$175,000+ Salary Earners Call Themselves “Poor”!
ฝัง
- เผยแพร่เมื่อ 7 มิ.ย. 2024
- 💵 Create a free budget. Sign up for EveryDollar today! ⮕ ter.li/owvnye
The upper class is playing the victim-and we’re not buying it. Listen as Rachel and George channel their inner Kourtney Kardashian and give six-figure earners the sisterly wake-up call they need. Plus, how much margin does the average American have in their budget compared to someone with a $175,000 salary?
In This Episode:
• The meaning of “poor” and why the wealthy feel this way
• George’s history with nonslip pet ramps and Rachel’s iconic Kristin Wiig impression
• The ultimate budget showdown: $59,000 vs. $175,000 (who runs out first?)
Helpful Resources:
• Start making memories. Go NOW and get Tapple at Walmart! www.walmart.com/ip/Tapple-Wor...
• Booking a flight with Going is the best and simplest way to pay less to travel more. Sign up for free today at Going.com/smartmoney.
• Enter the Ramsey Cash Giveaway for a chance at $3,000. bit.ly/SMHHgvwy
• Do you have a Guilty as Charged question for Rachel and George? Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.
• Learn more about your ad choices. www.megaphone.fm/adchoices
Ramsey Solutions Privacy Policy
This Week’s Happy Hour Special: Citrus Smash
Recipe from A Pinch of Adventure
Ingredients:
• 1 tbsp lemon curd
• 1 tbsp simple syrup
• Club soda or seltzer
• Fresh mint leaves
• Sliced lemon
• Ice
Instructions: Put about six mint leaves, four slices of deseeded lemon, simple syrup and lemon curd in a highball glass. Muddle together. Add ice and pour over club soda. Garnish with fresh mint and enjoy!
Pull up a chair to the happy hour you wish your friends were having. Mix two money experts with some hot takes and a splash of nostalgia, and you get Rachel Cruze and George Kamel talking unfiltered about what’s going on in the world, pop culture, and how to afford a life you love.
Watch and subscribe to all The Ramsey Network shows here: th-cam.com/users/TheRamseySh...
Ad Choices | Megaphone by Spotify
megaphone.spotify.com/about-a...
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
When I was younger, I had a 6-figure income and spent it all. I was deep in debt for years. Then I sold everything to pay off my debt and travel the world. I lived out of a suitcase and bought only what I could carry or consume. I learned to live on less yet feel rich. Now I’m retired, living on $3K/mo. I can buy whatever I want, but the difference is that I just don’t want that much anymore.
Tesla is a luxury car
I am convinced this was written by AI
Bravo
I can't even enjoy Christmas anymore because I'm surrounded by people who insist of forcing me to have more and more things. I don't think they will ever understand that everything they buy me just gets donated or trashed because I am contempt with what I own. I just want to play a board game or a card game with people for a day.
@@thedude5040omg totally agree!!!
I grew up under the poverty line. My father supported our family of 5 with 14k/year. I graduated with an engineering degree started working for a fortune 500 company making 50k but living paycheck to paycheck for 5 years. One day it hit me that this math did not make sense. I quit my downtown job where I felt pressured to keep up with my mostly wealthy coworkers, driving high end cars and eating out everyday. I took a higher paying job at a factory in the same city where I was surrounded mostly by blue collar workers. There you were respected for being humble and hard working not materliastic things. I followed the baby steps and within 3 years paid off 20k in consumer debt, saved up a 20% downpayment and bought a house. Finally, 3 years later paid off the house.
" You are the sum of the people you surround yourself with"
I agree with you but I also think you can be surrounded by people like that AND still withstand the pressure to live like everyone else. It just depends on people’s willpower when it all comes down to it. I’ve run into a few people who had that kind of willpower to not care what everyone else thought they should do with their money or time and just live within their means/below their means to maintain their peace.
Incredible, paying off house in 3 years!!!
