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.