The Yazbecks: Future Millionaire Couple

CNN Money’s back in the Millionaire in the Making game with an article featuring Paul and Audrey Yazbeck. She’s an account and he’s in the military, and they earn $125,000 combined each year.

The couple emphasizes starting to save early on in life and budgeting to keep expenses down. A sidebar included with article breaks down the couple’s monthly budget.

Income$9,600 100%
Investments($3,150)33%
Taxes($1,150)12%
Mortgage($970)10%
Transportation($760)8%
Entertainment and Food($700)7%
Miscellaneous (Clothes, Gifts, Donations)($570)6%
Travel($420)4%
Bills($355)4%
Insurance($270)3%
Household($150)2%

They still have about 12% of their income left over each month.

Scroll down to read 11 comments on “The Yazbecks: Future Millionaire Couple.”

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11 Comments on “The Yazbecks: Future Millionaire Couple.” To add your own comment, scroll down.

  1. #1: Seattle
    Thursday, January 5, 2006
    1:08 pm (reply)

    I notice in the article that their combined income is $125,000, but they chose to live on one income, saving his $50,000 last year. If the two of them can live on one income, then I should be able to live on half my salary. I’m up for the challenge!

  2. #2: FMF
    Thursday, January 5, 2006
    2:19 pm (reply)

    Gotta love how much they are saving!

  3. #3: TerriW.
    Thursday, January 5, 2006
    7:32 pm (reply)

    Huh. I don’t understand how they are only having to pay 12% taxes. I mean, yeah, she’s an accountant … but that seems awfully low to me!

  4. #4: Flexo
    Friday, January 6, 2006
    12:38 am (reply)

    That’s probably a sensible effective tax rate. Perhaps they plan their taxes well enough to owe or be owed very little when it comes time to file.

  5. #5: Lauren
    Friday, January 6, 2006
    8:48 am (reply)

    Texas has no state income tax, so that helps. However, 12% still sounds low. If I wanted to move back to TX, I guess I could be saving that much, but it’s not worth the tradeoffs. I couldn’t mortgage a trailer up here for that monthy payment.

  6. #6: Hazzard
    Friday, January 6, 2006
    11:00 am (reply)

    I love reading these “Millionaire” posts. I wish that CNNMoney would put one out each day, but I suppose they’d run out of potential millionaires pretty fast.

    I think they should also highlight couples in trouble and then help them figure out how to move forward. I find that reading about others finances is very interesting
    Hazzard

  7. #7: New York Kid
    Monday, January 23, 2006
    2:49 pm (reply)

    I guess if I made as much as $9600 per month I’d be on my way to millionaire status, too. The problem is that most Americans don’t make even $1500 per month!

    Not to say that you can’t save money but it’ll, definitely, take longer to become a millionaire. On top of that they’re combine income is 125,000! This article is for yuppies.

  8. #8: paul yazbeck
    Saturday, November 18, 2006
    8:25 pm (reply)

    Since I serve in the military, about 1/3 my income is tax-free. Military pay is broken down into Base Pay, BAH, and BAS. BAH & BAS are tax-free and total about $1400 a month. I was also deployed to Iraq for 3 months in 2005, and all income is tax-free while in a combat zone.

    $125,000-16800(BAH/BAS)-28000(401ks)-9000(3 months tax-free)

    =~71000 taxable income

  9. #9: Flexo
    Saturday, November 18, 2006
    9:49 pm (reply)

    Hi, Paul. Thanks so much for the comment. The housing and food allowances in the military are sure to be very helpful.

  10. #10: Todd
    Wednesday, January 3, 2007
    5:43 pm (reply)

    Our household income is aprox. $150k and our effective tax rate is about 12-13%. After the standard deduction and a couple other deductions, 12% total tax on their income sounds pretty accurate.

  11. #11: Cujo
    Thursday, January 4, 2007
    7:09 am (reply)

    Hell, I’d save a lot too if my mortgage was only $970/month. 10% of income going to housing is way below average.

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