You think people driving exotic cars and living in mansions are making millions?
$200k/year = 16,500/month
a $1M mortgage = $6,409.88/month
porsche 911 turbo = $2,500/month
= $7,600 left
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05-28-2011, 07:04 PM #1
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Things young guys forget about making and spending money:
33% tax rate, 401k/retirement savings, life/health/disability/house/car insurance, student loan repayments, kids and saving for their education, cable/phone/utilities, real estate taxes (taxes on a million dollar place will run close to 15 grand in many areas annually), emergency savings for "**** happens" insurance, annual vacation money (you will want to go on trips), entertainment dough (eating out, movies, blowing money at stores adds up). 200k is doing well but it is not anywhere close to jet setter money (either is 400k for that matter).
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05-28-2011, 07:26 PM #17
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05-28-2011, 07:30 PM #25
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05-28-2011, 07:32 PM #30
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