/biz/ - Business & Finance

imagine making 464k and giving 185k to uncle samuel

40% Tax ? Are you fucking kidding me

>>14183160
>uncle sam

You mean feeding like 7 niglets

$36k to 401k constitutes savings, dumbo. Paying off your mortgage, and thereby securing home equity, also constitutes a type of investment.

That said, three vacations a year, charity (especially when "charity" apparently means giving even more money to the college that fleeced you), etc. is pretty stupid.

>>14183160
W2 employees, when will they learn?

>>14183099
>3 vacations a year
>42k on childcare
>18k in (((donations)))
Raise your own kids and stop giving money to Jews, congrats you have another 60k to play with. Holy shit this is pathetic

Most of you wage slaves who complain about the rich having to much money will never understand how much fckng money us taken away in taxes so you cucks can complain about being held down by the system!!

>>14183213
sounds like the college didn’t fleece them if they secured a 500k/yr annual income zoomer faggot

>>14183264
Typical fem led household

Wife makes $75K on her meme job and they pay $42K on "childcare" and 24K on takeout

>why cant we make it!?!?

>>14183099
>charity
>3 vacations
what if we just killed all the normies? would being a NEET still be possible?

>>14183298
I make mid-six figures and still won't, and never will, "donate" a cent to my undergrad or law school. They got MORE than enough out of me. Education is a scam and should cost half what it does.

Worst budget I've ever seen in my life

>make $23k/year (part time) while going to school
>~$1600 per month after taxes
>rent is $900/month
just barely scraping by, but i'm making it

>18k on vacations every year
>~10k on clothes "for 4" per year (over 2k on clothes per person? do they replace their wardrobe yearly?)
>18 thousand to "charity"
>~10k on 2 car payments

yeah when you waste your fucking money youre gonna look average no matter what you make.

>>14183099

>Food for four:$23000 (includes TWO date nights)

Are they eating wagyu every night jesus

>>14183099
mfw those retards gives more to charities in a year than they spend on their children's education.

>>14183449
$23000 for 4 is extremely reasonable anon.
Divide that by 4 then 365 and they're only spending $15.7 a day on food. Their other expenses are extremely questionable though

People who are bad with money actually trigger me. A 5 series and a land cruiser lmao this is the most nigga rich budget I have ever seen.

>live in $1.5M home
>feeling average

>>14183099
I guess CNBC only posted that to piss poorfags off

>>14183500
In SF thats 1100 sq/ft with people that shit on your front steps.

>>14183099
>mortgage is $5k a month
>feels average

what a fucking joke

>>14183099
this list is so retarted I dont even know where to begin

I'm glad I didn't fall for the wife and children meme.

>>14183524
right, but they're spending $5k/yr on gas, so they're not in SF or any other big city. Or they're in a city and driving out of the city for work, which is retarded, like the rest of their budget.

>>14183475
2 Grand a month is not reasonable

>>14183160
uncle tom*

>>14183099

>Clothes for 4 people
>Almost 10K/year
>Over $2000 per person

They spend more on clothes in a year than I have spent in my entire life since I started paying for my own clothes.

Also, good job paying 1.5 million dollars for a house that breaks so often, you need to spend $5000/year to fix it.

$18000 to charity when you are only saving $500 a month for yourself. Based Samaritans.

>>14183545
Is that 167k number post tax?

>>14183500
It's average in Toronto

>>14183545
*chk* Yeeep... *siiiiiiiiiiiip* Sure am glad I never tied the knot. *siip* Yea, *sp* I just knew this free bird didn't need no Ball'n'Chain holdin' me down. *adjusts belly* Just like ol' Skynyrd sang on the radio. *siiiiiiiiiiiii

>>14183099
> three vacations a year
> two large cars
> 1.5 mio usd home
> charity
> student loans

god it must be awful to live in america

>>14183593
It's post tax and 55k in my 401k.

>>14183099
these people are living like absolute douchebags, and like they make 800k a year. Your average person is dogshit tier at managing money. 23 grand on eating out? Fuck you. Cry me a river.

>>14183545
based. i also average ~$2700/mo in expenses and have similar income.

Holy fuck they literally give more than half of their income as taxes. 40% income tax + 20k house tax + sales tax from each fucking purchase.
This is barefaced fucking robbery. How don't normies don't realize that? Why u burgers don't vote for libertarian party?
Even in middle ages taxes for peasants (the lowest and most despised class of all) weren't that high, they worked on their feudal's land and were giving around 30% of the harvest.