@@duckylmexicanI agree. Get a decent haircut and wear clean, undamaged clothes. Other than that, who cares about people who care about labels or the car you drive?
I probably spend less than $300 per year on my clothes. I don't let myself get fatter and fatter though so my clothes last. I probably spend around the same ($300 per year) on haircuts though since I had more than enough cheap, botched Supercuts as a kid. So I pay the premium for infrequent high quality haircuts.
This is so great! Thank your parents for teaching you how to appreciate the important things in life.
Teacher stat is gonna be highly tainted by significant others that did not have to work at all due to husbands salary but found a job that went well with child care. This would represent approximately 33% of my neighborhood.
Cars are such a weird thing to measure people from. I own a Lexus GX, LS 430 and a Porsche 911. I paid $38k for all of them. They’re older but in great shape. I do most of the maintenance on them to save money. Some people have asked me how I afford my cars and I tell them to buy used and pay cash.
My mom recently told me she doesn’t feel rich- well off, but not “rich.” She and my dad are retired, no debt, their daily expenses are covered by pension and social security, but they also have several million in retirement and brokerage accounts. They just bought a brand-new car (replacing a 17-year-old car when the transmission died) in cash that was more than they spent on their first home. She couldn’t give me an explanation as to why she isn’t rich, or what would get her there, just that she doesn’t feel it. (My dad does feel rich, because, “I grew up worried about money. Now money is no object. That’s rich.”)
My friend husband works in the oilfield. He makes GOOD MONEY. and she worked also (4 kids) But they always lived paycheck to paycheck. Going on trips, buying brand new vehicles, expensive jewelry, extravagant parties. "Lending" money to her siblings. They never paid her back.
Y’all should definitely do an episode where you play Dave’s “Act your wage” board game 😂
When I was making $175k, I still felt poor, but logically I was not. I think it was because taxes took out about 25%, tithing was 10%, house expenses were about 20%, utilities and expenses were probably another 10%, savings was 15%….I’m already up to 80%, and I’m so grateful I don’t have any more debt! With 5 kids and an active family, I knew I wasn’t poor, but I didn’t “feel” like I was comfortable because I never really had much extra, but money was going to savings and all the important categories.
You just described having $35,000 extra per year. I can only guess you were mindless spending on things that didn’t give you meaning. Am I wrong?
@@tobymarx-dunn2332 100% wrong. As A family of 7 living in CA and making house payments, I was on a pretty tight budget making $175K. Now, I have 1 in college, 1 18 year old High School senior, and a high 7 figure income, so now we buy extras that many would call unnecessary (Sushi last night with my kids and daughter’s 3 friends. $400 tab and I left a $200 tip. Unnecessary). My 21 year old daughter is on Spring break, so I flew her and her 3 roommates out to visit San Francisco and check out Northern CA. Also unnecessary. I just bought an 89 HP tractor because we added a 15 acres property with 2 more houses to our ranch- unnecessary. My compact tractor was just too small. The new tractor has AC, Heat, Blue tooth, etc.- Unnecessary. I kept the compact anyway for my 3 younger boys to learn to work with- very necessary.
I’d love to not feel comfortable in your position.
I was not ready for the keeping up with the Kardashians scene at the start 😭
A $100k income being a symbol of wealth was a concept thought of in the 70s and 80s. But $100k has the same buying power in 1985 as $292k has today. A family making $175k is not poor.. but not filthy rich as the culture would lead you to believe or expect.
Dude since when is anything under 1 million a year rich almost everywhere? 175K is only 1million and 750K in 10 years....
@@kimberleyhunter6815 Just because they make 175 does not mean their bills are not high.
