Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Daily Mail)   Can't get by on a million dollars a year? Rich people problems   (dailymail.co.uk ) divider line
    More: Fail  
•       •       •

12823 clicks; posted to Main » on 13 Jul 2014 at 4:17 AM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



118 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | 3 | » | Newest | Show all

 
2014-07-13 08:01:53 AM  

MyRandomName: Based on your spending presented, you would be in jail for not paying taxes.


Also this. Total Income taxes for a NYC resident on a million in income would likely be over $400k.
 
2014-07-13 08:03:04 AM  

Silverstaff: Now, if I had a million dollars, not per year, just ever, that could be life-changing.


Does working for 50 years at $20,000 a year count?
 
2014-07-13 08:03:49 AM  

Active introvert: Why do people have children just to hand them off to a nanny? Seems like an un needed expense is you aren't going to raise and love them yourself. Don't have kids and get a better apartment.


She works. Should she quit her job and go on public assistance to support her and her child?
 
2014-07-13 08:11:40 AM  
It ain't pretty, but I've survived in NYC on less than 30K/year for the last few years. Sounds like she's bad with money.
 
2014-07-13 08:15:11 AM  
The kid is 12 years old, not five. There is no need for constant supervision anymore, so why does she need a nanny?
 
2014-07-13 08:15:30 AM  
AWWW...Bless her heart.
 
2014-07-13 08:18:07 AM  
I could easily live on a million a year but then I don't live in NYC or have a kid. Pretty sure she could cut some costs if she wanted to though.
 
2014-07-13 08:27:22 AM  
Will this article destroy her street cred with the A-listers?
 
2014-07-13 08:31:28 AM  
A million dollars isn't all that much after I spend it
 
2014-07-13 08:33:15 AM  
Poor woman, the obvious answer is no taxes on people that make over a million dollars because I can't see them suffer like that anymore!
 
2014-07-13 08:40:07 AM  

Bathia_Mapes: I notice she supports her mother, which is nice, but I'm wondering why she doesn't have her mother take care of her kid instead of hiring a nanny.

Private school is nice too, but if you're having that much of a problem with your finances maybe you should reconsider sending your daughter to a public school instead.

Maybe it's just me, but I'm having a hard time being sympathetic.


Agreed, I'm playing the world's tiniest violin for her right now.
 
2014-07-13 08:46:36 AM  

8 inches: Cue the "it's not FAIR someone makes a lot of money" crowd.

Don't hate the player, hate the game that encourages dependency. A game that would rather see equality than exceptialism. Hate the hand you hold, because it holds you down.


People who regurgitate stock cliches are really annoying
 
2014-07-13 08:47:32 AM  
The classically stupid argument of: after expenses, I don't have much money.  A million dollars in income annually is still a lot of money, even in New York.  The median household income in New York City is a touch over 50k.  For Manhattan it's around 65K.  If she can't make ends meet making 15-20 times what the average person she can see  from her penthouse walking on the street below suite makes, she's a farking moron.

This isn't about her "success" and/or punishing or applauding it.  It's about how farking out-of-touch saying $1 Million isn't a lot of money IS.  Not sounds, IS.  She's comparing herself to people who make more money and disregarding the overwhelming majority who make less.
 
2014-07-13 08:48:19 AM  
she can see  from her penthouse walking on the street below suite makes, she's a farking moron.

FTFM
 
2014-07-13 08:50:16 AM  
If it's it in Daily BRAINFAIL, we can be sure of the following:

1. It's all totally true, accurate and legit
2. It's OK, in fact, a duty, to seethe with hatred at the stupidhead stupids in the totally legit story
3. We can make sweeping generalizations about the world based upon it
 
2014-07-13 08:53:12 AM  

dbirchall: Silverstaff: Now, if I had a million dollars, not per year, just ever, that could be life-changing.

Does working for 50 years at $20,000 a year count?


No.  Not at all.

If you'd bothered to even read the post I made, I was pointing out how even a few hundred thousand dollars, at once, can go a long way to creating long-term financial stability for a middle class household by paying off at once things that eat up most of your income like buying a house to escape from the pit of rent, buying a new, durable car to escape from the payments on a beat-up car, paying off credit cards and student loans.

It's not "never need to work again" money, but it basically means that you're under a lot less financial stress.
 
