Author Topic: Down and Out on $250,000 a Year  (Read 1249 times)

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Offline Texacon

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Down and Out on $250,000 a Year
« on: December 23, 2010, 10:40:42 AM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x59788#59911

I'm going to put this up with no commentary.  It starts out good for our Heroine Hannah but .... takes a turn for the worst.  This is too good;

Quote
Hannah Bell  (1000+ posts)        Thu Dec-23-10 01:58 AM
Original message

Down and Out on $250,000 a Year
 
Edited on Thu Dec-23-10 02:05 AM by Hannah Bell

Here's the bullshit header:

$250,000 and poor

A family of four with an annual income of $250,000 may be in the top 2.9 percent of earners. But after taxes and basic expenses, they are far from the affluent family they may seem to be.

Here's the sob story:

The analysis assumes that this hypothetical couple – let’s call them Mr. and Mrs. Jones – are each on the payroll of companies, with professional positions. They take advantage of all tax benefits available to them, such as pretax contributions to 401(k) plans and medical, childcare and transportation flexible spending accounts. They have no credit card debt, but Mr. Jones racked up $40,208 in student loan debt in undergraduate and graduate school, and Mrs. Jones borrowed $22,650 to get her undergraduate degree (both amounts are equal to the national averages for their levels of education). They also have a car loan on one of two cars, and a mortgage for 80 percent of the value of a typical home in their communities for a family of four, which includes one toddler and one school-age child.

The bottom line: It’s not exactly easy street for our $250,000-a-year family, especially when it lives in high-tax areas on either coast. Even with an additional $3,000 in investment income, they end up in the red — after taxes, saving for retirement and their children’s education, and a middle-of-the-road cost of living — in seven out of the eight communities in the analysis. The worst: Huntington, N.Y., and Glendale, Calif., followed by Washington, D.C., Bethesda, Md., Alexandria, Va., Naperville, Ill. and Pinecrest, Fla. In Plano, Texas, the couple’s balance sheet would end up positive, but only by $4,963.

http://www.thefiscaltimes.com/Issues/The-Economy/2010/1...

Um, excuse me? 97% of the population makes less, but we're supposed to feel sorry about the family of four who can barely make it on $253K -- after, in Huntington NY:


- MAXIMIZING contributions to two 401K's ($33,000/year)

- paying the $3000/mo mortgage on their house in a neighborhood appropriate for their income class

- paying $10,000 a year for "maintenance & cleaning" of their home

- paying over $5000 a year to park their cars

- $8000 a year saving for their kids' college

- $1583 a month for day care, babysitting, after-school activities, & camp for the kiddies

- paying the medical & dental insurance

- $520 a month for meals not cooked at home

- $246 a month on clothing

- $230 a month on phone, internet, cable

- $4000 a year for the family vacation

- $599 a month on gifts, entertainment, entertaining at home

- $130 a month on the dog


and the poor dears only have $4000 left at the end of the year after paying total taxes of 29.9% (federal + alternative minimum, social security, state income, sales tax, property tax)

sob.


http://www.thefiscaltimes.com/Issues/The-Economy/2010/1...


even *after* paying *all* their taxes they make more than 3/4 of the population makes before taxes.

 

Quote
Dappleganger  (1000+ posts)      Thu Dec-23-10 02:09 AM
Response to Original message

1. 4K per year for a family vacation??
 I don't even dream that big!

But seriously, those are some huge expenses for having kids that young. That's part of the problem--the monthly expenses are too high from living high, then when one loses a job or gets downsized they complain about it. 

Quote
Hannah Bell  (1000+ posts)        Thu Dec-23-10 02:13 AM
Response to Reply #1

3. i remember several threads at DU where people gave advice to the proles on how to save
 Edited on Thu Dec-23-10 02:16 AM by Hannah Bell
money.

maybe they could do the same for this family: looks like they need it more than the proles.

disgusting. "poor" = the family that can put $33K a year into their retirement accounts? that's more than about 1/3 of families make in a year.


most people don't even *have* DENTAL, & would kill to have enough income to pay the premiums for it. bad teeth = signal of class in america.

