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

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PricklyPete

Lifer
Sep 17, 2002
14,714
164
106
$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.



I agree. While it might be true that he only has 8k in cc debt right now, I have a feeling that number swings wildly since "all of his money is on play". That smacks of someone who will get into a cash flow crunch as soon as the economy dips that can potentially destroy his house of cards.

Of course, with luck, he might also become Donald Trump.
 

Rakehellion

Lifer
Jan 15, 2013
12,182
35
91
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???

He said half of it is just interest payments. He literally can't pay it off at this point.
 

zinfamous

No Lifer
Jul 12, 2006
110,821
29,574
146
He said half of it is just interest payments. He literally can't pay it off at this point.

yeah, it's not that he gets another ticket, it's that fees pop up on his late payments which essentially amounts to an additional ticket cost. He pays some portion off, only to get another ticket-worth of charges.
 

Feneant2

Golden Member
May 26, 2004
1,418
30
91
That was an interesting read... I was surprised how happy they all were from rich to poor.

The millionaire and janitor, those 2 are class acts who know what life is about. It's just unfortunate that 2 guys who are so similar on paper are in such different situations.

The realtor didn't impress me, 15 credit cards, seriously? He was the one who's answers I didn't believe.
 

purbeast0

No Lifer
Sep 13, 2001
52,931
5,803
126
i like the humbleness of the millionaire and the douchebaggery of the 250k'er.

i feel that if (when) i get to making millions that i would be similar to the millionaire in the article. i'd love to be able to pay my moms house off so she has less stress and the same for my mother in law. i'd also be sure that my kid(s) wouldn't be spoiled little shits. then i'd like to get a nicer house and would most likely move to another state, but i wouldn't get something super extravagant.

and i'd love to pay $1 million cash for a house and not have a mortgage like that guy lol.
 

purbeast0

No Lifer
Sep 13, 2001
52,931
5,803
126
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.

i eat clean as shit and spend like $120/week for my wife and i, and that's not including eating out. and that's not for organic stuff.

i pretty much shop on the perimeter of the stores. i get milk, almond milk, OJ, bread, chicken breasts, fish, pork, then veggies and fruit. usually it's around $120 but can be more/less depending on prices at the time.

i don't think $800/month is absurd at all and is in fact cheap, considering i have a friend who lives in cali (san diego) with a 5 year old and a toddler, and with the 4 of them he spends $1000/month. i only know this because when i stayed with them 2 years ago i was wondering since i had a kid on the way at the time. he probably spends more now though since his son was 3 months old when i was there.
 

cronos

Diamond Member
Nov 7, 2001
9,380
26
101
How does the poverty guy think that his taxes is high? He gets pretty much everything back every year after filing a return.

Don't ask me how I know.
 

SearchMaster

Diamond Member
Jun 6, 2002
7,792
114
106
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???

I could empathize if they were parking tickets - lower income=lower income housing=nowhere to park=the city screws you. But traffic tickets? Those are (almost) always avoidable, and having so many that you have to work for several months just to pay them off is idiotic.
 

steppinthrax

Diamond Member
Jul 17, 2006
3,990
6
81
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.

The 1M guy is asian (Vietnamese). He seems to be very humble. My wife is from China, you'd be surprised how many rich asians live in the US. A korean finance professor I worked with was making 6 figures and owned a plastics company in the US. He was making near 7 figures a year. He drove a 1993 ford probe with dents in the body and a bent antenna (back in 2006).
 

Ns1

No Lifer
Jun 17, 2001
55,414
1,574
126
As a Vietnamese American who grew up in Orange County, no I am not surprised. They are even more rich now because they all bought houses in the 80's/90's/00's that are worth xxx% more now.
 

steppinthrax

Diamond Member
Jul 17, 2006
3,990
6
81
As a Vietnamese American who grew up in Orange County, no I am not surprised. They are even more rich now because they all bought houses in the 80's/90's/00's that are worth xxx% more now.

So I'm roughly like guy number 2. My wife and I eat at home all the time and buy groceries. We rarely eat out! almost never!!!

I have roughly 6 CC, I use one CC for all my bills/groceries and pay the statement balance every month. Then I take out the cash back into my BoA account which earns 25% more on top of that cash back LOL.

My wife recently nearly wrecked our Minivan. Instead of taking it to the shop to get fixed, I've ordered all the body parts (painted) from ebay). I'm going to be installing and welding in the core support myself.

Not everyone who makes 1M or 250K etc, lives some high lifestyle.

The 7 an hour guy I'm not feeling sorry for, he just needs to apply himself some more. Who the fuck pays someone $7.00/hr nowadays? You could get a job doing roadside construction, making more than that.
 

