Living in ohio. W2 says like 155k, no kids, no wife, mortgage veryyy managble, max out 401k.
I live essentially paycheck to paycheck bc I eat out constantly. Working on reeling this in.
Living in ohio. W2 says like 155k, no kids, no wife, mortgage veryyy managble, max out 401k.
I live essentially paycheck to paycheck bc I eat out constantly. Working on reeling this in.
lmao
yeppppppp wrote:
Million ways for great lives w/o giving away all your $$. The kids & school loans- OK. But the rest is unnecessary. You both should be living lives to retire very early & have great retirement accounts to have great golden years.
This! Even someone on 50k with a wife/husband on 50k can have a good life in Ohio.
You shouldn’t have had so many kids. You shouldn’t have lived in the Bay Area.
Why do you have loans for vehicles?
Why do you eat out so much?
Why are you going to the zoo so much?
Why is your house expensive?
Do you think you are Will Smith?
50-15 is 35k
abde wrote:
poorkid1234 wrote:
before you call me a whiny rich guy, understand that 800k is actually 500k after taxes, which is 60k / month.
Lol epic fail.
I am surprised it took so long before someone spotted this.
Maybe RoJo is the OP. In which case it may be plausible.
If you're paying $300k/year in taxes, you might as well get your money's worth and send your kids to public school.
This is embarrassing. Maybe if you’re spending 5k a month in entertainment you need to scale it back and hang out around the shoebox more. Or maybe you shouldn’t have had kids, most people seem to forget that the incredibly arrogant endeavor of creating new life is the most expensive thing you can do with your body. Or maybe you just need to stop being an a55hole, I guarantee you that you will be the type that burns if you don’t change your ways.
Similar income, 3 kids, similar cost of living area. We will be retired by 40 with 8 figures liquid. You are doing it wrong. You aren't rich because you are bad with money. 8k on entertainment and cars? Of course you are broke.
throwawayforthis wrote:
Similar income, 3 kids, similar cost of living area. We will be retired by 40 with 8 figures liquid. You are doing it wrong. You aren't rich because you are bad with money. 8k on entertainment and cars? Of course you are broke.
Same here, pulled about 600K per year as a CIO, publicly traded. Executive level at age 29. Managed a team of 50 people, many of them older than me. Ivy League education. Full liquid. I'll be done next year at age 41.
So you’re house poor and school poor. Here’s some suggestions..
1. Move to a tax friendly red state
2. Get a smaller house. Your kids might even have to share a bedroom (gasp!)
3. Send your kids to public school. They teach things like reading and math there too.
Your life really won’t be that much different but you’ll be able to actually save money.
You don't even have a boat? You're just a redneck with a paycheck.
“10k to our mortgage in expensive as$ California - $2 million shoebox house
5k to entertainment (eating out, going to zoo, movies, etc with kids is NOT cheap)
3k to cars (loan, gas, insurance, repairs, etc)
3k to groceries
4k leftover for savings / retirement / investing. lol. how can you live off of 4k/month.”…
We’ll abs you previously said, you are living off 25K a mth!
I’ve got 4 kids and maybe spend 5K a YEAR on entertainment for all of us.
Your spending and what you consider essential or needed things is way out of hand. Bring it Down a few levels and you’ll be fine.
No offense but half of your issues listed are personal lifestyle choices. Perhaps reevaluate where your money is flowing and make some small tweaks to save a couple k a month. You got it champ - keep your head up! You're still making 800k! 200k more until the 7 digit club, amirite? FBGM
poorkid1234 wrote:
before you call me a whiny rich guy, understand that 800k is actually 500k after taxes, which is 60k / month. that money disappears quickly.
wife and I are professionals and work extremely hard. we also have six figures of debt each from grad school, so 10k of that goes to servicing debt (principle and interest).
15k goes to our kids education (private school + 529 for 3 kids, ouch).
that leaves 25k left. where does that go?
10k to our mortgage in expensive as$ California - $2 million shoebox house
5k to entertainment (eating out, going to zoo, movies, etc with kids is NOT cheap)
3k to cars (loan, gas, insurance, repairs, etc)
3k to groceries
4k leftover for savings / retirement / investing. lol. how can you live off of 4k/month.
we are poor.
Your housing, food, transportation, and entertainment are paid for, and you're left with $4000. What "living" are you missing out on? I assumed $5000 a month on entertainment is living. After your basic and luxury spending, you're still left with $4000 to save or invest. And as others said already, "$3000 for food"??
poorkid1234 wrote:
before you call me a whiny rich guy, understand that 800k is actually 500k after taxes, which is 60k / month. that money disappears quickly.
wife and I are professionals and work extremely hard. we also have six figures of debt each from grad school, so 10k of that goes to servicing debt (principle and interest).
15k goes to our kids education (private school + 529 for 3 kids, ouch).
that leaves 25k left. where does that go?
10k to our mortgage in expensive as$ California - $2 million shoebox house
5k to entertainment (eating out, going to zoo, movies, etc with kids is NOT cheap)
3k to cars (loan, gas, insurance, repairs, etc)
3k to groceries
4k leftover for savings / retirement / investing. lol. how can you live off of 4k/month.
we are poor.
$60K x 12 = $720K
1/10
Topic is pretty lame. Stance is way too obvious. Would have been 0/10 except that you got some folks to take it seriously. So that's pretty funny.
I get California is expensive, but 5k a month in "entertainment"?
That is more than my wife, 2 children, and I spend in a month (probably $1000 more). Our mortgage is ridiculously low compared to most of the country, but still. I feel like we may eat out too much.
Of course you are not poor, you are just like most Americans, and feel entitled to a lot of luxeries and high end expenses. At least your income can handle you ridiculous life style and you are not in debt like most of the consumerist saps in this country.
Samesye wrote:
throwawayforthis wrote:
Similar income, 3 kids, similar cost of living area. We will be retired by 40 with 8 figures liquid. You are doing it wrong. You aren't rich because you are bad with money. 8k on entertainment and cars? Of course you are broke.
Same here, pulled about 600K per year as a CIO, publicly traded. Executive level at age 29. Managed a team of 50 people, many of them older than me. Ivy League education. Full liquid. I'll be done next year at age 41.
I can't even fathom how much 600k is per year. Hell, I'll be happy if I make 60k a year in my life.
yeppppppp wrote:
Million ways for great lives w/o giving away all your $$. The kids & school loans- OK. But the rest is unnecessary. You both should be living lives to retire very early & have great retirement accounts to have great golden years.
Agree except that all that money to send the kids to private school? What kind of California liberal sends their kids to private school? Oh yeah, basically every one of em that has the money to prevent their kids from having to go to failing public schools and sit next to, and interact with, those poor POC that go there.