Scraping by on $150,000 a year

by **TommyJefferson** » Sat 16 Dec 2006, 10:56:43

Saw this on Fark.com:

Scraping by on $150,000 a year

http://money.cnn.com/2006/12/13/magazin ... /index.htm

"Yet, says Amy, "We live from one paycheck to the next, we're struggling to save and we never seem to have enough money to do anything fun."

Later in the article the cause of their desperate situation is revealed:

"A closer look at the Schuetts' finances reveals, for example, that a big chunk of their income is eaten up by two rental properties. Brian purchased them thinking they'd generate extra income, but he has yet to find tenants. Even when the properties are finally occupied, the area's softening rental market probably won't allow them to make enough to cover carrying costs."

God bless 'em for attempting to provide rentals to people who need a place to rent, but it seems to me a psychiatrist and pharma salesman probably don't have the skills needed to maintain rentals.

When things get tight, the weak and marginal are the first to perish.

C'est la vie.

Try harder next time.

by **lateStarter** » Sat 16 Dec 2006, 12:39:43

I suspect that we will be seeing lots more of these 'heart-breaking' types of stories in the near future. A lot of folks I know in the states are still living large simply because both husband and wife have decent incomes. One income pays the bills, the other pays for the fun. Even in the case where one income disappears (don't worry it is only temporary) they keep living like they had both incomes. Lots of people are in for a rude awakening in the very near future....

I'm currently engaged in a 'discussion' with a relative who wants me to come back to the states and get back to a 'normal' way of life. She also thinks that I need to start taking 'happy' pills...

by **Ludi** » Sat 16 Dec 2006, 13:38:45

Geez, that's a pretty low income for a psychiatrist and pharma salesperson...

But people in that field (the illness industry) tend to want to live as though truly wealthy. I know because my folks are in the illness industry and always over-extend. They just inherited a load of money, which I fully expect them to blow.

by **Kingcoal** » Sat 16 Dec 2006, 15:14:59

I've been through tough times in my life and what it taught me was you have to save for rainy days. There is nothing wrong with putting money in the bank. Does every cent have to be invested somewhere? People have lost sight of the fact that investments are money put at RISK.

These people are book smart and street dumb. Smart people live UNDER their means.

by **Tyler_JC** » Sat 16 Dec 2006, 17:10:10

$this->bbcode_second_pass_quote('Ludi', 'G')eez, that's a pretty low income for a psychiatrist and pharma salesperson...

But people in that field (the illness industry) tend to want to live as though truly wealthy. I know because my folks are in the illness industry and always over-extend. They just inherited a load of money, which I fully expect them to blow.

by **rogerhb** » Sat 16 Dec 2006, 22:46:12

If they were on $200K they would still be scraping by because they would have loaded themselves with more rentals.

by **HamRadioRocks** » Sun 17 Dec 2006, 02:12:46

$this->bbcode_second_pass_quote('Shannymara', 'T')hey can't get by on 150K in NEBRASKA???

by **Tyler_JC** » Sun 17 Dec 2006, 16:29:55

$this->bbcode_second_pass_quote('HamRadioRocks', '')$this->bbcode_second_pass_quote('Shannymara', 'T')hey can't get by on 150K in NEBRASKA???

by **rogerhb** » Sun 17 Dec 2006, 16:37:28

$this->bbcode_second_pass_quote('Tyler_JC', 'T')o me, Omaha means....

Scraping by on $150,000 a year

Scraping by on $150,000 a year

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