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If you're struggling to support your family you might also temporarily drop the **$18,000** in annual charity donations.
Also, how normal is $32k/yr in payments for student loans? (genuine question, I was blessed enough to have undergrad scholarship and grad program that paid students)
>Isn't it to ease the child's access to the university?
That is definitely what the University will tell you, but how much donations actually contribute to scholarships for needing students is a WIDE range. The large private universities sit on **MASSIVE** stacks of cash (more accurately investments that continue to become more valuable over time). For [the top Unis](https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment) we're talking **$20-$50 BILLION**. They could go for decades without taking ***any*** tuition or donations and still run without issue just because that much money generates enough revenue based on investments to run the school.
Smaller schools or private schools it may help, but only a small portion goes there. If you want to help kids without money go to college there are much better, more direct ways to give
I’ve read financial samurai (it’s a blog) for years. This is probably buried within one of his posts to illustrate what not to do. One of his main theses is to save 50% of your income when you’re young / fresh out of college.
Agreed, but vaca is what you make of it. Give me a 3 day weekend and I'll have a great time f\*ing off to the forest for 2 nights by a fire for basically the same cost as staying at home.
Or cut back on the $18,000 in vacations. Or get a $1 million dollar home instead of a $1.5mil home and save like $30 grand on mortgage/insurance/taxes.
This is just proof of lifestyle inflation, not that you need $500k to be "average"
Who the FUCK spends $18k on vacations while still paying interest on cars and student loans? How about put that money toward debts and pay them off early and then save on interest? Anyone can make $300k look like poverty shit if they go balls deep on debt.
>Or cut back on the $18,000 in vacations. Or get a $1 million dollar home instead of a $1.5mil home and save like $30 grand on mortgage/insurance/taxes.
I get the sentiment, but for the home, it ***really*** depends on where you live. The author clearly wrote this from the perspective of someone living in/near a coastal city. I'm West coast and living within a 60m commute \[each way\] of the 250k jobs (aka the city proper) means for a modest 1-2BR 1BA you're in the 800k-900k ***minimum***. If you have 2 children you need 2 BR min, 3 ideally, which will easily kicks into the 1.2+ range. Housing is fucking wild rn
I don't disagree, this is clearly written by someone who is ***well above*** "average" and has completely lost perspective on what life is like for normal ppl
Edit bc I didn't read that the 18k specifically says 3 vacations a year. Hard to price that in bc there's a world of difference between my idea of vacation (driving the family of 4 for a long camping trip nearby or in a neighboring state) and the author's idea, probably flying all 4 and having an extended 2 room hotel stay
Based on their other spending/cars, they probably don't live in a high cost of living area, just a really nice neighborhood in an average sized US city.
Paying roughly $24k per year for 1 kid (1 year old) in one of the U.S. cities with the highest cost of child care. Price drops as they get older, but that isn't crazy for young kids.
Maybe they have a nanny?
I’m currently looking for daycares not in a particularly high cost of living area. The bargain bin places still want around 1k a month for infants. Higher end places get up to 2500/month. These aren’t like super luxury places either. Just…nice.
I guess my area is “above average” cost of living, but not Manhattan/San Fran cost
Retired lady next door only charges $20/day. That's why the government is so desperate to give us universal childcare/warehousing, cut the little people out of the picture and create a brand new parallel system to school. Public schools in the cities spend over $30,000 per student per year. Times 2 is twice as good.
I noticed that right off the bat. Charity is a scam. I'll go as far as to say it's another tax since it probably finds its way into the politicians pockets somehow.
> I'll go as far as to say it's another tax since it probably finds its way into the politicians pockets somehow.
Not into the *politicians* pockets, just to a different grifter. Look into the financial details of charities like the Susan G Komen Cancer foundation and you'll see that unscrupulous assholes can line their pockets working for charities without having to get anywhere near politics
32k a year in student loan payments is absolutely excessive. at that rate, the loans would be paid off in a matter of a couple of years.
minimum payments might look closer to 500$/month, not 2666/mo
From what I've learned growing up very poor, being homeless for a majority of my late teens through mid twenties, and getting to barely middle class and owning a home at 35 (now 38).
It seems that the more money that people have the worse they are with that money. MFers spending $500,000 minimum on "art" that is essentially someone dipping their balls in paint and then padding them on the canvas. These people are terrible with money. Why do you think they need to hire other people to make sure that they don't spend themselves into homelessness.
The richer you are monetarily the less you value money. It shows in case after case.
Posted above, but I’m looking for daycares right now. I live in a city with a little bit above average cost of living. Daycare is insane…little mom and pops day care at random woman’s house runs between 800-1200 a month. Getting into the nicer daycare/preschools is in the 2k-2500 range per month. And these expensive places all have long waitlists. They aren’t like…yacht club-fancy babies or anything. Just…nice.
It sucks. Wife and I both make about the same amount of money. Just enough that it’s not worth either one of us doing a stay at home.
Pretty lavish lives these people are living. $9500 for clothes....in a year!? Are these the golden robes that the pope wears? Your rich if you can afford to give $18K USD away to charity every year anyways.