2014-07-13 08:59:50 AM  
I'm just past 60 now. If I had just 250K tax free, I could retire Now and live the next/last 10 yrs of my life comfortably enough. Dad died at 73, Granddad died at 72 so the Clock is staring me in the face now. I'm gonna be sorry for some Rich Broad? I don't think so.
 
2014-07-13 09:02:37 AM  

Thunderboy: It ain't pretty, but I've survived in NYC on less than 30K/year for the last few years.


wpcontent.answcdn.com

 
2014-07-13 09:04:10 AM  
Sounds like she needs to read some Mr. Money Moustache.  He's over the top, but his ideas taken to a more reasonable level are great for everyone to think about.

Note: Lot's of cursewords on the site- not sure if that's an issue for any of you at work on a Sunday morning.
http://www.mrmoneymustache.com/
 
2014-07-13 09:08:17 AM  

Bathia_Mapes: I notice she supports her mother, which is nice, but I'm wondering why she doesn't have her mother take care of her kid instead of hiring a nanny.


I too support my mother, from a distance.  It's one thing to love and support your mom.  It's another to have her around, every day.
 
2014-07-13 09:17:13 AM  
Her income is based somewhat on her having a lifestyle supported by conspicuous spending.  Thats probably only 15 to 20 thousand annually though.  The house in the suburbs needs to go, or the apartment in the city pick one.   For her job I'd personally keep the apartment even though it isn't earning equity.  Either that or pay off the house using part of the 300,000 extra she makes per year. (there is another option though which is rent the apartment through her pr firm making the house her official residence so the interest is tax deductible, if she hasn't already refinanced do it now so that the interest is moderately low.)  The pr firm can claim having a manager with the ability to host high level get together in the city is a business expense.  I don't have her scale of money, and have worked in finance so thought I could manage the money I was making but with vehicle and who owned what directly with a business I partially own I was able to save a significant amount in taxes and insurance by putting a pick-up truck in the business's name  as well as a small building, Both of them were used more for business anyway but do have some personal use as well, I need to be a little careful to keep them mainly business functions  (its really not hard).  Deductingmileage used for work for my personalvehicle and making some of my pay a bonus helped a bit. Was just interesting how knowing tax stuff and figuring out that somethings when purchased by businesses get better rates can save a lot of money.  I bet she could save a good bit of money by doing the same thing.
 
2014-07-13 09:22:10 AM  

Klopfer: The kid is 12 years old, not five. There is no need for constant supervision anymore, so why does she need a nanny?


If she needs to go out of town on a business trip. A 12 year old cannot be left on her own for 2-3 days. Nor will most babysitters tolerate being called in for variable hours. If you want someone trustworthy and caring to be available at a moment's notice, 24/7/365, $70K/year is a barely-fair wage for that in NYC, once you include health insurance and payroll taxes.
 
2014-07-13 09:22:42 AM  
Pitchfork and torch brigade aside, is anyone else extremely annoyed by expense budgets expressed in a slapdash mixture of yearly and monthly terms?

"Where does my money go? Oh, well there's $40,000 to the private school, and $8,000 for apartment rent, and $350,000 for taxes, and $650 for parking."

Put it all in yearly terms and give us your annual income, or else put it all in monthly terms and give us your monthly income. Jeez!
 
2014-07-13 09:25:23 AM  
I wish my mortgage was only $8000 a year.
 
2014-07-13 09:32:25 AM  

ManInABlueShirt: I have a little bit of sympathy for her - she's made a lot of choices that mean that she's expected to have a certain lifestyle and, if she didn't have that lifestyle, she wouldn't be as professionally successful.

As a result she has a lot of expense that she can't claim off her taxes (because they're lifestyle) but she can't take a step back and decide that no, she wants to bank it all instead.

However the question is - is she better off doing what she's doing now, than if she were somewhere else, earning $200k in Texas for instance?  I suspect the answer is still yes, so that's where my sympathy stops.


^^THIS.^^

Though it sounds like she isn't really asking for sympathy, just pointing out cost of living differences.

I understand that doubling my income by moving to a big city wouldn't necessarily improve my quality of life, but there are folks who fantasize about getting that city pay and using it out in the sticks, as if commuting, dressing for the job, and required schmoozing were all free.
 
2014-07-13 09:42:29 AM  

Tunney: I wish my mortgage was only $8000 a year.


I have 6 houses that have mortgages and it don't even come close to $8000 a year.
 