Quote
blueamy66  (1000+ posts)        Thu Dec-23-10 02:49 AM
Original message

Amen.
 This story makes me want to puke.

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Mimosa  (1000+ posts)      Thu Dec-23-10 04:13 AM
Response to Reply #3

69. ^Exactly. The family profiled live wastefully! ^
 
They have 2 kids (and there's nothing wrong with that at all) and their health insurance runs them 4, 213 a year. I assume an emplyer picks up the majority.

My partner and I -both over 55, no kids- pay $895 a month for a $10,000 BC/BS policies per person deductible, 70/30 PPO. No Rx coverage until $10,000 deductible is met.

Being self employed and one of us (me) too sick to work but not qualified for SSI, our yearly income varies between as low as $33,000 to as high as $78,000. It's usually in the middle somewhere (like in the 40K range). But high medical and dental expenses as well as the extra FICA for self -employed people keep us from being able to get ahead. Some years we fall behind on Fed taxes because we seem to like to eat food and we're too scare to drop health insurance. Dental has costs us more as we get older. The post-Katrina expenses of paying a mortgage (and other repair expenses) on our house in New Orleans while we were paying rent up here in Atlanta set us back too.

We haven't had a vacation since 2001!

The oinkers described get no sympathy from me. 'Entertainment expenses' of nearly $600 a month? Ours are in that area for a year!

BTW, Steven Spielberg is going to help advise the Democratic party on 'rebranding'.

http://voices.washingtonpost.com/thefix/democratic-part...

I'm sure he's just the type to know how to relate to the financial difficulties of such ordinary people as 'the Jones family' in that article! 

Quote
dkf  (1000+ posts)        Thu Dec-23-10 02:49 AM
Response to Reply #1

30. $4,000 high? With $500/ticket x 4 and you are already at $2,000
 $200/night x 10 days for a hotel and the whole amount is spent. Or 7 days and you have got $600 left. $50 per day for a car and you have $250 left for food/tips/entrance fees etc.

 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 02:50 AM
Response to Reply #30

33. you fly somewhere for your family vacations?
 
Edited on Thu Dec-23-10 02:52 AM by Hannah Bell

not possible to cut back on that?

when i was a kid our family vacations consisted of tent camping. we never stayed in a hotel for any vacation we ever went on. they were great vacations. we didn't feel deprived. when we got older we got to bring our friends.
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dkf  (1000+ posts)        Thu Dec-23-10 02:57 AM
Response to Reply #33

37. We are in Hawaii.
 Edited on Thu Dec-23-10 02:59 AM by dkf

I guess we could go to a hotel or something for a staycation. Even a trip to the outer islands is about $160 round trip not counting all those luggage fees.

When I was a kid we couldn't afford to go on family vacations. In fact we still haven't gone all together. There is always someone missing. 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 03:05 AM
Response to Reply #37

41. is there something terrible about driving to the beach? you live in freaking hawaii.
 Edited on Thu Dec-23-10 03:07 AM by Hannah Bell
i think they have parks & things.

 
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dkf  (1000+ posts)        Thu Dec-23-10 03:29 AM
Response to Reply #41

53. Actually I don't really like the beach. It's pretty, but the sand gets everywhere and it's hot!
 I'd rather see the beach from my air conditioned car...and I see it every day as I drive to work.


 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 03:41 AM
Response to Reply #53

56. sit in your air-conditioned house for your vacation then.
 
