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Money and Finances
Reply to "<$100,000 and don't feel poor"
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[quote=Anonymous]Here is how you can be poor with a high income: 1) three kids in private school 2) 2 million dollar house 3) 2 luxury cars Those items: 45K/yr, private (4000/mo); Mortgage: 16000/mo (8 x my house...), and 2K/month car. 22,000/month. 264k /year....with 400K, that would leave 20K for everything else (after taxes). Now, here is how I can live confortably on 100K: 2000/mo mortgage (small house in good neighborhood) public schools 500/mo car payments 800/mo food for three 500 mo utilities (including telecon) -- 3800 total, income after taxes about 6250, leaving 2450/month for everything else. Or almost 30K extra. So I have more fun money than the overextended person earning 400K. [/quote]
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