Quote:
Originally Posted by PeanutButter
He's mentioned he makes just under $90k salary, so I put that into an income tax calculator and it said his after tax income is about $72k or a 21% average tax rate. I don't know his exact net, just from what the calculator spit out.
RE: girlfriend making $50k, he's made a comment on her lower income, but what can one do. He's been with her for like six years. Hard to leave someone because they don't make enough money.
He also eats out, wears nice clothes, and gets a $60 haircut EVERY two weeks. So money goes quickly. With gas, insurance, and car payment that's easily $1,000 a month there. Oh he just spent $2k on the new Samsung S23 Ultra. Honestly, after seeing that phone, it makes me want it too.. Lol
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If you spend enough time in the personal finance blogosphere, the main assumption is that people who rent always invest the difference and come out ahead of the homeowner who sinks their money into a non productive asset over the long term. However, the reality is that the common renter is like your friend who lacks discipline and is making poor choices - (I.e. can't decide whether to marry his girlfriend after 6 years or move on and try to find someone else who has more potential and a higher ceiling).
With that said, even the most disciplined renter would have a hard time getting into the real estate market today. My point about discipline still holds however.