40% of people making 500K/year are living paycheck to paycheck

[Anonymous]

Anonymous wrote:Pay check to pay check literally means there are no savings - no retirement - and no money at the end of the pay period.

So many here just do not understand.

I think most people here understand just fine.

[Anonymous]

Anonymous wrote:Never change DCUM. Your tone deafness is unparalleled.

lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did you look at the chart?

It says only 16% making $200-$300 live that way and only 25% making $100-$200.

How about this…the people making $500k can live like those making $300k…and then they will saving like 50%.

The most difficult spot to live is that 300k-500k spot, as those are not really rich, and you've lost all the subsidies and tax breaks from the government.

Yes. You feel like things should be "easier" at this range, but it's not

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did you look at the chart?

It says only 16% making $200-$300 live that way and only 25% making $100-$200.

How about this…the people making $500k can live like those making $300k…and then they will saving like 50%.

The most difficult spot to live is that 300k-500k spot, as those are not really rich, and you've lost all the subsidies and tax breaks from the government.

Yes. You feel like things should be "easier" at this range, but it's not

If your budget is not easier at 300k than at 200k or 100k, you are the problem.

And really, you are going to double down on the idea that the "most difficult" income range is 300k-500k. I would have thought we could all at least agree that the lowest income is the most difficult. I hope everyone trying to make ends meet in 40k understands just how fortunate they are not to have 10x that coming in. Phew! Really dodged a bullet I guess.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've seen enough of those "we make $500k but money feels tight" articles to know that most people don't actually know what paycheck to paycheck means

In this case they mean after maxing out all their retirement accounts and setting aside automated brokerage investments, paying private school tuition, paying the mortgage on heir huge house, and setting aside cash for their next big vacation and reno, they feel like they don't have enough left over to spring for guac.

Exactly, we make like 800k and still shop at Aldies because we need to save so much and pay for private college tuition, etc. It's not a glamorous life, everything thinks it is.

If you make 800k and are still pinching Pennie’s at the grocery store you’re doing it wrong. Stop wasting all your money on private school and the idea of private college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Pay check to pay check literally means there are no savings - no retirement - and no money at the end of the pay period.

So many here just do not understand.

I think most people here understand just fine.

Doubtful. At $300k HHI or more, one is not paycheck to paycheck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've seen enough of those "we make $500k but money feels tight" articles to know that most people don't actually know what paycheck to paycheck means

In this case they mean after maxing out all their retirement accounts and setting aside automated brokerage investments, paying private school tuition, paying the mortgage on heir huge house, and setting aside cash for their next big vacation and reno, they feel like they don't have enough left over to spring for guac.

Exactly, we make like 800k and still shop at Aldies because we need to save so much and pay for private college tuition, etc. It's not a glamorous life, everything thinks it is.

If you make 800k and are still pinching Pennie’s at the grocery store you’re doing it wrong. Stop wasting all your money on private school and the idea of private college.

+1 That's a choice. It's actually a glamorous choice! Sending your kids to whatever college they want and get into even if it's 100k a year? That's a lot more glamorous than Whole Foods, babe.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is how we get communist regimes sending out the "elite" into the fields for re-education. I'm wealthy. Those people are giving wealthy people a bad name. They need to be re-educated.

Is that your worry? That you’ll be given a bad name?

It’s not hard to believe that people start to need every dollar of their paycheck going to monthly expenses. They overextended themselves with a $2 million dollar house and top of the line everything.

If any of their "monthly epenses" include any kind of savings: retirement, 401K contributions, 529, scontributions,-- they are not living paycheck to paycheck. Words have meaning. People can certainly lock themselves into high levels of spending that are difficult to reverse, but that's not the same thing

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did you look at the chart?

It says only 16% making $200-$300 live that way and only 25% making $100-$200.

How about this…the people making $500k can live like those making $300k…and then they will saving like 50%.

The most difficult spot to live is that 300k-500k spot, as those are not really rich, and you've lost all the subsidies and tax breaks from the government.

Yes. You feel like things should be "easier" at this range, but it's not

If your budget is not easier at 300k than at 200k or 100k, you are the problem.

And really, you are going to double down on the idea that the "most difficult" income range is 300k-500k. I would have thought we could all at least agree that the lowest income is the most difficult. I hope everyone trying to make ends meet in 40k understands just how fortunate they are not to have 10x that coming in. Phew! Really dodged a bullet I guess.

+1
There have to be trolls on this post, right? I knew that money doesnt equate to intelligence, but how are so many stupid, tone-deaf rich people on this thread?

[Anonymous]

Anonymous wrote:$500k from one earner is MUCH different from 2 earners.

how so???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've seen enough of those "we make $500k but money feels tight" articles to know that most people don't actually know what paycheck to paycheck means

In this case they mean after maxing out all their retirement accounts and setting aside automated brokerage investments, paying private school tuition, paying the mortgage on heir huge house, and setting aside cash for their next big vacation and reno, they feel like they don't have enough left over to spring for guac.

Exactly, we make like 800k and still shop at Aldies because we need to save so much and pay for private college tuition, etc. It's not a glamorous life, everything thinks it is.

If you make 800k and are still pinching Pennie’s at the grocery store you’re doing it wrong. Stop wasting all your money on private school and the idea of private college.

Bingo

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've seen enough of those "we make $500k but money feels tight" articles to know that most people don't actually know what paycheck to paycheck means

In this case they mean after maxing out all their retirement accounts and setting aside automated brokerage investments, paying private school tuition, paying the mortgage on heir huge house, and setting aside cash for their next big vacation and reno, they feel like they don't have enough left over to spring for guac.

Exactly, we make like 800k and still shop at Aldies because we need to save so much and pay for private college tuition, etc. It's not a glamorous life, everything thinks it is.

If you make 800k and are still pinching Pennie’s at the grocery store you’re doing it wrong. Stop wasting all your money on private school and the idea of private college.

+1 That's a choice. It's actually a glamorous choice! Sending your kids to whatever college they want and get into even if it's 100k a year? That's a lot more glamorous than Whole Foods, babe.

No one, no matter their personal choices, should be complaining about money at 800k. It’s insufferable and gross

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've seen enough of those "we make $500k but money feels tight" articles to know that most people don't actually know what paycheck to paycheck means

In this case they mean after maxing out all their retirement accounts and setting aside automated brokerage investments, paying private school tuition, paying the mortgage on heir huge house, and setting aside cash for their next big vacation and reno, they feel like they don't have enough left over to spring for guac.

Exactly, we make like 800k and still shop at Aldies because we need to save so much and pay for private college tuition, etc. It's not a glamorous life, everything thinks it is.

If you make 800k and are still pinching Pennie’s at the grocery store you’re doing it wrong. Stop wasting all your money on private school and the idea of private college.

+1 That's a choice. It's actually a glamorous choice! Sending your kids to whatever college they want and get into even if it's 100k a year? That's a lot more glamorous than Whole Foods, babe.

If you make 800k a year and can't afford both private college and Whole Foods, that's a personal problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did you look at the chart?

It says only 16% making $200-$300 live that way and only 25% making $100-$200.

How about this…the people making $500k can live like those making $300k…and then they will saving like 50%.

The most difficult spot to live is that 300k-500k spot, as those are not really rich, and you've lost all the subsidies and tax breaks from the government.

No you haven’t? That’s still the 24% tax bracket for married filing jointly (which tops out at $400,000 taxable income)

[Anonymous]

i think the hardest part when i was making that much was full on sandwich generation time: $17,000 a month for two parents in memory care, and $3,000 a month for daycare. parents have now died and kiddo is in public school. but i was running low on money.