@@kimberleyhunter6815 While I see you thinking about the numbers do you know what it cost to rent in a "good" area in SF CA? Also have you even taken into account other cost like student loans, cars loans, child support etc.? And to get a 175K job or jobs that might cost some people 100K to 300K or so. The cost to live and the cost of past bills and the cost of current bills can easily equal or surpass 9K a month depending on conditions. I am not even thinking about supporting others etc... The way I see it I cost about $17 an hour just to be short each month ($18 minimum to have some left over) so in a places 5X more expensive than where I live (my base cost should cost about 2,400 - 2,800) their base cost could easily be 7K to 9K much of it being housing (my area 1K is not enough for all areas!!!!)
Not rich at all. Making it and being able to pay bills and not have credit card debt is about all $200k gets my family
@@kimberleyhunter6815so no retirement investment, no health care or anything? Property taxes?
Rachel saying "Tesla's mid range" am I'm over here with Honda and Toyota thinking I'm fancy😂 well then😂😂😂
Look forward to this each week. Love it!
Oh my word this was one of the funniest episodes. I spit my drink out I laughed so hard. You two are gelling amazingly well.
Everyone needs a friend like George!
I LOVE watching this podcast. You all are so funny together.
Teslas, beemers, and Mercedes are all in the same class to me(upper-middle level) not like a corvette, Range Rover, audi. All of these makers have really high class options but Tesla is not “economical” 😂
Agreed!
Model 3 is economical.
@@jeremyorwhateverexactly. After tax credits, it's the same as a moderately optioned Camry
O M G this episode had me loling at work. LOVE this show so much!!
I love listening to both of you guys! Feels like I'm hanging out with some friends who are just looking out for me❤
18:58 I was dying at the Bridesmaids reference 😂 well done Rachel 👏🏻
This show is great
I seriously wish I was there with you guys. You both are hilarious… and informative! I literally just screenshot the ingredients. Making it this weekend! 🍋
If you feel poor on 500k a year, you must have 15 kids or something
"I wanna meet these people."
I live in the Bay Area (CA), and know someone that makes well over $300K/year, and claims that she doesn't understand how people can survive on less than $100K/year. I barely make $125K, and little does she realized the "average" income is more like $50K-$75K in the Bay, and $30K nationally. Sufficed to say, it takes everything in me not to punch her whenever she talks about money.
Trust me, you DON'T want to meet these people. They can be insufferable at times.
I’m in San Francisco. Pre-Covid, It’s pretty tight at 6 figures, when you factor in rent and “insufferable” student loans. That was more than 1 paycheck. I’d get a $10k bonus, after taxes, it’s around $5500. I throw it all into my student loans and it barely makes a dent….
$300k is a lot, but they’re not totally wrong that it’s hard. Doable. But hard to feel like you have good footing.
Do you have kids? Do you have loans or mortgage? You might be younger and have less liabilities.
@@DonutAgain me and who i'm speaking of are both single gals, and she said this before she bought her house. I have my own mortgage, longer than her, and was only able to afford to buy bc i got help from my parents. Prior to that she had no outstanding loans or debt. What I'm trying to say is that some people just don't have any perspective and like to make outlandish statements and put their foot in their mouth. I understand living in the Bay Area is expensive, but to say people can't live on less than 100K greatly lacks perspective bc MANY do so.
She only said she doesn’t understand how others manage, and her comment is based on her own situation. By that comment alone, it doesn’t sound like she’s insufferable as you put it.
@@AaBbCcDdEeF well... you don't hear her tone and how she talks about other people and money in general, so perhaps your judgement of the situation isn't as informed as mine.
I’m 25 & make 130K and I don’t feel poor. I grew up with no money as my parents are from another country. I moved out at 18 and realized I wouldn’t be able to retire on $17.83 per hour, I went back to school and worked while going to school. I worked my way up. Got through school debt free and paid off a modest car (2018 Honda fit) in 2.5 years. My goal this year is to save $50K, and max out my 401k.
I live in a high cost of living area however I live in a nice reasonable apartment and have a dog.
My boyfriend is 29 and has a masters degree in engineering. He makes 175k and he also has no car payment or student loans. He saves most of his money.
Humblebrag!