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dkf  (1000+ posts)        Thu Dec-23-10 04:19 AM
Response to Reply #56

71. Sorry but there is no air conditioning here at home.
 We pay the highest electricity rates in the country too. That makes air conditioning the place quite expensive. 
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blueamy66  (1000+ posts)        Thu Dec-23-10 07:28 AM
Response to Reply #37

103. LOL!
 But Hannah still had a "come back".
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lumberjack_jeff  (1000+ posts)      Thu Dec-23-10 11:02 AM
Response to Reply #37

141. Bwahahaha!
 
 

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dkf  (1000+ posts)        Thu Dec-23-10 03:32 AM
Response to Reply #47

54. These people can afford it, they just don't have much extra to save if they do
 The point of the story is that after all the expenses people making $250,000 don't have a lot left over. 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 03:40 AM
Response to Reply #54

55. no, the point is the financial times thinks they are "poor" because after paying for all their needs
 including savings, health care, dental care --

they only have $333 a month to blow on "whatever".

but since their budget already includes entertainment, gifts, clothing, vacation, eating out, etc.

i'm not sure what's left to blow the $333 on. gold-plated chocolates? wtf do they want?
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dkf  (1000+ posts)        Thu Dec-23-10 04:25 AM
Response to Reply #55

74. They never called these people "poor". They simply said these people aren't necessarily living like
 Edited on Thu Dec-23-10 04:26 AM by dkf
Country club types with a second home or anything. Their life style is what you would expect from the middle class, not the elite earners. 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 04:27 AM
Response to Reply #74

76. earth to dfk: "$250K and poor" is in the heading on the picture & introductory blurb.
 Edited on Thu Dec-23-10 04:29 AM by Hannah Bell
and the article is titled: "down & out on $250K"
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dkf  (1000+ posts)        Thu Dec-23-10 04:36 AM
Response to Reply #76

79. Oh sorry. I was so sure that was your take on it.
 
All I know is if that is the ultra cushy life only the elite can aspire to we are in trouble. The American Dream isn't very secure. 
 
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Hannah Bell  (1000+ posts)        Thu Dec-23-10 04:41 AM
Response to Reply #79

80. nothing is secure when your livelihood is dependent on the whims of capital.
 Edited on Thu Dec-23-10 04:43 AM by Hannah Bell
however, $250K is a nice living for a worker, and not one that most workers would consider impoverished.

the supposedly tight budget in the article is laughable to most people. the hypothetical couple saves half of their after-tax income & the financial times bills it as poverty.

 
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dkf  (1000+ posts)        Thu Dec-23-10 04:47 AM
Response to Reply #80

82. Actually it says that with that level of savings they are in the red so they wouldn't be able to
 fund their retirement or college savings at the maximum. 
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Quote
Hannah Bell  (1000+ posts)        Thu Dec-23-10 04:53 AM
Response to Reply #82

84. their retirement & college savings is the savings i'm talking about.
 they contribute the maximum to their 401ks ($33K) and $8000 a year to their children's college fund.

look at the budget.

plus they have $4000 a year to blow. or put into other savings. or invest. or whatever, have their hair done.

 
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dkf  (1000+ posts)        Thu Dec-23-10 05:02 AM
Response to Reply #84

87. Last paragraph page 1
 "unfortunately, the family would also probably save less, at the expense of their retirement or their kids educations.

At the level of spending they deem normal the family would not be able to do everything described without being in the red in 7 of 8 cities they did calculations for. 
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Quote
Hannah Bell  (1000+ posts)        Thu Dec-23-10 05:13 AM
Response to Reply #87

89. well, they deem "normal" saving more than most families make in a year. they deem normal eating
 Edited on Thu Dec-23-10 05:20 AM by Hannah Bell
lunch out every day & spending $10K a year to maintain & clean their house.

so i certainly can't argue that "at the level of spending they deem normal" they don't have enough income to be what they deem normal.

They still have more income than 97% of americans. and five times more than the median family, which is what most people think of as "normal".
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Quote
dkf  (1000+ posts)        Thu Dec-23-10 10:52 AM
Response to Reply #89

138. I've seen condo maintenance fees around $1000 a month here for a two bedroom no less.
 Supposedly that is a fair value of what it takes to maintain the property when expensed monthly
 

 :lmao:

There's more at the link.

