https://www.msn.com/en-us/money/personalfinance/my-family-of-four-can-no-longer-live-comfortably-on-230-000-a-year-here-s-how-much-the-american-dream-really-costs/ar-BB1hmDeC?ocid=msedgntp&pc=U531&cvid=421ce49521474c688e1e397016b48f30&ei=9 "A former Goldman Sachs analyst says his family of four need to earn more than $230,000 per year in order to live comfortably in California’s San Francisco Bay Area. Sam Dogen, now 46, hit headlines in 2012 after retiring at the age of 34 with a $3 million net worth. Since that time, the father-of-two — who has also penned the bestselling book “Buy This, Not That: How To Spend Your Way To Wealth And Freedom” — has been living off passive income from stocks, bonds, and real estate. But in a candid new post for his website, Financial Samurai, Dogen revealed that he recently cashed out a considerable portion of his investments to purchase a property for his young family, in struggling but still pricey San Francisco. Now, the financial guru says his investments will generate just $230,000 before tax, while his annual expenses are projected to top $288,000 in 2024. To net that sum, Dogen estimated he would have to earn approximately $420,000 a year before taxes were taken out." #personalfinance #investments
So is the article mocking this guy when they say he's a financial guru?
San Francisco living is expensive. However, he can live anywhere because he is not tied to a location because of a job. Also, I would reckon that his “level of comfort” is quite different than the average person. Like WTF you do all day Bro, you don’t have a job
Who would someone who doesn't need a location -based income (aka who has mind blowing passive income) chose to live in HCOL area?
Because areas cost more when they don’t fucking suck
I live in a Bay Area burb which is expensive as fuck and sucks worse than MCOL in VA for example
A guillotine would solve his problems.
Bad financial decisions.. I know family of 4 living on 150k so give me a break ( house paid off )
Girl
So the guy retired early and failed financially?
There are plenty of places where one can live on a half of $230K quite comfortably. Why San-Fran-Frico?
The world’s tiniest violin is playing just for him