A half million dollar income isn't enough

I live on less than 15k USD a year and my country has vastly higher living costs than America.
People spend so much fucking money on meaningless status items and shit they don't even use or enjoy.

You'd know better if you were an upper middle class suburbanite

Why do people donate to their alumni? You already paid through your nose for your tuition.

My sports cost 30 euro a month.
My three vacations a year cost around 1500 euro per vacation.
My student debt costs me 125 euro per month.

Only just noticed
>food for four
>23k
Fucking lmao.

Tax deductions, desu.

Thats a full vacation. A weekend away is a lot cheaper of course.

>$5000 a year on gas
Most of the others can be explained by frivolousness with money, but how do you explain this one?

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And who the fuck spends 18k on vacation, god I hate rich people

Americans are Free so they pay more.

I fucking hate this shit, just stupid boomers being out of touch as usual

>college alumni fund
Yup, doesn't get much more boomer than this.

I think those are only the payments for Kindergarten, private schools and such.

>3 vacations per year
I bet they work for the government

+tip (to the medical industry)

No matter how much you give them, it will never be enough

Also, why their gas expenses is so high? What's the point of buying an expensive house and still spending so much on commuting?
this, my country's average is like 1000/year while being of the most expensive in europe

twitter.com/cnbc/status/1110367275406815236
Comments are a funny read.

>going on dates bi-weekly
>buying a new car as soon as you pay off your old one
>3 vacations a year
Frivolous spending. Seek professional financial guidance.

>9500 on clothes
>12000 on "lessons"
>18000 on charity
>18000 on vacations
>9600 on car payments
>OMG why are we so poor
Kill the rich

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don't forget
>$42k childcare for two working professionals
>date night (read: restaurants twice a month)
>$500k income, can easily afford $1.5m house
>easily paying off student loans on top of this
>can still save $7k/year

they both work so they pay for professional daycare so neither of them take the career hit so they can continue to earn more money
rich get richer

don't forget tutoring for 4 hobbies/skills

only two cars but otherwise would agree fully

most certainly going to be private tutoring for around two hours a day at $1k/mo

They seem to be outsourcing their childrens upbringing.

Spending lavishly on your children is dumb because studies have shown that life outcomes are mostly genetically determined.

For 30 euro per month I can get unlimited training at the same clubs and trainers of world champions lol.

Sounds about par for the course with the rich. People are financial investments, not emotional investments.

I honestly can't wait until these retarded boomers are extinct, how can you be so stupid

They are saving 43k per year (18k each to their 401k, which is a tax-deferred retirement savings account)

>hypothetical with 2 school age kids and significant student loans
>OMG boomers at it again

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yeah it's honestly stupid, I can only imagine $500/mo per child is going to at least 40 hours a month of high quality one on one tutoring

yeah you're right, should have phrased it as still having $7k unallocated money a year

These mid-level workers are crunched to death with deadlines. No time to raise a child. That's what school, tutor, music education, sports teams, babysitters and nannies are for. You can connect with your child during commute. After 16, when they get their own car, they drop lff your radar, tho.

t. boomer

they're all like this, braindead manchildren who don't know how money works, must be the liberals faults though

>implying this is based on actual case and not some boomer "reporter" pulling it out of his arse

Plus whatever is stashed away off the books in tax havens. Wonder if the Cayman Islands is on their annual holiday roster.

What studies?

Land Cruiser.

Boomers are retired

imagine having a mortgage even with 500k salary

That's what I'm thinking.
Why do people always have to live at the very extent of their means?
I would just save a few years and pay cash for a much cheaper house.

>Owns a BMW
>Takes three vacations a year
>Average

Are rich people really this disconnected?

They're between 55 and 73, lots of them aren't

But the average American is $500 away from being bankrupt.

>Childcare
The only thing children need is food and clothing. Nothing else. It shouldn't cost $42k a year.

>Food for four (includes date nights)
You wouldn't have to spend a single dollar if you just had a farm and raised your own animals and grew your own food.

>Mortgage
Preventable, don't buy a McMansion in the first place.

>Property taxes
Also preventable by not buying McMansions.

>Three vacations a year
Unnecessary.

>Car payments
Having a car in the first place is a shitty financial decision. Preventable.

>Children's lessons
Unnecessary spending. You could teach your child anything for free with the internet.

>Charity
More unnecessary, pointless spending.

>Student loans
Should've paid them off earlier. Also idk how it is in other places but the average cost of college after aid here is about $13k. You could easily pay that off within 1-2 years if you're smart with your money.

Most of this is just being stupid with money.

Does it really matter for them?

Not all of them, some are even taking part time jobs because they're "bored".

Imagine still not having paid off student loans with a 500k salary, lmao.

Here the government taxes everything you own, but you can get a tax cut on your mortgage. So people always ensure they have a mortgage. For a long time a lot of people didnt pay off their mortgage at all, but just paid the interest and deducted it from their taxes, but not paying anything off is now illegal for everyone who isnt a boomer.

The example in the op just overspends on everything.
They could feel "bank rich" if they weren't so dumb with their money.

Unfortunately a lot of them are holding onto their upper management and other high paying jobs to prevent younger people rising through the ranks.