Helped out a buddy of mine about 15 years ago he bought an older BMW in for maintenance. While waiting for him I looked at the prices of newer BMW and one of the Cars I remember was 300k. It was insane to me.
As my salary grows, I realize being a responsible human comes at a cost. The basics and secondaries aren’t really options anymore. So I can see that struggle, BUT along with that you better be stashing hay while that sun shines.
Good episode. No sane person making 175K thinks they're poor. People are frustrated with the value of a dollar compared to 5 years ago. It's still doable, but it's increasingly difficult to live like we used to on what might be considered a "normal" income. That doesn't mean you're poor, it just means it's harder, and people vent on surveys. Thanks for the show.
I make 50k less than that and i definitely think i am poor.
Edit: for context, im a single guy living with a roommate.
Our household income is around there and I say we’re poor all the time. You know why? Because we are lol. We have a lot of debt so in our case, income doesn’t matter. We’re poor until we’re not.
Our household income take home is around $80,000/year and we do not feel poor whatsoever. No kids, no crazy expenses, paid for vehicles. Some debt that we have left to pay off but not exceeding $10,000 worth. We are 25 and 27 years old.
Edit to add: We had significant debt up until this year. I truly pray shows like this can give hope to those who haven’t created healthy money habits yet or need guidance. It is possible to win with money even in times such as this!
Pro tips: live in neighborhood that is median income is half your income. You will not be tempted to keep up with anyone except yourself or your peers that most likely make 1/2 your income.
i think you underestimate the spending habits of some people. I know people that make well into 6 figures and have zero savings because they like taking vacations 8 times a year. it's not about what you make it's about what you spend.
Y’all I am dying!! Hilarious! Listened on my podcast app and had to watch it on video!! Too funny!! Love y’all two!!
My dad is the best example of this. He made six figures for years but he was always complained about not having enough money for having a decent home and schooling. Why? He always bought broken down cars, houses and land every month like a hoarder. I make six figures now, and I’m 100% for living below my means.
Very fun show today thankyouall 😊
Rachel’s kourtney impression was everything i needed today
Great show! Makes a person think about the topic at hand - especially the Guilty as Charged question. I am proud my husband and I are debt free, including our house, and love to discuss it. However, I also do the same thing you guys do and shy away from it unless friends ask me about our finances. They have to be really close friends to discuss it though. Lindsey - the mocktail made me very thirsty and wished I was there LOL
It’s all perspective. If you are the lowest earner in your friend group, even if you’re making high six figures, you will feel poorer than an Average Joe surrounded by other middle income friends and family.
At that point you need different friends.....😊
Exactly. I live in Rochester hills Michigan and have a 1400sq ft home. Paid 195,000 @ 2.7% interest. One Jeep Cherokee 2019 @ 0.7% interest. Making about $210,000 a year. I feel extremely poor in my area I have zero CC debt.
@@Pkilla80Your problem is not net worth then; it is self worth.
Binge watching, love this podcast!
You guys are so fun. Thanks for sharing your friendship.😊
Dave woke me up in 2020 when my practice was shut down and my bills kept rolling in. Went through the baby steps in 18 months and now live debt free investing 1/2 of my income on my way to FI in 2029!
You can “feel” broke at any income. It’s a natural consequence of not controlling your finances. Of course this is why gaining that control is primarily psychological not mathematical
This episode was the best ever!! Laughed so much.
Great show!
George, it may be that someplace is scamming, but not all. My local Jiffy Lube has earned a good reputation in my book; they show me very clean filters quite frequently, and they discouraged me from getting the brakes done when they didn’t need to be. That said, I’m highly sensitive to pollen in the spring, and I used to be able to drive around early in the spring, with my car, set indoor air only, and I would be OK. After a month or two, it stopped working. I went to change the air filter for the cabin of the car, and it helped. That said, I had on the car for over a year, and who knows when it was changed before that?
