Not getting a good accountant, listing yourself as a corporation and getting those sweet deductions

>New York City

That explains it.

no he's not
he's the only one with any normalcy about him

Similar to packing for your 4th vacation of the year. If you bring 4 suitcases you will inevitably find a way to fill them all up and then your bellhop needs to make 2 trips making you late for tee off.

There's a joke about spending 164,000 dollars on candles here, but I can't figure it out. It's like that episode of the Office when he was spending money on 3 separate mail order Magician's sets.

Now that I've seen this I wish he was just spending $164,000 on candles.

>$5,000/year in gas living in New York City
>Spending $9,500/y on clothes and claiming 'no fancy threads' with a straight face
>Getting cucked into giving $18,000 back to a school that's already screwing you for 32k a year in loans
>Spending just under $500/week on food for four (I spend $60/week for 1 making shitty decisions and getting takeout constantly)
>Budgeting $10,000 for 'miscellaneous' and $7,300 for 'what's left' and claiming that you end up with nothing, not putting any of that into the interest on your loan debt

tl;dr "I'm making garbage decisions in every part of my financial life, why am I poor?"

What the fuck is property insurance?

Home/land insurance. Covers cost of replacement if your house burns down, or in some cases liability insurance if someone gets hurt on your property. Some people insure their personal property, like jewelry or artwork.

>Making an 18K donation to non-deductible charities
Oy Vey!

>Candles
>164,000 dollars
Wait. What?

>Childcare $42,000
They could hire a nanny, $12-$15p/h full-time which would be at or just under $30k
>Food $23,000
That's just retarded, over $500 per week
>Mortgage $60,000
Fair 'nuff
>Home maintenance $5,000
OK
>Property taxes $20,000
Suppose
>Property insurance $2,500
OK good
>Three vacations $18,000
That's also retarded
>Car payment $9,600
OK I guess? Although the Land Cruiser is probably a bit reason your gas bill is $5k
>Gas $5,000
Yeah that's dumb
>Car insurance $2,000
Reasonable
>Life insurance $2,500
Geeze... $3m?
>Clothes "nothing fancy" $9,500
Bullshit. Absolute bullshit.
>Children's "lessons" $12,000
"Shit we don't need but I'm rich so I do this kind of pretentious shit"
>Charity $18,000
(I "donate" to my college even though I'm still paying them for the service they provided)
>Student loans $32,000
Holy fuck are you kidding?
>Misc $10k
Fair enough

I see about $100k of bullshit spending. The rest is fair enough.

This thread reminds me of this show. Basically this guy shows up and yells at people for spending money on bullshit and ending up poor even though they make enough money. I think it was cancelled, but it's a great hate watch.

youtube.com/watch?v=7JcSKVx9e9k

When you talk about Buffet being normal / not normal...

He's just an old guy that grew up having nothing! Here in Germany old people that lives during the 2nd World War and the time after know how it feels to have nothing. They have money now and children / grandchildren that can support them with money or help them in other ways but most of them still save everything they can. Food a bit old? Nah tastes a bit weird but still edible! - You don't want to eat everything that's on your plate? When I was young...!

I guess if you lived several years with almost nothing it doesn't matter how much money you have on your bank account you still have that "having nothing" engraved in your mind. At least most people live like that from what I've seen myself in the old generation

Gonna have to play devil's advocate a bit here.
Take the food and clothes and divide them among 4 people, the numbers aren't that out of line:

$16 per day on food
$200 per month on clothes

Could they decrease that? Probably yes, but the amounts aren't insane for NYC, they just add up to a lot over time.

This is an edited version of an image from financial samurai.
The whole point of the original image is how frivolous spending will fuck you over hard.

This has to be bait.

Here is what it really should be.

>18k to charity

I bet they must be a bunch of SJWs.

Serves them right. They sure don't get my sympathy.

I disagree. I think the alumni association could do without them, but giving to feed people is hardly selfish.

I would reduce the child care, cars, and stop non-matching 401k contributions until all debt is cleared

>Why does he need a BMW?
the real question is: why does he need two cars? Or why does he need one car? He lives in New York City! I bet he bought them brand new, too.

You're right about the clothes, too.

>STEP 1: Move to Texas
You can't keep the same jobs and move to Texas, retard. The whole reason cities like NYC and San Francisco are expensive is because that's where the high-paying jobs are, so everyone moves there and rent prices go up. Ideally, more housing would then be built until things returned to equilibrium, but building more housing is forbidden because it would lower (((their))) property values.

>he does things differently in his personal life than literally every other wealthy person
>everyone else is the weirdo! Muh infallible Buffet!

It's just idiotic.

Why can they not say "Hey, this year we will live like a pauper, and save $450,000"

It's their desire to "feel rich", that is keeping them poor.

Big words coming from someone who is most likely poor himself.

>inb4
>"but but but im not poor in values and work ethic and those are the ones that count right mommy?"

>Taking 3 vacations a year
>Spending $65 A DAY on food
>Giving $18,000 to charity, feeding the leaches on society's ass no less instead of just letting them die as they should
>Spending $2375 a year per person on clothes
Fucking ridiculous

In case you're a fucking retard let me help you out.

That picture is complete bullshit.

I shouldn't have to break down how the various ridiculous aspects of that image.

It's basic "wah wah, the rich don't actually have it that easy" drivel that they feed to the poor to distract the poor from how badly they are being horse fucked.

old guy grew up with nothing? His dad was a US senator. he grew up at least upper middle class

>help me save money!
>WHAT?! I have to CHANGE my LIFESTYLE?! fuck that shit!
Grow up.

In fact I remember reading in a biography that Buffett has mingled with wealthy people from an early age

I believe I read this too. Mostly to learn investing from them.

>Here's why a couple earning $500K a year in NYC ends up with nothing
>besides 401(k)
>And 3 vacays a year
>And an overpriced car and house
>And over 50k to spend to kids
>And 20k to spend on other people's kids
>And life insurance for memes
>And the 7.3k left over

Here is how McDonalds budgets for you.

nasdaq.com/article/mcdonalds-sample-budget-sheet-is-laughable-but-its-implications-are-not-cm261920

>$100 per month on phone and cable
Fuck right off.
$20 for phone, $0 for cable TV, it's worse than what you can get for free on the internet

185k on taxes without proprty taxes and all other shit like VAT?
Are you amerifats socialists or something?

Whenever I see this picture, I don't know what I love more; the $0 on heating or the non-existence of a food budget.

Well if you work at McDonalds you get free food on the job

>1.5 mil home
>18k to charity
>Life insurance
>$800misc per month
>Leasing cars
>Owning two cars in New York City
>Owning a LandCruiser in New York Fucking City.
>3 holidays a year.
>Huge amount on clothes (Ok i guess kids growing up need new clothes but still)
>Huge amount on food.

CHARITY?! next year, do not give the money to charity.

invest the money in me, i will start a business and give you a percentage of the profits.

let’s talk: [email protected]

WHERE IS FOOD

>raging over charitable donations
Y'all are some heartless psychopaths. Donating 3% of your gross income is hardly excessive, not to mention all the good things that flow from it. I'm disappointed and saddened at your fucked up priorities.

>pic related
>I give what I can

charity, kek

nothing is real and nothing matters. how can i even be sure other humans exist? we’re probably in a simulation.

why would i give money to a charity. why.

>Car Payment
An old car is $1000-$3000. Doesn't need payments.
>Cable/Phone
lol kill the cable, use a prepaid phone