Baller Couple: Living On $615K A Year In Seattle | Millennial Millionaire

[drusso]

New doctors and physicians in training have a lot to learn from this couple! House-hacking, disciplined saving, and FIRE!

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[Laryngospasm]

Lol

 

[hyperalgesia]

New doctors and physicians in training have a lot to learn from this couple! House-hacking, disciplined saving, and FIRE!

I'm afraid more people will be misled by this couple than inspired by them.

Reminds me of the videos about crypto millionaires.

 

[mariajane]

If money is the GOAL (it’s not mine), then they’re doing their thing.

Better than the fakers. I know of “pseudo ballers” who purchase giant homes around a nearby lake (where NFL and NBA players live). They max out on the mortgage such that they can’t afford ANYTHING else... have to rent furniture when they host parties cuz they don’t have a penny more to their name.

That said....how silly (for the couple in this video) to work so hard to make money only to have to live with multiple roommates. Are the extra pennies worth it? Meh.

 

[Status Sciaticus]

is 615K a lot for a couple? thats 307k/physicians. not really "baller"

 

[mariajane]

is 615K a lot for a couple? thats 307k/physicians. not really "baller"

Median household income in my state is 54,000. 615k probably considered baller to 95% of families, yes. Also probably seems baller to the 3.1 million children who die from undernourishment each year. I grew up in a home where at one time my parents and two kids lived on my dad’s wage of 6/hr alone.

As an NP now I’m making $60/hr (which is basically pennies to most of y’all). My husband does well enough making low six figures as well. We are far too blessed.... feels baller even though i know it’s far from it.

 

[Status Sciaticus]

Median household income in my state is 54,000. 615k probably considered baller to 95% of families, yes. Also probably seems baller to the 3.1 million children who die from undernourishment each year. I grew up in a home where at one time my parents and us two kids lived on my dad’s wage of 6/hr alone.

As an NP now I’m making $60/hr (which is basically pennies to most of y’all). My husband does well enough making low six figures as well. We are far too blessed.... hope to use what feels very baller (but I know isn’t) to do some good.... not trying to sound arrogant.... just feel very blessed (by God) and undeserving.

LOL are we really playing this game?
Physicians by definition are not 'median'. Theres a lot of upfront costs in both time and money that goes in that the 'median' family doesnt pay.
Additionally, I asked about 615k being a lot for a couple in a HCOL area, not whether that money seems baller to undernourished kids...

 

[mariajane]

LOL are we really playing this game?
Physicians by definition are not 'median'. Theres a lot of upfront costs in both time and money that goes in that the 'median' family doesnt pay.
Additionally, I asked about 615k being a lot for a couple in a HCOL area, not whether that money seems baller to undernourished kids...

I wasn’t playing any kind of game. Just answering from my perspective. You said $615k doesn’t seem baller. I don’t know the definition of baller.... but to those making far less (which is a significant majority) it sure seems that way.

In terms of physicians being median or not, I’m sorry but that explanation doesnt compute - as in, I don’t know what you’re trying to get at - no comprende.

 

[Status Sciaticus]

I wasn’t playing any kind of game. Just answering from my perspective. You said $615k doesn’t seem baller. I don’t know the definition of baller.... but to those making far less (which is a significant majority) it sure seems that way.

In terms of physicians being median or not, I’m sorry but that explanation doesnt compute - as in, I don’t know what you’re trying to get at - no comprende.

What I am saying is what the median income household is irrelevant when discussing physicians or other professional careers that require much more time and schooling than most American people, thus they should not be compared to the median income to justify being "baller".

 

[mariajane]

Gandalf,
This logic is quite flawed. A lifestyle and income is of an absolute value, regardless of the effort (or lack thereof) necessary for it to come to fruition. Obviously school debt can be subtracted if considering net worth. If one person makes 1 million net income per year as a physician and the next person makes 1 million net yearly due to income as a farmer off the family farm inherited, the income is equal regardless. Still not clear on what you’re trying to accomplish with this line of thinking.

Perhaps you are on unclear what median income means?

 

[callmeanesthesia]

Gandalf,
This logic is quite flawed. A lifestyle and income is of an absolute value, regardless of the effort (or lack thereof) necessary for it to come to fruition. Obviously school debt can be subtracted if considering net worth. If one person makes 1 million net income per year as a physician and the next person makes 1 million net yearly due to income as a farmer off the family farm inherited, the income is equal regardless. Still not clear on what you’re trying to accomplish with this line of thinking.

Perhaps you are on unclear what median income means?

I see your point but also theirs. Consider not just yearly income but opportunity to accumulate wealth. Medical training, in addition to student debt, is 12+ years of deferred investment, retirement savings, home ownership, etc compared to someone who takes a job straight out of HS.

