for example if you live in california your 250,000 gross income would be $160,545 after taxes assuming it's from salary $13,378.75 after taxes per month. still nice sum of money but you still have to watch how you spend it. it's not inexhaustable money.
The problem is you’re not really earning 250k, taxes etc all come out. So it’s actually probably half or close to it. If they earned 250k net I’m sure the number would be lower.
i seen some of those million dollar homes in cali. Looks nothing like it's worth. They be looking like something a $200K home buys you in jersey or even Ohio. Total waste of money.
You are paying for location and the ability to work in Silicon Valley. I know several people who earn $500,000 or more. They save 50% of their income and invest it. They will be able to retire early. They can go anywhere in the world with their millions and buy a home for cash.
it's about location, lifestyle, weather and safety of the city. you have to factor everything in before you can compare the prices of each location. If not, everyone would have done it already.
It’s called not being a reliable adult… if your making high amounts is because you aren’t being a responsible adult… the fact these people make so much but turn into a bad spender…
No one cares to be honest I don’t understand why this information is even getting out for people to even gives a F. My family make decent and no one here is living of pay check 🤣 get your money right BOY
After taxes, mortgage, insurance, car payment, maxing retirement plans, 529 plans and basic living expenses you are not left with much. We live paycheck to paycheck but are cash poor. We have seven figures in retirement accounts and enough to pay for two college educations but still live paycheck to paycheck in San Francisco. We also have over $1 million in home equity. We live a modest lifestyle and live far below our means. It is hard to grow your savings when you are busy just barely getting by.
@@mocheen4837"One million in home equity maxing out our retirement which has 7 figures" but also "just barely getting by" In what world is this barely getting by, that's honestly offensive to every single mother out there living in slums working 3 jobs to support her kids, that's what barely getting by actually is
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for example if you live in california
your 250,000 gross income would be $160,545 after taxes assuming it's from salary
$13,378.75 after taxes per month.
still nice sum of money but you still have to watch how you spend it. it's not inexhaustable money.
Thats horrible. Imagine we in Polandd must survive for 7k dolars PER Year!
Where is the link of other video you referring to?
The problem is you’re not really earning 250k, taxes etc all come out. So it’s actually probably half or close to it. If they earned 250k net I’m sure the number would be lower.
i make half of that net and still able to save 2-3k every month it is possible
or higgher due to lack of discipline.
And from what I have heard, as of March of 2023, it is higher.
The debt or income is higher?
@@FIREPsyChat the percentage of people living paycheck to paycheck.
I believe it
Would like a source on that “250K a year is top 5% of US earners in 2022” claim please
He said in the first 10 seconds.😂
Nope, read again. What is the reference for how much the top 5% make?
$300,000 in San Francisco is barely middle class.
That's about right. Roughly ten percent of men make over 6 figures (100,000)
i seen some of those million dollar homes in cali. Looks nothing like it's worth. They be looking like something a $200K home buys you in jersey or even Ohio. Total waste of money.
You are paying for location and the ability to work in Silicon Valley. I know several people who earn $500,000 or more. They save 50% of their income and invest it. They will be able to retire early. They can go anywhere in the world with their millions and buy a home for cash.
it's about location, lifestyle, weather and safety of the city. you have to factor everything in before you can compare the prices of each location. If not, everyone would have done it already.
Bro im in your description millenial did 290 in 2022, im like 3k cash, 0 retirement, and 12k CC debt, but will be gone by end of the month.
And definitely millenial, have a 5k travel trailer and a 75k truck owe 16k on.
Travel trailer meaning pretty much nomad(homeless).
You’ve got this. In a year you’re gonna tell me you have $100k in net worth, and then $250k the year after ✌️
It’s called not being a reliable adult… if your making high amounts is because you aren’t being a responsible adult… the fact these people make so much but turn into a bad spender…
No one cares to be honest I don’t understand why this information is even getting out for people to even gives a F. My family make decent and no one here is living of pay check 🤣 get your money right BOY
probably explains why the rich don't bother giving advice to the masses. People won't use it anyway.
After taxes, mortgage, insurance, car payment, maxing retirement plans, 529 plans and basic living expenses you are not left with much. We live paycheck to paycheck but are cash poor. We have seven figures in retirement accounts and enough to pay for two college educations but still live paycheck to paycheck in San Francisco. We also have over $1 million in home equity. We live a modest lifestyle and live far below our means. It is hard to grow your savings when you are busy just barely getting by.
@@mocheen4837"One million in home equity maxing out our retirement which has 7 figures" but also "just barely getting by"
In what world is this barely getting by, that's honestly offensive to every single mother out there living in slums working 3 jobs to support her kids, that's what barely getting by actually is