Do You Make $400,000 a Year But Feel Broke?Found this while perusing another elitist article from the WSJ posted
here. My head exploded; this is why some people want to bring back the guillotine. So I'm obviously not from Chicago (not sure how "Chicago" is defined here), but it certainly isn't NYC. With that being said, let's walk through the video's assessment of just how hard life must be for
someone making $400,000 per year who is married with two children:
I'm not going to dispute the cost of the home (though $1.2 million for that seems a bit ridiculous anywhere outside of the core of the city),
but apparently feeding a family of four costs $575 per week. In addition to that, utilities are assessed at $1,200 per month. Really? In addition, home maintenance costs are assessed to be $25,000 per year, which, for a house that large may be reasonable, but still seems absolutely ridiculous. All in all, this works out to $190,000 per year for a house and some food.
And here come the discretionary expenses, which gets even more ridiculous.
Two vacations rated at a total cost of $25,000 per year. A new $60,000 car every four years means $15,000 per year in payments. A $10,000 entertainment budget, or $200 per week for whatever.
Oh, and don't forget the "club dues", which will cost you $12,000 per year. Now, we're up to $252,000 in income gone.
Oh, and the kids - don't forget about the kids!
If your kids want to be in sports, then be prepared to fork over $10,000 per year for them to play with a ball. An additional $10,000 per year will be allocated to the children's 529 account (which seems ridiculously low considering justification of other expenses). Holiday gifts for the children? Well, that'll be another $6,000 per year.
Kids bring home a catalog for a fundraiser where they'll win some cheap plastic stuff from China for selling the most? Pull out that checkbook - another $5,000 per year! All in all, this works out to $283,000 per year, which is what you'd earn after taxes."How can you make $400,000 per year and feel like you're just barely getting by?"Apparently, by being an idiot.
WHAT IS THIS
