Author Topic: $350 K and feels "trapped"!!  (Read 12470 times)

Offline Herbalpagan

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Re: $350 K and feels "trapped"!!
« Reply #30 on: March 19, 2012, 01:42:02 PM »
People are always amazed when they find out that making X amount of money doesn't mean what they think it does. WE may think that's a lot of money, but it isn't.  Yound Wall Street guys forget that they still will have to put on their pants one leg at a time (by themselves) just like the farmer in the country. Young Wall Street wives are always surprised to discover that they still have to change a diaper and wipe snot of their kids face, just like the truck drivers wife.
The problem is tht they think they are making millions, they by into the "fake it till you make it" idea, they feel that they have to join the club, take lessons, go to dinner at the expensive places, get the expensive house and it will get them more money and better jobs. It's a lie. People live up to their paycheck, in general. The rich guy can get in over their head as easily as the poor guy and at $350k in NYC, he's not one of the rich guys.

Offline summer98

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Re: $350 K and feels "trapped"!!
« Reply #31 on: March 20, 2012, 05:50:58 AM »
Dainty, I get where you're coming from, but I can't muster any sympathy for him. When I was growing up, we were homeless on and off; I literally ate out of trash cans at times. As an adult, I've made ends meet on as little as $6k a year. In other words, I've really struggled in life at times. So when I hear someone whining about not being able to live like a rock star on (literally) 10x what K and I made pre-tax last year, I'm torn between the desire to punch the a**clown and laugh at him.

His whining -and that is what it is -feels like being kicked in the gut to someone like me. I could set his entire financial picture straight in about 30 seconds. Just give me the ledger and a pen!

Offline Roundabouts

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Re: $350 K and feels "trapped"!!
« Reply #32 on: March 20, 2012, 07:41:14 AM »
Dainty I couldn't have said it better.  I would like to add.  I can imagine that if I was being interview and I was worried about wow now I don't have the money to buy those baby trees or fence my 5 acres.  We had expected and planned on having 20 ac.  It will be hard to tell my dogs that they will have to eat dog food because I can't afford chicken for them any more.   Or this year to cut back we will only be able to go camping for 2 weekends instead of 6.  Paying insurance on the two cars (both 10+ yrs old) is getting difficult.  I would imagine that many people would say oh stop whining at least you have 5 ac !  What 2 cars I'd kill for a bus pass!  Cooking for your DOGS WTF  I am eating out of a dumpster!   

Even when we are at the lowest of the low in our minds there is always someone who could say.  Wow whats a bus we don't even have roads.  You have food in dumpsters?  What's a dumpster?  Look at that whiner at least you have access to clean drinking water.  Those people are so spoiled they don't even have a clue as to how good they have it. 

Yes downward class migration shows no mercy it can effect us all.  Sounds to me that this guy really needs the Survival Podcast.  He could learn something from Jack & us.  So if he did show up looking for a better way would we just say oh you are not welcome because you have made too much money and wasted it?   You have acquired to much debit so we don't want your kind here?   I'd venture to say that that would not be the case.  I would hope we would welcome him with open arms.  Right now he is just another grasshopper that is possibly in the process of waking up.  The article did say he donates 100k percentage wise I can honestly say I don't donate that much.  It also said he is trying to cut back.  So he didn't fly for a weekend trip good for him.  When I had to cut back I didn't buy my weekend starbucks.  Same thing.  Just a different price /class set.   Also he said he feels trapped.  I can relate as so many who are upside down in their mortgage.  Those that want to move and get out but can't without taking a huge blow.  Those that want to move to the country but have jobs to good to leave. 

 I think it is  the debit snowball guy who says it takes about 3 yrs on average to get out of debit no matter what you make.  The ratio of debit to income is always about the same. 

So if you feel the need to email him or post a comment maybe inviting him to pop over he may learn something.   Just saying because my first knee jerk reaction was dang must be nice to have that problem.  Then I read the article again and had a shift in my thinking from a different point of view.   


Offline Adam B.

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Re: $350 K and feels "trapped"!!
« Reply #33 on: March 20, 2012, 08:09:32 AM »
I think it is EASY to get into such a high amount of debt if you make $300,000 / year that should you LOSE that level of income — well... I don't see how paying off a million dollars of debt is possible on hamburger wages!

However, I don't have any sympathy for someone who makes $300,000 / year and whines about not being able to afford private school tuition and put a new Mercedes under the Christmas tree every year. Boo F-ing Hoo.

Offline Rorschach

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Re: $350 K and feels "trapped"!!
« Reply #34 on: March 20, 2012, 11:57:37 AM »
I listen to the Peter Schiff Show frequently and he recently had his brother on due to this; Andrew also in the past hosted the show for Peter, and he seems very solid in his thinking.  Andrew feels the reporter was not very honest in the way his comments were portrayed, and that  the articles about the original article stayed even farther from reality.    I don't think he meant to complain about his income, but he did seem to want to communicate that money, does not go as far as you would expect in a high tax state like NY, and yes he does spend extra money to keep his children out of the public schools, which I think is another indication that he good priorities.  His apartment in square feet is smaller than the house I have owned when I made a 10th of what he does, and he does not have a dish washer due to space constraints.  He communicated that by no means has a rough life, but not necessarily the things that many of the people around the US or in this community would have if we had this income. 

Offline Adam B.

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Re: $350 K and feels "trapped"!!
« Reply #35 on: March 20, 2012, 12:20:47 PM »
Quote
...he did seem to want to communicate that money, does not go as far as you would expect in a high tax state like NY

That ain't no joke. I can't tell you how many people I've known who left Pittsburgh or other inexpensive areas and moved to NYC making SLIGHTLY more than they currently made.

