounds like a scene out of The Bonfire of the Vanities.
Posted on 1/21/24 at 12:47 pm to cheobode
quote:
I personally know someone who clears $13K/month and is living paycheck to paycheck. Child support for 3 kids, all 5 of his kids in private school, mortgage, two car notes, hunting lease, two boats, camper, etc
That's a lot different than a family still together hauling in $35K a month
Posted on 1/21/24 at 12:50 pm to Will Cover
I’d love to see that credit card statements of this stay at home wife and what all she does with her time and his money
I’m sure it’s plenty of $3,000 Hermes bags and week trips to vail and $25,000 country club memberships and god knows what else
I’m sure it’s plenty of $3,000 Hermes bags and week trips to vail and $25,000 country club memberships and god knows what else
Posted on 1/21/24 at 12:50 pm to Powerman
quote:
Yes. It can get burned up quickly if you're really stupid with money.
Obviously. I’m just not surprised that this could easily happen to otherwise highly competent people. Especially doctors.
Posted on 1/21/24 at 12:50 pm to cheobode
quote:
Child support for 3 kids, all 5 of his kids in private school, mortgage
Well that's going to eat up a lot. Is child support based on his income? Which is bullshite in itself
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