>>14183099

well fuck me. i live in a 1.5 million home and earn 500k p.a. and give $25k to charity, yet i only manage to save 300$ a YEAR.

these kids today should be GRATEFUL for flipping burgers and making $7.50 an hour - if they'd just live at home and cut down on these avocado toasts they could save more money than my poor old boomer ass

>>14183339
Exactly. I answer every time they call and pretend to not know who they're asking for. Usually stops them from calling for a year or so. Not answering just gets me harassed and they don't seem to understand the word stop.

36k in the 401k per year is pretty good
should make up for this outrages spending

>>14183634
Yeah well they picked their own cotton.

>>14183475

I have a family of four( five actually) get a Sam's membership and learn to >>>/ck/

>>14183676
This exact family is dumb as fuck because
> charity
> 401k ponzi
But there are actually a lot of people who pay this quadrillions of taxes each year. How didn't you Americans still not start libertarian revolution?
Srsly, war for American independence started when Britain decided to raise taxes by around 3%, and there were no income tax at all and no VAT/sales tax.
Wtf is wrong with modern people??? How is it ok to someone to be robbed for MORE THAN HALF of your income for your entire life???

>>14183187
That's the US. They treat us like slaves.

>>14183802
how is 401k a ponzi scheme?

>>14183802

Introduce something stupid and raise a generation around it, they'll find it normal. Old tactic, very effective

>>14183633
very nice anon - what's your target number?

>>14183099

Imagine giving MORE TO CHARITY THAN YOU SAVE HOLY FUCK

>>14183802
The U.S has the lowest tax rate out of all first world nations. Which shithole do you live in?

I make shit a year (27k) but even after expenses and deductions/tax I still clear $350 a month on average. So that's $4200 I save each yr plus my Tax refund. I'm married but no kids though.

>>14183802
At least we have representation with our taxation!

>>14183099
Based coastal elite mediafags dabbing on flyover poorfags

>>14183099

>spends 1k a month on clothes
>nothing fancy

HOLY KEK I spend less than 500 a year on clothes

>>14183099
Sa-ving? What is this? I only gamble on memecoins and mice races.

>>14183958
I haven't bought clothes in a year desu, I only buy shit like underwear or pajama pants too so it's like less than $200 a year

>>14183855
All pension plans are fucking ponzis.
401k is slightly better then social security shit that exists in my country (here younger generations literally pay pensions for old people with their taxes, unmasked pyramid sheme) but still is fucking scam.
> give your money to us
> we will invest them for u into boomer stocks
> your gains will be eaten by inflation anyway.
> paying taxes anyway when you cash out
>>14183867
Some people are fucking cattle even if they make 500k per year.

>>14183194
Imagine just letting them do this

>>14183099
Link?

>>14183998
I've been making 10-20% annual ROI on my stocks, which outpaces inflation.

Not as good as some of the bitcoin millionaires obv, but I didn't want to commit sudoku like some of the people who lost all their money, either.

>>14183874
for a long time it was $1m, then i got there and wanted $1.5m. have a feeling that when i get there the new target will be $2m. i am nervous about being bored if i quit my job though, so who knows.

>>14183958
I'm sure it's apparent too

>>14183920
> what shithole u live in
Ukraine. I earn around $50k/year (average yearly salary here is $4800, lol, so I'm considered upper class) and the only tax I pay is 20% VAT (sales tax) because kikes in the government are too weak to collect other taxes.
Still I feel that I'm robbed for that 20%, government hasn't done anything good for me for my entire life.

>>14183968
>mice races
h...hi?

>>14183968
Bubu wins the rematch

>>14184039
Nice larp.

>>14183293
Nobody is forcing you to be "rich" stupid wagie.

>>14183099
they are average. They live like absolute wage slaves normies and should just neck themselves since they'll unironically never make it

>>14183099
>expensive childcare
>(((mortgage)))
>three vacations per year
>$2400 per person annually
>$1k monthly for children's lessons
>(((charity)))
>(((student loans)))
these retards deserve to remain poor

>>14184024
There is a high probability that dollar will collapse soon. And next recession can easily wipe all your stocks gains.
Withdraw your 401k and buy crypto, land and metals anon.

>>14184089
>>$2400 per person annually
for clothing, derp

>>14183099
Holy fuck. Imagine having that much debt.

>>14183187
No one pays 40% in taxes. Even on a /biz/ board, people here are too retarded to understand progressive tax rates.

>>14183099
>three (3) vacations a year
>charity
>23,000 in food

fucking losers

>Charity $18000
Fuggg man. I'll give half my money to a decent charity that supports people in my country and city when I die but if any motherfucker thinks they're getting free money from me while I'm still kicking they can get themselves to fuck.

