The 1% grabbed 82% of all wealth created in 2017

[Italian_in_NYC 259]

45 minutes ago, bcking said:

Very average. My sister in Oregon was looking at daycare options in October. 1500 a month was typical (18,000). I'm sure places like Boston are worse.

 

Or, alternative, figure it's for private school which wasn't included in the list.

In my  neighborhood in Brooklyn (Williamsburg) you can't find anything for less than $2,200. And that's till 3pm.

[Italian_in_NYC 259]

38 minutes ago, charmander said:

I took that image from this site https://www.financialsamurai.com/scraping-by-on-500000-a-year-high-income-earners-struggling/

It is for NYC. I don't think the situation in San Francisco/Bay Area is much different. Pays well, then sucks back well too. Boston cheaper than these two but not far back on the list.

 

This budget is EXTREMELY accurate and credible.

Except for the $21k daycare. That's too cheap. I want to know where they send their kids.

[Steeleballz 7,550]

40 minutes ago, Italian_in_NYC said:

This budget is EXTREMELY accurate and credible.

Except for the $21k daycare. That's too cheap. I want to know where they send their kids.

 

   The median income in NYC is $50000. If a couple making $500000 ends up broke, that's from making poor choices, regardless of whether the budget looks accurate or not. People making $10000000 end up broke too. If you can only save $7500 a year and you spend $18000 on vacations and $12000 on vehicles, that's poor budgeting.

 

   Going from a google search, they really should be able to hire a nanny for less than $42K a year. 

 

[Italian_in_NYC 259]

43 minutes ago, Steeleballz said:

 

   The median income in NYC is $50000. If a couple making $500000 ends up broke, that's from making poor choices, regardless of whether the budget looks accurate or not. People making $10000000 end up broke too. If you can only save $7500 a year and you spend $18000 on vacations and $12000 on vehicles, that's poor budgeting.

 

   Going from a google search, they really should be able to hire a nanny for less than $42K a year. 

 

A nanny for $42k (with two kids) in NYC is pure utopia. And you want your kids to socialize with other kids, not spend the whole time at home.

$18,000 on vacations is not much at all with two kids. Four tickets to Europe cost $4/5k in the summertime. $12k for cars is reasonable. $1.5m in NYC gets you a mediocre 2BR/2BA.

Trust me, the budget is accurate.

[Steeleballz 7,550]

10 minutes ago, Italian_in_NYC said:

A nanny for $42k (with two kids) in NYC is pure utopia. And you want your kids to socialize with other kids, not spend the whole time at home.

$18,000 on vacations is not much at all with two kids. Four tickets to Europe cost $4/5k in the summertime. $12k for cars is reasonable. $1.5m in NYC gets you a mediocre 2BR/2BA.

Trust me, the budget is accurate.

 

  Several discussion forums from 2017 list $20 an hour for a nanny in NYC. Perhaps you have not done an exhaustive search? I hate to label all of those people as liars, however I haven't searched myself.

 

  I'm not saying $18000 a year is a lot for vacations or $12000 a year is a lot for cars,  I'm saying they should probably prioritize that spending when they have as much as half a million in student loan debt to pay off. The reason they have only $7500 dollars left is not because they aren't making enough money, it's because they are spending too much.

 

  When I was paying off my student loan, my car was an old beater and my vacations were cheap or none. I paid my loan off in 2 years. I could have bought an expensive new car and took vacations and paid my loan in 20 years while saving nothing too. I could probably list a budget for both of those alternatives that adds up, but only one of those budgets actually made sense in real life. To me, anyway. 

[Amica Nostra 4,803]

1 hour ago, Italian_in_NYC said:

A nanny for $42k (with two kids) in NYC is pure utopia. And you want your kids to socialize with other kids, not spend the whole time at home.

$18,000 on vacations is not much at all with two kids. Four tickets to Europe cost $4/5k in the summertime. $12k for cars is reasonable. $1.5m in NYC gets you a mediocre 2BR/2BA.

Trust me, the budget is accurate.

Not in Omaha Nebraska

[TBoneTX 45,292]

SIMPLIFIED IRS FORM 1040

 

Line 1.    How much money did you make last year?          $__________

Line 1a.  Send it in.

[jg121783 3,915]

6 hours ago, TBoneTX said:

SIMPLIFIED IRS FORM 1040

 

Line 1.    How much money did you make last year?          $__________

Line 1a.  Send it in.

You forgot a couple questions.

 

Line 2. Please check any of the following boxes that apply. This return is being filed on behalf of:

 

__General Electric

__Boeing

__Amazon

__Apple

 

Line 2a. If you checked any of the boxes on line two you have no tax liability.

[Voice of Reason 10,298]

On 4/3/2018 at 10:59 AM, JimandChristy said:

Vulture Capitalism at it's finest.

I’m curious as to what this has to do with the OP.  Can you elaborate on your thoughts on the subject?