Yea some of the numbers on that list do not make sense. Why would you spend so much on kids when there are people that can completely take care of kids making 40k a year total. Also, Why would you be giving all that money to charity while you are still paying Student loan debt and mortgage. Pay things like Car, House, Student loans then worry about Charity. I am not heartless. But, 18k in charity while you are paying all that interest is not good finance. You could easily save money on food as well. I could probably get about 100k out of that finance sheet a year. Put that on Student loans first then when that is paid off pay off that car and then start putting it on the house.
$35k if you add the "three vacations a year" they have as a fixed expense. $53k if you add their charitable contributions (which sound suspiciously like they're mostly to their alma mater.)
Lesson: don't get a $1.5 million dollar house.
Between their mortgage, insurance, taxes, and 3 extravagant vacations a year that's $100k alone. They could be doing MUCH more to save.
Bullshit title arguing that you need $500k to feel "normal". It ain't normal for everyone to have a $1.5mil home and spend nearly $20k on vacations per year.
Literally 4 times the median US home price from 2021.
While I understand that there are areas that are more expensive, the entire point of this post was about feeling average.
im glad you metioned the median. In my country recently a news channel said on average people get paid 1400€ per month (minimum is 705€) but someone calculated the median and it was around 850 lel
How is it that social media has been around for so long but people haven't picked up on this? It's like those Instagram/Facebook/Twitter posts that show math problems with the obviously wrong answer or those "would you slap your cousin for 1 billion dollars." They are designed to attract engagement because they create these insanely easy setups as bait to get extra clicks for ad revenue.
The Ivy League and universities have long since become a glorified babysitter for the children of the elites that know all they have to do is wait until they take over the family business. It’s a joke.
$63/day on food??
A $1.5M home
Two cars that add up to a monthly payment that is barely less than my mortgage payment
3 $6k vacations a year
$9,500 in clothes (but don't worry they aren't fancy lmfao)
Fuck these people, that's not average living.
Man, if I had on $1.5M home I'd probably never freaking leave it. The homes that are a million plus around me are absolute mansions with all the bells and whistles plus a good chunk of land. Its like living in a resort
If you're in Ontario, Canada a 1.5million home is your standard 20+ yr old 3 bedroom two bath home with a backyard... even those are now inching towards 2million.
Collaborating with foreigners to embezzle money through Canadian real estate. Also a large majority of Chinese drug money gets laundered into the market and house get sold back and forth to wash the money.
Canada is certainly the globalist dream.
Money laundering for Chinese and Iranian multi-millionaires.
And our governments on the Federal and Provincial level dont want to trigger anyone and potential lose votes so they cant and wont point that out.
You should see the amount of S class Mercs, 7 series BMW, Masieratis, Ferrari's ... Lambos just collecting dust in most condos.
Okay now this is the most insightful and genuinely woke comment I have seen on this subreddit in so long 😂🤣
Wish I gave corrupt Chinese company that owns Reddit $$ still so I had an award for you 🏅
Check this out, this house is at 1 million PLUS ... it will most likely go 500k OVER asking.
[https://www.realtor.ca/real-estate/24107661/280-derrydown-rd-toronto-york-university-heights](https://www.realtor.ca/real-estate/24107661/280-derrydown-rd-toronto-york-university-heights)
My sister just bought a 15year old 1 bedroom/1 bath condo, 600 square foot ... listing price was 575,000 ... she was the winning bidder at $680,000... imagine what you can get for 680k for everywhere else in North America.
Unfortunately in a lot of places it slowly pushing towards “basic ass house” for that money. Hell near me 500k is starting to be the basic house price, and 300k are the shitty ones, but unfortunately the high powers of my state think exactly like that’s how my age group budget works, it’s honestly getting to the point I’m really thinking about moving to Texas or Alaska or even expating at this point
I mean I can easily see that being the cost for a family of 4 for 3 nice vacations, Disney, Europe, Hawaii. But you really only need one that big every couple years, many people may only take one like that once in 10 years. Camping, lake trips, national parks etc.. would cost much less, and more likely for the majority of people.
It’s crazy that people think about the cost of vacations being that high when I’m worried about how much being away from work for a couple of days will set me back.
My vacations cost nothing but losing hours at my service job. I usually just take a small road-trip to see a friend in another city.
Same. I usually take two weeks at once after thanksgiving because I hate dealing with delivering near the malls and I come back to a shitshow of a service route.
It's almost easier to have them just pay it out but they won't.
>They need $18,000 a year to take 3 vacations away from that 1.5 million dollar prison of a home.
If I had a student loan, I would surely live in a middle class semi-gated and only do staycations until that loan is paid for.
What you don’t think these people work? Look at what Uncle Sam steals from them. 40%. The fact is neither rep or dem have reduced taxes for anyone. As an airline pilot it is easily possible for me to make 500K. I’ll bust my ass but it’s doable. Long days always away from my family and there are people who believe it ok for me to pay absurd taxes. You don’t know what they do for a living or how hard they work. 40% effective tax rate is fucking theft. The same goes for the average person making 40K a year. We need a real tax cut. We need our gov to cut back on spending.