>>14183298
>BE THANKFUL MR GOLDSTEIN IS GIVING YOU A GOOD INTEREST RATE!
yeah sure fucking thing cocksucker

>>14184074
Not a larp at all.

>>14183099
Well no, they save $45,000 per year. 401k isn't an expense. And "Charity" is a tax break for that $18,000. So they have an additional $18,000 to save or spend, totalling $63,000 saved per year.

Also
>$3 million term life
THEY FUCKING DESERVE TO STARVE
FUCKING IDIOTS
FUCKING RETARDS
TERM
FUCK
ING
LIFE
INSURANCE

>>14184196
How to get qt ukraine gf

>>14183099
As a CPA, the tax part really bothers me. It's not a very good analysis at all.

>>14184099
>Crypto
A recession will wipe out crypto. Even if your stock gains are wiped out, hodl them if they're blue-chips and you'll be okay.

>>14183313
>And three vacations at 18k, 9.6k in car payments, and 18 in charity
Stupid fucks bought the most expensive toyota possible, probably to look humble rich.
Get a fucking minivan, most burgers with suv’s would have been fine with a minivan, but they don’t want to look like “soccer moms”. I’d take a lovely soccer mom houswife over this woman who fell for the working mom meme.
I bet there are plenty of times where she is too tired for sex because she works sooo hard. Of course her husband would probably be making more money if he was the type who could make his wife a housewife by letting her make the decision.

>>14183099
>He thinks that people that make that kind of money have student loans.
Kek. Only people at the top with connections get those jobs these days.

>>14183099
>three vacations a year

Ukraine is a crypto investors dream paradise. Tax free post apocalyptic wasteland littered with aids ridden qt blondes.

>>14184276
Or just work your ass off and become a Big 4 partner after 20 years.

>>14183634

Bernietards will tell you that's even not enough. I don't blame "rich" people for hiding so much wealth. The people making 200k-1mil are punished really hard

>>14184232
If u are white american, just promise them to take them to your country.

>>14183998

Add social security to this too. Millennials are going to get buttfucked in 30 years by that program.

>>14184311
Checked.
But u forget to mention that cost of living here is maybe the cheapest in Europe.
>>14184243
Anon, there's high probability that next recession is gonna hit harder than all previous combined. Maybe the dollar itself won't survive
Also
> crypto wiped out
No, it's gonna moon hard. 2008 recession is basically the event that gave birth to Bitcoin.
In every country where economy is unstable and in crisis (Venezuela, Turkey, Ukraine, Nigeria etc) crypto becomes well used. So if the whole world will experience a recession, money will flow into crypto as massively as they never were. And if recession happens next year together with Bitcoin halving, we will see $1M for BTC by 2021.

Seem like dumb cunts to me.

If they had any fucking sense they'd do the following:

>stop paying into pensions (total $32k saved)
>stop going on lavish holidays ($18k saved)
>stop giving $18k to charity
>eat out less / buy less clothes / be more frugal in general (can probably save another $10k easily)

That's like $80k you use to pay more of their mortgage, as they are wasting so much money on interest the $60k a year barely dents it I suspect.

Once their house is paid off, then start paying into a pension or just save a shit ton yourself easily

>3 vacations
>2 date nights
If money is so tight why the hell are you still doing this

>>14184397
i white but not american

What's wrong with giving away money to charity?

>>14184505
Doesn't matter if u are from "first world" country.
>>14184438
Wait, what? So u Americans pay into both 401 k ponzi and social security ponzi?

>>14184196
just a quick shout out to you and other's that fucking show those that call you larpers when you're saying the truth. there is too little recognition

>>14183099
>charity
AHAHAHAHAHAHAHAHAHAHAHAHHHHAHAHAHAHAHA

>>14184613
The larp isn't about the country of citizenship.

>>14183194
All benefits are paid with new fiat.
>>14184311
The ukies in america are all turkiac khazars.

Last year I was broke af doingy honours year. Saved 7k when my total income was like 12k. Had to save for my wife's visa.

Most people don't know how to save.

>>14184703
A lot of "ukrainians" who emigrated to America are ukrainian kikes.

>>14184438
>>14184544
Lol yes, I've just googled that u guys pay around 6,2% social security tax no matter if u pay for 401k or no.
Lol I thought my country is the most cucked after Sweden & France because our president and prime-minister are both open-kikes, but looks like we have a competitor here.

>>14183099
>1.5 million $ home

No, not many folks have that. Wtf this is shit.

