At what HHI did you stop feeling like more money = better life?

[Anonymous]

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Anonymous wrote:For me it wasnt about what I was making, but my net worth. I have a high income ($400K), but didnt relax about money till I could lose that income and still be fine.

I'm there.

Is your job unstable or something? I don’t see why you couldn’t “relax” about money until that point. We are at half that income but extremely relaxed about money because our jobs are stable and we know we could get new ones if needed.

Well, its sales, and there's a pandemic going on so there is more uncertainty than ever, but I'm fairly conservative in terms of risk as I'm a single parent. I felt a whole new level of security/quality of life when I was no longer just as wealthy as last months commission, but wealthy no matter what. Sounds like you are a two income household of lower earners. Its a different feeling being the sole provider, maybe thats why you dont relate?

Yes, we are a two income family of “lower earners.” But we are high NW and save a pretty big sum each year so maybe that’s why I “couldn’t relate” as well. 🙄

Maybe. I only saved enough to be financially independent at 45, but what do I know. I'm glad your jobs are so replaceable, since you'd need to quickly replace them if you lost them. Sounds like you are in a good spot, too, congrats!

Well, you are quite a bit older than I am, so I can’t really “relate.” 🤣

That makes sense. Glad I could give you something to aspire to as you hit your
40s!

Being alone and bragging about my ooodles of money on an anonymous mommy board?

Alone? I’m divorced not alone. I wasn’t bragging, I was answering the OPs question. You did the same- you just didn’t trigger anyone like I clearly triggered you- because you’re just middlin and no one cares.

Why are 30 something strivers with low incomes coming in and throwing shade? LOL

Ouch hit a nerve.

Sorry your personal life is a failure!

I mean you could always make more money but you can’t get back the years you spent on a failed marriage.

Totally. middle earning PP- “just” double your salary. And watch out for karma too. I’m sure your marriage is rock solid (you’re mid 30 you say? So probably not married more than a decade?) good luck. When you grow up, you’ll see what you have left to learn.

Stop responding to these people you sound tacky and petty AF!!

[Anonymous]

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Anonymous wrote:For me it wasnt about what I was making, but my net worth. I have a high income ($400K), but didnt relax about money till I could lose that income and still be fine.

I'm there.

Is your job unstable or something? I don’t see why you couldn’t “relax” about money until that point. We are at half that income but extremely relaxed about money because our jobs are stable and we know we could get new ones if needed.

Well, its sales, and there's a pandemic going on so there is more uncertainty than ever, but I'm fairly conservative in terms of risk as I'm a single parent. I felt a whole new level of security/quality of life when I was no longer just as wealthy as last months commission, but wealthy no matter what. Sounds like you are a two income household of lower earners. Its a different feeling being the sole provider, maybe thats why you dont relate?

Yes, we are a two income family of “lower earners.” But we are high NW and save a pretty big sum each year so maybe that’s why I “couldn’t relate” as well. 🙄

Maybe. I only saved enough to be financially independent at 45, but what do I know. I'm glad your jobs are so replaceable, since you'd need to quickly replace them if you lost them. Sounds like you are in a good spot, too, congrats!

Well, you are quite a bit older than I am, so I can’t really “relate.” 🤣

That makes sense. Glad I could give you something to aspire to as you hit your
40s!

Being alone and bragging about my ooodles of money on an anonymous mommy board?

Alone? I’m divorced not alone. I wasn’t bragging, I was answering the OPs question. You did the same- you just didn’t trigger anyone like I clearly triggered you- because you’re just middlin and no one cares.

Why are 30 something strivers with low incomes coming in and throwing shade? LOL

Ouch hit a nerve.

Sorry your personal life is a failure!

I mean you could always make more money but you can’t get back the years you spent on a failed marriage.

Totally. middle earning PP- “just” double your salary. And watch out for karma too. I’m sure your marriage is rock solid (you’re mid 30 you say? So probably not married more than a decade?) good luck. When you grow up, you’ll see what you have left to learn.

Ooh nooo! Being divorced and earning only double the average American salary!! Then according to DCUM she should jump off a bridge!