KC

 


  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #1 on: December 23, 2010, 10:46:35 AM »
Quote
Hawkeye-X  (1000+ posts)       

Thu Dec-23-10 10:19 AM
Response to Reply #1

129. Indeed. We are planning a family vacation in 2012 to Israel
 
Edited on Thu Dec-23-10 10:20 AM by Hawkeye-X

and we're SAVING money for that purpose. Includes tickets and possible trips to Europe for a week or so.

And it will cost us about roughly 4-6k.

My wife is squirreling a lot of money away too.

And we're not planning anything much except for an occasional trip to NY twice a year to visit family. I usually stay home.

 

Isn't this DUmmie on disability or some such??

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline GOBUCKS

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Re: Down and Out on $250,000 a Year
« Reply #2 on: December 23, 2010, 10:54:42 AM »
Quote
tk2kewl  (1000+ posts)      Thu Dec-23-10 11:04 AM
Original message
Forget about the family making $250Gs
People who make hundreds of thousands and millions of dollars a year and don't get a W4 are the ones that really need to be taxed.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x60942

Something tells me this DUmmy doesn't know the difference between a W4 and a W2.
The distinction is lost on DUmmies who make a career out of SSI.

Offline Evil_Conservative

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Re: Down and Out on $250,000 a Year
« Reply #3 on: December 23, 2010, 11:06:22 AM »
Are these DUmmies taking into account the average price of a home in the area these "rich SOB's" live in?  My FIL makes six figures, but they live in a small town in Illinois where the average home costs around 120,000. 
You may call me Jessica or Jess.

Offline Celtic Rose

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Re: Down and Out on $250,000 a Year
« Reply #4 on: December 23, 2010, 11:10:42 AM »
Are these DUmmies taking into account the average price of a home in the area these "rich SOB's" live in?  My FIL makes six figures, but they live in a small town in Illinois where the average home costs around 120,000. 

Around here, the average house price is $450,000, and that is for a basic 3 bedroom house in an average neighborhood.  The "nice" neighborhoods have houses around $1 million.  I've yet to see a house that is $120,000 (That is significantly less than I qualify for.  I could have a house  :( )

$250,000 would go a lot more quickly around here than in many places in the country. 

Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #5 on: December 23, 2010, 11:54:17 AM »
Quote
HEyHEY (1000+ posts)       

Thu Dec-23-10 02:46 AM
Response to Reply #17

27. Also, my sister has a 400,000 home and her family of four makes 65,000 a year
 And they seem to do fine. 

Now DUmmie is either telling an outright lie or is leaving out something.  Using the rule of thumb you will usually pay 1% of the homes price for Principle, Interest, Taxes and Insurance (PITI).  It's not exact but it gets you close.

$400,000 = $4,000/month

$48,000/$65,000 = 74% Debt to Income Ratio

Lenders don't want you to be more than 26% DTI on the mortgage and no more than 38% on total DTI.  These numbers may have moved a little bit but I don't see a lender going 74% DTI on the home alone.

Plus if they're making $65,000 that would probably be gross rather than net.

DUmmies lie, all the time.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #6 on: December 23, 2010, 12:02:30 PM »
The hits just keep a coming!

Quote
justiceischeap  (1000+ posts)       

Thu Dec-23-10 08:04 AM
Response to Reply #46

108. I pay $40 a week for public transport on the DC Metro  
Edited on Thu Dec-23-10 08:04 AM by justiceischeap

That's $120 a month and I walk to the Metro station.

I am one of those people who live in the DC metro area and make away less than 3 figures and manage to live a decent life without living in a high crime area. 

This DUmmie lives somewhere that only has 3 weeks in a month!!   :lmao: 

If justiceischeap would learn some basic math he may be able to get a job that pays closer to those 3 figures he's looking for!

