I can get by comfortably on $3500 a month as a single person in an expensive area of the U.S. But I don’t have health insurance or kids and I don’t eat out. Still, $140k seems way too high.
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Didn't read artcicle but also felt a tad high. Maybe if you account for good college savings?
They have childcare at $32,773 and other “essentials” at $21,857. And the 140k figure is the pretax total to pay for everything with post tax net income.
I think savvy parents can get childcare for much less or if one of the parents is a low earner they can stay home with the kid(s). Especially makes sense if they have multiple children.
$32,773 x 1.2 =$39,327.60 in gross earnings to pay for childcare. That’s roughly a full time job making $20/hr. So for a lot of people it would be economically beneficial to have a parent raise their own child (at that $32k number). That or get a different arrangement like family or friends. I know in my neighborhood we had bootleg day cares and my grandma also helped out a lot.
Then once kids are off to school the calculus changes again.
Boot leg child care
Parents staying home again
Funny things return
#haiku
100k is the new 50k
Did you read the article and the methodology? $140k was using the same methodology the government used in 1963, but updated it to today.
Then he did his own separate valuation and got $136k before taxes. For 2 adults 2 kids.
The numbers seem very high. If I was a brokie with kids I could come in way under those numbers in every category except maybe health insurance and housing and they total $33k.
Definitely a lot of fat that can be trimmed from expenses mentioned in that article
My family’s burn rate is a little over $4k/mo in the California desert. But, we also bought our home in 2016. We have solar/powerwalls and drive Teslas. $140k is nuts.
Nice. Life in the U.S. is expensive but 140k being poverty line is retarded and pure sensationalism.
100% agree. Anyone living on $140k can live a privileged life so long as they’re not retarted.
That’s a fact.
I actually know 2 senior devs who make nearly $250k/year and they legit have little to no savings. They blow through money like nobody I’ve ever seen and have dozens of the most elaborate hobbies. It is wild.
If they would’ve stayed humble and stacked sats since 2020 they’d easily be able to retire today.
Most people always want more. It’s actually very counterintuitive to show restraint in lifestyle in this fiat landscape. Bitcoin fixes this.
That is very true. It seems natural to me to live frugally. I was like that long before I found Bitcoin. But when I found a good medium for saving I instantly realized how perfect it was for someone like me.
Some of these guys hobbies include: full high-end analog DJ setup with a huge collection of rare vinyls, an $8k high-end espresso setup, a fully built / tuned track car (BRZ), all the nicest snowboarding gear imaginable, high-end bagpipe kit with EVERYTHING, the nicest camera / lens / accessory setup possible. One of them has a robotic self cleaning kitty litter box 😂 they absolutely never run out of stupid expensive shit to buy
