[flybigjet]

Originally Posted by joooiiiiii

Cool. Wish i was a pilot.

Oh-- I messed up the tax math above.

If you flew downrange 10 out of 12 months, you'd end up with about $32k that was over the tax-free limit.

BUT, BAH and BAS are tax-free, so you'd end up actually paying tax on $0 for an income of almost $200,000.

Of course, you have to get shot at each month, but whatever.

R.

[zx10guy]

Originally Posted by hubbahubba

Outstanding. Eff the projects and go sailing. Seriously, go sailing!!!

LOL.

Unfortunately, it's cold as crap out here in the DC area. My cut off for temperature to sail is around 50 degrees. I did sail one time in December.

But I have to track down why I'm having a leak in the corner of the overhead sliding hatch for the companion way. And I want get a bilge pump put in. Not to mention I need to clean the rust off the keel bolts. Got a bunch of other smaller projects to do.

[hubbahubba]

Originally Posted by zx10guy

LOL.

Unfortunately, it's cold as crap out here in the DC area. My cut off for temperature to sail is around 50 degrees. I did sail one time in December.

But I have to track down why I'm having a leak in the corner of the overhead sliding hatch for the companion way. And I want get a bilge pump put in. Not to mention I need to clean the rust off the keel bolts. Got a bunch of other smaller projects to do.

Heard that. Cold as ice right now! Bilge pumps are important. Good luck with the leak at the companion way, tough nut to crack! One other sailing tip I have is Sunday's are naked Sunday. Hard to do that if Sunday is friggin cold! Fix all you can before it intrudes on naked Sunday! Oh, and have the Mimosa's ready!

[M340Why]

Your lease on your 2019 $120k car is almost over and you replaced it with a 2021 $120k car. An M5 lease payment is $1000-1300 if done right. It's not a civic but its doable if you're upper middle class ($150k a year outside of CA) and your car is one of your priorities.

[amus3d]

This is so true...

[ASAP]

Originally Posted by amu3ed

This is so true...

Lol i laugh at these so much...

Zuck is a sw engineer and his wife is a dr... they have 0 interest in fashion.

Middle is megan fox who is gettting her coffee and is in hollywood and definitely flashes at the right time.

Left is prob not a poor person.

Yes, there are dumbasses that spend all their money on flashy items... but... would millionaires exist without those people? Think about it.

[Alfisti]

Originally Posted by M340Why

Your lease on your 2019 $120k car is almost over and you replaced it with a 2021 $120k car. An M5 lease payment is $1000-1300 if done right. It's not a civic but its doable if you're upper middle class ($150k a year outside of CA) and your car is one of your priorities.

On 150K a year, $1300 a month on a car is INSANITY. That 150K has to be taxed, you can barely raise a middle class family on 150K.

[MKSixer]

Originally Posted by Alfisti

On 150K a year, $1300 a month on a car is INSANITY. That 150K has to be taxed, you can barely raise a middle class family on 150K.

Making $150K taking home about $8250 to $8750 per month with a home expenses and other expenses making up another $4K per month, depending on family size isn't that much of a stretch.

It's not a decision I'd make but I've seen worse.

[CTinline-six]

Originally Posted by MKSixer

Making $150K taking home about $8250 to $8750 per month with a home expenses and other expenses making up another $4K per month, depending on family size isn't that much of a stretch.

It's not a decision I'd make but I've seen worse.

There's a lot of variables involved with other expenses. Huge difference between having a smaller house/mortgage payment, versus a huge payment on a McMansion. Taxes and other expenses also are big factors.

[MKSixer]

Originally Posted by M340Why

Your lease on your 2019 $120k car is almost over and you replaced it with a 2021 $120k car. An M5 lease payment is $1000-1300 if done right. It's not a civic but its doable if you're upper middle class ($150k a year outside of CA) and your car is one of your priorities.

I'd call $150K per year middle, middle class in most places unless it's a single person with no family, not a single-earner nuclear/other family.

[MKSixer]

Originally Posted by CTinline-six

There's a lot of variables involved with other expenses. Huge difference between having a smaller house/mortgage payment, versus a huge payment on a McMansion. Taxes and other expenses also are big factors.

Exactly.

In our state, you'd probably be stuck with 8-12K per year in private school tuition per student. That's 16-24K in AFTER TAX money.

Poof! There went the M5.

I know this. I didn't purchase the i8 until AFTER my daughter finished HS.

[MKSixer]

Originally Posted by amu3ed

This is so true...

That's quite the pair of cankles Zuck's wife has on her.

[GenXer]

"I'm in debt up to my eyeballs" Let Lending Tree.com put you into an even larger debt with a much higher interest rate!