 :lmao:

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

*Stolen

Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #7 on: December 23, 2010, 12:09:26 PM »
Quote
stray cat (1000+ posts)     

Thu Dec-23-10 07:09 AM
Response to Original message

97. 30,000 and poor is a joke to many - idea of wealth depends on a persons perspective

stray cat.  the idea of wealth doesn't depend on a persons perspective.  That is what DU wants everyone to think.  I can give you a definition of wealth you can keep.

If your passive income exceeds your liabilities then you are wealthy.  Someone who makes $500/month, in passive income, can be wealthy if their liabilities do not exceed $500/month.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

*Stolen

Offline GOBUCKS

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Re: Down and Out on $250,000 a Year
« Reply #8 on: December 23, 2010, 12:19:57 PM »
The hits just keep a coming!

This DUmmie lives somewhere that only has 3 weeks in a month!!   :lmao: 

If justiceischeap would learn some basic math he may be able to get a job that pays closer to those 3 figures he's looking for!

 :lmao:

KC
DUmmy justiceischeap is suffering from General Anastasia.

Offline Evil_Conservative

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Re: Down and Out on $250,000 a Year
« Reply #9 on: December 23, 2010, 12:33:16 PM »
Around here, the average house price is $450,000, and that is for a basic 3 bedroom house in an average neighborhood.  The "nice" neighborhoods have houses around $1 million.  I've yet to see a house that is $120,000 (That is significantly less than I qualify for.  I could have a house  :( )

$250,000 would go a lot more quickly around here than in many places in the country.  

Ouch.

Where do you live?  

I'd cry if the average home price was $400,000.  That just kisses our home ownership dream good bye.
You may call me Jessica or Jess.

Offline Ballygrl

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Re: Down and Out on $250,000 a Year
« Reply #10 on: December 23, 2010, 12:35:58 PM »
Long Island is very expensive, you're talking tax rates around maybe $12,000 a year minimum for property taxes, a salary of say a Teacher and a Fireman combined? maybe $250,000 per year also? doesn't go a long way at all. Yes people in the tri-state area can move to areas way way out but it isn't always possible either, my cousin and his wife work for NYC, they have to live within the 5 boro's, and I don't want to move because we're from here, our friends and most of our family are here, so we just suck it up. If it was up to hubby we'd be on a farm in New England or out west.
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Offline Celtic Rose

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Re: Down and Out on $250,000 a Year
« Reply #11 on: December 23, 2010, 12:38:25 PM »
Ouch.

Where do you live?  

I'd cry if the average home price was $400,000.  That just kisses our home ownership dream good bye.

San Jose, CA.  About an hour south of San Francisco.  I'm still hoping that prices will come down some more, I know we've had a lot of foreclosures.

Offline vesta111

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Re: Down and Out on $250,000 a Year
« Reply #12 on: December 23, 2010, 01:27:28 PM »

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x60942

Something tells me this DUmmy doesn't know the difference between a W4 and a W2.
The distinction is lost on DUmmies who make a career out of SSI.

I just for the hell of it did the math.  These people spend $3,000 a month for a mortgage and $800.00 a month to maintain the home .??

They shell out $395 bucks a week for day carer and sports for  [2] kids.??

$6,240 dollars a year to eat out.?? Where the heck are they eating, in Paris.????


They are not spending much for clothing only$ 2,952 for 4 people a year or $738.00 per person. wonder what daddy's custom made suits and mommys shoes cost.

Vacations at $4,000 a year just may be to get all 4 on a cruise ship when there is a slow time and sales galore perhaps 3 times a year.  But then this cost could be for a 2 week cruse without the kids and added in the cost to have them babysat.

Entertainment, now this is a biggie,   at $7,188 per year are these people entertaining the king and Queen of Denmark.???

The DOG, darn $1,560.00 a year, dog must be better off then 3/4 of the human population.