Rachel is loaded and that is okay. I consider her fairly modest considering that she has enough money to pay cash for a house and a Tesla. I’m sure her family could have fancier stuff if they financed them. I think people can be modest at different income levels.
I love the stoic guy sitting in the background, doesn't move the whole video 😂
Great show gang
I feel like Rachel needed some alcohol in her drink. She was wound up in the guilty as charges segment. 😂😂
I love you guys and this episode was great, despite the existential crisis you gave Rachel! lol
Me at 18:00 wondering if that’s ACTUALLY a mocktail 😅😅😅
I think I’m with Rachel! I definitely think Tesla is an above average vehicle but Mercedes and BMW feel more luxury to me. I appreciate the content and the laughs ya’ll 🤗
Heck, even the Honda Accord is nicer than a Tesla. When you buy a Tesla, you're paying for the technology and the brand, not the build quality. But I guess the branding works, because some of those people thought Tesla is above BMW and Mercedes when it comes to luxury LOL
Teachers are just trying to get through the day! 🤣🤣🤣🤣 so true! I just noticed my car is the worst looking in our parking lot. It will stay that way until I reach other goals.
Lard 😂 oh George, love you brother. This was a fun show y’all! That drink 🍹 sounds so good! Refreshing. Gotta try 👍
LOL😂 ohhh I hope I never forget that!!! “It’s not an ish-you it’s an ish-me”!!😂😂
The deep laugh in the background is the best laugh.
I love that the guy in the green shirt and jeans is asleep for more than half of this episode. He's next to girl in flowered shirt and red shoes.
Cant wait to try the mocktail
Omg! Best episode ever!! 😂 “help me, I’m poor!”
I think people need to create a sense of forced scarcity. I have my paycheck automatically split into my savings account 401(k) and my checking account and I pretend that my savings and 401(k) doesn’t exist
You don't have kids
@@Pkilla80how did you understand it?
Yes paying yourself first!
Love Rachel and George and love Lindsay’s laugh.
I'm in that demographic but, with the added income, I'm for the first time responsibly saving for retirement, emergencies, house maintenance, auto maintenance, recurring expenses, etc. I also live in a very high cost of living and my mortgage is expensive (NOVA). I am FULLY aware of my privilege and am not complaining. However, I think what makes me feel 'poor' is watching my peers live extravagant lifestyles while making as much or less than I do. I don't know how people do it.
They do it with debt, lots and lots of debt. Or they're trust fund babies
I live in a small town that’s more about the pickup truck so big money to me is like a fully loaded Chevy truck with all the bells and whistles, a Tesla to me is more just nerdy than luxury lol. But luxury to me is for sure a Range Rover. Or a brand new top of the line suv.
Lyndsay needs to come out with all the drinks they’ve done in the last year so my wife and I can have the mocktails. Please
Count your blessings, name them one by one 🎶 this song helped me
@ 14:43 lol idk what you're talking about, I worked at a dealership for 9 years and at least for us, YES THAT IS YOUR FILTER and sometimes it was just kinda dirty and sometimes it had actual mice nests in it along with twigs, dirt, leaves, etc...
George clocking J Lo’s tea is sending me!!!😂
Sometimes I got to remind myself that he’s a Christian living in the south, where the tea is probably spiked to begin with and it’s cold enough to give you freezer burn!😂
It's all about needs vs wants.
I'm surprised George didn't get hit with a toilet paper expense 😂
Loved this episode! In my opinion I put the Tesla up there with Mercedes, Lexus range of luxury cars. In all honesty I didn’t know they had any option under $60k but I never researched it.
$175k, pre-tax, for a married couple, isn’t enough to afford (with putting 20% down on a 15-year fixed rate mortgage) a $300k home, having a 2% annual property tax, $2000 annual homeowners insurance cost, and $100/month HOA fee by Ramsey’s own standards (i.e., a $3k total monthly housing payment on less than $12k in after-tax monthly income, so more than a 25% housing cost). Meanwhile, the median house price in the US today is over $410k. 😅
So, call that what you want, and tout that it’s a high relative/percentile income if you want (admittedly, it is), but it’s hard to call that income “doing well” if you didn’t already get into that median-priced house for half the price and at half or 1/3 of today’s mortgage rate.