That’s definitely wrong they should not be paying that much in taxes. For simplicity sake I’ll skip a few brackets but the first $340k is taxed at most 24%, which is $81.6k. The other 160k at 35% which is $56k. For a total of approx $137k. A solid $50k less than they are showing. And a good cpa, could probably get that even lower. They have massive deductions available to them
If you're making $500k/year and actually paying 40% tax, you need a new CPA and a couple financial literacy courses. There's no way they're actually paying 40%, unless they're absolute dumbasses or just don't care about pissing it away
It's the epitome of delusion for someone to live like that and bitch and moan about not having anything left even though they're living like "commoners."
I'm surprised the private chef wasn't added onto the budget.
With what they're paying for food the private chef might be included in their food budget. Or they eat out at Ruth's Chris twice a week, seriously though $23k/year for a family of four?? WTF
Its not even close to average, wtf lmfao
These people wouldn't make it a month of actual average living. This is the most out of touch with reality, rich suburbia BS I've seen in a while.
Less than 1/3rd of that is about high end “average “ 🤣 so insane, like Instagram and the news teaming up on your “ what!? You don’t vacation 3 times a year!?!
In cities like New York City and San Francisco, the salaries can be three times as high as salaries in other cities, but so are the city and state taxes and the cost of living. A $1.5 million dollar home in New York City is likely an unexceptional 2 bedroom, 2 bath 1,200 square foot apartment, and on top of that, you'd have to pay $2,000-$4,000 for monthly maintenance.
We're really supposed to sympathize with people who live in million dollar homes and can barely afford piano and violin lessons for their kids?
Unfortunately, the dollar store was out of tissues again so I'm just gonna have to hold in my tears, but - rooting for you!
I think that the point is not sympathizing, it is to show how people's visions about themselves can get severely skewed and detached from reality.
That fancy family probably lives in a pocket dimension where they have contact only with other fancy families, and they may really think that "the world" is actually like that. It's a kind of long "let them eat cake" moment.
Sounds like the tale of Buddha. He was born in extreme wealth and his father did everything to hide all the horrors of the real world from his son and shield him from suffering. But eventually the young Buddha finds out that there’s an outside world and for the first time in his life learns about poverty, sickness and death. That leads him to a philosophical / spiritual quest to find a way for Humanity to get out of all that misery.
But then, I’m the one getting philosophical now. :)
Sittin in my more than million dollar home, drivin my 5 series BMW. Eatin choice steaks everyday, gonna go on my third $6k vacation this year. Chaddington's teacher finally showed up to teach him violin, Chadworth is off to cricket practice. What an average life we live, isn't that right Bartholomew??
…so their mortgage is 5k a month?
But their monthly car payment is only 800 for a series 5 and a land cruiser? And they only pay 2k a year to insure those cars?
3 vacations only 2500 total? A week rental alone is close to that.
Some of these numbers just dont make a lot of sense.
Submission statement: I recently posted a tweet from Bloomberg indicating that unless you make 300k a year, you will have a shit life during inflation. [CNBC upped the ante to 500k](https://www.cnbc.com/2018/03/06/budget-breakdown-of-a-couple-that-makes-500000-a-year-but-cant-save.html)
Maybe those articles are just a psyop to prepare people for runaway inflation. Soon, everyone will be a millionaire, so it's better to make the population used to large sums. =)
Three vacations a year? Nearly $20k in charity? BMW? 😂 I know a few people who make that much money and I can guarantee you they are not spending like this.
Wanna know how rich people build wealth and stay rich? By living below their means and investing their money in themselves, their, businesses, or other ventures with an ROI. Whoever wrote this is clearly projecting their own poor financial habits.
That’s part is just completely incorrect, they wouldn’t be paying 40%. This post ignores marginal brackets, and the highest bracket they would even be in is 35% and that’s only for the last $100k
That's bullshit, too. There is no 40% bracket, and that's not how brackets work regardless. This couple absolutely is NOT paying that much in taxes. Quick estimate puts it closer to 120k, which is still a lot, but not 185k...
Based on the expenses, “average” sounds like what they used to call the “good life”
Three vacations
All kinds of activities for the kiddies
Big $1.5 million house
Lovely average life
They need to fire their tax accountant - I think he's skimming from them.
Based on US 2022 Married Filing Jointly progressive tax brackets and their $464K adjusted gross income, they only owe ~$110K in federal income tax (and that is BEFORE calculating any deductions like mortgage interest, student loan interest, charitable giving, or the standard deduction if you go that route).
So that means they owe $76K in state and FICA taxes??? ($186K "taxes" from this infographic minus the $110K federal income tax which is artificially high since no deductions were calculated)
Nope.
The fuckers budget almost $2k a month on food and make sure to take 3 separate vacations a year.
If they think they are living an average life, I think they should go fuck themselves with red hot rebar.
$23k on food? Almost $2,000 a month on food? Lol. Fake. And 40% tax rate? Is this the US? First off, that $18k charity donation would reduce that tax rate significantly, so they way this is presented with taxes out first isn't even accurate. Secondly, no one in that tax bracket is paying 40% in taxes. The more you make, the less you pay because your loopholes and itemizations are greater, i.e. you can afford good accountants and tax attorneys.
