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]Yea I do not understand people, this year it looks like we will hit about 800K (two incomes). Between us we will have put 47k into 401K before employer contribution and another 40K of after tax mega roth money.  We then do direct deposit of 30% of our net income into our brokerage account at every pay cycle. Even after forking over ~222,000 each year to retirement and taxable investments, we still are left to blow 23,000/mo on life.  The key for us is we do all of this out of payroll deductions so there is no lifestyle creep, we never see that money.. And yes, we do have a 2nd home and do drive expensive cars and do take ski trips out to the rockies.  At this point our investments are like having 3rd full time wage earner in the house. Our growth last quarter was around 250K...not bad for 3 months of work! And yes at age 48 if we both lost our jobs we could get by on taking a low wage job just for the health insurance.  We would not lose our home, our kids would still have college paid for and we still would live a good life.

If you make our income and are strapped and not reaching your short and long term financial goals you are a complete and total moron.[/quote]

Curious, what’s your net worth?  We are 44/43 and very similar financials.  [/quote]

to be honest i don’t really know. My spouse handles all of the finances and we just do a “state of the union” twice a year.  All I know is what we contribute and that we have never pulled money out. We also have rentals that i pay exactly zero attention to which factor into NW.  Probably 8M? he just makes grand announcements when we have a particularly good quarter. [/quote]

Similar here but I’m retired. I don’t do ski trips to the Rockies. That’s so UMC. Ski every year in the Alps either Switzerland or Austria. We make over $800K/yr tax free.[/quote]

Can’t roll my eyes hard enough at “UMC.” The skiing in the west has been much, much better than the Alps in recent years. Snow just hasn’t been as good in the Alps. We go to both every year. [/quote]

Colorado is so overplayed, filled with pothead dorks from Denver and rich people from Texas. Telluride & Wolf Creek are great because they are in the middle of nowhere and not filled with those crowds. But yeah, I’ll take the Alps 9 out of 10 times compared to the U.S. and I’ve pretty much been everywhere. [/quote]

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