2014-07-13 09:44:35 AM  
home.comcast.net
 
2014-07-13 09:48:14 AM  
Oh that poor thing! There there now, it will be alright little millionaire living in gross excess. It will be alright. Just put these two barrels in your mouth and let Mr. Twelve give you a nice well earned double kiss. Everything will be fine after that, it will all go away and your big million dollars will be big to you again. Just push on that little million dollar blessing trigger there you poor thing and all your suffering goes away. All your bills and pain and missed caviar all go away forever. You will have nothing but peace and content with a powerful million dollars. Just wrap your mouth around those barrels and give the trigger a push.

End of sympathy for millionaire irresponsible fat coont.
 
2014-07-13 10:12:58 AM  

Bathia_Mapes: I notice she supports her mother, which is nice, but I'm wondering why she doesn't have her mother take care of her kid instead of hiring a nanny.

Private school is nice too, but if you're having that much of a problem with your finances maybe you should reconsider sending your daughter to a public school instead.

Maybe it's just me, but I'm having a hard time being sympathetic.


But if her kid goes to public school, there may be minorities in the classroom, I mean the schools won't be as good.
 
2014-07-13 10:16:44 AM  
Really? Can't make it by on a mil a year? If i made 10% of that I'd live like a king with a shiatload left over. Guess rich folk think that just cuz you got money you need to spend it. Never really understood that. Even the times when I have plenty of extra cash to blow i don't.
 
2014-07-13 10:18:46 AM  

Bathia_Mapes: I notice she supports her mother, which is nice, but I'm wondering why she doesn't have her mother take care of her kid instead of hiring a nanny.

Private school is nice too, but if you're having that much of a problem with your finances maybe you should reconsider sending your daughter to a public school instead.

Maybe it's just me, but I'm having a hard time being sympathetic.


Can't apply logic to stupid, kid
Sympathetic, I am not
 
2014-07-13 10:23:18 AM  
doyner: So if a million a year is barely enough to get by, why all the acrimony about raising minimum wage?

Because the people who can't get by on a million dollars a year think that minimum wage earners should be able to get by on a dollar a year.

Now, if I had a million dollars, not per year, just ever, that could be life-changing.

Take $150,000 and buy a house.  Around here, that's enough for a pretty dang decent family home.  4 bedroo

Silverstaff: doyner: So if a million a year is barely enough to get by, why all the acrimony about raising minimum wage?

Because the people who can't get by on a million dollars a year think that minimum wage earners should be able to get by on a dollar a year.

Now, if I had a million dollars, not per year, just ever, that could be life-changing.

Take $150,000 and buy a house.  Around here, that's enough for a pretty dang decent family home.  4 bedroom, 2 bathroom, 2 car garage, decent little yard, in a good suburb.

Pay off all my debts.  Car loans on mine and my wife's cars.  Pay off credit cards, pay off student loans, some money I borrowed from a friend years ago.  That's maybe $30,000 tops between me and my wife.

Take $20,000 and set it aside, cash (or a mixture of cash and savings accounts), as an emergency/rainy day fund.

Take $10,000 and buy a lot of "I always wanted that/to do that" items.  First new computer in 5 years.  Some guns I always wanted.  Go on a Hawaiian vacation with my family.  Take a big road trip across the country and see Washington and New York.

Take $50,000 and buy a couple of new cars for me and my wife.  Nothing ridiculous, just newer versions of what we've already got.  A new Prius for her, a new Corolla for me.  With everything.  We've always had used cars, just brand new ones will mean a lot.

It's about 24 years until I can draw my state employee pension, and 25 years until I can draw my military pension.  Taking $240,000 and using it until I get my pension, that's enough to have about an extra $10,000 a year until I retire.  That's like an instant 25% pay raise.

Take $50,000 and my wife can finally go to college and not have to worry about doing it on student loans.

Take $50,000 and invest it as a college fund for our son.

Take $400,000 and invest it, and invest it well.  Talk to some professional advisers, get lots of advice.  No questionable advice, nothing dodgy.  Make some steady, long term investments in stocks, bonds, mutual fund ...



Assuming you'd continue living a normal middle-class lifestyle that's a great plan.  Making more money almost always includes some lifestyle creep.  My wife and I are just over 6 figures and 1 million would barely make a dent in our long term financial calculus.  I live in a high cost-of-living area, so that skews my numbers significantly compared to you.  Certainly not "fark you" money.  You're lucky you live in a lower cost area and would opt to stay there.

