"Ocasio-Cortez’s future budget shows just how fast $350,000 a year can run out "

[accolay]

From my post in General Discussion:
https://forum.mrmoneymustache.com/welcome-to-the-forum/'-just-how-fast-$350-000-a-year-can-run-out-'/


Via Market Watch, stolen from Financial Samurai. The entire title is "Ocasio-Cortez’s future budget shows just how fast $350,000 a year can run out."
https://www.marketwatch.com/story/ocasio-cortezs-future-budget-shows-just-how-fast-350000-a-year-can-run-out-2019-10-21?siteid=yhoof2&yptr=yahoo
https://www.financialsamurai.com/how-aoc-and-other-congressional-members-can-afford-to-raise-kids-in-washington-dc/

Click-Bait title to draw those who hate AOC. Beyond the budget being another one of those whiney "I just can't survive on my huge income" stories:

1. The budget isn't AOC's budget, she didn't create it. It's an exercise from the author because she criticized another fake budget he compiled.
2. A lot of the comments come from those who really hate AOC and clearly didn't read the article.
3. How do you feel about the suggestion that you should find a wealthier spouse, especially for the ladies because I sense that suggestion was meant for them?

[RetiredAt63]

My oh my, the number of commenters who do not understand the word "hypothetical".  Or don't stop to think that this budget is for a married woman with children, not the single childless woman it is hypothetically for.

[talltexan]

I listened to Mike Pesca's take-down of this budget exercise (here's a link to a written version: https://slate.com/human-interest/2019/10/outrage-budget-wealthy-article-struggling.html )

The reason it infuriates so many people outside of the HCOL areas is because we don't appreciate just how much real estate costs there. That makes every single line item go up, because the service you're buying is from a person who has to pay those housing costs, too, and--if they're young--didn't enjoy the b benefit of the real estate appreciation.

And, yeah, put in "Ocasio" and "Budget" and you're basically guaranteed to get a click from an old, white, freedom-loving person.

[scantee]

All of these “A $750k a Year Budget Doesn’t Get You Far These Days!!” articles are meaningless click bait so I guess I have to give them credit for making it even more click baity by throwing AOC in there for no particular reason.

[Tuskalusa]

I’m from the Bay Area.  I think that this kind of “I can’t make ends meet” whining makes all of us look stupid, tone deaf, and privileged. I thought AOC’s comment was priceless.

I mean, jeez, if you have that kind of money and a lot of free time, why not spend some time trying to make the city better for everyone?  If you think the public schools aren’t delivering, do something about it. Volunteer at your local school. Seek to improve what you already have. Jeez.

Rant over.

[talltexan]

Isn't the point that generating that level income requires designing a life with very little free time?

[DarkandStormy]

There are a lot of white dudes who are triggered by AOC.  It's kind of pathetic, tbh.

[LennStar]

So what was her comment on the first article? I generally ignore that stuff but it sounds like fun.

[Cpa Cat]

Honest question... Does the Financial Samurai write about anything other than how hard it is to be rich?

I feel like every one of his articles that I've seen is just re-iterations of "It's hard to meet a budget when I make up ridiculously high budget-breaking numbers for expenses." "It's hard to make ends meet when you need to send 6 hypothetical children to the most expensive private school in a HCOL state." "It's hard to live on excessive riches when I spend all my money!"

[Wrenchturner]

Honest question... Does the Financial Samurai write about anything other than how hard it is to be rich?

I feel like every one of his articles that I've seen is just re-iterations of "It's hard to meet a budget when I make up ridiculously high budget-breaking numbers for expenses." "It's hard to make ends meet when you need to send 6 hypothetical children to the most expensive private school in a HCOL state." "It's hard to live on excessive riches when I spend all my money!"

There's that name again, Financial Samurai.  I still know nothing about this person but they seem to get talked about a lot!

[DarkandStormy]

Honest question... Does the Financial Samurai write about anything other than how hard it is to be rich?

I feel like every one of his articles that I've seen is just re-iterations of "It's hard to meet a budget when I make up ridiculously high budget-breaking numbers for expenses." "It's hard to make ends meet when you need to send 6 hypothetical children to the most expensive private school in a HCOL state." "It's hard to live on excessive riches when I spend all my money!"

There's that name again, Financial Samurai.  I still know nothing about this person but they seem to get talked about a lot!

Some guy who hit it big in SF offering advice almost no one can follow bc very few people make $250k+ and in HCOL.  I mean, it almost reads as a parody at this point he's so out of touch with 99% of the country.

[Davnasty]

Honest question... Does the Financial Samurai write about anything other than how hard it is to be rich?

I feel like every one of his articles that I've seen is just re-iterations of "It's hard to meet a budget when I make up ridiculously high budget-breaking numbers for expenses." "It's hard to make ends meet when you need to send 6 hypothetical children to the most expensive private school in a HCOL state." "It's hard to live on excessive riches when I spend all my money!"

There's that name again, Financial Samurai.  I still know nothing about this person but they seem to get talked about a lot!

I haven't spent much time on his site but browsing the forums it seems they like to criticize MMM over there.

[Wrenchturner]

What I mean is--this guy is playing the click bait game and it's working.

[dandarc]

What I mean is--this guy is playing the click bait game and it's working.

Yeah this. More power to them I guess? Not producing any content of actual value, yet seems to be doing pretty well.

[Wrenchturner]

What I mean is--this guy is playing the click bait game and it's working.

Yeah this. More power to them I guess? Not producing any content of actual value, yet seems to be doing pretty well.

This social media influencer made $65 million with this one weird trick!

(Bloggers hate him!)

[Travis]

Honest question... Does the Financial Samurai write about anything other than how hard it is to be rich?

I feel like every one of his articles that I've seen is just re-iterations of "It's hard to meet a budget when I make up ridiculously high budget-breaking numbers for expenses." "It's hard to make ends meet when you need to send 6 hypothetical children to the most expensive private school in a HCOL state." "It's hard to live on excessive riches when I spend all my money!"

There's that name again, Financial Samurai.  I still know nothing about this person but they seem to get talked about a lot!

Some guy who hit it big in SF offering advice almost no one can follow bc very few people make $250k+ and in HCOL.  I mean, it almost reads as a parody at this point he's so out of touch with 99% of the country.

The people in his alleged demographic scoff at his "budgets."

[Davnasty]

What I mean is--this guy is playing the click bait game and it's working.

Agreed. that' why I've only seen a bit of his site. Try to avoid it now.

[Fomerly known as something]

I listened to Mike Pesca's take-down of this budget exercise (here's a link to a written version: https://slate.com/human-interest/2019/10/outrage-budget-wealthy-article-struggling.html )

The reason it infuriates so many people outside of the HCOL areas is because we don't appreciate just how much real estate costs there. That makes every single line item go up, because the service you're buying is from a person who has to pay those housing costs, too, and--if they're young--didn't enjoy the b benefit of the real estate appreciation.

And, yeah, put in "Ocasio" and "Budget" and you're basically guaranteed to get a click from an old, white, freedom-loving person.

It infuriates this person who lived for 8 years in HCOL area while making the lower end of the middle class salary in the beginning and the upper end of a middle class salary at the end.  I lived in a neighborhood where most probably had a household income of less than $150,000 and many less than $100,000 and we lived perfectly fine and saved.

But this is Sam and he doesn't realized he's rich because he's not glittering rich.

[talltexan]

I will give Sam credit for one very important thing:

his forecasts about the bond market look impressive. Most people were saying rates would rise in 2015. He was buying bonds anyway, and writing about it as the FRB has cut rates three times.