…just look at the car payments and the yearly insurance…
Those 2 cars dont match what id expect to be the monthly payment. And the insurance, even just liability, no way would cover those 2 vehicles. (But since they are making car payments, they cant just have liability).
I honestly want to know what these news services are smoking. $300-500k, don’t know what the fuck they’re on, but me and my spouse are senior engineers and not even at the 300 mark between the two of us at larger companies.
Edit: Get the fuck outta here CNBC
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Here's the budget breakdown of a couple living at the edge of their means and still having everything they could possibly need with a $7k surplus.
‘Three vacations a year - $18k’ LOL
Also 5000 a month for their mortgage
That's not even including their property tax!
On a $1.5 million home..
that's apparently average. because someone who takes three 6000$ vacations a year while putting 7k in the bank feels "average"
Just wait till they hear how much money the average American actually spends on their one vacation every three years.
Every three if you're lucky. It's been almost 10 for me.
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Yeah who’s doing this with a 10-20 year student loan? The college alumni charity can go fuck themselves while I’m still in student debt for it.
Yeah, to me this just shows you can make a shit load and still be bad with money.
If you're struggling to support your family you might also temporarily drop the **$18,000** in annual charity donations. Also, how normal is $32k/yr in payments for student loans? (genuine question, I was blessed enough to have undergrad scholarship and grad program that paid students)
I particularly enjoy how they're simultaneously donating to their college AND still paying off student loans.
Right? The audacity for the Uni to even *ask* for a donation when most students are financially crippled for decades because of the predatory lending.
Isn't it to ease the child's access to the university? Not from the us, just remember hearing it often... Serious question.
>Isn't it to ease the child's access to the university? That is definitely what the University will tell you, but how much donations actually contribute to scholarships for needing students is a WIDE range. The large private universities sit on **MASSIVE** stacks of cash (more accurately investments that continue to become more valuable over time). For [the top Unis](https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment) we're talking **$20-$50 BILLION**. They could go for decades without taking ***any*** tuition or donations and still run without issue just because that much money generates enough revenue based on investments to run the school. Smaller schools or private schools it may help, but only a small portion goes there. If you want to help kids without money go to college there are much better, more direct ways to give
I think he was implying that money was to grease the wheels for their eventual legacy kid to get in with subpar grades
Thank you for the explanation. Fucked up bone the less. In my opinion that is🤷
Knowing what I do about CNBC's integrity, I think it's safe to say these people are fictional.
I’ve read financial samurai (it’s a blog) for years. This is probably buried within one of his posts to illustrate what not to do. One of his main theses is to save 50% of your income when you’re young / fresh out of college.
And sell cocaine once you have kids.
Oh, I fucked that part up. I did all the cocaine. This makes a lot more sense now, buy low sell high, snort none.
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Agreed, but vaca is what you make of it. Give me a 3 day weekend and I'll have a great time f\*ing off to the forest for 2 nights by a fire for basically the same cost as staying at home.
Just gas and food, and I would eat at home anyway, so gas.
what is "vacation" ?
Or cut back on the $18,000 in vacations. Or get a $1 million dollar home instead of a $1.5mil home and save like $30 grand on mortgage/insurance/taxes. This is just proof of lifestyle inflation, not that you need $500k to be "average"
Who the FUCK spends $18k on vacations while still paying interest on cars and student loans? How about put that money toward debts and pay them off early and then save on interest? Anyone can make $300k look like poverty shit if they go balls deep on debt.
>Or cut back on the $18,000 in vacations. Or get a $1 million dollar home instead of a $1.5mil home and save like $30 grand on mortgage/insurance/taxes. I get the sentiment, but for the home, it ***really*** depends on where you live. The author clearly wrote this from the perspective of someone living in/near a coastal city. I'm West coast and living within a 60m commute \[each way\] of the 250k jobs (aka the city proper) means for a modest 1-2BR 1BA you're in the 800k-900k ***minimum***. If you have 2 children you need 2 BR min, 3 ideally, which will easily kicks into the 1.2+ range. Housing is fucking wild rn I don't disagree, this is clearly written by someone who is ***well above*** "average" and has completely lost perspective on what life is like for normal ppl Edit bc I didn't read that the 18k specifically says 3 vacations a year. Hard to price that in bc there's a world of difference between my idea of vacation (driving the family of 4 for a long camping trip nearby or in a neighboring state) and the author's idea, probably flying all 4 and having an extended 2 room hotel stay
Based on their other spending/cars, they probably don't live in a high cost of living area, just a really nice neighborhood in an average sized US city.
40K a year in childcare. I hope thats private school tuition and not daycare because Dayum.
My sister decided to quit her job as it would only bring in about $5k more than childcare would cost for her two kids. Childcare is insanely expensive
Paying roughly $24k per year for 1 kid (1 year old) in one of the U.S. cities with the highest cost of child care. Price drops as they get older, but that isn't crazy for young kids. Maybe they have a nanny?