So they stash away $8,000 a year for their kids education-------big firkin deal, hard times are coming and the parents in no way can pay for 2 kids the cost of an education in 10-15 years.  Why do they think that in 15 years $120,000 will put 2 kids into even the cheapest colleges.???     What makes them think their kids will even want a college education, strange behavior for liberals ---  Take that money and stash it in case  one of the kids needs medical help--Plenty of kids work their own way through college.

My heart goes out to people like them that now may have to clean and repair their own homes.Saving $10,000 a year.
The mother can't work so that saves them $18,000 a year on the kids bring it down to about $2,000 a year and save $16,000 a year.Vacations every other year.

 Meals away from home, save $6,240 by eating hot dogs at a street cart.

Holiday gifts birthdays etc cut that down to $2,000 a year and just have one big party a year and have it, POT LUCK.
So what have we saved these people a year so far.??   Add it up my friends, lots of money there but wasted and abused by the liberals.


Quick story here, Hubby and I decided to get the hell out of the ghetto, the rent was cheap. $5,000 a year and all but we stashed every nickle and dime for a down payment on a home. No vacations and little entertainment we bought our clothing at good will.  

So what to do, we could not afford a boat to set out to fish in the Ocean so we bought Kayaks that we could fish from.  We learned a new skill and had a better time then those with bigger power boats.

We looking for a home ,could not afford the area and turned to mobile or manufactured Park.  
We found a park that was willing to rent us 3/4 or an acre and we had to buy a brand new home to place on it.    The home cost at that time $80,000 and had 3 bedrooms 2 full baths a family room , a fireplace and a large kitchen.

 To buy a home on 1/4 acre of your own land same as mine went for $174,000 bucks.

My main concern when buying was if we could pay the mortgage and land rent if one of us became unable to work, good thing I did.

Offline IassaFTots

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Re: Down and Out on $250,000 a Year
« Reply #13 on: December 23, 2010, 01:30:04 PM »
DUmmy justiceischeap is suffering from General Anastasia.

GOBUCKS.  That just doesn't get old.   :lmao: :lmao:
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Offline Traveshamockery

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Re: Down and Out on $250,000 a Year
« Reply #14 on: December 23, 2010, 01:39:14 PM »
-MAXIMIZING contributions to two 401K's ($33,000/year)
-paying the $3000/mo mortgage on their house in a neighborhood appropriate for their income class
-paying $10,000 a year for "maintenance & cleaning" of their home
-paying over $5000 a year to park their cars
-$8000 a year saving for their kids' college
-$1583 a month for day care, babysitting, after-school activities, & camp for the kiddies
-paying the medical & dental insurance
- $520 a month for meals not cooked at home
- $246 a month on clothing
- $230 a month on phone, internet, cable
- $4000 a year for the family vacation
- $599 a month on gifts, entertainment, entertaining at home
- $130 a month on the dog


This "rich" couple sounds like a typical working family who not only lives responsibly today but is also concerned and planning for their future.  People maximize their contributions to their 401k's for a reason - some companies will match that.  It's like giving yourself a raise.  They are saving for their kids' college and paying for medical and dental insurance - sounds like responsible parenting and adult behavior to me.  

Budgeting for maintenance and cleaning of their home - sounds like typical responsible homeowner behavior to me.  This couple is obviously planning for the worst and hoping for the best unlike DUmmies who only plan for their next bag of weed and how they can get money to pay for that.  It's the DUmmies who do not plan ahead and waste every dollar they receive on crapola and then expect the taxpayers to bail them out for everything else.  DUmmies believe they do not need to pay for the necessities - that's the responsibility of the government.  Any ]money they receive is for stuff they want that responsible people save for.  
« Last Edit: December 23, 2010, 01:45:52 PM by Traveshamockery »

Offline JohnnyReb

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Re: Down and Out on $250,000 a Year
« Reply #15 on: December 23, 2010, 02:38:06 PM »
Changing the subject for a moment. DUmmie says they live in Hawaii and they are paying the highest electric rates in the nation....why haven't they tapped some of that volcano activity for steam?....and sunshine maks it hot.... solar?....