>>14184274
My family has a couple exactly like this in it...the kid is always sick because they have them in daycare that is filled with illegal aliens.

The mom is permanently stressed, which stresses out the husband. They now say they cant have another kid because its "all just too much"

If she quit and would stay home take care of the kid, cook, clean, their lives would improve by 100x

>>14183589
>They spend more on clothes in a year than I have spent in my entire life since I started paying for my own clothes.
geez your style must suck

>>14183802
U.S. revolution began when taxes were cut, the 3% stamp tax replaced a 5% tea tax. The lowered taxes reduced incentive for merchants to use smuggled goods since the legal goods became competitively cheaper. Thus, tea smugglers like John Hancock (founder of the Sons of Liberty terrorist organization) to incite rebellion via the Boston Tea Party (which was equivalent to a modern day old tanker being sunk in the harbor)

>>14183293
communists and leftists can create money out of thin air. there are no taxes in their world.

property tax wow
cut back entirely on charity and vacations, dump it all into student loans and mortgage
they should contribute more to their 401k as well
and all that money on piano lessons and shit when the kids are young enough to be in daycare? wtf man

>>14184755
jesus christ that woman is gorgeous

>>14183313
they both contribute equal amounts to 401k which most likely means they earn a similar amount
why you gotta let your incel rage completely destroyed your rational and logic?

>>14183919
>Imagine giving MORE TO CHARITY THAN YOU SAVE HOLY FUCK
Abortions for poor people aren't going to pay for themselves, friend.

>>14183998
you know you can have total control of where your 401k contributions are invested?

>>14185883
and all right wing capitalists are opposed to the federal reserve yes? even though your joke of a president and all the kikes in his justliketheother party suck federal reserve cock yes

>>14183194
More like paying Lockheed Martin to make a bunch of planes that don't work. The niglets are a drop in the bucket compared to how the defense industries take us for a ride.

>>14183529
Property taxes appx 2k per month what the fuck
So Goldberg owns their home and THEY pay property tax. Not even talking about how outrageous the tax is.
What the fuck is wrong with Americans

>80% reacting to the taxes
>only 10% reacting to the absolutely wasteful luxury spending and disregard for their children's financial security in the future.
this is how I can tell most people ITT is not gonna retain wealth if they do get it.

>>14183920
Your chart is not describing tax rates. Fuck off IRS.

>>14183099
i wonder if the money will save them when the working class becomes violent

>>14186105
seems they are spending a lot on education for the kids even though they aren't old enough to be in elementary school yet
proper education isn't cheap

>>14183641

You know nothing of poverty do you. You stop buying food because rent is more important. I have been forced to steal water. I live in the 2nd most wealthy state. Pay 400 for rent. Being poor is expensive.

>>14183998
Oh hi fellow Italian. No, it’s just our pensions that are complete ponzis

>>14184485
Mortgage and student debt aren’t the biggest problem here
They haven’t payed off their fucking CARS yet
Just think how retarded it is investing into retirement and giving to charity with consumer debt

>>14183998
Does that account for employer matched 401k contributions?

>>14184311
based. how do I move there?

>>14185951

Even if you didn't

>Open an IRA with a brokerage you trust
>Roll over your employer's 401K into that one
>You now have 100% control over your 401K money

but we're on /biz/ where tax-deferred retirement accounts are a scam, but my internet meme money is about to moon and make me a millionaire any day now.

>>14184132
>No one pays 40% in taxes
single income of 500k in California = 42.27% tax rate
single income of 350k in California = 39.54% tax rate
single income of 250k in California = 36.45% tax rate
https://smartasset.com/taxes/california-tax-calculator

250k annual income is basically poverty in LA

>>14187034
thats the effective tax rates
the marginal tax rates are even higher

>saving money when the fed is creating it out of thin air at O% interest.

G&S to the moon

>>14183389

Hang tight anon, hedge with G&S, try and get a side hustle. We are going to make it

>>14183475
If you know how to cook you can very easily get by sub $5 per day.

>>14187034
Look up NYC now

My net salary is ~17.50% of what their combined net salaries are and I save $24k+ per year. I have almost $120k in cash from just basic discipline in a pretty short time.

Even if I consider their investments and equity (like mortgage), what a pathetic amount of savings.

>>14185076

>Using a dryer
>Throwing away perfectly good, like-new clothes because a Jew told you they are "out of style."

I still have shirts that my parents bought for me in high school, more than 10 years ago. I can wear them and look presentable. After I started an office job, I bought some nice clothes. I frequently get compliments on how well I dress at work. But, to your point, I work with engineers so the bar is set kind of low.