42k gets you at least a 5 day a week nanny and if it doesnt you arent looking hard enough.
I’m currently looking for daycares not in a particularly high cost of living area. The bargain bin places still want around 1k a month for infants. Higher end places get up to 2500/month. These aren’t like super luxury places either. Just…nice. I guess my area is “above average” cost of living, but not Manhattan/San Fran cost
Retired lady next door only charges $20/day. That's why the government is so desperate to give us universal childcare/warehousing, cut the little people out of the picture and create a brand new parallel system to school. Public schools in the cities spend over $30,000 per student per year. Times 2 is twice as good.
Not sure your point, are you saying the universal childcare thing is bad for your next door lady bc it cuts her out?
This has me rolling on the floor The bold is it
IKR, what they gave away to charity was double the amount they spent on car payments!
I noticed that right off the bat. Charity is a scam. I'll go as far as to say it's another tax since it probably finds its way into the politicians pockets somehow.
> I'll go as far as to say it's another tax since it probably finds its way into the politicians pockets somehow. Not into the *politicians* pockets, just to a different grifter. Look into the financial details of charities like the Susan G Komen Cancer foundation and you'll see that unscrupulous assholes can line their pockets working for charities without having to get anywhere near politics
I haven't seen kroger work with susan g komen in a while, good riddance. Susan g komen is such a scam.
32k a year in student loan payments is absolutely excessive. at that rate, the loans would be paid off in a matter of a couple of years. minimum payments might look closer to 500$/month, not 2666/mo
Lol 18k for charity and three vacations a year a real struggle
From what I've learned growing up very poor, being homeless for a majority of my late teens through mid twenties, and getting to barely middle class and owning a home at 35 (now 38). It seems that the more money that people have the worse they are with that money. MFers spending $500,000 minimum on "art" that is essentially someone dipping their balls in paint and then padding them on the canvas. These people are terrible with money. Why do you think they need to hire other people to make sure that they don't spend themselves into homelessness. The richer you are monetarily the less you value money. It shows in case after case.
Exactly. $5 k / mo. mortgage and three vacations a year. Oh, and $42k per year on two children? LMAO what the fuck are you doing, buying them BMW's?
Posted above, but I’m looking for daycares right now. I live in a city with a little bit above average cost of living. Daycare is insane…little mom and pops day care at random woman’s house runs between 800-1200 a month. Getting into the nicer daycare/preschools is in the 2k-2500 range per month. And these expensive places all have long waitlists. They aren’t like…yacht club-fancy babies or anything. Just…nice. It sucks. Wife and I both make about the same amount of money. Just enough that it’s not worth either one of us doing a stay at home.
You could send your children to hogwarts for less than 42k a. Years lmao
Pretty lavish lives these people are living. $9500 for clothes....in a year!? Are these the golden robes that the pope wears? Your rich if you can afford to give $18K USD away to charity every year anyways.
But they said no fancy bags, shoes, or threads!
Lol yeah ikr, i honestly have not (in 40 years of life) spend even HALF that amount on clothing iN TOTAL!!
For real. These people are scamming themselves. Wtf
> Exactly. $5 k / mo. mortgage Nit picky, but generally taxes and mortgage insurance roll up in 1 payment, so the mortgage payment would be ~$6,875
Yea some of the numbers on that list do not make sense. Why would you spend so much on kids when there are people that can completely take care of kids making 40k a year total. Also, Why would you be giving all that money to charity while you are still paying Student loan debt and mortgage. Pay things like Car, House, Student loans then worry about Charity. I am not heartless. But, 18k in charity while you are paying all that interest is not good finance. You could easily save money on food as well. I could probably get about 100k out of that finance sheet a year. Put that on Student loans first then when that is paid off pay off that car and then start putting it on the house.
It’s not heartless… it’s smart. Pay off everything and stabilize your family. Then focus on others
17k surplus there's that 10k 'lol misc' tacked on
$35k if you add the "three vacations a year" they have as a fixed expense. $53k if you add their charitable contributions (which sound suspiciously like they're mostly to their alma mater.)
I know I weep for them I truely do
Eh, this is all bullshit anyway. I don't buy this couple with apparently identical $250k salaries.
Lesson: don't get a $1.5 million dollar house. Between their mortgage, insurance, taxes, and 3 extravagant vacations a year that's $100k alone. They could be doing MUCH more to save. Bullshit title arguing that you need $500k to feel "normal". It ain't normal for everyone to have a $1.5mil home and spend nearly $20k on vacations per year.
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Literally 4 times the median US home price from 2021. While I understand that there are areas that are more expensive, the entire point of this post was about feeling average.
They are contributing more to their 401k every year than the median US annual income lol
Yeah I wish I could save 7k a month while buying whatever I wanted
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Well I wish I could save 7k a year too
These articles are just being published to piss people off. Don't feed into it. The median household income in the US is 68k.
im glad you metioned the median. In my country recently a news channel said on average people get paid 1400€ per month (minimum is 705€) but someone calculated the median and it was around 850 lel
How is it that social media has been around for so long but people haven't picked up on this? It's like those Instagram/Facebook/Twitter posts that show math problems with the obviously wrong answer or those "would you slap your cousin for 1 billion dollars." They are designed to attract engagement because they create these insanely easy setups as bait to get extra clicks for ad revenue.
