450k HHI- lifestyle questions

[Anonymous]

Please describe the lifestyle possible with this HHI. My friends who make this always complain about lack of money and "rich lifestyle", which I find ridiculous at 250k HHI.

Cars, house, trips - we all have 2 kids.

[Anonymous]

We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

[Anonymous]

"Sure, we make a lot of money, but we spend a lot, too." --Patrick Ewing

[Anonymous]

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

That's not everyone.

[Anonymous]

"Expectations are higher"?

Puhleeze. Own your choices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

That's not everyone.

No but I can see how that might be. If you make $450k at my firm you are likely in upper mgmt, many of whom also are on boards etc. wouldn't surprise me if there's greater expectations at thy level to donate funds etc

[Anonymous]

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

*snort* yeah, I expect you're a self obsessed douche bag who makes stupid financial decisions, so maybe you're right.

[Anonymous]

Ok, here we go. Let's say 20k take-home each month.

5k - Mortgage with taxes, etc.
4k - Private school tuition for two children
1k - Student loan payment
1k - 2 car payments
1k - Groceries and other household items
1k - Utilities, including cable and phone
2k - Nanny
1k - Private therapy for various family members
1k - Yard work, home maintenance, housekeeping, dry cleaning etc.

This adds up to 17k. I'm sure I am forgetting things. After all people do buy clothing, get hair cuts, go on vacations, buy birthday presents, eat out, sign their kids up for activities, donate money to charities and places of worship, and try to save for college and retirement funds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

That's not everyone.

No but I can see how that might be. If you make $450k at my firm you are likely in upper mgmt, many of whom also are on boards etc. wouldn't surprise me if there's greater expectations at thy level to donate funds etc

This. And you don't get to that level without playing the game. It's not cheap but it's not like it hurts us at all financially.

[Anonymous]

250k is middle class, so you have middle class expenditures.

[Anonymous]

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

We currently donate 7-10% of our gross income. Is that the same at that level? The statistics do not bear this out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have more obligations than you do. Charities, fundraisers, etc. the expectations are higher.

We currently donate 7-10% of our gross income. Is that the same at that level? The statistics do not bear this out.

How much in political contributions?

[Anonymous]

Anonymous wrote:Ok, here we go. Let's say 20k take-home each month.

5k - Mortgage with taxes, etc.
4k - Private school tuition for two children
1k - Student loan payment
1k - 2 car payments
1k - Groceries and other household items
1k - Utilities, including cable and phone
2k - Nanny
1k - Private therapy for various family members
1k - Yard work, home maintenance, housekeeping, dry cleaning etc.

This adds up to 17k. I'm sure I am forgetting things. After all people do buy clothing, get hair cuts, go on vacations, buy birthday presents, eat out, sign their kids up for activities, donate money to charities and places of worship, and try to save for college and retirement funds.

Why would someone making $450K still have student loans or any car loan? And why wouldn't they have insurance to cover all that rich-people therapy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok, here we go. Let's say 20k take-home each month.

5k - Mortgage with taxes, etc.
4k - Private school tuition for two children
1k - Student loan payment
1k - 2 car payments
1k - Groceries and other household items
1k - Utilities, including cable and phone
2k - Nanny
1k - Private therapy for various family members
1k - Yard work, home maintenance, housekeeping, dry cleaning etc.

This adds up to 17k. I'm sure I am forgetting things. After all people do buy clothing, get hair cuts, go on vacations, buy birthday presents, eat out, sign their kids up for activities, donate money to charities and places of worship, and try to save for college and retirement funds.

Why would someone making $450K still have student loans or any car loan? And why wouldn't they have insurance to cover all that rich-people therapy?

Do you have any idea how much student debt a graduating doctor or lawyer carries these days? Car notes because we always have to have newish cars, and don't you know that the best therapists never accept insurance? We pay out of pocket for ALL of our routine medical care.

[Anonymous]

A graduating doctor or lawyer doesn't make $450K. An established doctor or lawyer might. At which point, if they have half a brain, they would pay off their loans.

And if you're making $450k and can't pay cash for a car, you're doing something very wrong.

The healthcare I'll give you. Since you live in the US, where healthcare is reserved for the people who can pay out of pocket.