Forbes takes a look at what the good life costs, with the “good life” being a nice house, good education for the kids, and a summer home. In the Northeast, my region of the country, it will cost at least $215,000 a year (after taxes and savings). That’s enough to make most families give up on the “American Dream.” View the slideshow for details.
A quiz accompanies the story, to help workers determine if their supervisor is, in fact, a psychopath. The quiz features questions like “Is he a pathological liar?” and “Is he callous and lacking in empathy?”
I have to say that the latest installment of CNN’s “Millionaire in the Making” series, Denise Vincent, is less than inspiring. She has a good amount of savings built up, but most of her worth is in her home equity. Not to take anything away from Denise, who I am sure has worked hard, but it seems the only reason she’s “on her way” to the millionaire’s “club” is because of her home appreciation; she has only paid off $10,000 of her mortgage in ten years! (Meanwhile, she says, “People with lots of debt are unattractive to me.” I can only assume she meant “credit card debt” and not “mortgage debt.”)
Her spending habits aren’t laudable. She is pleased with her purchase of a new 2004 Mini Cooper for $24,000 without negotiating away from the retail price, and although she works out every day, $35 a month is a lot to spend on a gym membership. Of course, all that matters is her opinion, and she seems to be happy with her choices.
Updated February 6, 2012 and originally published June 22, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.