Can a middle class family survive on $50,000 a year? Pal Nancy and I did it, years ago, on $25,000 per year, but barely.
Filed under Uncategorized
The answer is a resounding “no.”
basis for a reality tv show?
In 2000, I (my publisher) published “The New Millionaire’s Handbook” a guide on being rich and obnoxious. At the time, some (other) poor friends and I considered a book on how to survive broke in a town like Greenwich. We had some great ideas, but never put it together. Ten years on, it may be even more appropriate.
Anon..I love this idea! A reality show – really a new type of “Survivor” for CBS. Perhaps Mark Burnett will produce. I can see it now – a family of four tries to live in Greenwich on 50 grand a year all the while trying, of course, to keep up appearances of respectability. Midnight Dumpster diving for Whole Foods throw aways, scrounging for “gently used” designer duds at the hospital thrift shop, trolling the churches for brunch at the apres service coffee hours on Sunday. Crashing weddings at the Hyatt. Hilarious. Entertaining, too.
Maybe we can recruit some local realtors to describe what its like to live on only $50 G’s a year. I bet there are some that can tell us what its like to live on even less.
Phyllis Diller/ABC did similar in the 1960’s, “The Pruitts of Southampton:
Didn’t work then.
‘The Pruitts of Southampton’ was the story of widowed Phyllis Pruitt, a Long Island socialite who suddenly finds she is flat broke because of unpaid back taxes. Because of her position in society, the government felt she was too big to fail, so to speak, and allowed her to keep up appearances.
Left with only the mansion (actually the Biltmore House in Asheville, NC) and her Rolls Royce, poor unprepared Phyllis is forced to deal with the real world (and her kitchen appliances) for the very first time….
I guess it was ahead of it’s time…
But how much would it take to live in Greenwich if you had no debt/rent? Of course this would vary greatly on how people would want to live but can you do that on $50k/year and still be happy?
yeah, Vulture, but don’t forget property taxes. $10,000, easy, on a modest house, an going up. That’s a big chunk.
For the first time, renters, as a class, have higher net worths than “owners”, i.e., debt slaves.
If you have to pay more than five figures a year in property taxes, in a sense, you’re renting anyway.
Oh, you own.
Go ask the majority of Town of Greenwich workers who earn $50,000 per year or less.
Yeah. All of the live 100 miles away….or in Bridgeport.
RSS - Posts
RSS - Comments
Enter your email address to follow this blog and receive notifications of new posts by email.
Join 274 other followers