Reply to Why do people who make 500k + not "feel" rich?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Again, if you make $500K, it seems very easy to judge that person, without knowing a single detail about that person.  What about a parent whom earns $500K, but, spends like $200K a year on a very sick child?  Is that person materialistic????  Because, according to one poster, that is what you are.  INSANE!!!!  That same person could be living paycheck to paycheck.  Do you think that person 'feels rich'???[/quote]

If you are spending $200k on a very sick child, I am sorry to hear that.  But you still have $300k a year for other expenses.

The median income in the US is around 60k.  The median income in this area in 2017 was around 82k.  Your leftover income would still be more than 3x that.  You are rich.  You are uber rich.  If your friends make $1m a year, guess what, you are still rich.

[/quote]

I will repeat it: if you make $500K, you start off by giving a lot of it to the gov't in the form of taxes.  About $175K.  And, if you have medical expenses of $200K, you have about $125K left to house yourself, eat, insure yourself, save, etc etc.  That is NOT rich.  Very far from it. [/quote]

If you have a child that needs $200k in medical care annually, your child would qualify for Medicaid through Katie Beckett or similar. I bet most people making $500k have decent insurance that would cover a large portion of the expenses. [/quote]

And you can deduct medical expenses that exceed 10% of your income, so this whole outlier example created by the "actually the rich have it much harder than any poor person, you are judgmental"??!?!?!!!??!?!? poster falls further and further apart the more closely its examined.[/quote]

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