 

[Ducttape]

What I am saying is what the median income household is irrelevant when discussing physicians or other professional careers that require much more time and schooling than most American people, thus they should not be compared to the median income to justify being "baller".

why is it irrelevant?

do we physicians shop, live, eat and sleep in different shops or communities than the average American?

yes you might have put in and invested much more to get to your current situation.
but that fact has no relevance to the cost of living, and the cost of goods. what matters is how much you have.
(and those investments and loans were probably never available to the average American.)

please don't discuss how difficult it is to afford your 3rd Tesla to your Medicaid patients that buy their groceries from the dollar store......

 

[lobelsteve]

why is it irrelevant?

do we physicians shop, live, eat and sleep in different shops or communities than the average American?

yes you might have put in and invested much more to get to your current situation.
but that fact has no relevance to the cost of living, and the cost of goods. what matters is how much you have.
(and those investments and loans were probably never available to the average American.)

please don't discuss how difficult it is to afford your 3rd Tesla to your Medicaid patients that buy their groceries from the dollar store......

What about the caid patient who has 2 iphone 11 and their kid is playing on a 2000 macbook pro?

 

[Ducttape]

What about the caid patient who has 2 iphone 11 and their kid is playing on a 2000 macbook pro?

talk to them. find out how they got that.

I'm going out on a limb but more likely all the disposable they have goes in to those devices. its "their" Jeep Gladiator or Superlite GT-R.

or sneakers. Episode 101 - "Sneakers"

 

[VA Hopeful Dr]

why is it irrelevant?

do we physicians shop, live, eat and sleep in different shops or communities than the average American?

yes you might have put in and invested much more to get to your current situation.
but that fact has no relevance to the cost of living, and the cost of goods. what matters is how much you have.
(and those investments and loans were probably never available to the average American.)

please don't discuss how difficult it is to afford your 3rd Tesla to your Medicaid patients that buy their groceries from the dollar store......

Seriously?

Yes, yes, yes, and yes.

Bear in mind the average American family makes 78.5k/year. I know the median income in my neighborhood is a good bit above that, and I'm only a lowly family doctor. You pain folks likely live in nicer places than I do.

 

[deleted941485]

Gandalf,
This logic is quite flawed. A lifestyle and income is of an absolute value, regardless of the effort (or lack thereof) necessary for it to come to fruition. Obviously school debt can be subtracted if considering net worth. If one person makes 1 million net income per year as a physician and the next person makes 1 million net yearly due to income as a farmer off the family farm inherited, the income is equal regardless. Still not clear on what you’re trying to accomplish with this line of thinking.

Perhaps you are on unclear what median income means?

I think you are being deliberately obtuse in this matter. You compare yourself relative to your peers of similar stature. Think of it this way, When you take the MCAT, GMAT or any standardized of consequence you aren’t compared to the general public. It would be meaningless

High achieving professions compare themselves to one another for reasons that should be obvious. Using median or average income is worthless and in my experience only used to single out a profession that they think is overpaid.

 

[mariajane]

I think you are being deliberately obtuse in this matter. You compare yourself relative to your peers of similar stature. Think of it this way, When you take the MCAT, GMAT or any standardized of consequence you aren’t compared to the general public. It would be meaningless

High achieving professions compare themselves to one another for reasons that should be obvious. Using median or average income is worthless and in my experience only used to single out a profession that they think is overpaid.

Not suggesting anyone is underpaid or overpaid. Just denying the notion that 615/year isn’t a VERY nice income. No more no less.

 

[Status Sciaticus]

Gandalf,
This logic is quite flawed. A lifestyle and income is of an absolute value, regardless of the effort (or lack thereof) necessary for it to come to fruition. Obviously school debt can be subtracted if considering net worth. If one person makes 1 million net income per year as a physician and the next person makes 1 million net yearly due to income as a farmer off the family farm inherited, the income is equal regardless. Still not clear on what you’re trying to accomplish with this line of thinking.

Perhaps you are on unclear what median income means?

This reasoning is simplified. You are not just making 1 million/year and that takes care of all your loans. You lose the ability to grow your wealth, lose the ability to accumulate wealth, delay your life plans as you are going through training. This doesn't even include the time that you lose. You're not getting those years back; neither are you getting the time back to gain true wealth via investments and compounding interest.

How many farmers are making what an average physician is making? Not really sure what youre trying to accomplish with these unrealistic comparisons.

why is it irrelevant?

do we physicians shop, live, eat and sleep in different shops or communities than the average American?

yes you might have put in and invested much more to get to your current situation.
but that fact has no relevance to the cost of living, and the cost of goods. what matters is how much you have.
(and those investments and loans were probably never available to the average American.)

please don't discuss how difficult it is to afford your 3rd Tesla to your Medicaid patients that buy their groceries from the dollar store......

