Comments on: When $100,000 makes you Go Broke: The Invisible Hand Forces Americans Into Debt. http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 03:22:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: makeitby40 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-45093 makeitby40 Thu, 11 Feb 2010 05:14:50 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-45093 That budget is all too real for many of those in the six figure range, but it is wrong for us. Sorry, anyone who makes six figures a year has a choice. In the example above, they are making some poor choices. My wife and I make around $200K+ a year. We live in a home is worth $275K, and I drive a Honda Civic. Do we feel poor? Absolutely not. Quite the contrary, we believe we lead a rich, full life. I don't have a yacht or drive a Ferrari, but it doesn't mean I'm less happy. You always have a choice. You don't need to live in CA or NY. There are many options for six-figure earners. The great tragedy in America is that everyone is rich. This makes it harder for everyone to feel rich, and you get six-figure income earners saying they are "middle class". I'm sorry, only 5% of all income earners make six figure incomes. The top 5% of households in the United States have incomes of around $150-200K. You are not "middle" class. That budget is all too real for many of those in the six figure range, but it is wrong for us. Sorry, anyone who makes six figures a year has a choice. In the example above, they are making some poor choices.

My wife and I make around $200K+ a year. We live in a home is worth $275K, and I drive a Honda Civic. Do we feel poor? Absolutely not. Quite the contrary, we believe we lead a rich, full life. I don’t have a yacht or drive a Ferrari, but it doesn’t mean I’m less happy. You always have a choice. You don’t need to live in CA or NY. There are many options for six-figure earners.

The great tragedy in America is that everyone is rich. This makes it harder for everyone to feel rich, and you get six-figure income earners saying they are “middle class”. I’m sorry, only 5% of all income earners make six figure incomes. The top 5% of households in the United States have incomes of around $150-200K. You are not “middle” class.

]]> By: Deland http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-44741 Deland Tue, 02 Feb 2010 23:34:28 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-44741 There are no jobs in the midwest that offer comparitive salaries, benefits, or long term growth opportunities. If I wanted to work at KFC as a manager, I might actually have more spending money at the cost of strangling my long term career ambitions. There are no jobs in the midwest that offer comparitive salaries, benefits, or long term growth opportunities. If I wanted to work at KFC as a manager, I might actually have more spending money at the cost of strangling my long term career ambitions.

]]> By: finnskogar http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18663 finnskogar Fri, 20 Jun 2008 20:56:05 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18663 Three kids is vast luxury. Huge luxury. Global luxury. Especially living in Raleigh, NC, in the United States. You buy gas? That means you have fossil energy transport. Luxury. You bought a 350K house? Luxury. Great neighborhood? Luxury. Two working spouses? Luxury. Sorry, but you have a really good life. You just don't like how much it costs. And you don't know how to manage your money to make it go further, like those of us who lived through the Depression. Finn Three kids is vast luxury. Huge luxury. Global luxury. Especially living in Raleigh, NC, in the United States.

You buy gas? That means you have fossil energy transport. Luxury.

You bought a 350K house? Luxury.

Great neighborhood? Luxury.

Two working spouses? Luxury.

Sorry, but you have a really good life. You just don’t like how much it costs. And you don’t know how to manage your money to make it go further, like those of us who lived through the Depression.

Finn

]]> By: steve http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18479 steve Tue, 17 Jun 2008 20:42:41 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18479 Hi, Ok, I never went to college, and started making 75-110k per year when I was 22. Im 30 now. My wife works as well and currently makes 85k per year. We live in Raleigh, in a great neighborhood and paid 350k a year ago. Ok, we also have no real debt. We'll put a few thousand on a credit card, then pay it all of in a few months. Here's the rub: to stay out of debt, we end up living paycheck to paycheck. We shop at walmart. Our kids go to public schools (3 kids) and the simple fact is that 100k feels like 70k did 4 years ago. We spend 200 per week in groceries and gas simply kills us. Im sure the country felt the exact same way in the late 1920s, when they were used to the good life then like we are now. Things changed in the 30s, and are getting ready to again. Even at 180k per year, we are solidly in the middle class, nothing fancy. We sweat every bill. We sweat taxes. And we don't understand how the Hypotheticals make it. This country is built on, by and for the Hypotheticals of the world, and when they hurt we all hurt. Hi,

Ok, I never went to college, and started making 75-110k per year when I was 22. Im 30 now. My wife works as well and currently makes 85k per year. We live in Raleigh, in a great neighborhood and paid 350k a year ago. Ok, we also have no real debt. We’ll put a few thousand on a credit card, then pay it all of in a few months.

Here’s the rub: to stay out of debt, we end up living paycheck to paycheck. We shop at walmart. Our kids go to public schools (3 kids) and the simple fact is that 100k feels like 70k did 4 years ago. We spend 200 per week in groceries and gas simply kills us.

Im sure the country felt the exact same way in the late 1920s, when they were used to the good life then like we are now. Things changed in the 30s, and are getting ready to again.

Even at 180k per year, we are solidly in the middle class, nothing fancy. We sweat every bill. We sweat taxes. And we don’t understand how the Hypotheticals make it. This country is built on, by and for the Hypotheticals of the world, and when they hurt we all hurt.

]]> By: Mary http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18391 Mary Mon, 16 Jun 2008 14:43:39 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18391 The thing I can't get over is the food bill--only $550 for a month for four people! I have three children--we're five altogether--and we spend 1,000 a month easily. We could spend less if we ate less healthily and if we concentrated a lot of time & energy on frugality--but our budget only allows $8.33 per person per day--theirs allows only $4.58. I live in NYC. Any thoughts. The thing I can’t get over is the food bill–only $550 for a month for four people! I have three children–we’re five altogether–and we spend 1,000 a month easily. We could spend less if we ate less healthily and if we concentrated a lot of time & energy on frugality–but our budget only allows $8.33 per person per day–theirs allows only $4.58. I live in NYC. Any thoughts.

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