400k and still be broke?

[Jeffg010]

WTF First thing is 1.2 million house then 24k in property taxes plus 30k on groceries.

https://screen.yahoo.com/videos-for-you/400-000-feel-broke-160902355.html?vp=1

 

[lxskllr]

Looks like bullshit to me. Yea, if you're tasked with squandering $400k, it doesn't take a genius to do so, but it also doesn't take a genius to refrain from squandering $400k.

 

[dave_the_nerd]

Looks like bullshit to me. Yea, if you're tasked with squandering $400k, it doesn't take a genius to do so, but it also doesn't take a genius to refrain from squandering $400k.

Pretty much.

$30k for groceries is where I get off the bus.

 

[edro]

$9000/yr auto insurance?
This article is lame.

 

[brianmanahan]

if i took "2 nice vacations" per year and spent 25$k on them, i would shoot myself

and a new 60$k car every 4 years? and annual country club does of 12$k?

this theoretical spender is pretty ridiculous

 

[darkswordsman17]

Reminds me of that article from a few years back when a bunch of investment bankers and the like were whining about how after they cut off their bonuses they were having "just as hard of time as anyone" with living, when one person was spending like $27k per month on dog walking, and another was talking about how they couldn't afford to send their kids to an even more prestigious prep school, keep their summer home in the Hamptons, and renovate their like multi-million dollar condo at the same time. But woe was them, and people couldn't understand the immense pressure they were under and it was so much worse for them than poor people.

 

[Anubis]

25k a year in house maintance???????????? they replacing the roof every year?

 

[ponyo]

if i took "2 nice vacations" per year and spent 25$k on them, i would shoot myself

and a new 60$k car every 4 years? and annual country club does of 12$k?

this theoretical spender is pretty ridiculous

$25k for 2 nice vacations is not crazy if you have a family of four and traveling international.

The theoretical spender is not ridiculous to be spending that much on everything. It's ridiculous that they're spending that much on $400k salary. I know someone close with similar expenses. But he makes over a million a year. Everything is relative. If you spend more than you make, you're going to be broke whether you make $10,000 or $1 million.

 

[Strk]

There are definitely parts of this country where $400k isn't really as much as it sounds, but that list was just stupid.

 

[Jumpem]

At that income I would start with a nice house that can be paid off in a year or two.

 

[OlafSicky]

Reminds me of that article from a few years back when a bunch of investment bankers and the like were whining about how after they cut off their bonuses they were having "just as hard of time as anyone" with living, when one person was spending like $27k per month on dog walking, and another was talking about how they couldn't afford to send their kids to an even more prestigious prep school, keep their summer home in the Hamptons, and renovate their like multi-million dollar condo at the same time. But woe was them, and people couldn't understand the immense pressure they were under and it was so much worse for them than poor people.

I can understand that. If you don't know what you are missing it's a lot easier. If you never had money, then you are used to it.
Imagine being able to afford anything you want and have many perks than suddenly all that going away and you have to count your pennies. I can imagine the stress would kill you a lot faster than anyone that never had anything.

When the crunch happened I was telling an old friend of mine about how stressed I was and worried about my savings and investments.
His response was I have 2 k in the bank make minimum wage can't get any worse for me He cold cover his rent buy a few things he wanted. He never went on vacation in his life so the idea of not being able to go to Florance this year didn't stress him at all.

 

[lxskllr]

$25k for 2 nice vacations is not crazy if you have a family of four and traveling international.

The theoretical spender is not ridiculous to be spending that much everything. It's ridiculous that they're spending that much on $400k salary. I know someone close with similar expenses. But he makes over a million a year. Everything is relative. If you spend more than you make, you're going to be broke whether you make $10,000 or $1 million.

Sure, but the decisions are easier when you make $400k. That person's money saving decisions will be far easier than the guy who has $200 in the bank, a 15 year old car, and needs to feed four people in a trailer.

The former's possibilities are wide open. The latter guy is one misstep, or bit of bad luck away from disaster. His car just died, so he couldn't get to work. He got fired, and the family got kicked out of the trailer park. They have $200 to work with. What's the best way to use this vast fortune?

 

[Attic]

They forgot to list the expense for the golden toilets this person shits in.

It's so hard having 10x the average salary, poor folks shitting in normal toilets just don't get it.

 

[pontifex]

Sounds like this person is living beyond their means. as someone else said
If you spend more than you make, you're going to be broke whether you make $10,000 or $1 million.

 

[Genx87]

This is the dumbest list possible. 30K\year in food expenses? 25K\year in house maintenance? I grew up in a home more expensive that that. My dad never put 25k\year into the house. Im not even sure if he has put 25K in the house in its 22 years of existence. 9K\year in car insurance? lol wat?

This is nearly as bad as those sob stories of people destitute after quitting 6 figure jobs to go get a useless degree and refusing to work in any other line of work but the new degree. And at the same time buying a house and cars they cant afford.

 

[PottedMeat]

$9000/yr auto insurance?
This article is lame.

yeah sounds like someone was fucking around on a online finance calculator and said 'i bet i could make a shitty outrage video about this!'

 

[Exterous]

Well, it does include $10k for 529s and 'modest' 401k contributions tahts not bad. A lot of the numbers seem a bit off though...

That said keeping up with the Jones is very much still alive

if i took "2 nice vacations" per year and spent 25$k on them, i would shoot myself

It seems like people are spending more and more on vacations (and weddings for that matter) on the idea that 'they deserve it' and 'it needs to be perfect'.

 

[darkswordsman17]

I can understand that. If you don't know what you are missing it's a lot easier. If you never had money, then you are used to it.
Imagine being able to afford anything you want and have many perks than suddenly all that going away and you have to count your pennies. I can imagine the stress would kill you a lot faster than anyone that never had anything.

When the crunch happened I was telling an old friend of mine about how stressed I was and worried about my savings and investments.
His response was I have 2 k in the bank make minimum wage can't get any worse for me He cold cover his rent buy a few things he wanted. He never went on vacation in his life so the idea of not being able to go to Florance this year didn't stress him at all.

Sorry but that's bullshit. (And if you have to ask why, all I can say is, really? Are you really that out of touch?)

 

[T9D]

Uh ok sounds like they are living the good life

 

[Newell Steamer]

$400K - how funny,.. that is what I made during my 1st job in junior year in high school!

 

[waggy]

what fucking idiotic article.

$25k a year on house maintenance?

$15k on utilities?

$30k a year on food for 4?

$9k a year on auto insurance? wtf are they driving and how bad a driver are they?

 

[TheVrolok]

Absolutely absurd. Should be summed up as, "How Can Someone Make $400,000 And Feel 'Broke'?" ... "By living well above your means and overspending to absurdity." I can only hope that the author was hoping to scare some ignorant folk straight and hope that they would start saving/spending less.

 

[Attic]

The 283k after tax from 400k sounds off as well if you do state and federal and payroll.

~200k after all taxes are taken at that level.


Both with taxes and lifestyle, it's not how much you make, it's how much you keep.


This video appears more of a way to spend through 400k salary if you don't want to keep any of it. Would be more interesting if they compared how much you can spend at 400k on items vs how much you can spend at 60k on items if you want to run through both.

 

[Brainonska511]

The list was pretty stupid. The amount spent on utilities, insurance, and groceries was simply absurd.

 

[Anubis]

i still want to know how someone would be spending 25k a year on house maintenance, not counting some capital improvement or renovation

also the food is just stupid, thats like 600$ a week