There is definitely something you are leaving out. Where did you get the downpayment for your house? How much was it? Do you have kids? Do they have college funds and who is funding it? You either have family help or had some sort of windfall/exit event you are leaving out. |
Yes, I book multiple flights a month and whether I’m booking a week in advance or 6 months in advance - time of year and time of flight matter way more. Check out flying to Jackson, Eagle, or Bozeman in on Sat/out on Sat any week in Jan/Feb. They’ll stay the same as they are now until those planes are full. |
If people think that something is not worth the price they are charging they won’t buy it no matter what their income is. Not everyone cares where they sit. |
Not satire. During the early days of the pandemic we bought 50,000 shares of VYMI @ $45 per share. Wanted to simultaneously take advantage of low stock prices and generate a steady stream of income to counter once per year unpredictable bonuses and to pay for things like fine dining, business class airfare, luxury hotels, etc…. Now at $66 / share, so up almost 50% in 4 years. Plus we’ve generated about $550K in passive income in four years, averaging about $34K each quarter. Not bad. Otherwise we have another $750K in home equity, $3M in retirement savings (mostly VTI / VUG), and another $500K in 529/HSA/HYSA savings. We mostly bought a dividend ETF just because the stock market had tanked and it was on sale and we wanted to diversify. |
+1 No way on 250K can you have everything listed above, especially if 1-2+ kids and college funds. And I'd argue, if you don't have fully funded college funds, then you probably shouldn't be flying business/first. But that's just me, I wouldn't complain about being a "donut hole" family who flies first/business. |
So net ~$200k less than if you had put $2.25 million in s&p500 4 years ago. It has gone up 81% since April 21, 2020. |
Plus if HHI of $1M, that means about $500K after taxes. Then you have retirement savings, house (and all that goes with it) and cars. Possibly private school for the kids and definately college savings for the kids. Once you factor all that in, spending an extra $10-15K for business/first for a trip for 4-5 people to Europe is not worth it. It's another entire vacation somewhere stateside (with reaonsonble flights). I'm worth 30M+ and just booked economy plus for a 1.5 hour flight, because I'm not paying an extra $200+ for first class. I'll sit in economy plus if my automatic upgrade doesn't materialize. Sure I "could afford it". But if I do that for everything "I could afford" soon I'm spending way more than I want to. So despite having a high NW, I still value what I spend my money on and choose not to waste it. |
Agreed. I’m the PP way upthread with the $200K HHI. We have two kids and a mortgage in DC and there’s no way we’re willing to pay for expensive plane fares or cars. (Ours are at 100K miles but we won’t replace them anytime soon). Maybe I just don’t know what I’m missing (travel a lot for work but I’m a fed so never in business class) but I don’t think so. |
90% of the figures in this thread are LARPs |
What’s a LARP? |
And the S&P 500 is trading at overinflated all-time highs, and you only realize gains when selling, and in October 2022 VYMI was much more favorable than the S&P 500, and PP still has about 40% of total NW in total stock market and high growth (VUG). So, what’s your point? |
Yeah this person is a moron |
+1. I was searching for a way to say this and you got it. This is exactly how we feel. Our trips are mainly domestic and 5 hours or less - always economy on those. Will sometimes do business or PE on trips to Europe if the deal is right. But usually only the overnight flight there. Usually just economy coming home. We pay almost entirely in points though. |
Multiple people asked what the ETF was, seemingly under the assumption that it was something special that produced outsized returns. I will say that putting a lot of money in the market generally, in spring 2020 was definitely a smart move. But the special sauce here was having $2.25 million in cash free to invest, not what stocks were chosen. |
So what do you splurge on? It’s ok to spend some money, not every decision has to maximize the financial outcome. Some like a weekly massage, others like to dine out, some like to upgrade when they are on vacation. You don’t have to do it all, but giving yourself permission to pamper a bit. |