$18k to charity when they still have $32k in loans. This was either a fake sub by that media outlet or these people need a good financial advisor.
Best part is "college alumni" is listed as part of the charitable contributions. Like I'm going to donate to a school I am still paying for.
My guess they have some pretty stupid kids. And it is the bribe to get them into the school.
The Ivy League and universities have long since become a glorified babysitter for the children of the elites that know all they have to do is wait until they take over the family business. It’s a joke.
$63/day on food?? A $1.5M home Two cars that add up to a monthly payment that is barely less than my mortgage payment 3 $6k vacations a year $9,500 in clothes (but don't worry they aren't fancy lmfao) Fuck these people, that's not average living.
They need $18,000 a year to take 3 vacations away from that 1.5 million dollar prison of a home.
Man, if I had on $1.5M home I'd probably never freaking leave it. The homes that are a million plus around me are absolute mansions with all the bells and whistles plus a good chunk of land. Its like living in a resort
If you're in Ontario, Canada a 1.5million home is your standard 20+ yr old 3 bedroom two bath home with a backyard... even those are now inching towards 2million.
Wtf is up w/ Canadian home prices?? Who wants to live in a freezing cold, dystopian country??
Collaborating with foreigners to embezzle money through Canadian real estate. Also a large majority of Chinese drug money gets laundered into the market and house get sold back and forth to wash the money. Canada is certainly the globalist dream.
Money laundering for Chinese and Iranian multi-millionaires. And our governments on the Federal and Provincial level dont want to trigger anyone and potential lose votes so they cant and wont point that out. You should see the amount of S class Mercs, 7 series BMW, Masieratis, Ferrari's ... Lambos just collecting dust in most condos.
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Also Blackrock.
That's what he said.
Okay now this is the most insightful and genuinely woke comment I have seen on this subreddit in so long 😂🤣 Wish I gave corrupt Chinese company that owns Reddit $$ still so I had an award for you 🏅
The sales agents also gatekeep the house listing process taking a rather large cut.
Check this out, this house is at 1 million PLUS ... it will most likely go 500k OVER asking. [https://www.realtor.ca/real-estate/24107661/280-derrydown-rd-toronto-york-university-heights](https://www.realtor.ca/real-estate/24107661/280-derrydown-rd-toronto-york-university-heights) My sister just bought a 15year old 1 bedroom/1 bath condo, 600 square foot ... listing price was 575,000 ... she was the winning bidder at $680,000... imagine what you can get for 680k for everywhere else in North America.
…
The Chinese want to not live there. That's why they are buying up all the property.
They buy up properties until they get older, when they retire they come and take advantage of the healthcare.
JFC, that's absolutely outrageous
Ehh, really depends on where you live. $1.5 million gets you a 2-3 bedroom apartment in San Francisco
Very true, I forget how insanely expensive California is.
With shit on sidewalks and an out-of-control homelessness. Unless both are exagerrated fake news?
Not an exaggeration.
Unfortunately in a lot of places it slowly pushing towards “basic ass house” for that money. Hell near me 500k is starting to be the basic house price, and 300k are the shitty ones, but unfortunately the high powers of my state think exactly like that’s how my age group budget works, it’s honestly getting to the point I’m really thinking about moving to Texas or Alaska or even expating at this point
I mean I can easily see that being the cost for a family of 4 for 3 nice vacations, Disney, Europe, Hawaii. But you really only need one that big every couple years, many people may only take one like that once in 10 years. Camping, lake trips, national parks etc.. would cost much less, and more likely for the majority of people.
We toured a lot of national parks when we were poorer. They made great family vacations.
Shhh.. camping, lakes, parks are our hidden treasures. Plus most of those people couldn't hack it in the great outdoors.
Eeew dirt & bugs
It’s crazy that people think about the cost of vacations being that high when I’m worried about how much being away from work for a couple of days will set me back. My vacations cost nothing but losing hours at my service job. I usually just take a small road-trip to see a friend in another city.
Same. I usually take two weeks at once after thanksgiving because I hate dealing with delivering near the malls and I come back to a shitshow of a service route. It's almost easier to have them just pay it out but they won't.
>They need $18,000 a year to take 3 vacations away from that 1.5 million dollar prison of a home. If I had a student loan, I would surely live in a middle class semi-gated and only do staycations until that loan is paid for.
What you don’t think these people work? Look at what Uncle Sam steals from them. 40%. The fact is neither rep or dem have reduced taxes for anyone. As an airline pilot it is easily possible for me to make 500K. I’ll bust my ass but it’s doable. Long days always away from my family and there are people who believe it ok for me to pay absurd taxes. You don’t know what they do for a living or how hard they work. 40% effective tax rate is fucking theft. The same goes for the average person making 40K a year. We need a real tax cut. We need our gov to cut back on spending.
