In addition to including multiple things that are way above what the average person can expect (a BMW, for example - and 18k in charitable donations) they include 36k in 401k contributions and 60k in mortgage payments with 7k left over (after miscellaneous expenditures).
That's 100k invested per year (either in home equity or the market) at the most cost intensive time of their life (having children to care for).
Edit: The sickness is that they earn $500k, and how much are they getting to spend on fun? Maybe $50k. Where’s the yachts, hookers and blow? Work life balance doesn’t exist at $500k, so most of us in the world are screwed as we get a lot less $ than that. Meanwhile comments are dissing them, often for not saving enough, like that’s the point of living huh? What are they actually getting for their work? Nothing much they want, mostly just surviving.
> That's 100k invested per year
Not quite: you are assuming the $60k is all principal, when if they have 20% paid then principal is 40k saved per year. The article was at low interest, whereas today 1.2M$ mortgage at 5.5% would now cost $66k per year in interest (until mortgage paid down more) and a house costs more - mortgage more like $120k today.
What is weird is that you would think it would be easy for them to save say $250k per year, but that doesn’t look to be easy. Both working means large costs for childcare.
Also there is four of them, so although they need 1 house at present, the four of them will need more houses in the future, so they are potentially shorting the housing market a little (and needs some expected outlay for divorce - at least 20% risk).
There was no separate line item to help finance the kids at uni either.
I get it: we look at wealthy people and wonder how the hell they spend so much. But look behind you, and someone much poorer than you is wondering how the hell you spend so much.
In addition to including multiple things that are way above what the average person can expect (a BMW, for example - and 18k in charitable donations) they include 36k in 401k contributions and 60k in mortgage payments with 7k left over (after miscellaneous expenditures).
That's 100k invested per year (either in home equity or the market) at the most cost intensive time of their life (having children to care for).