You live in the same building, but got different views.
You may walk on the same road, but you have on different shoes

Your very point about medicaid patients buying dollar store groceries while most physicians will shop at HEB/Kroger/WholeFoods/etc shows that you visit different shops and eat differently than the 'average american'

I think you are being deliberately obtuse in this matter. You compare yourself relative to your peers of similar stature. Think of it this way, When you take the MCAT, GMAT or any standardized of consequence you aren’t compared to the general public. It would be meaningless

High achieving professions compare themselves to one another for reasons that should be obvious. Using median or average income is worthless and in my experience only used to single out a profession that they think is overpaid.

This is exactly what I am trying to point out. Hence my ORIGINAL post asking if 307/physician would be considered baller in seattle, before someone attempted to bring up undernourished kids.

 

[mariajane]

I'm reading your post(s) trying to grasp your point and understand your logic. I have come to the conclusion that you have no point and your thinking is tangential (at best). Good day.

 

[Ducttape]

by your own definition, physicians by the fact that they can go to HEB/krogers/whole foods are living the baller lifestyle...

 

[SommeRiver]

Dude...Are you a crazy person?

 

[Status Sciaticus]

I'm reading your post(s) trying to grasp your point and understand your logic. I have come to the conclusion that you have no point and your thinking is tangential (at best). Good day.

MD Aware

by your own definition, physicians by the fact that they can go to HEB/krogers/whole foods are living the baller lifestyle...

I wouldnt say thats baller. Having a gourmet chef make all your meals is baller. Guess its just a matter of perspective.

 

[Ducttape]

well, your perspective is focused entirely on a very small segment of the population. so I will give that maybe $615k is not baller in the group of people making over $500k.

but those making over $500k represent 0.5% of the US population, roughly 800,000 returns, out of roughly 160,000,000 returns filed in 2019.

so keep admiring the leaves of a tree while the rest of us are lost in the forest.

(sorry, I'm hammering the point because income inequality is a major generator of our societal issues)

 

[SommeRiver]

615k per year is a huge sum of money that very few people will ever see...That is $51,250 PER MONTH, before the tax man gets his share.

That amount of money is not only uncommon in society, it is uncommon AMONGST PHYSICIANS...

A small minority of physicians make 615k per year.

 

[Yo GabbaPentin]

The “baller” status is subjective. When I was in residency, living in a ghetto apartment eating ramen, I would consider affording HBO “baller.” It wasn’t until my first 5 years of real paychecks that I realized what “baller” would transition to in my life. Which is HBO max of course.

 

[drusso]

The “baller” status is subjective. When I was in residency, living in a ghetto apartment eating ramen, I would consider affording HBO “baller.” It wasn’t until my first 5 years of real paychecks that I realized what “baller” would transition to in my life. Which is HBO max of course.

It's not subjective:

Baller = 1 million per year total compensation (salary, deferred, rental & investment income)

1/2 Baller = 1/2 million per year total compensation (salary, deferred, rental & investment income)

Most doctors are somewhere between 0.4 and one Ball.

 

[SommeRiver]

1,000,000 = B

B - 615,000 = 385,000

385,000 = More than most recent pain fellow graduates make...Most will make more than that after a few yrs, and many will not.

615,000 = More than the VAST MAJORITY of pain doctors make...

Therefore:

0.615B = Baller to most of you...

 

[Ducttape]

The “baller” status is subjective. When I was in residency, living in a ghetto apartment eating ramen, I would consider affording HBO “baller.” It wasn’t until my first 5 years of real paychecks that I realized what “baller” would transition to in my life. Which is HBO max of course.

I think I make good money (tho I'm making less than you guys).

I still eat ramen.


this is baller ramen:

Momosan Ramen & Sake

Momosan Ramen & Sake - Ramen, Restaurant and Sake Bar in New York, Boston, Wynwood, Waikiki, Santana Row and more. By Iron Chef Morimoto

momosanramen.com

 

[drusso]

I think I make good money (tho I'm making less than you guys).

I still eat ramen.


this is baller ramen:

View attachment 317160

Momosan Ramen & Sake

Momosan Ramen & Sake - Ramen, Restaurant and Sake Bar in New York, Boston, Wynwood, Waikiki, Santana Row and more. By Iron Chef Morimoto

momosanramen.com

That looks delicious!

 

[Candidate2017]

The etymology of "baller" refers to having professional athlete amounts of money. Likely all-star or first round draft pick athlete money, not just the minimum NFL $600k salary. So tens of millions of dollars per year.

 

[Yo GabbaPentin]

The etymology of "baller" refers to having professional athlete amounts of money. Likely all-star or first round draft pick athlete money, not just the minimum NFL $600k salary. So tens of millions of dollars per year.

I have to agree. “Baller” is a term typically not used on the 40 year old back up punter making league minimum.

 

[drusso]

I have to agree. “Baller” is a term typically not used on the 40 year old back up punter making league minimum.

At least they're smart enough to have a union. Doctors can't figure that out.