One guy I know moved to NYC and was making 55k/year. He was paying $1300/mo for a STUDIO apartment on a 5th floor WALK UP in Brooklyn. He had to sell his truck because his insurance went up to $7,000 a year — AND he would have needed to PAY SOMEONE to move it from one side of the street to the other TWICE per day to avoid getting towed and ticketed for street cleaning. He would have also needed to pay for a parking permit to park on his street.

He had to take the train every day to work while his boss drove to Manhattan every day in a Mercedes, paying $50 - $100 a day just for parking.

He lived there SIX MONTHS... Got sick of it, packed up his crap and moved back to Pittsburgh, took a $60k/yr job, bought a house, bought a new truck, and hasn't looked back since. He probably makes more now that he has been with that company for a long time.

He had to continue paying his rent in NYC for the remainder of that year because of his lease — and so he would gather his friends every weekend give or take, and drive to NYC to party all weekend — having a place to stay, until his lease was up.

I've told people, and my family that the ONLY way I could even CONSIDER moving to NYC (where there are TONS of jobs in my field) would be if I made at least $200,000 / year. I would not move there for a penny less.

The thing that boggles my mind is that the jobs I see in my field there MAYBE pay 10 - 20% more than I make here for the same thing — yet the cost of living is about 3,000% higher!

I know so many people from NYC who tell me all kinds of crazy stories because people still work for minimum wage in NYC and somehow survive!

I can't even imagine how someone working minimum wage even makes rent on a $1300/mo apartment. And THAT IS CHEAP for NYC.

Offline chickchoc

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Re: $350 K and feels "trapped"!!
« Reply #36 on: March 20, 2012, 05:26:16 PM »
So what makes NYC so attractive that millions want to live in the city or its environs?  With ubiquitous telecommuting there is no real reason for anyone to put up with the insane and assinine cost of living there IMHO.

Offline Roundabouts

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Re: $350 K and feels "trapped"!!
« Reply #37 on: March 20, 2012, 05:37:09 PM »
I don't have any idea why?  Other than the vast sea of people makes it easy to hide in.  I guess it could make some feel safer?  I don't know just glad they want to live their that way there are not so many that want to live in the country.  More space for me.  Big cities like that make me crazy and nervous.  It's like hell on earth. 

We went to New Orleans once for a business trip after the second day I was in tears and wanted to go home.  (That is a small city compared to NY or LA)  I felt much better when we got out to the swamps.  Went on a boat ride.  What a cool place.  Wouldn't want to live there but great to visit!

Offline bigbear

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Re: $350 K and feels "trapped"!!
« Reply #38 on: March 21, 2012, 11:28:23 AM »
@ Adam - Some people I know moved to NYC to start their careers, slap it on the resume, and move back home.  They NYC move may not have started with that motive, but they always came back home to a higher paying job.

@ chickchoc - My guess, it's the media-driven lifestyle.  Wall Street, banks, huge accounting firms, TV stations, Broadway, huge marketing firms...  It's all about succeeding in those realms.
Then you have a ton of immigrants and sub-cultures.  NYC is home for them as there are more people with commonalities than most other places in the US.

Offline Adam B.

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Re: $350 K and feels "trapped"!!
« Reply #39 on: March 21, 2012, 11:52:23 AM »
Its the excitement for younger people. I grew up in the middle of nowhere, my next door neighbors were family, and all living across the cornfields from one another.

There's nothing to do but "get drunk and screw" as they say. I was out of there lickety split when I turned 18 and was done with high school.

I am 50/50 when it comes to city vs. country. The convenience, never a lack of things to do, the ability to find the things you need/want easily with multiple options, etc make the city attractive. However, being all on top of everyone else, the crime, idiots everywhere, scumbag police, being crapped on constantly by more layers of government, and the expense of it all are my reasons to hate it.

Because of my career choices, I still need to live near a city. People still expect to see you in person even though I can technically do all of my work from a tropical island if I have internet access. There are WAY more jobs for me in NYC than where I live now, even though I bet they all suck.

You won't see me moving to an lsland where I need to pay $10 - $20 whenever I want to leave or come back and then pay up to $100 / day to park my friggin car (and you will never see me living somewhere without a vehicle of my own).

Offline Morning Sunshine

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Re: $350 K and feels "trapped"!!
« Reply #40 on: March 21, 2012, 12:52:19 PM »
I love NYC... to visit.  as a day trip, it is a blast.  I want to take my kids to see it, and hang out there for a day or two.  there is a certain excitement to The City.  It is alive, it is vibrant, it is American.

and, call me crazy, but I love love driving in New York (maybe it is cuz every one there drives like me :P)

and, I love saying goodbye at the end of the day.  There is not enough money you could pay me to live there and raise my children there.

Offline LJH

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Re: $350 K and feels "trapped"!!
« Reply #41 on: March 21, 2012, 02:07:21 PM »
I love NYC... to visit.  as a day trip, it is a blast.  I want to take my kids to see it, and hang out there for a day or two.  there is a certain excitement to The City.  It is alive, it is vibrant, it is American.

and, call me crazy, but I love love driving in New York (maybe it is cuz every one there drives like me :P)

and, I love saying goodbye at the end of the day.  There is not enough money you could pay me to live there and raise my children there.

This! I haven't been to NYC or New Orleans or even San Francisco in decades but for me large citys are kinda like going to the zoo, except the animals are there by choice so I don't have to feel sorry for them.