Friday, December 05, 2008
What Is The Cost Of Living?
Have you ever done the math?
My bills are between $3,000 and $4,000 each month. Add to that $2,500 in monthly rent.
$3,500 x 12 months = $42,000
$2,500 x 12 months = $30,000
Total Annual Expenses = $72,000
At a 50% tax bracket, that would imply we need $144,000 of gross income JUST TO BREAK EVEN on the year.
Round down to say $130,000 - which I submit is what it costs in gross income to raise a family of four in 2008 Boston, Massachusetts.
Look at this chart below that I found. It pretty much corroborates my contention:
Now, mind you, we don't have any student loans, no car payments, no childcare expenses. I mow my own lawn, shovel my own driveway, and clean my own house. And what clothes I do own come from the sale racks at Old Navy.
I just don't know how EVERYONE can spend the money they spend.
There'll be no pensions when we retire. Social Security will be bankrupt - as will Medicare.
Y'all need to stop wasting money and start thinking long term.
Make poverty history?
Hah! We really ought to take a bite out of *luxury* as well.