We'd sell our house to have an extra 50-70k, and buy something nice in the $450-500k range, which is a nice family house in a good public school district where we live.  Following that, buy my wife a new crossover, and then bank the rest in savings, moving the max over to a tax shielded account annually..

Yes it would give me an extra $2k a month because I'm no longer paying my mortgage, but I'd still be working the same job making the same commute taking the same amount of time off a year.  virtually the only luxury I would consider is joining one of those boat-share clubs, because we both love being on the water and it turns out it's cheaper than buying and maintaining one.

Granted, we would have the security of knowing that unless the market takes a giant shiat on us, with a half million invested by 30 we'll be sitting on a nice chunk of change come retirement age, so there is that.  Add that to my military retirement and I might be able to leave the work force by 50.
 
2014-07-13 10:24:06 AM  
Monkeyfark Ridiculous:


Yeah, but to be fair, I don't think she's actually saying that she has a hard time getting by. She's pointing out that $1M/yr isn't the fark-you money people think it is.

In NYC, no it isn't. But so farking what? Why is this womans financial issues worthy of a newspaper article.
Oh.....MailOnline, and 'fashion', and NYC. That's why.

$1mil/year IS "fark you money" except in very, very limited places.
$1mil once is "fark you money" in most places.
 
2014-07-13 10:28:22 AM  
Well, she lives in the most expensive city in America. Hell, move to Detroit! With a million a year, she'll be making more than the entire city and could own at least half of it.
 
2014-07-13 10:31:20 AM  
People who actually work for their paycheck, even a million dollar paycheck, have never been the problem.  She works for her money, and it's very easy for the expenses associated to running an independent business (as she does) or family household expenses, or taxes to gobble up the lion's share of ones salary.  It's not that a million dollars doesn't go far, it's just that it doesn't go far for her business & home situation.

The problem is really people who inherit their wealth, and immediately squirrel it away in a system where it does not get taxed, and run public companies that consistently underpay their workers, etc etc.  This is where the damage to the economy comes from.
 
2014-07-13 10:37:38 AM  
One Million $$ would last me for the rest of my life.

Unless I stub a toe on a doorframe, break the toe and have to go the Emergency room. Then I'll be bankrupted, they'll take our ranch and because of data-mining hospital records the NSA will track my bowel movements for the rest of my life ..
 
2014-07-13 10:38:25 AM  
A quick Google calculator says that I'd have to make a little less than 58,000 in Manhattan to have a comparable income and standard of living as I do in Indiana at 27,000.

I'm not the brightest bulb in the box, so let's say that I need 75,000 just because things ARE more expensive. And let's assume a kid is just as expensive (and bad at hypothetical math) as I am. Another 75K.
I'm still not seeing the million dollars being cost prohibitive.

She's got a farking spending problem.
 
2014-07-13 10:51:16 AM  

E5bie: ManInABlueShirt: I have a little bit of sympathy for her - she's made a lot of choices that mean that she's expected to have a certain lifestyle and, if she didn't have that lifestyle, she wouldn't be as professionally successful.

As a result she has a lot of expense that she can't claim off her taxes (because they're lifestyle) but she can't take a step back and decide that no, she wants to bank it all instead.

However the question is - is she better off doing what she's doing now, than if she were somewhere else, earning $200k in Texas for instance?  I suspect the answer is still yes, so that's where my sympathy stops.

^^THIS.^^

Though it sounds like she isn't really asking for sympathy, just pointing out cost of living differences.

I understand that doubling my income by moving to a big city wouldn't necessarily improve my quality of life, but there are folks who fantasize about getting that city pay and using it out in the sticks, as if commuting, dressing for the job, and required schmoozing were all free.




Property taxes are much higher in Texas.
 
2014-07-13 10:57:39 AM  
A nanny? FFS. Be a farking MOM.
 
2014-07-13 11:13:01 AM  

Silverstaff: dbirchall: Silverstaff: Now, if I had a million dollars, not per year, just ever, that could be life-changing.

Does working for 50 years at $20,000 a year count?

No.  Not at all.

If you'd bothered to even read the post I made, I was pointing out how even a few hundred thousand dollars, at once, can go a long way to creating long-term financial stability for a middle class household by paying off at once things that eat up most of your income like buying a house to escape from the pit of rent, buying a new, durable car to escape from the payments on a beat-up car, paying off credit cards and student loans.