They'll die off within a decade or two.

what is the purpose of this?

Many are hanging on to their houses too, the ones they bought for $20,000 that are now worth $250,000.
My house has barely increased in value at all in the last 10 years.

>40% effective tax rate
This isn't even true in the Netherlands.

I wonder who might be behind this post...

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Money, boredom, or power, and maybe they like working.

My friend sells trucks to many Amish, they always pay cash.

You'd think older cunts have no sense of creativity the way they act to the idea of not having to be at a workplace and be told how to spend half their waking hours.
Just the other day I had two women in their mid 40s to early 50s visibly distressed that I could spend an entire day on a computer. You know what they asked?
>Don't you have a TV?

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You don't have to live like the Amish. You can make a six figure salary working remotely from home. Only reason I mentioned farming animals is to save money on food (also it's much healthier objectively.)

>My friend sells trucks to many Amish

kek, I should add they don't drive them, they pay other people to drive their goods places

It is true if you earn that much. Although we solve that in the Netherlands by ensuring you're not an employee in the first place. Just start a business yourself and hire yourself to the company you work for. Then you dont have to pay certain insurances, then you can deduct lots of expenses and pay yourself a lower wage. And pay the rest out in dividends if you wish. Or not pay it out at all so you dont pay savings taxes.

t. tax law student

Americans have huge cars and long commutes.

>You wouldn't have to spend a single dollar if you just had a farm and raised your own animals and grew your own food
They'd probably earn a lot less if they did that. If you have a decent career, working more and buying your food is smarter than working less at work because you have to put so much work in getting your food.

>Many are hanging on to their houses too
This in particular is hurting our housing market here. These greedy old pricks bought their house back when it sold for three paddlepop sticks, a few dollars and some lint, now they are worth millions and they cry foul when people suggest they downsize and let younger people enter the housing market.
Old cunts in Australia only care about themselves, their property values and paying less tax towards social services for younger generations.

Who the fuck is telling these people to go out and take out a mortgage for a 1.5 Million home ( plus what tit takes to maintain it), a 5 series BMW and 3 vacations?
These people, when shit hits the fan and they struggle,are the ones who go around blaming everyone and everything but themselves for their collapse.

Kill all bourgeoisie

Nobody in this country earns more than 200k per year. From that point onwards you just engage in financial constructions and it's all just money which remains in the company while your shares become worth more.

You pay over 50% for all income over like 70000

Farming isn't as labor intensive. You can get a years worth supply of fish and veggies with something like an aquaponics system and you only have to put in 1-2 hours a day. And I'm sure you could do it in a city too if you had the right amount of space in your home.

Effective tax rate means the actual tax rate after reductions. Even among our richest few this always stays below 40% because of 'reasons'

If I had an annual income of 500k I could very easily afford a 1.5 million mortgage and a whole fleet of BMW's.
I don't think you understand how cheap housing can be with our current 1% interest rates.
In case you have a simple mortgage with 2% interest your first (and most expensive) payment will be 90k

I dont think Americans have our interest rates.

>Even among our richest few this always stays below 40% because of 'reasons'
tax them more and they'll go away

why the fuck are your loans so cheap? does nobody want to live in the netherlands?

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>40% effective tax rate
OOO SAY CAN YOU SEE

>three expensive vacations a year
>1.5 million dollar home that causes them 20,000 in taxes and 60,000 in mortgage
>10,000 a year for clothes for 4 kids
>12,000 for lessons
>18,000 for charity
This is straight up propaganda trying to tell us that being rich isn't living life on easy mod. Even with these retarded estimates having 7K left over every month is well above averag.

>we literally had a revolution for 18% tax rate
>We have 40% tax rate and no free healthcare and no advance public transportation system.

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I'm curious where the tax money goes

>>We have 40% tax rate and no free healthcare and no advance public transportation system.
Gotta finance the Military Industrial complex along with a global intelligence network somehow, without frogetting about the 30 billion dollars to your greatest ally somehow.
Honestly the USA died when Ron Paul didn't get the nomination.

People here pay off their debts. And the houses keep increasing in prices, so the bank always wins.

I love how they're ignoring the fact that not only is that the literal highest rate in only two places in the country, but that half the shit on that list is deductible meaning they're paying MUCH less.

This. Americans in general are very materialistic.
It's sickening to watch trailer trash buying iPhones and shit.

They also count giving 18k to charity as a fixed expense.

Exactly. Just look at how many storage lots we have filled with a bunch of shit we don't need.

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This just plain isn't true and you know it isn't true.

What the fuck do they do to make that much money? I was told STEM was the way to go, but here I am 10 years later only making 50k.

Probably live in California or wherever it's super expensive.

>This just plain isn't true and you know it isn't true.

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It's almost exclusively lawyers, doctors, and finance, or in some cases consulting. Keep in mind though that overall STEM is a much safer bet because everyone makes high five-digits, while in the fields above 90% make jack shit (except for doctors) while the other 10% make unimaginable money.

STEM alone is a meme, its way too broad to classify them all under the same umbrella.

Eh I think its true. Do you live in California or something?

What an absolutely retarded image.

Im bout to get a 401k this year, gonna put all the money I can into it then complain about how poor I am as I roll in the passive interest