Reply to Goldman Sachs: 40% of $400-500K and $500K+ households “live paycheck to paycheck”

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Reply to "Goldman Sachs: 40% of $400-500K and $500K+ households “live paycheck to paycheck”"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We make about $450k. We max out most deductions, have a $4,800 mortgage payment, no daycare or debt and we pay cash for cars and vacations, and I can not fathom paying for a nanny, dual private, country club, and cleaning. When college comes we have savings. No quarterly tax payments (we're regular employees). [/quote]

Must be nice to have such a low mortgage [/quote]

Two GS-15 Fed on 375K HHI.  No mortgage on a 3.5M home in McLean, no car payment on two 2024 Lexus vehicles, 2M in TSP and 4M in investment.  I only pay utilities, property tax, home insurance, home maintenance.  I am a sucker for guitar and piano.  I recently bought a 150K piano and three vintage guitars for 40K each, without breaking a sweat.  Still have a lot left over on both paychecks.[/quote]

Have you ever had or do you plan to have daycare, school, or college costs?[/quote]

My wife parents stayed with us to take care of daycare, and school.  My Asian parents gave us 750K for taking care of two kids college education.  [/quote]

How are you in a fully paid off $3.5M home? Parents, or a lucky NVIDIA-like investment? Or hopped from another field like owning a business you sold into fed gov? Numbers don’t make sense. [/quote]

His parents gave them $750k for college education. So I’m assuming graduated no debt, no daycare costs, and they can take some high risk investments because they are backstopped by rich parents. Maybe down payment help but who knows?[/quote]

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