There are way more of these out there than you would ever imagine although that level of income with that issue is outside the norm. I hate calling someone that owes money with their tax filings, because a lot of times they donāt have it. It amazes me the professionals every year that do payment plans with the IRS and we live in a low cost area of the country. Then I see their tuition information at the private school and parents are paying it, then I really wonder where their money goes. 3 vacations a year, LV purses, new cars, non school sports is a huge expense locally, student loans for one not working, country club dues to be able to eat with your buddies, duck hunting leases, alimony and child support for 2 prior marriages, etc and it all disappears quickly.
On the car topic, you can find decent vehicles under $30k all day every day. I bought my oldest a mid level Escape for $25k. I wouldnāt drive it every day, but itās functional transportation. I put 25k+ a year on a vehicle and Iām going to drive what I like. They get traded every 2 years and to this point Iāve come out pretty well on trade in values. I do okay, so Iām going to drive what I want while Iām here.