Report reveals even upper middle class in US experience financial hardships like most Americans

Americans are falling short when it comes to saving. Even some families earning six-figures have little to no savings.

As the example of one New York City couple shows, you and your partner could be making $500,000 a year and still end up with very little besides 401(k) money.

Sam Dogen of "Financial Samurai" breaks down the budget of two New York City-based spouses, each of whom makes $250,000 a year as a lawyer. They're 35 years old and they have two young children. "This one couple shared their story and I decided to anonymously highlight their reported expenses," Dogen tells CNBC Make It, with a focus on why they end up feeling "average" even though they're such high earners.

Take a look at exactly where their money goes.

As you can see, they both max out their 401(k) plan each year and are working on paying down student loan debt. But, even though they qualify as "upper-class," after taxes, fixed costs, childcare and discretionary expenses, there's only $7,300 left each year to go towards other savings goals, investment accounts or retirement funds.

As Dogen puts it, they're effectively "scraping by," in part because they're still living "paycheck-to-paycheck," despite their generous salaries.

And they're not the only high earners having a hard time saving.

In North Fulton, Georgia, a suburban area where homes sell for $500,000 to $800,000, residents earning six figures are struggling to set aside money for retirement, college and other major expenses. Some living in the area who earn $100,000 "are living paycheck to paycheck," the Washington Post reports, and even families earning up to $250,000 "don't consider themselves to be high-earners."

cnbc.com/2018/03/06/budget-breakdown-of-a-couple-that-makes-500000-a-year-but-cant-save.html?__source=twitter|main

Attached: 1554141248581.png (626x729, 134.52K)

23k for food
BMW
full coverage life insurance
18k or vacations

oh fucking woe is me

These situations illustrate how difficult it can be to avoid lifestyle creep, especially in expensive cities like New York and San Francisco, where highly paid Facebook engineers recently resorted to asking Mark Zuckerberg for help paying rent.

Ultimately, a hefty paycheck doesn't always guarantee wealth or financial peace of mind. By contrast, budgeting and living beneath your means, no matter your income level, can help you out tremendously in the long run.

$9,500 per year on clothes

Most Americans don't have $300 in savings if any at all, so this couple "only" having $7,300 to invest at the end of the year after "discretionary expenses" is a joke. That is not living paycheck to paycheck no matter how you cut it.

This is just the rich and ruling class bullshitting and hoping gullible poor people buy it so they feel sympathy for their overlords and keep the orange man's tax cuts for them.

>$42,000 on (((childcare)))
>$9,500 on (((clothes)))
This disgusts me on a visceral level.

Attached: 17423044fe937c8625f89c77c457f10b913226e950111daefe7d06b25ad6016f.gif (360x357, 62.82K)

Budgets are key to success

And here I am surviving on >$500 a month as a n e e t. I don't buy new clothes because the ones I have are comfy already, I don't eat at restaurants because I enjoy cooking for myself, I don't go on vacations because vidya is enough fun for me, I don't have to wake up and go to work, I live a life of leisure.

The only problem with Neetdom is that you basically build a comfortable fortress.

In the long run your social skills erode and you don't develop new marketeable skills or even skills in themselves.

Neet is only worth it if you want to try some medium-long term project as a result. Otherwise it's time wasting.

Where's the part where they have to decide on budgeting food or savings but not both?

Also you're supposed to have your expenses match your budget. You're supposed to have "x for savings, x for food" etc etc. You should come out to a net difference of 0 if you have an incredibly tight and well-thought-out budget.
Having anything in surplus is just surplus. What kind of bullshit is CNBC trying to pull?

10k per year on 'stuff that always comes up' that they cant name?
What would that be? Drugs?

I wouldn't trust these guys to budget a grocery trip, these guys are deluded.

How can anyone feel sorry for these fucking leeches? It must be fucking nice to take 3 vacations a year.

Oh wow $27.40 each day on dope they must be so addicted.

Lot of normies are shitty when it comes to saving. I’ve had coworkers who fork out their savings for shit that devaluates rapidly in the long run.
What isn’t emphasized enough in this report are the people who have +$100,000 in student debt. Those people will never be able to hold down a mortage on a home, but somehow will still have children.

Attached: 1B860D9F-56C6-4B94-9A11-C8F637D37306.jpeg (960x540, 265.22K)

Falling for the Holiday jew. You don't need to fly off to some nig country 3 times a year to get a sandy vag and instagram shots. It's not a priority, it's not cathartic, any relaxation you achieve is outweighed by the stress of getting there and back.

Holiday in your own country if you really need to, a tent and a national park is all you need to "get away for a while".

This isn't due to living expenses but due to profligacy and lack of propriety and wisdom.

There is no need to leave the US to find amazing nature and relaxation. It's really a great country that hasn't been spoiled yet. There is still a lot of wildlife and untouched land to explore and enjoy.

That's a gram a day. That is literally smoking weed everyday.

Vacations? I'm lucky if i can save up 1.5k dollars every 6 months to go hunting for old vidya in the next town over, fucking rich people lmao.

Someone doesn’t have a woman.

Why would he want to? Fuck outta here (((man))).

Because women are useful, (((faggot))).

this is obviously misleading. upper middle class Americans experience much more hardships than most Americans. the real question becomes, when can upper middle class Americans qualify for protected status?

They are worse than niggers who pay $500 for a pair of beats headphones, Instagram generation cuz

he means heroin, zoomer

My boss and his wife are right at $2m annually. About a month ago at the office one morning his wife tried to woe-is-me tawm bout how they *are* the disappearing middle class. I was like ma'am, 'THE FUCK are you talking about, middle class is like $32k a year. She said, "Oh. Well I don't know numbers or whatever, but we're not doing that well!"

Wealthy Republican boomer small business owners are –so entirely divorced– whatthefuck is going on that they literally don't even know what they're saying.
They really do regard themselves as living thin because they're entitled as shit; no spoiled-ass kid can see really how well they have it.

childcare, charity, and miscellaneous are especially egregious
so what do they spend the $7k on after every conceivable need and many wants are accounted for?
imagine being so hypocritical that you don't even budget for utilities in a budget trying to show how hard you have it. I guess this guy mows his own lawn too by the way.

$42,000 for childcare?

Damn, sure does cost a lot to keep your kids out of the schools with niggers. Now you know why these wealthy cunts don't care about endless shitskin immigration, they never personally suffer under it.

Here is a wild thought, get all the shitskins out of our public schools and they will be safe for all kids, then you can save 42g's on childcare.

Wut. I think my family spent like $500/month feeding seven people, and we ate relatively well (pork, chicken, occasionally beef, etc.).

$42,000 is justifiable on childcare if they're including private schooling in that figure. The rest is absolute shite.

Nah, Nipland and a few other foreign countries where you're out exploring things you can't see at home are justifiable. It's faggots who waste their time/money going to some shitty resort town in Mexico so they can swim on a beach, drink $20 margaritas, and stay at a hotel that are the problem.