Oh yeah, now I get it....Obama is going to retire there and like the Kennedy's, he doesn't want the scenery messed up with that "renewable green energy" shit. 
“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline franksolich

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Re: Down and Out on $250,000 a Year
« Reply #16 on: December 23, 2010, 03:48:25 PM »
Isn't this DUmmie on disability or some such??

Yeah.

But the in-laws are probably paying for it, as the in-laws seem to be paying for every trip the cross-eyed Iowa primitive takes.

The cross-eyed Iowa primitive isn't putting aside any money, because he already knows who's footing the bill.

But the cross-eyed Iowa primitive likes to lie about things; it's second nature to him.
apres moi, le deluge

Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #17 on: December 23, 2010, 03:57:43 PM »
Yeah.

But the in-laws are probably paying for it, as the in-laws seem to be paying for every trip the cross-eyed Iowa primitive takes.

The cross-eyed Iowa primitive isn't putting aside any money, because he already knows who's footing the bill.

But the cross-eyed Iowa primitive likes to lie about things; it's second nature to him.

Thanks for the clarification frank.  I thought that was what I remembered.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline true_blood

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Re: Down and Out on $250,000 a Year
« Reply #18 on: December 23, 2010, 07:23:39 PM »
Quote
stray cat (1000+ posts)     
Thu Dec-23-10 07:09 AM
Response to Original message
97. 30,000 and poor is a joke to many - idea of wealth depends on a persons perspective
This would be easy for stray cat to say because, obviously stray cat wants the gubberment to "help" provide some welfare.
If you make 30,000, then do your best to make ends meet and live WITHIN your means.

Offline shadeaux

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Re: Down and Out on $250,000 a Year
« Reply #19 on: December 23, 2010, 10:50:08 PM »
You believe that bunch ?

They are so jealous of anyone doing better than they are. Doesn't matter that you worked nearly 30 years to get to that point, they still can't stand the fact that their stupid asses made poor choices in life and you didn't.

And how do they explain themselves

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=61806&mesg_id=61806

Repeating

Quote
That's where the meth comes in, it does help one keep going.


 :loser:


Offline Texacon

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Re: Down and Out on $250,000 a Year
« Reply #20 on: December 24, 2010, 08:08:43 AM »
You believe that bunch ?

They are so jealous of anyone doing better than they are. Doesn't matter that you worked nearly 30 years to get to that point, they still can't stand the fact that their stupid asses made poor choices in life and you didn't.

And how do they explain themselves

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=61806&mesg_id=61806

Repeating

 :loser:

That sounded like it was coming from the voice of experience.  Lord, the DUmmies know more about illicit drugs than I ever want to know.
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Offline NHSparky

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Re: Down and Out on $250,000 a Year
« Reply #21 on: December 24, 2010, 08:35:32 AM »
Now DUmmie is either telling an outright lie or is leaving out something.  Using the rule of thumb you will usually pay 1% of the homes price for Principle, Interest, Taxes and Insurance (PITI).  It's not exact but it gets you close.

$400,000 = $4,000/month

$48,000/$65,000 = 74% Debt to Income Ratio

Lenders don't want you to be more than 26% DTI on the mortgage and no more than 38% on total DTI.  These numbers may have moved a little bit but I don't see a lender going 74% DTI on the home alone.

Plus if they're making $65,000 that would probably be gross rather than net.

DUmmies lie, all the time.

KC

They may have a home WORTH $400K, but there's no way in hell they've got a $400K mortgage on it.  My income is nearly double what the DUmmie cites, yet my mortgage is barely half, and when you throw in insurance (up 25 percent this year) and taxes ($5K/year) and living expenses ($350/month for gas/tolls each month, $150/month food, $450-500 month for electric, oil, phone, cable, etc.,) and you get the idea.