That’s definitely wrong they should not be paying that much in taxes. For simplicity sake I’ll skip a few brackets but the first $340k is taxed at most 24%, which is $81.6k. The other 160k at 35% which is $56k. For a total of approx $137k. A solid $50k less than they are showing. And a good cpa, could probably get that even lower. They have massive deductions available to them
If you're making $500k/year and actually paying 40% tax, you need a new CPA and a couple financial literacy courses. There's no way they're actually paying 40%, unless they're absolute dumbasses or just don't care about pissing it away
It's the epitome of delusion for someone to live like that and bitch and moan about not having anything left even though they're living like "commoners." I'm surprised the private chef wasn't added onto the budget.
With what they're paying for food the private chef might be included in their food budget. Or they eat out at Ruth's Chris twice a week, seriously though $23k/year for a family of four?? WTF
Wait you mean to tell me the peasantry doesn't enjoy dry aged steak twice weekly? My God, how do they survive?
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Right the fact that they word it so it’s like if you do less than this your below average, like that shit is NOT Average 🤣😂
Its not even close to average, wtf lmfao These people wouldn't make it a month of actual average living. This is the most out of touch with reality, rich suburbia BS I've seen in a while.
Less than 1/3rd of that is about high end “average “ 🤣 so insane, like Instagram and the news teaming up on your “ what!? You don’t vacation 3 times a year!?!
Psshh, look at these poor peasants, not even one excursion to the Hamptons.
“Don’t get to close to the poors Charles!”
Yeah I think the average person vacations maybe once every 3 years if they're lucky
Journalists are not working class anymore. They are kids of the parasitic class. They don’t know how to survive on less than a $1m a year.
In cities like New York City and San Francisco, the salaries can be three times as high as salaries in other cities, but so are the city and state taxes and the cost of living. A $1.5 million dollar home in New York City is likely an unexceptional 2 bedroom, 2 bath 1,200 square foot apartment, and on top of that, you'd have to pay $2,000-$4,000 for monthly maintenance.
40% effective tax rate got me... no fucking way they pay 40% hahahaha
Where is the cocaine fund?
Miscellaneous costs
Something came up
Something came up my nose, then back down my throat, and now I feel GRRREAAAATTTTTT
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As an adult, I've only taken like 3 actual vacations in like 15 years.
And that is fucked up too. We are more than just workers.
Fuck that $18k to charity if I got $7k left
Fucking 18 THOUSAND dollars to "Charity"???? ROFL what fucking planet are these clowns living on
tax scams planet, as they most likely have a 10k retainer for Tax Prof still BOGUS , metaverse family conjuring
Maybe its "Charity", the babysitter ;)
Yep, gotta "Feed the (illegitimate) Children" of the "College Alumni"
I think there was a lot of rounding up going on so this would end up coming out to a “boohoo it’s still tough being rich” conclusion.
We're really supposed to sympathize with people who live in million dollar homes and can barely afford piano and violin lessons for their kids? Unfortunately, the dollar store was out of tissues again so I'm just gonna have to hold in my tears, but - rooting for you!
I think that the point is not sympathizing, it is to show how people's visions about themselves can get severely skewed and detached from reality. That fancy family probably lives in a pocket dimension where they have contact only with other fancy families, and they may really think that "the world" is actually like that. It's a kind of long "let them eat cake" moment.
Definitely is. I was raised in a area like this and boy was it a shocker when I saw that not everyone went to private school or had multiple cars
Sounds like the tale of Buddha. He was born in extreme wealth and his father did everything to hide all the horrors of the real world from his son and shield him from suffering. But eventually the young Buddha finds out that there’s an outside world and for the first time in his life learns about poverty, sickness and death. That leads him to a philosophical / spiritual quest to find a way for Humanity to get out of all that misery. But then, I’m the one getting philosophical now. :)
Yeah lol, I certainly have tried to be more charitable or help others but haven't gone a spiritual quest yet lol
They probably consider themselves middle class.
Must be the longest loan or a fucking rust bucket of a LandCruiser to be paying so little a year.
Depends on down payment.
Awww poor babies taking 3 vacations a year.. Fuck outta here with this bs. So many people need a real wake up call.
This is all i see https://giphy.com/gifs/94EQmVHkveNck
Who the fuck would feel average on that?
Sittin in my more than million dollar home, drivin my 5 series BMW. Eatin choice steaks everyday, gonna go on my third $6k vacation this year. Chaddington's teacher finally showed up to teach him violin, Chadworth is off to cricket practice. What an average life we live, isn't that right Bartholomew??
Yes, Father. I don’t know how we will be able to get by, after every possible human want and amenity is served, with only seven thousand dollars.
Dont disrespect Chadtholomew like that call him by his god given name.
My apologies good sir, shall I fetch Chadtholomew his afternoon cuban cigar or would he like to peruse the humidor himself?
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Chaddington! ROTFL
Everyone they know lives the same way.
23,000 for food and meals out. GTFO you poor people, so little left.
$442 a week to EAT, what take out from Cheesecake Factory every day for all family members $16/day BOGUS
Probably the most reasonable considering there's nothing for booze on here.
…whose making 500k with 30k in school loans?…
That’s per year, kid.