A car that can drive itself is a luxury car. Sorry Rachel! Lol
ITS FINALLY THURSDAY!!!!
That’s great will money be awesome with great habits. Totally agree.
Wise words ; money isn’t everything , but it’s great if you have a lot of it
By far one of the funniest episodes 😂😂😂
Auto air filters are about $10 from Amazon or at an auto supply store.
J Lo has written many of her songs!
LOVE YOU GUYS!
You guys crack me up!
Depending on the city, depending on if you are married and have kids and other liabilities. Making about the same before taxes, I pay about 5k each month for mortgage and HOA and utilities. My car is 10 years old. Not poor but don't have much to save either.
Drive a 2017 Tacoma. Bought new, paid off in 30 months. The derision I got for buying a "taco" instead of a Colorado that cost 15k more was ridiculous. It does what I need it to do. Carry my outdoor gear and get me down the road. I'm keeping this truck until the wheels fall off.
I bought a 2020 Tacoma used in 2021 I’ve never had anyone ask me why I didn’t buy a Colorado 😅
@Playingwithproxies I live in a GM town. The employer loyalty is still pretty high even after all the BS they've done with the line workers. My sis-in-law had 35 yrs in with them, she is the most vocal.
For two people who have an awesome handle on money and budgeting and being a good steward with money, I'm blown away by both have absolutely NO understanding how EVs are MORE expensive than a gasoline car, AND are far worse for the economy and the environment than ANY internal combustion engine vehicle. They are FAR more expensive to buy and maintain. Those EVs are UNDERWRITTEN by taxpayer dollars to the tune of multiple thousands, even tens of thousands of dollars. If consumers had to pay the ACTUAL cost, and the government wasn't punishing internal combustion engine cars and the oil industry in general, the TRUTH would be far more evident. Y'all need to do some true research into it.
You two are hilarious 😂
I LOVE my 2019 luxury Odyssey 🤣
All the cars you mentioned are on the same level Rachel!!😅
I would never say a Tesla is economical because here in Maine electricity is very expensive. You would not be saving money unless you work someplace L.L. Bean which has Tesla charging stations.
I'd like to know if when you say teachers are among networth millionaires that is strictly done on one teacher salary or if there is another income they are working with to become networth millionaires.
Well I say that would depend but I can say in my family the teacher made $40K while the other person made $160K so yeah the teacher would have been very poor while together that is 2 million in 10 years!
I agree with Rachel! Regarding the Tesla
You can actually find older base tesla's (16-17) used for around 20-25k. Not a bad deal if you live in an area that has a lot of chargers.
Most people charge to 100% nightly in their garage.
Battery degradation is much worse than engine wear on a 7-8 year old car. And a new battery would cost more to replace 😅
Depends on the models. S is definitely nicer than most BMWs in my mind.
It's Sonata hoopdy 😂
Those two make my day 😂
We make over $200k in salary but never see half of that due to tax and retirement savings plus health care ect. So $100k is what you might take home. Thats not a lot to raise a family on. We have one 2019 jeep Cherokee finanaced @ 0.7% and our 1400sq ft home mortgage at 2.7% interest in Michigan and are surviving but definitely dont feel well off. Btw our lot is barely bigger that the house and we bought in 2014 and the home appreciation is about 65% Zero CC debt
To answer the “question”. I haven’t acted below to fit in, but we were the first in our church group to pay off our house. But ours was older and small than others, and there were 2 engineers, doctor, lawyer, banker, and two school principals. Ironic question was , “what did you do with your stimulus checks”? I was retired, and the capital gains from my investments put us over the threshold for a check. We omitted some facts and said we didn’t get one because of an inheritance. It was only $112,000, and we were already multi millionaires. That is why we didn’t get one.
