CEO's post about high-earning tech couple "living paycheck to paycheck" sparks online debate
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Damon Chen, CEO of Testimonial.to, stirred a conversation on social media platform X (formerly Twitter) after sharing an eye-opening story about a high-earning couple who, despite having lucrative tech jobs, struggle financially.
The revelation came from a friend of Chen's who works at Google and admitted that they often feel cash-strapped, despite their seemingly affluent lifestyle.
The core issue, as outlined by Chen, stems from the couple's staggering monthly expenses, which total an overwhelming $30,000 (approximately Rs 25 lakh). Their spending includes $17,000 for the mortgage on a $3 million home, $3,000 in property taxes, $3,000 in private school fees for one child, $2,000 for travel, $1,000 on utilities, $2,000 on groceries, $1,000 for dining out, and $1,000 on car payments for two vehicles.
Chen noted that these expenses don’t even cover costs for home maintenance, subscriptions, or other typical family-related spending. To maintain this lifestyle, the couple would need to earn around $60,000 a month before taxes, or approximately $720,000 annually.
His post quickly went viral, igniting a debate on the practicality and sustainability of such a high-cost lifestyle. In his reflection, Chen posed a critical question: "What's the point of living a life like this?"
The discussion saw mixed reactions from users.
One user, identifying as a Mountain View resident, shared how they maintain a simpler lifestyle despite earning well, opting for family time over expensive luxuries. Others chimed in, with one user commenting, "I’ve always dreamed of living in the Bay Area, but when I see this, I feel way better off in France," while another pointed out, "That's not paycheck-to-paycheck. That's a lifestyle choice. Big difference."
Many agreed that while the couple’s situation could be stressful, it was less about true financial hardship and more about their lifestyle decisions. As one user noted, “Living paycheck to paycheck” traditionally describes working-class struggles, while this situation reflects “spending every penny they make.”