4 Men with 4 Very Different Incomes Open Up About the Lives They Can Afford

[Svnla]

From $1 million a year to poverty level.


http://www.esquire.com/lifestyle/money/a44086/four-men-four-numbers/


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[Ns1]

I want to feel bad for that guy at the poverty line but I was making more money than that at 16 and I knew then that condoms are cheaper than kids. And only one job? What a slacker.

I'd never want to live like that millionaire, too much focus on financial gain. Makes a million bucks/year but spends $800/month on groceries and eats at home. Seriously?

I feel like the guy at 250k is my kindred spirit.

 

[K1052]

I'm curious what kind of enormous debt the millionaire's parents have since he's raking in 1M a year, has no debt, trust funds for kid's education, 5M+ in the bank, and spends dick.

 

[Kaido]

Makes a million bucks/year but spends $800/month on groceries and eats at home. Seriously?

If I were single, my goals would include living in an extended-stay hotel & renting a new car every week. I have a friend who lives like that, it's awesome haha...free breakfast every morning, a maid who comes in to make your bed & clean up, a pool, eat wherever you want for lunch & dinner, drive a new car every week or every month. He's basically a full-time contract worker, so he can pretty much move anytime he wants & stay wherever he wants. If you like to travel & don't like the responsibilities of owning a home or a car or being tied down to one location, it's a pretty neat way to live, especially if the company you work for subsidizes your house & travel expenses.

 

[Ns1]

^^

That's awesome.

 

[PricklyPete]

If I were single, my goals would include living in an extended-stay hotel & renting a new car every week. I have a friend who lives like that, it's awesome haha...free breakfast every morning, a maid who comes in to make your bed & clean up, a pool, eat wherever you want for lunch & dinner, drive a new car every week or every month. He's basically a full-time contract worker, so he can pretty much move anytime he wants & stay wherever he wants. If you like to travel & don't like the responsibilities of owning a home or a car or being tied down to one location, it's a pretty neat way to live, especially if the company you work for subsidizes your house & travel expenses.

To be honest, that sounds tedious. I spent years consulting living a similar life...no bueno.

 

[chitwood]

I feel like the guy at 250k is my kindred spirit.

He has 15 credit cards, holy shitsnacks

 

[Ns1]

He has 15 credit cards, holy shitsnacks

Probably various points cards, given that he has minimal credit card debt.

 

[mvbighead]

I want to feel bad for that guy at the poverty line but I was making more money than that at 16 and I knew then that condoms are cheaper than kids. And only one job? What a slacker.

This is a bullshit attitude to have. Some folks have different priorities. It didn't suggest he was just knocking it out with random women and having kids as a result. That may be, but if you give him the benefit of the doubt, kids may have been a priority for him at a younger age. Who knows.

I'd never want to live like that millionaire, too much focus on financial gain. Makes a million bucks/year but spends $800/month on groceries and eats at home. Seriously?

I feel like the guy at 250k is my kindred spirit.

LOTS of people eat at home. You can control your diet a LOT better when you prepare your own food. It can also be very enjoyable and relaxing to make a good meal and enjoy it.

At the end of the day, my wife and I can enjoy a GREAT rib eye steak dinner with roasted asparagus, sauted mushrooms, and a nice bottle of red wine for a grand total of roughly $30-40... or, we can enjoy what is often a mediocre steak dinner with roasted asparagus, sauteed mushrooms, and a mediocre bottle of red wine for $100 at a restaurant. Sometimes we'll splurge and go out for a meal like that, but for the most part, any time we do we're disappointed in the quality and would have preferred to have that meal at home.

People that have money often do because they make better decisions with what they do with it.

 

[PricklyPete]

He has 15 credit cards, holy shitsnacks

Yeah. He is the person who I relate to the least. He sounds way over leveraged. The kind of guy that will file for bankruptcy the second the economy has a blip. A good friend is a real estate person similar to this guy (probably making a bit more). He was doing the same thing in 2008 when he had to file for bankruptcy. Guess what, he's back at it again. He may be ultimately richer than I will ever be...but I would never want to go through the roller coaster ride he has put his family in.