The point of Tesla is to create luxury electric vehicles. The 3 and Y are a more attainable class of vehicle. So it may depend on what type of Tesla you have. Similar to Mercedes has different classes of vehicles
I totally class Tesla as a luxury car, right up there in the same rank as Mercedes, Audi, BMW.
I too am retired (76 years young) and bring in 32,000 after taxes. I don't have any debt and am able to live comfortably as long as I don't travel and am relatively careful.
WAS a $30,000 car. You can’t find a Tesla new for even close to that now, and even used ones are not much below that.
With tax credit it is around 33k
Yeah, some Tesla drivers can be too much. They forget the higher cost car is primarily tech not primarily luxury. They are not a Range Rover nor higher class Mercedes/Lexus/BMW/Infiniti/Rolls Royce/Bugatti/Porsche. They are great cars yet they are tech cars.
I think when he hit the first emergency, the ref should have announced he has a $1000 emergency fund and she doesn’t, so from then forward he paid emergencies but could pass on non emergencies. 😁
You can raise a family for $30,000 a year. These people are ridiculous.
My rent without utilities is $40k a year. And that’s a great deal for where we live.
LOL Rachel's reaction is hilarious... I agree with her producer, Tesla definitely feels the same as a BMW or Mercedes in my mind too. You can get an older model that's "economical", but the brand overall does not have that feel at all! Expensive to buy and expensive to replace when the batteries eventually die... definitely mid-tier luxury in my mind.
Median rent here in NYC is 4400 which comes out to 52800 a year. You need 4 times the rent to qualify on your own so that would be 211200 so yeah if you want your own 1 bedroom apartment in NYC you better make a lot of money😁.
😮
Um. That is not how mortgages work! It's based on property value and debt to income ration for qualification, what it could be rented for is not a factor.
@@tracyfleck3793 This was an example of what you have to earn if you want to rent an apartment. I was not talking about a mortgage. I made around 300k as a software dev when I lived in NYC which is a really good salary I was not "poor" or anything even close , but even with that income it is hard to afford something with 4 bedrooms. I want to get married and have 2 kids that have their own rooms and a homeoffice for myself. Thats why I moved to a much cheaper area out of state and took a pay cut to around 220k and affording a 4-5 bedroom house in the future in my new area is not a problem. What I wanted to say with my initial statement was that you have to decide if it is worth it for you to live in an expensive area. Living in my 20s in NYC in a 2 bedroom with a roommate was great but I do not want that in my 30s-40s. I hope I did not go to much off topic with this answer have a great day😁
He is not talking about a mortgage. Not sure where you got that. He is talking about rent. You need 3-4x the rent cost to qualify to rent an apartment in the city. @@tracyfleck3793
NYC (I live here too) is also mostly co-ops which often have stricter rules than the banks which is frustrating in itself. More hoops to jump.
🤣 This is wonderful!
Serious question: How much do you pay for electricity to run an electric car compared to filling up with gas? I have no clue and would be interested to know. Electricity is expensive, so I don't understand how electric cars are "economical."
In our area of Tennessee, electricity is 9-10 cents per kWh. My car battery capacity is about 50 kW. To get my car from 0% charge to 100%, if amounts to $4.50 or $5 to drive 160ish miles.
@@GeorgeKamel If your driving across the country or even in small towns often your all electric car is likely to be more of a problem. No one I know who drives for their job owns an all electric car!!!! Thanks for the response btw.
YESSSSSSSSSSSSSSSSSSSSSSSSSSSSSS THANK YOU SO MUCH.
I think people mix up necessities and wants. If someone thinks a detached house is a necessity, they will feel poor in LA because they may never be able to afford it. But often an apartment is enough. I personally live in an apartment, and I have quite a few friends who are raising 2+ kids in 2-3 bedroom apartments.