People On Twitter Shred Tone Deaf Budget Breakdown Of Couple Making $500,000
The budget breakdown of a couple earning $500,000 a year has been eviscerated on Twitter after users express their disbelief and distaste for the couple’s spending habits and inability to save more.
CNBC tweeted an image of the offending budget breakdown, which included a questionable percentage of income being taken out by taxes, 401(k) contributions, mortgage payments and other expenses.
Here's a budget breakdown of a couple that makes $500,000 a year and still feels average. https://t.co/mauqIGvcRwpic.twitter.com/eh7xBwvMV1
— CNBC (@CNBC) March 26, 2019
The CNBC piece that the tweet links to explains that the two are fortunate enough to max out their allowed 401(k) contributions each year but that after things like student loan debt, taxes and child care, “there’s only $7,300 left each year to go towards other savings goals, investment accounts or retirement funds.”
That information didn’t go over well with many readers. The breakdown of what the couple spends on — like “three vacations a year” and a BMW — hit a nerve for many people on social media.
Related Video: How to Create a Family Budget
The report is from March 2018, so the couple may be doing better (or worse?) now, but it seems CNBC was up for recirculating the article and inciting some internet fervor.
Vacations: $18,000 a year
BMW 5 Series and a Toyota Land Cruiser: $9600 a year
Children's Lessons: $12,000 a year
someone who is good at the economy please help me budget this. my family is dyinghttps://t.co/ugrCjN60yK
— Rob Flaherty (@Rob_Flaherty) March 26, 2019
imagine being able to put away $36,000 in a 401k every year that is more than two annual federal minimum wage jobs https://t.co/TDJpe4sqwW
— darth (@darth) March 26, 2019
CNBC is remarkably good at making people get mad about this breakdown every 6 months or so. https://t.co/zJOV4N4Bym
— Justin Green (@JGreenDC) March 26, 2019
40 percent effective tax rate??? I call shenanigans https://t.co/Dxw0uf3J9C
— ryan cooper (@ryanlcooper) March 26, 2019
Imagine what that student loan debt must feel like when not making $500k/yr. https://t.co/xOgbDFmuU7
— Ryan Collins (@collinsr) March 26, 2019
if you're spending 18K on 3 vacations in a year and still feeling "average" you're an idiot. https://t.co/WASKplbtvz
— Matt Whitlock (@mattdizwhitlock) March 26, 2019
"we bought a $1.5 million dollar home and we feel average, feel bad for us" https://t.co/WhVesL62CD
— jordan (@JordanUhl) March 26, 2019
Yes, if you spend all your money on things, you will no longer have money for other things https://t.co/wIvpQJKoUL
— For Chief, This Is It (@jesseltaylor) March 26, 2019
pretty much everything on this list would be a life-changing amount of money to most folks, and IMO it's becoming increasingly obvious that these news outlets just do this to upset people https://t.co/hL8bRNz7sD
— Mike Toole (@MichaelToole) March 26, 2019
I wish I had 7 stacks left after I had this 'average' year. GTFOH #IGTBWhttps://t.co/xvS0SjgjfI
— Herb Lawrence (@Ecnerwal23) March 26, 2019
Yes. Their 1.5 million dollar home, 3 vacations a year, 401k contributions, 3 million in life insurance, and 18k in charity donations is so delightfully average. They must have to wear last seasons jimmy choos! Basic af amirite? https://t.co/VBvJythDIe
— Jesse Cox - The Club Is Coming (@JesseCox) March 26, 2019
This article originally appeared on HuffPost.