Is it possible to live paycheck-to-paycheck on $500,000? This 30-year old couple thinks so. Join us this week as we review the budget read around the world and try to figure out how a couple making $500,000 before taxes can only have $7,300 in annual take-home income each year. Check out Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape The Rat Race from FinancialSamurai.com. After reviewing the budget, Rich and Marcus discuss:
Be sure to check out the article and give us your thoughts in the comment section below on this couple's $500,000 "paycheck to paycheck" struggle, where you would cut expenses if you had this amount of income, or if you can relate. You can also always email us with more info or questions.
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Marcus’ book on how he buried and then dug his way out of over $30,000 in debt, Debt Free Or Die Trying, is available on Amazon. Check it out!
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Back to the finances! Ok, I originally thought this was a clever reference, but I realized while typing it that Back to the Future came out in 1985. While we reflect on our lives as older Millennials, you can enjoy another great guest episode featuring Mandi Woodruff! Mandi is a personal finance expert with a special focus on Millennial spending. She’s also a former Yahoo personal finance reporter who’s appeared as an on-camera expert for CBS and Good Morning America. More recently, she’s become executive editor at MagnifyMoney.com, a money columnist at Teen Vogue and co-host of the Brown Ambition podcast. We had an awesome wide-ranging discussion with Mandi covering:
Do you know what today is? It's our anniversary, made for you and me! That's right PB fans, this week we celebrate our first 12-months at Paychecks and Balances. Of course, we have to start by saying THANK YOU to the fans and listeners for the love and support! We wouldn't be here without you. But, like Mr. Diddy, PB can't stop won't stop, so while we reflect on what we've achieved this year, we're already excited for new projects, new content, and even more opportunities. We look forward to helping you be great and reaching more people in 2017 and beyond. This week's show discusses:
We go to college to get our “dream jobs,” then we are unable to pursue our dreams because we need the income from the job to pay off the debt incurred from going to college. What a time to be alive! “Simon Sinek (age 43) spoke to The Independent about how parenting, combined with social media, working environments, and our impatience have created a generation plagued by low self-esteem, and what we can do about it.” Say what now? Are Millennials really that entitled and emotionally ill-equipped? On behalf of Millennials everywhere, we debunk these alternative facts. On this week’s show we discuss: