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people who make 250,000 and above are rich.
Why did boody claim they are not?
Because they aren't, you moron. At $250,000, in a 2-person household, you can afford 2 cell phones, 2 cars, your mortgage, your utilities, food, clothing, etc. You do NOT have an excess of cash you can just go out and blow at random on anything you want. You have a decent sized savings account if you're smart, instead.
THAT is not rich - THAT is called being careful with what you have. You still have to look at larger purchases carefully, and decide whether you can afford it, without irresponsibly dumping it on a credit card, and expecting someone else to pick up the tab if something happens.
at $250,000 a year in salary, assuming youre in the 25% tax bracket. Mean that you are taking home $15,625 per month after taxes. Compared to at a single person making $50,000 and in the 29% tax bracket taking home $2,960 per month after taxes.
hmmmm 5 times the pretax income, and 5 times the post tax income. and you say $250k is not rich.
we can even go farther.
Assume a $1,000,000 mortgage, 3 kids and 2 SUV's
Monthly Expenses
Mortgage - $7,000
Household Expenses (utils, food, insurance, gas etx) - $2,500
Car Payment ($2 @ $600) - $1,200
Kids Expenses ($700 / kid per month) - $2,100
Approx Total - $12,800
disposable income left $2,825
Not exactly a struggle to live.
Yep..Now, what about when your furnace breaks, your air conditioning, you need a new roof, your car breaks down, your savings account, and that ridiculous little thing called retirement, as well as holidays, washers, dryers, stoves, and the list goes on.
If you're only paying $2500 for utilities, insurance for both cars, homeowners insurance, food, clothes, vet bills, gas, savings account, etc I'd like to know what kind of deals YOU'RE getting.
I'm guessing you have a lot of CC debt, or you have never lived the life you're describing at the income level you're describing, because living that life (minus kids) I can tell you there's not that much disposable income.