Comments on: The Yazbecks: Future Millionaire Couple

By: Cujo

Cujo — Thu, 04 Jan 2007 12:09:23 +0000

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

By: Todd

Todd — Wed, 03 Jan 2007 22:43:19 +0000

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.

By: Flexo

Flexo — Sun, 19 Nov 2006 02:49:18 +0000

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

By: paul yazbeck

paul yazbeck — Sun, 19 Nov 2006 01:25:23 +0000

Since I serve in the military, about 1/3 my income is tax-free. Military pay is broken down into Base Pay, BAH(housing), and BAS(food). 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

By: New York Kid

New York Kid — Mon, 23 Jan 2006 22:49:26 +0000

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.

By: Hazzard

Hazzard — Fri, 06 Jan 2006 19:00:42 +0000

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

By: Lauren

Lauren — Fri, 06 Jan 2006 16:48:59 +0000

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.

By: Flexo

Flexo — Fri, 06 Jan 2006 08:38:06 +0000

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.

By: TerriW.

TerriW. — Fri, 06 Jan 2006 03:32:32 +0000

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!

By: FMF

FMF — Thu, 05 Jan 2006 22:19:30 +0000

Gotta love how much they are saving!

By: Seattle

Seattle — Thu, 05 Jan 2006 21:08:45 +0000

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!