I think wealth is relative. In Miami driving a $100K car is the norm. Will Smith even wrote a song about it. Wealthy people down there drive $350K cars.

Personally, I prefer to make a decent wage in a small town and having my dollar stretch much further. This gives me the opportunity to change my vehicle almost at will.

[GenXer]

Originally Posted by JJ 911SC

There was a Mad magazine version but it will do...

B reak
O ut
A nother
T housand

My boat has been dry docked since 2009

[dmatre]

Originally Posted by MKSixer

I'd call $150K per year middle, middle class in most places unless it's a single person with no family, not a single-earner nuclear/other family.

Kids are a huge expense.

In the mid-90's we calculated that the kids cost around $750/month each between day care, diapers, formula, pediatrician visits, outgrowing clothes every week, etc.

Two kids = monthly payment on 3 nice cars.....

[David70]

Surprised at how many try to classify "rich" only on income. It's only part of the equation. So many other things go into how much money is left for doing what you want that one person could easily make twice what another does and barely get by.

With the income calculator above, if you are 60 years old with household income of $270k a year it says you are in the top 3% with income but with no savings you are also F'd.

[MKSixer]

Originally Posted by David70

Surprised at how many try to classify "rich" only on income. It's only part of the equation. So many other things go into how much money is left for doing what you want that one person could easily make twice what another does and barely get by.

With the income calculator above, if you are 60 years old with household income of $270k a year it says you are in the top 3% with income but with no savings you are also F'd.

Only if there is crazy debt and expenses for that level of income.

And you are sooooooo correct in the number of variables involved in the equation. It is insane to only look at one aspect and pronounce someone "rich"!!

I have a buddy who did his 25 in the Navy, has zero debt, no kids and makes another $150K in consulting and has done so for the last 10 years. He's sitting pretty.

[MKSixer]

Originally Posted by dmatre

Kids are a huge expense.

In the mid-90's we calculated that the kids cost around $750/month each between day care, diapers, formula, pediatrician visits, outgrowing clothes every week, etc.

Two kids = monthly payment on 3 nice cars.....

Only 2 nice cars...

LOL!!

[NorCalAthlete]

I'm looking at mid-range of entry level townhouses to purchase and it's still like $850k-$950k for a 2 bed, 2 bath that may or may not even have a garage.

That's gonna be about a $4k mortgage or more depending on HOA fees (some of which can hit $800 / month).

Just doesn't make sense to me to get an M5 or something when I'm not going to be tracking it or anything. At the same time though I just can't do the 4-banger so M440 it is.

[MKSixer]

Originally Posted by GenXer

"I'm in debt up to my eyeballs" Let Lending Tree.com put you into an even larger debt with much a higher interest rate!

I think wealth is relative. In Miami driving a $100K car is the norm. Will Smith even wrote a song about it. Wealthy people down there drive $350K cars.

Personally, I prefer to make a decent wage in a small town and having my dollar stretch much further. This gives me the opportunity to change my vehicle almost at will.

Spot on!

I've always gone with living in a lower-cost area with a national level company and compensation. It's worked well for me. When I last worked for another company, I was making the same salary as the guy in NYC. Guess who lived better?

[David70]

Originally Posted by MKSixer

Only if there is crazy debt and expenses for that level of income.

And you are sooooooo correct in the number of variables involved in the equation. It is insane to only look at one aspect and pronounce someone "rich"!!

I have a buddy who did his 25 in the Navy, has zero debt, no kids and makes another $150K in consulting and has done so for the last 10 years. He's sitting pretty.

$270k in household income, age 60, normal debt and expenses, zero savings, I don't see this person having the option of retiring in the next decade unless he wants to take a massive hit to his income and to me is F'd. Not following how he only has a problem with crazy debt and expenses.

My goal is to be able to retire at 53 if I want to, maybe get a job that doesn't pay much but I like more or keep a similar job as I have now and spend more. For me the "rich" is being able to leave my job and not worry about it. I shake my head at the guy making $300k in a panic because he lost his job last month and has to find a similar job quickly, shouldn't ever happen.

[amus3d]

Originally Posted by NorCalAthlete

I'm looking at mid-range of entry level townhouses to purchase and it's still like $850k-$950k for a 2 bed, 2 bath that may or may not even have a garage.

That's gonna be about a $4k mortgage or more depending on HOA fees (some of which can hit $800 / month).

Just doesn't make sense to me to get an M5 or something when I'm not going to be tracking it or anything. At the same time though I just can't do the 4-banger so M440 it is.

I don't know your work situation but have you thought about moving to the valley? My wife has help so many people relocate in recent months because of WFH. $950k in the valley goes much much further.