“Well, first off, half of that million is in deferred stock compensation,” Mike, a vice-president at a top-tier bank, allegedly told hedge-fund manager and scribe James Altucher. “Second, out of the half a million that’s left, count off half to the IRS. That’s $250,000 left.” Then there are all of his living expenses. You know. The basic necessities of life.
My wife wants to upgrade our Hamptons rental. Throw out another $50,000 for next summer. I have one kid in kindergarten and another in second grade. When you count private-school tuition, ballet and fencing lessons, that’s at least another $60,000 out the window. So now I have $140,000.”
How are they supposed to live on that?
How are they supposed to live on that?
And to think Cruel Obama wants to tax him even more, when he’s already suffering so.
Think You Can Get By On $250,000? Even $1 Million Won’t Cut It In New York [Business Insider]
Related: The Wail of the 1% [NYM]
