Current Events > Lifestyle Inflation

(+) Yeah! (+)

They make a combined $500k and live in NYC. They only save 7 grand a year.
We're all fucked.

Yes, they could cut out date night. They could cut vacations. They could cut charity (wtf paying alumni when they're still in debt).
But still. It's eye opening.
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yeah i'm not gonna feel bad for someone making that much
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Hinakuluiau posted...

They make a combined $500k and live in NYC. They only save 7 grand a year.
We're all fucked.

Yes, they could cut out date night. They could cut vacations. They could cut charity (wtf paying alumni when they're still in debt).
But still. It's eye opening.

They're saving way more than 7 grand a year. They're putting in 36k for their 401k's. Do that until you retire and that's 2 mill each which gives them roughly a 200k income at retirement. Assuming 4% growth.

You also don't have to give your kids private sports violin academics, or a 1.5 million dollar home, or 18k going towards charity.

They're pretty secure as it is. If they really wanted to rake in money they could go ahead and invest that charity money to make more money reduce vacations to two or 1 and invest that, live in a smaller place, and they'd be pretty damn comfortable.

But basically they're already living a life where they don't have to worry about paying for extraneous things currently.
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THREE vacations a year?

How do they get that much annual leave? Unless vacation includes long weekends away or whatever. But then again it's $18k? $6k three times is like, a lot if you're staying local.

$18k is bullshit amounts for charity too. Cut that out right away. Change your vacation to 1 a year. Keep date night - you need some luxuries.

Sell your cars, you live in NYC, just use public transport.

How is a couple with NET $278k a year even paying a car loan? These people seem incredibly dumb with money.
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DavidWong posted...

How do they get that much annual leave? Unless vacation includes long weekends away or whatever. But then again it's $18k? $6k three times is like, a lot if you're staying local.

They're both lawyers, after working a case you get time off. This is how they have both a lot of time to get vacations and also how expensive it is to buy last minute plane/hotel tickets for 4 people.
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Hinakuluiau posted...

DavidWong posted...

How do they get that much annual leave? Unless vacation includes long weekends away or whatever. But then again it's $18k? $6k three times is like, a lot if you're staying local.

They're both lawyers, after working a case you get time off. This is how they have both a lot of time to get vacations and also how expensive it is to buy last minute plane/hotel tickets for 4 people.

Fair enough.

Look I'm totally for private school for kids, violin lessons, sports, all that jazz. Given they're lawyers, take the 3 vacations then, that's cool.

But cut the charity, cut the cars. Add public transport, or cheaper, paid-outright cars and they've just saved an extra 30-40k a year, on top of their 401k
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3 vacations a year
bmws
private music lessons
charity

yeah, they are just fine
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I've seen the same info graphic but for less income

https://www.financialsamurai.com/wp-content/uploads/2015/03/FS-200000-Salary.png

Long story short, there is a lot in that budget that could be trimmed without a significant standard of living
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DavidWong posted...

THREE vacations a year?

lmao this, some people don't even get days off

At the end of the day their life is far from average. They have a $1.5 million dollar home and two kids. The average person lives in a shitty apartment and maybe gets one vacation per year.
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Clothes..._9500
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You don't pay over 32000 a year on a loan for 20 years ffs
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10k car payments in NYC and three vacations. TC is posting this ironically, right?
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80 grand SUV, three vacations per year, million and a half dollar home... "feeling average."
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