It's not "never need to work again" money, but it basically means that you're under a lot less financial stress.


Silverstaff, if you ever do inherit a million dollars, the first thing you need to buy is a sense of humor.
 
2014-07-13 11:23:43 AM  

E5bie: Klopfer: The kid is 12 years old, not five. There is no need for constant supervision anymore, so why does she need a nanny?

If she needs to go out of town on a business trip. A 12 year old cannot be left on her own for 2-3 days. Nor will most babysitters tolerate being called in for variable hours. If you want someone trustworthy and caring to be available at a moment's notice, 24/7/365, $70K/year is a barely-fair wage for that in NYC, once you include health insurance and payroll taxes.


Or you could call her grandma instead of paying for a nanny that is probably only really needed for three days per month.
 
2014-07-13 11:28:59 AM  

Fark_Guy_Rob: most people will spend whatever they make. Most people will also perpetually associate with people who earn similar wages, skewing their perception of 'normal'. [...] It's all relative. Very few people are ever content to live beneath their means.


This is true, and it seems really stupid to me. I have always lived below my means and want to continue to do that so I can eventually pay off my mortgage and then only work part-time or not work at all. Then again, in my last year in college, the dot-com bubble burst. I heard many tales of people who had no or limited savings and then got fired and had trouble finding a new job on alt.tech-support.recovery. This shaped my thinking about the future. When I got a job, I got an apartment that was cheaper than what I could afford and continued living like a starving student for a while.

My friends and cow-orkers aren't going to look down their noses at me because my clothes aren't up to the minute and my car's 11 years old. People in TV/fashion/sales/marketing and similar fields have to spend a lot more on looking fashionable, though, because they're judged on how they look. Living in NYC also presents its own odd set of problems.

(Income £100 , expenses £99.75 = happiness,
Income £100 , expenses £100.25 = misery)
 
2014-07-13 11:45:43 AM  
Single mom problems
 
2014-07-13 11:53:35 AM  

trappedspirit: Single mom problems


I think it has more to it than just the fact that she is nothing more than a semen dumpster.
 
2014-07-13 11:56:22 AM  

Billy Bathsalt: Saving up for a dental check-up.  Winning.


I laughed heartily at this. /Been that damn poor
 
2014-07-13 11:59:14 AM  

Bathia_Mapes: I notice she supports her mother, which is nice, but I'm wondering why she doesn't have her mother take care of her kid instead of hiring a nanny.


Mom may be unable to take care of a child, untrustworthy, or just too kook-a-loo.

Private school is nice too, but if you're having that much of a problem with your finances maybe you should reconsider sending your daughter to a public school instead.

I can't believe the number of otherwise fairly down-market parents I hear about who scrimp and pinch to send their kids to a private school.  Guess what, public schools produce lots of well-educated kids with great careers, and your kids are not going to be in some rich guy's rolodex in 20 years because he spent Grade 6 laughing at their $30 shoes.

Maybe it's just me, but I'm having a hard time being sympathetic.

Well of course you aren't and neither am I.  There are people existing literally within a few blocks of these farking whiners who started life with nothing, will die with nothing, and will never have even a fighting chance to change that.
 
2014-07-13 12:04:17 PM  

Klopfer: Or you could call her grandma instead of paying for a nanny that is probably only really needed for three days per month.


Grandma, who is probably sitting by the phone, waiting and waiting for it to ring.....I have no sympathy. She built a life, and made a lot of money, based on artifice and materialistic values, now she has to live up to them and it costs too much money! Boo hoo hoo.
 
GBB
2014-07-13 12:07:19 PM  
It is time Gotham is purged.
img3.wikia.nocookie.net
 
2014-07-13 12:53:20 PM  
Quantum level violin playing engaged.
 
2014-07-13 12:56:16 PM  
FTFA:'$1 million isn't a lot of money anymore': Kelly Cutrone on how her annual salary 'barely covers' nannies, car parking and a New York apartment


Can we go ahead and start killing each other now? All of us? I would like to get that started, if its ok with everybody. I think we need to go ahead and make way for the cockroaches, so if somebody could start launching nukes and get this end of the world thing started I would appreciate it.

thx

/I wish I could drown the world in shiat.
 
Displayed 50 of 118 comments


Oldest | « | 1 | 2 | 3 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter






In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report