![]() On paper, my partner and I earn a third (or less… if we are honest) of what they do when we actually work. Their income was $600,000 only doubled in the past 3-4 years.She spends $15,000 on her family annually to be generous.She spends about $1500 – $2000 on a purse, MAX.40% of their income goes to taxes – I wasn’t so far off with my 50% guess.Refinery29 posted an update entitled: My husband and I make $1.5 million and everyone thinks we should be happy all the time Let’s round it up to $900,000 to give them a break. We can now reverse engineer their net worth: They don’t mention how much this property is worth but if we assume they plonked down 20% and took the rest in debt: Mortgage On Investment Property: $400,000 REVERSE ENGINEERING THEIR NET WORTH We bought this property before we bought out house - something I think everyone who lives in an expensive housing area should do. ![]() Rental Property: We own a small rental property in addition to our home. Total Savings: ~$646,000 (Half is liquid and half is in retirement accounts.) You can click on this link to read what they spend their money on (expenses-wise that is), but the main line I want to point out is are these ones: Money Diarists: Living in Los Angeles, CA on a joint income: $1.5 million I am going to use these folks as an example to show you what I mean because I can compare them to our income (although we earn farrrr less than they do). So really, this post is about not having an excuse any more, and to start budgeting & saving your money…. YOU are in charge of this saving, fortune-wielding destiny (and some external factors like where you live, cost of living of course play a part. …but the main driver of how much you save is a good part, dependent on YOU. Yes, it does need to be a decent size but not insane You do not need to make a massive, huge fortune every year, to save a significant amount of money. I just want to use this as an example for everyone of all income levels to stop bellyaching about how they need to make a ton of money to get ahead. It is overwhelming for a busy parent who has a full-time job, a full-time blog and full-time family.) They take a long time and Refinery29 busts out like 3 – 5 a day so it seems. (By the way, I don’t have time to read all these Money Diaries so I skim the headline first. I think it is #%(*#%’ing awesomeshe and he make so much money together, and have an annual income of $1.5 million and they are my age. I AM NOT THROWING SHADE ON THESE MONEY DIARISTS I was reading a Money Diary the other day - Executive Director with a joint income of $1.5 million, and when I read their savings and other such notes, a light bulb went off in my head. Earning $1.5 million doesn’t necessarily mean more savings
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |