Quote:
Originally Posted by CTinline-six
Ehh, not sure it's appropriate to post on the internet.
I will say that I read something a few months ago stating most Americans wouldn't be able to pay for a $1000 emergency, which is a bit alarming.
Some people are just terrible with money. My family grew up on the tighter side of budgets, so I was always a good saver. I mowed lawns and stuff at 10 years old and had enough to buy my first car at 16 and have kept saving/investing since.
I have friends who are married, and their dual income totals over 300 grand, yet they never seem to have any money. They drive older cars, live in a decent house but not a mansion, and yet they have finance problems. I work with people who are well into retirement age making 6 figure salaries and say they can't ever retire. Where does it all go?  |
It's not what you make - it's what you save.
300k - total salary
-37k - max 401k contribution for 2 people
- 80k tax (30% tax rate)
= 183k
Now expenses (annual):
- 50k mortgage (600-700k home)
- 15k property tax
- 10k car payments
- 10k vacations (family of 4)
- 12k groceries
- 20k school/activities for 2 kids
- 10k clothes
- 10k miscellaneous home items
- 20k student loans (graduate school?)
A few other expenses and you basically live paycheck to paycheck.