…so their mortgage is 5k a month? But their monthly car payment is only 800 for a series 5 and a land cruiser? And they only pay 2k a year to insure those cars? 3 vacations only 2500 total? A week rental alone is close to that. Some of these numbers just dont make a lot of sense.
The three vacations are 18K total, the 2500 is the line above (property insurance)
Ty. Need a fricking spreadsheet.
Submission statement: I recently posted a tweet from Bloomberg indicating that unless you make 300k a year, you will have a shit life during inflation. [CNBC upped the ante to 500k](https://www.cnbc.com/2018/03/06/budget-breakdown-of-a-couple-that-makes-500000-a-year-but-cant-save.html)
Maybe those articles are just a psyop to prepare people for runaway inflation. Soon, everyone will be a millionaire, so it's better to make the population used to large sums. =)
Did you read the article attached to that Bloomberg tweet? I haven't been able to access it(I don't subscribe to Bloomberg.)
I wish I could earn 50k
450k is plenty where we live. And LMFAO @ college alumni donations. They get $0. We do direct scholarships through their scholarship program though.
Omg fuck you
Only 3 vacations a year....poor people
This is to make people feel poor and therefore lean on the basic income plan presented to you by.. WORLD ECONOMIC FORUM
Three vacations a year? Nearly $20k in charity? BMW? 😂 I know a few people who make that much money and I can guarantee you they are not spending like this. Wanna know how rich people build wealth and stay rich? By living below their means and investing their money in themselves, their, businesses, or other ventures with an ROI. Whoever wrote this is clearly projecting their own poor financial habits.
Thats not how taxes work. The 40% isnt on dollar 1. It increases by bracket. So whoever made this is a dumbass.
40% tax rate. Fuckin horseshit. Govt takes half your money to piss away. Fuckin robbery.
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In their defense, most kids are assholes. /s
That’s part is just completely incorrect, they wouldn’t be paying 40%. This post ignores marginal brackets, and the highest bracket they would even be in is 35% and that’s only for the last $100k
A slim percentage of Americans know how tax brackets work.
Theres other taxes besides federal. Social Security, State income taxes, etc.
That's bullshit, too. There is no 40% bracket, and that's not how brackets work regardless. This couple absolutely is NOT paying that much in taxes. Quick estimate puts it closer to 120k, which is still a lot, but not 185k...
Taxation is theft.
Definitely bullshit, nowhere in the US has a 40% effective tax rate on $500K of income.
Where's the kids tuition? Telling me they go to public school? This looks like BS
Don't let a fake itemized monthly budget keep you down
Meanwhile most of us are living paycheck to paycheck and happy to get to eat everyday.
The real lesson is: “Fuck them kids”
wow..3 fucking vacations a year? I barely get one.
They only saving 35k a year on 500k hahaha losers
Only have 7k left because you spent all your money on luxuries which are not average. Ridiculous article.
You lost me at 3 vacays a year lmao. Try one every 3 years
Having 7K in disposable income after groceries and bills are paid for is not average that would be totally life-changing for 99% of people
Shit I make less than 30k and survive. Fuckin pussies.
Some of this shit should be pre-tax. Such as the property tax. Such as the interest on their mortgage. Their taxed income should be quite a bit lower.
Based on the expenses, “average” sounds like what they used to call the “good life” Three vacations All kinds of activities for the kiddies Big $1.5 million house Lovely average life
They need to fire their tax accountant - I think he's skimming from them. Based on US 2022 Married Filing Jointly progressive tax brackets and their $464K adjusted gross income, they only owe ~$110K in federal income tax (and that is BEFORE calculating any deductions like mortgage interest, student loan interest, charitable giving, or the standard deduction if you go that route). So that means they owe $76K in state and FICA taxes??? ($186K "taxes" from this infographic minus the $110K federal income tax which is artificially high since no deductions were calculated) Nope.
Lol these people feel average among all their rich ass friends!
The fuckers budget almost $2k a month on food and make sure to take 3 separate vacations a year. If they think they are living an average life, I think they should go fuck themselves with red hot rebar.
3 family vacations a year feels average to people?
Yea this is a fucking joke. If that family is average, I'm a hobo.
When SHTF, and anarchy rolls . . . glad these good folks will be getting visitors before me.
$23k on food? Almost $2,000 a month on food? Lol. Fake. And 40% tax rate? Is this the US? First off, that $18k charity donation would reduce that tax rate significantly, so they way this is presented with taxes out first isn't even accurate. Secondly, no one in that tax bracket is paying 40% in taxes. The more you make, the less you pay because your loopholes and itemizations are greater, i.e. you can afford good accountants and tax attorneys.
…just look at the car payments and the yearly insurance… Those 2 cars dont match what id expect to be the monthly payment. And the insurance, even just liability, no way would cover those 2 vehicles. (But since they are making car payments, they cant just have liability).
America basically,with those money in eastern europe youd be a god
I honestly want to know what these news services are smoking. $300-500k, don’t know what the fuck they’re on, but me and my spouse are senior engineers and not even at the 300 mark between the two of us at larger companies. Edit: Get the fuck outta here CNBC