>>14183099
>$9000 in clothes per year
>$18000 to charity
>miscellaneous $10000
>3 vacations a year for 18000
are these people retarded?

>>14187099

Once you know how to cook, your perception of how much food costs changes. Now, I think any meal that costs more than $1 is expensive.

I don't understand, this is a US budget, but there's no line for health insurance. That's another $10-15k easily depending on the plan and how many people are covered.

>>14183583
uncle tyler*

>>14183633
>>14183545
What program/website is that?

>>14183099
>23k on food
wtf are they eating? lobsters?

>>14187238
Bank of America

>>14184159
>I'll give half my money to a decent charity that supports people in my country and city when I die
Never publicly announce an incentive for your own death

>>14183099
>there are people here complaining about the expenses
>while ignoring the $180k in taxes

>>14183099
>42k for childcare
>18k for 3 vacations
>10k for clothing
>12k for lessons
>18k to charity
>10k waste

jesus

>>14187433
Oh, fuck that then. Thanks anyway

>>14183339
>I make mid-six figures and still won't, and never will, "donate" a cent to my undergrad
Same. I went to a SUNY school, and SUNY is all in on fuck wypipo.

Well, fuck you too.

>>14183339
>MUH SIX FIGURES

>>14183099

They shouldn't even have a house payment if you are making 500k a year. Mortgages are bad investments as you pay 3x what the house is actually worth.

The have a few cars on credit and a house. They also buy garbage bullshit and go on vacation often. no wonder they are broke.

>>14184132

in california you do

>>14185913
he is describing reality, not this stupid spreadsheet.

fuck you.

>>14183099
imagine making that much money and still having a student loan.

>>14183099
Why do you have to do charity when you still have to pay your student loans?
People are fucking dumb

>>14188230

I'll bet they are doctors. They frequently graduate med school hundreds of thousands of dollars in debt. As soon as they become doctors, they mistakenly believe they are rich.

Doctor is literally the profession for people who are good at school but innately awful with money.

>>14185913
The maximum you can contribute to a 401k is $18,000

>>14188191
>>14188230
Depends on the interest rates. Mortgages and car loans are usually sub 5%. Student loans are usually a bit higher (5-7%).

>$400 per child per week childcare
>$115 per child per week lessons
If they need that much childcare, why are they even in lessons? Wouldn't school cut down most of that childcare?
>$5000/month mortgage
>$110/week per person in food

>$800/month car payments for 2 cars
Not too bad. I'm guessing they're leasing, though.
>$800/month in clothing
>$200/person
That's way too much.

I would probably
>cut charity to maybe $5k ($13k savings)
>cut down food costs and learn how to shop ($12k)
>only travel for one vacation. do something local for the other 2 ($12k)
>cut clothing spending in half ($4750)
>put that extra $42k towards your highest interest loans (probably the student loans)

maybe downsize the house. unless you're in NYC or another major city like that, $1.5m is way too much for 4 people

>>14187238
Excel

>>14188368
doctors and dentists always think they know everything

>>14187155
I think they had to throw in charity for the news report or people would yell “eat the rich” or some shit.

>>14183099
lol...

>It's a "people don't know why Financial Samurai posted that budget episode

Here, dumb dumbs, https://www.financialsamurai.com/scraping-by-on-500000-a-year-high-income-earners-struggling/

>>14188458
I want to be a doctor and I am good with money
Am I an anomaly?

>>14183516
This. Seems about right to me.

>>14183099
>401k
LOL SCAMMED

>>14187034
>>14184132
>>14183187
You cucks should check out the taxes we get in eurostan
its 52% here for all income above ~52k a year.

>>14189209
That's before vat, 20-27% depending on a country, excise etc.
Total taxes in EU easily go to 80% for bigger incomes once you factor everything

>>14189806
I wish we had only 10% vat for food like in germoney

>>14183099
I make $45k a year and end up saving about $30k
It's just communist propaganda to make people feel like they're fucked no matter what.

>>14183516
>CNBC
CNBC, a channel about fucking investing, is extremely liberal.

>>14183099
>average
>spends more on clothes than most americans spend on food in a year
>spends more on food than most americans earn in a year
>donates more than most americans make in a year to charity
>goes on more vacations a year than the next twenty americans combined for more than they make in a year.

This is called delusion.

>>14183475

I'm sorry do you regularly eat 15$ of food a day. Because even if i'm being an expensive frivilous bastard and i get cookies and bullshit drinks i can go to the supermarket and spend 30$ and eat for a week.