While my income is nowhere near 1 mil, I relate much more towards the rich guy with one exception...I'm done with putting the extra hours in at work. Of course the economy could always change things...but I no longer chase a paycheck by working extra hours. For instance, I know that I could make significantly more consulting with my knowledge base (I have in the past), but my family is content with our financial situation and I love getting off at 3pm and having the choice to go spend time with my family or go mountain biking/trail running/etc. and still get a good nights sleep.

 

[Ns1]

This is a bullshit attitude to have. Some folks have different priorities. It didn't suggest he was just knocking it out with random women and having kids as a result. That may be, but if you give him the benefit of the doubt, kids may have been a priority for him at a younger age. Who knows.



LOTS of people eat at home. You can control your diet a LOT better when you prepare your own food. It can also be very enjoyable and relaxing to make a good meal and enjoy it.

At the end of the day, my wife and I can enjoy a GREAT rib eye steak dinner with roasted asparagus, sauted mushrooms, and a nice bottle of red wine for a grand total of roughly $30-40... or, we can enjoy what is often a mediocre steak dinner with roasted asparagus, sauteed mushrooms, and a mediocre bottle of red wine for $100 at a restaurant. Sometimes we'll splurge and go out for a meal like that, but for the most part, any time we do we're disappointed in the quality and would have preferred to have that meal at home.

People that have money often do because they make better decisions with what they do with it.

You need to find better restaurants bro.


I work to live, not to park my money in a bank account in the hopes that I'll be alive 40 years in the future to use it.

 

[Tweak155]

The one common trend I noticed - they all want to make more money.

 

[pete6032]

Makes a million bucks/year but spends $800/month on groceries and eats at home. Seriously?

Even if I was that rich, I would also eat at home. If I had that much money, I might not prepare it myself, and hire a person chef instead, but it would still be many of the recipes that I currently make. Eating for me, 95% of the time it is about giving my body the proper nutrition it needs, and avoiding the unhealthy things. Much easier to do that when you're making your own recipes.

 

[PricklyPete]

You need to find better restaurants bro.





I work to live, not to park my money in a bank account in the hopes that I'll be alive 40 years in the future to use it.

Ever think that he may be working to live as well, but over paying at a restaurant is not his idea of living?

 

[Ns1]

Ever think that he may be working to live as well, but over paying at a restaurant is not his idea of living?

Nah

 

[PricklyPete]

Nah

The thinking part?

 

[pontifex]

how does the poverty line guy keep getting so many tickets? i mean, stop getting tickets! he said he had $3000 worth of tickets. then he says he pays one off and gets another. wtf???

 

[pontifex]

Even if I was that rich, I would also eat at home. If I had that much money, I might not prepare it myself, and hire a person chef instead, but it would still be many of the recipes that I currently make. Eating for me, 95% of the time it is about giving my body the proper nutrition it needs, and avoiding the unhealthy things. Much easier to do that when you're making your own recipes.

the million dollar guy spends 1200 a month on food.

must be eating some damn good food!

 

[mvbighead]

Ever think that he may be working to live as well, but over paying at a restaurant is not his idea of living?

Pretty much this. And on top of it, better restaurants get what you might ask... MORE money. So now, I get what may be an equivalent steak to my own for $150-200 instead of the $40 or so that'd I'd pay at home.

For me, the reality is that buying quality ingredients and cooking at home gives you MUCH better meals at much better prices. We still go out to eat for the fact that you can get a decent meal and not have to clean up after yourself, but for the most part, our nutrition comes from home.

 

[mvbighead]

the million dollar guy spends 1200 a month on food.

must be eating some damn good food!

Organic foods, quality meats, etc are all going to drive up the price (but probably not quite to that extreme). I'd wager a guess though that his 'food' bill also includes wines and such to pair with meals, and if he's buying nicer bottles (probably $30 or more per bottle), that'll quickly add up.

 

[mvbighead]

how does the poverty line guy keep getting so many tickets? i mean, stop getting tickets! he said he had $3000 worth of tickets. then he says he pays one off and gets another. wtf???

This was the one question I had as well. I'd suspect he is unable to get out of his work to go and plug the meter, but at that point, I think I'd be using different transportation especially at that income level.

