Monday, May 4, 2009

Stretched on $500k/year

"Nor does he appreciate being branded as "rich" when it's far from certain he'll ever build the kind of lavish nest egg the truly wealthy enjoy, especially after the current market meltdown."

"Kelly Lynch, the owner of a commercial maintenance company in Redondo Beach, Calif., is raising two kids with her partner, Jill Fenske, on a household income of $400,000. She's saving $800 a month for the children's college fund and $4,000 a month for retirement - a number that someday might make her rich. "If I blew my money like other people, I'd feel rich," says Lynch. Her views on taxes are befitting a born entrepreneur: "I think it would be unfair if someone tried to raise my taxes," says Lynch. "I don't think people should be penalized because they earn more.""

"Even at the upper end of the HENRY group, our cover subjects, Lindsay Mayer and her husband, Zach, a Dallas attorney, feel stretched on $500,000 a year."

"Tony Molino, 50, an attorney in Rancho Palos Verdes, Calif., speaks for legions of HENRYs: "I've worked 50 to 60 hours my entire life, and I don't have a lot left over at the end of the month. I'm comfortable, but when Joe Biden talks about sucking it up, getting patriotic, and paying more taxes, I get livid.""

Poor people, not sure if they will ever be TRULY rich.

Here's a book that shows what really means to work hard: And it is not sitting at the desk for 2 hours more a day. It's having 3 jobs as a janitor, a waitress, a maid, and despite working 14 hours a day not having enough money to rent an apartment or go to a doctor...

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