DrPizza

Administrator Elite Member Goat Whisperer
Mar 5, 2001
49,606
166
111
www.slatebrookfarm.com
the million dollar guy spends 1200 a month on food.

must be eating some damn good food!
On the other hands, culturally, people in the U.S. are among the stingiest in the world when it comes to buying food for themselves to prepare and eat. I certainly don't spend $1200 a month for just two of us, but just last night while my wife and I were at the grocery store picking up something for dessert after last night's dinner, we grabbed a couple of other things. A little pint of red raspberries were $3.99. Ditto the little pint of blackberries. A few other ingredients, and we were up to about $20 just for a breakfast.
Most Americans see $4 for a small package of fresh blackberries and opt for pop-tarts with raspberry filling instead, because they can get the jumbo pack of pap-tarts for only $1.99 at Walmart.
 

steppinthrax

Diamond Member
Jul 17, 2006
3,990
6
81
On the other hands, culturally, people in the U.S. are among the stingiest in the world when it comes to buying food for themselves to prepare and eat. I certainly don't spend $1200 a month for just two of us, but just last night while my wife and I were at the grocery store picking up something for dessert after last night's dinner, we grabbed a couple of other things. A little pint of red raspberries were $3.99. Ditto the little pint of blackberries. A few other ingredients, and we were up to about $20 just for a breakfast.
Most Americans see $4 for a small package of fresh blackberries and opt for pop-tarts with raspberry filling instead, because they can get the jumbo pack of pap-tarts for only $1.99 at Walmart.

Count in the obesity/diabetes and other health problems that arise from this. Because somehow a salad is more expensive than a bigmac with cheese. The poor tend to gravitate towards these type of foods.
 

mvbighead

Diamond Member
Apr 20, 2009
3,793
1
81
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.

You're pretty solid at missing the point. MOST of my meals are cooked at home. MOST != ALL. Good Indian food, I go out for that. Mediocre Indian food, we make at home with jars of sauce from Trader Joes or somewhere else.

There are plenty of things we'll go out for, but the majority of our meals get cooked at home because it is cheaper, healthier, better tasting, easier, etc.
 

Exterous

Super Moderator
Jun 20, 2006
20,431
3,537
126
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.

I am thinking it might include food for parties and\or expensive alcohol. If I made $1M a year it wouldn't surprise me if buying wine added $500 to my monthly bill. Might not be the best idea but $500 a month would be a roughly proportional % to what I spend on it per year now


15 credit cards, seriously?

Whats wrong with 15 credit cards? There are certainly reasons aside from debt that it may be beneficial to have that many. And if he has multiple businesses that could also play a notable role in how many he has
 

mvbighead

Diamond Member
Apr 20, 2009
3,793
1
81
On the other hands, culturally, people in the U.S. are among the stingiest in the world when it comes to buying food for themselves to prepare and eat. I certainly don't spend $1200 a month for just two of us, but just last night while my wife and I were at the grocery store picking up something for dessert after last night's dinner, we grabbed a couple of other things. A little pint of red raspberries were $3.99. Ditto the little pint of blackberries. A few other ingredients, and we were up to about $20 just for a breakfast.
Most Americans see $4 for a small package of fresh blackberries and opt for pop-tarts with raspberry filling instead, because they can get the jumbo pack of pap-tarts for only $1.99 at Walmart.

This is definitely something I've noticed, even with my habits that we've worked to 'overcome.' Steaks for instance... well these at such and such place are 5.99 a lb, but the ones at Costco are 8.99 a lb. Now we start looking at whose quality is consistently better. Costco has some very good ribeye and other cuts, and usually of very good thickness.

But yeah, looking at quality ingredients, and sometimes people simply opt for the cheap processed stuff. It's not terribly hard to see why, but if you enjoy good food, you tend to stop buying the cheap junk.
 

steppinthrax

Diamond Member
Jul 17, 2006
3,990
6
81
You're pretty solid at missing the point. MOST of my meals are cooked at home. MOST != ALL. Good Indian food, I go out for that. Mediocre Indian food, we make at home with jars of sauce from Trader Joes or somewhere else.

There are plenty of things we'll go out for, but the majority of our meals get cooked at home because it is cheaper, healthier, better tasting, easier, etc.

Correct!!!

You'd be amazed how and why many Americans are poor. I own rental property. I had to evict one of my tenants. She was always late, her income was OK, but she was for some reason always. Well after I evicted her, she left some stuff at the place. Few things. For some reason the kitchen was always clean, but the rest of the house was in a mess, stove was clean, microwave clean, etc etc... I opened a drawer to find it filled with papers and financial statements. This women worked in a dental office as a office manager, she didn't make much, the rent was 1500 a month, this was her daily food bill.

Day 1
Chick-Fila - 10.00
McDonalds - 8.99
Roy Rogers - 7.00
Dairy Queen - 12.00

Day 2
Burger King - 18.00
Roy Rogers - 10.00
Chick-Fila - 8.00

On average she spent roughly 800 - 1000 a month on eating outside. Then I would see stupid shit like Planet Fitness memberships, Apple store purchases. In one statement she spend $14.00 at a grocery store??

I'm thinking to myself, you're eating all that fucking junk, then you work out at Planet Fitness.
 

K1052

Elite Member
Aug 21, 2003
46,885
34,850
136
You're pretty solid at missing the point. MOST of my meals are cooked at home. MOST != ALL. Good Indian food, I go out for that. Mediocre Indian food, we make at home with jars of sauce from Trader Joes or somewhere else.

There are plenty of things we'll go out for, but the majority of our meals get cooked at home because it is cheaper, healthier, better tasting, easier, etc.

You said that eating out is basically a waste of money for something you could do better at home for less. You never qualified that position in the way you're now representing.
 
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