Now, had they bought the house 15 years ago when a house in SoCal was $200K, they MIGHT be able to handle it, but in reality, $65K in So Cal is damn near poverty line.
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Offline NHSparky

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Re: Down and Out on $250,000 a Year
« Reply #22 on: December 24, 2010, 09:03:23 AM »
I just for the hell of it did the math.  These people spend $3,000 a month for a mortgage and $800.00 a month to maintain the home .??

They shell out $395 bucks a week for day carer and sports for  [2] kids.??

$6,240 dollars a year to eat out.?? Where the heck are they eating, in Paris.????


They are not spending much for clothing only$ 2,952 for 4 people a year or $738.00 per person. wonder what daddy's custom made suits and mommys shoes cost.

Vacations at $4,000 a year just may be to get all 4 on a cruise ship when there is a slow time and sales galore perhaps 3 times a year.  But then this cost could be for a 2 week cruse without the kids and added in the cost to have them babysat.

Entertainment, now this is a biggie,   at $7,188 per year are these people entertaining the king and Queen of Denmark.???

The DOG, darn $1,560.00 a year, dog must be better off then 3/4 of the human population.

Vesta, I chopped off the last bit of your response but I feel like I need to address the other points you have here.

Let's break these numbers down, shall we?

$3000 for the mortgage, $800 for maintenance.  For Long Island, it's not bad.  Hell, that's less than MY mortgage was on my house in California.  And $800/month for maintenance?  Well, let's see, if someone comes through once a week and does the dusting/vacuuming/windows, you're looking at $100 a week easily.  Tack on another $60/week for the gardener/landscaping.  Then there's the annual maintenance like cleaning gutters, cleaning the chimney, maintenance on the oil burner, A/C, etc.  $10K a year isn't all that bad.  As earlier mentioned, this also doesn't include taxes, insurance, etc.

$395 a week for sports and day care--frankly, I think they lowballed this figure.  Any idea how much full-time daycare costs these days?

$6240/year breaks down to $520/month, or about $130/week.  Newsflash, vesta--that's about what a family of four would pay to eat out once a week, maybe once a month extra for the mom and dad.  Been to Outback lately?  We're not talking Ruth's Chris here, hon.  Last time I went there, the bill was almost $300 plus tip.  I'm looking at Delmonico's or Prime when I go to Vegas.  Just for me it'll easily top $125-150 plus tax and tip.

$740 per person for clothes?  I'll give ya a hint--my workboots go for nearly $200 a pair.  Throw in fire-retardant clothing, etc.  I'm just your basic working schlub.  The suit in my closet is moth-eaten and nearly 10 years old.  I buy a few pairs of jeans, some socks, underwear, and a couple of Carthartt sweatshirts a year and that puts me at nearly $600-700.  I haven't bought a new jacket in 4 years.

Vacation--here's my "cheap" getaway: $300 for discount airfare to Vegas.  $60/night for hotel.  $50 for bus (or $150 if I park at the airport.)  $50 for taxi to/from airport to hotel.  Then I have to board the animals or have a sitter come in.  I'm at nearly $1000 and haven't pulled a slot handle, eaten a meal, or seen a show.

Entertainment at $600/month--been to a movie lately?  Ever taken the kids to an amusement park?  How about a Red Sox game if you have to buy the tickets off of StubHub or someplace like that?  

And the dog...$130/month?  Think that dog food is free?  Or those heartworm pills or flea/tick drops are cheap?  How about if Rover needs a grooming?  That's $75 a whack for me.  Trip to the vet?  $300 right there if nothing's wrong.

You see, it adds up quickly, but look at what this family is doing--are they sticking their money under the mattress or using it to oppressed the poor masses like the DUmmies so love to claim?

No, dear--they're SPENDING it, at least what they have left when they're done getting ass-raped by the government and saving for their retirement and their children's education rather than expecting someone else to pay for it.  That money they spend on all those "frivolous" things is--surprise!--CREATING JOBS.

This is what the DUmmies fail to consider.
« Last Edit: December 24, 2010, 09:12:31 AM by NHSparky »
“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford