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]I assume at that income level they mean they aren't very liquid and therefore rely on each paycheck to pay their bills. They just don't want to sell off property or stock/bonds, but they could if they lost their income, so it's not really paycheck to paycheck like it would be for low-income families.[/quote]

I assume the same thing. [/quote]

I have $350k salary + $250k bonus/stock comp, and $9.2M 70/30 portfolio. DW is SAH and I work from home. I max all tax advantaged retirement savings and after taxes my two week takehome paycheck is about $8500. We spend more than this on mortgage (3.8%), expenses, hobbies/collecting, gifts, travel. So we use some of our personal low interest LOC backed by our assets, maybe an additional $10k-$15k per month. But that is under what annual bonus totals so the lump sum bump effectively erases it. Our portfolio is up $2.5 million in the last 2 years and we have taken nothing from it so it continues to compound. We are early 50s. So i guess you could say we live paycheck to paycheck but in a very different way than what that means to most people. [/quote]

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