The wealthy couple, who have a net worth of $1.3 million, said they “feel broke” despite earning up to $70,000 a month.
Sandra, 46, and Brad, 48, who have been married for 25 years, say disagreements over money have put a strain on their relationship to the point where they are considering divorce.
The couple told “I’ll Teach You to Get Rich” podcaster Ramit Sethi that they have four children and maintain a “high-end lifestyle” that includes private school, ballet lessons, and sports camps for their children. ” he said.
The news is CNBC first reported.
They splurged $25,000 on a bedroom set.
Even though Brad earns $70,000 a month in the mortgage industry, Sandra told Sethi: “On paper we’re not bankrupt, but in reality we feel like we are.”
Although Brad’s income has decreased from his $800,000 annual income, the couple’s expenses are on track.
Sandra’s concerns stem from Brad’s decision to invest $1 million of their savings in a dangerous fracking operation, for which she has been paying $20,000 a month.
Sandra is irritated by Brad’s risky bet, a self-described “entrepreneur with guts.”
“I just don’t understand why he doesn’t get a job,” she says.
Sandra said she wants a steady income, but her husband wants “the moon and the stars and everything in between.”
While Brad is the main breadwinner, Sandra is responsible for keeping track of the couple’s finances.
She said she maintains a spreadsheet that tracks the inflow and outflow of cash across 82 different spending categories, including her children’s ballet and basketball camps, trips to Cancun, dog food and her annual Costco membership.
Sandra said that when the economy was good, she “didn’t worry about budgeting,” but her husband has a “highly variable income,” so there were “dead months” and she wondered if she could cover everything on her own. He says he has doubts. Necessary within budget.
“Sometimes I’ll ambush him at inappropriate times, like before bed, and tell him how bad our money looks,” Sandra said.
Brad tells Sethi that Sandra will be upset no matter how much money she has in the bank.
“It’s very frustrating to have the same conversation over and over again, whether you have a lot of money in the bank or not,” Brad said.
“I feel like we’re playing the exact opposite game.”
