Row 86934

Row ID: 86934 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 86934 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

>OP is likely still saving a non-trivial amount of his income by living within his means than everyone else who seems to be literally paycheck to paycheck.

But that's the point: *OP is almost certainly not living within their means* just based on their income, but they act like they have it all figured out and others are "doing something wrong". And they are *definitely* not able to save 50% of their income (even including retirement) while being able to travel and eat out, as they claim they "easily" could, unless they have some external help or other advantageous circumstances.

(To get this out of the way: I don't agree with your reasoning for just ignoring the $4k+ in college costs, but I'll go along with it.)

Ok, let's break it down. The IRA savings have no impact on tax, since it's a Roth per OP. So the picture looks like this (similar to your numbers, but less tax due to the 401k and less overall income due to Roth).

Gross income = $3333 Post-tax = $2860 (this accounts for the $2400 they claim to put in a 401(k)) Post-Roth contributions ($542/mo for 2023) = $2318 Post-OP's listed expenses = $1163 Post-OP's and my expenses (not including the college stuff) = $783

So OP has $783 left over every month for everything else, even with this *very* frugal projection.

I guess you could say that OP meant to include their Roth and 401(k) contributions *and the full leftover $783* when they said they could "save half their income". But then, I really call bullshit on the rest of the statement: "...easily save half my income **and still travel and eat out**". Either they are saving it or they are traveling and eating out (and sounds like the latter). Particularly the kind of travel they talk about (cruises to the Caribbean and Alaska, trip to Iceland...).

Yes, they can technically "afford" to have that lifestyle if they spend a good chunk of the $783 left over. But that's **not** responsibly living within your means when, as I said before, a moderately large medical bill or something like their car getting stolen would put them in a pretty tight spot (and it sounds like they are at high risk for that based on their housing choice).

\[**EDIT**: OP just added that [they and their partner spend $14k](https://www.reddit.com/r/Economics/comments/1cz1a2v/comment/l5j7myg/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)/yr just on eating out... they said their partner makes about the same as them, so if they paid for half of that that leaves $2396 for travel and any other non-listed expenses, lol...\]

Yes, *maybe* they have a big rainy-day fund sitting around from an inheritance, settlement, prior savings, etc... but if that's the case it again goes to the point: OP is full of shit saying "people are doing something wrong" when they have been fortunate enough to have circumstances that most others don't.

Good for them, by all means... but let's not pretend they are the ones who have it figured out and others who are struggling are just not doing things right.

FieldValue
text >OP is likely still saving a non-trivial amount of his income by living within his means than everyone else who seems to be literally paycheck to paycheck. But that's the point: *OP is almost certainly not living within their means* just based on their income, but they act like they have it all figured out and others are "doing something wrong". And they are *definitely* not able to save 50% of their income (even including retirement) while being able to travel and eat out, as they claim they "…
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-24
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Raw Record

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  "text": ">OP is likely still saving a non-trivial amount of his income by living within his means than everyone else who seems to be literally paycheck to paycheck.\n\nBut that's the point: *OP is almost certainly not living within their means* just based on their income, but they act like they have it all figured out and others are \"doing something wrong\". And they are *definitely* not able to save 50% of their income (even including retirement) while being able to travel and eat out, as they claim they \"easily\" could, unless they have some external help or other advantageous circumstances.\n\n(To get this out of the way: I don't agree with your reasoning for just ignoring the $4k+ in college costs, but I'll go along with it.)\n\nOk, let's break it down. The IRA savings have no impact on tax, since it's a Roth per OP. So the picture looks like this (similar to your numbers, but less tax due to the 401k and less overall income due to Roth).\n\nGross income = $3333  \nPost-tax = $2860 (this accounts for the $2400 they claim to put in a 401(k))  \nPost-Roth contributions ($542/mo for 2023) = $2318  \nPost-OP's listed expenses = $1163  \nPost-OP's and my expenses (not including the college stuff) = $783\n\nSo OP has $783 left over every month for everything else, even with this *very* frugal projection.\n\nI guess you could say that OP meant to include their Roth and 401(k) contributions *and the full leftover $783* when they said they could \"save half their income\". But then, I really call bullshit on the rest of the statement: \"...easily save half my income **and still travel and eat out**\". Either they are saving it or they are traveling and eating out (and sounds like the latter). Particularly the kind of travel they talk about (cruises to the Caribbean and Alaska, trip to Iceland...).\n\nYes, they can technically \"afford\" to have that lifestyle if they spend a good chunk of the $783 left over. But that's **not** responsibly living within your means when, as I said before, a moderately large medical bill or something like their car getting stolen would put them in a pretty tight spot (and it sounds like they are at high risk for that based on their housing choice).\n\n\\[**EDIT**: OP just added that [they and their partner spend $14k](https://www.reddit.com/r/Economics/comments/1cz1a2v/comment/l5j7myg/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)/yr just on eating out... they said their partner makes about the same as them, so if they paid for half of that that leaves $2396 for travel and any other non-listed expenses, lol...\\]\n\nYes, *maybe* they have a big rainy-day fund sitting around from an inheritance, settlement, prior savings, etc... but if that's the case it again goes to the point: OP is full of shit saying \"people are doing something wrong\" when they have been fortunate enough to have circumstances that most others don't.\n\nGood for them, by all means... but let's not pretend they are the ones who have it figured out and others who are struggling are just not doing things right.",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-24",
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