Hell, for those kinds of expenses, you'd think he could find a garage within reasonable walking distance and save a shitload of coin.

 

[K1052]

Pretty much this. And on top of it, better restaurants get what you might ask... MORE money. So now, I get what may be an equivalent steak to my own for $150-200 instead of the $40 or so that'd I'd pay at home.

For me, the reality is that buying quality ingredients and cooking at home gives you MUCH better meals at much better prices. We still go out to eat for the fact that you can get a decent meal and not have to clean up after yourself, but for the most part, our nutrition comes from home.

Unless there is a chef skilled in the cuisine of basically culinary region stashed in my pantry that I have yet to find I'll be going out sometimes thanks. Last night was latin (Brazilian), two nights ago it was Bavarian, had dim sum last weekend, the list goes on. We cook at home a fair bit but there is a ton of stuff that I don't have the knowledge, time, or inclination to prepare. Also unless several of my favorite restaurants are going to give up their recipes to me they'll still be getting my business.

 

[zinfamous]

LOTS of people eat at home. You can control your diet a LOT better when you prepare your own food. It can also be very enjoyable and relaxing to make a good meal and enjoy it.

At the end of the day, my wife and I can enjoy a GREAT rib eye steak dinner with roasted asparagus, sauted mushrooms, and a nice bottle of red wine for a grand total of roughly $30-40... or, we can enjoy what is often a mediocre steak dinner with roasted asparagus, sauteed mushrooms, and a mediocre bottle of red wine for $100 at a restaurant. Sometimes we'll splurge and go out for a meal like that, but for the most part, any time we do we're disappointed in the quality and would have preferred to have that meal at home.

People that have money often do because they make better decisions with what they do with it.

I think the criticism is that he eats at home and still spends $800+ per month on groceries. That's absurd. I eat very well, very fancy, at home, and spend roughly $300 per month these days (that's for 2 adult humans). Maybe a little bit more.

Granted, I used to spend quite a bit more and ate fancy a bit more often per month, but considering that he's also in CA, where food is actually very cheap and very good compared to everywhere else, I find that to be a wasteful amount of money for a guy that claims to count every penny.

 

[JulesMaximus]

I want to feel bad for that guy at the poverty line but I was making more money than that at 16 and I knew then that condoms are cheaper than kids. And only one job? What a slacker.

I'd never want to live like that millionaire, too much focus on financial gain. Makes a million bucks/year but spends $800/month on groceries and eats at home. Seriously?

I feel like the guy at 250k is my kindred spirit.

We eat at home most of the time and our monthly food budget is about $800 for a family of three. When we do go out, and we probably eat out a few times a month, we spend anywhere between $75-150/meal. That is a separate line in our budget though. If we spend less than what we budget it just goes in the bank.

When we eat out it is usually someplace we go to get food we can't make at home, like sushi. I do love a good Italian restaurant or steakhouse though. It is fun to eat out, it gives you some variety and allows you to try new things. I feel sorry for someone who never eats out or tries new things.

 

[zinfamous]

Yeah. He is the person who I relate to the least. He sounds way over leveraged. The kind of guy that will file for bankruptcy the second the economy has a blip. A good friend is a real estate person similar to this guy (probably making a bit more). He was doing the same thing in 2008 when he had to file for bankruptcy. Guess what, he's back at it again. He may be ultimately richer than I will ever be...but I would never want to go through the roller coaster ride he has put his family in.

While my income is nowhere near 1 mil, I relate much more towards the rich guy with one exception...I'm done with putting the extra hours in at work. Of course the economy could always change things...but I no longer chase a paycheck by working extra hours. For instance, I know that I could make significantly more consulting with my knowledge base (I have in the past), but my family is content with our financial situation and I love getting off at 3pm and having the choice to go spend time with my family or go mountain biking/trail running/etc. and still get a good nights sleep.

$250k guy is fundamentally retarded. He has more credit card debt than he's admitting (even that which he admits to is stupid--$8k credit card debt is dumb. He has more than enough money to pay that off. No wealthy person carries any balance--and certainly not $8k. what a dummy), has an idea that he "needs" 4-5 times the money that $1mil guy needs, but no current plan, let alone a foundation to get there.