What a bunch of out of touch losers you all are. Talk about “strivers.”

[Anonymous]

We make ~$200K with 2 kids in DC suburb.

Sure, there are things that would be really nice, but I don't think I'd be a lot happier with a lot more money at this point. At $150K that wasn't true, but at $200K we are meeting basic financial obligations, saving enough that I'm no longer panic-y, and splurging on some nice to haves (skiing, small home improvements).

Sure, private school, private colleges, house with a big kitchen, fancy trips etc. would be nice, but would they really make me happier on a day to day basis and significantly improve my quality of life? Probably not much.

I grew up in a wealthier household and many of my siblings/friends from childhood have a lot more than I do but on balance I don't think they have better lives.

[Anonymous]

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Anonymous wrote:For me it wasnt about what I was making, but my net worth. I have a high income ($400K), but didnt relax about money till I could lose that income and still be fine.

I'm there.

Is your job unstable or something? I don’t see why you couldn’t “relax” about money until that point. We are at half that income but extremely relaxed about money because our jobs are stable and we know we could get new ones if needed.

Well, its sales, and there's a pandemic going on so there is more uncertainty than ever, but I'm fairly conservative in terms of risk as I'm a single parent. I felt a whole new level of security/quality of life when I was no longer just as wealthy as last months commission, but wealthy no matter what. Sounds like you are a two income household of lower earners. Its a different feeling being the sole provider, maybe thats why you dont relate?

Yes, we are a two income family of “lower earners.” But we are high NW and save a pretty big sum each year so maybe that’s why I “couldn’t relate” as well. 🙄

Maybe. I only saved enough to be financially independent at 45, but what do I know. I'm glad your jobs are so replaceable, since you'd need to quickly replace them if you lost them. Sounds like you are in a good spot, too, congrats!

Well, you are quite a bit older than I am, so I can’t really “relate.” 🤣

That makes sense. Glad I could give you something to aspire to as you hit your
40s!

Being alone and bragging about my ooodles of money on an anonymous mommy board?

NP-wait, aren’t you the one bragging about being “high nw?” And implying PP is a sad old person bc she’s 45 and single? You sound like a complete bitch and hypocrite.

[Anonymous]

Anonymous wrote:I felt like there was a huge jump in comfort/lifestyle from the 150k range up to the 250k range.

We've kind of hit a plateau at 250k and have a very nice life.

However, here is what we cannot afford on that salary:

Luxury cars, or even "top trim" of Honda/Toyota
Staying at "nice" hotels when we travel
Saving for more than state school (like private college or grad school)
Home renovations - our home is 28 years old and still has original kitchens and bathrooms. I'd like to remodel those but husband doesn't feel we can without compromising savings goals

Interesting. Our HHI is 150K and we renovated our kitchen and bathrooms. We have 3 kids and college tuition is covered as part of my husband’s job (they get a choice of about 30 schools which we’re happy with — for example sending our kids to UMD would be significantly more expensive than Georgetown or Middlebury!)

We max out retirement every year and we save a tiny bit for our kids college since we will be responsible for living expenses, but it’s mostly to take advantage of the 529 benefits instead of paying it directly from salary later on. We have a liquid rainy day savings for 15 months (which would realistically last longer since we would cut back on our regular expenses if we needed to use it.)

We can’t afford nice cars (obviously) but I would be driving a minivan regardless. I do wish we had more money for nice vacations and hotels. I think if our HHI was 250 we would definitely be staying in “nice” hotels and going on nicer trips. I feel financially secure but there are definitely some extras I would like to have if our HHI increased. Better vacations would definitely be a “noticeable” quality of life improvement.

[Anonymous]

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Anonymous wrote:For me it wasnt about what I was making, but my net worth. I have a high income ($400K), but didnt relax about money till I could lose that income and still be fine.

I'm there.

Is your job unstable or something? I don’t see why you couldn’t “relax” about money until that point. We are at half that income but extremely relaxed about money because our jobs are stable and we know we could get new ones if needed.

Well, its sales, and there's a pandemic going on so there is more uncertainty than ever, but I'm fairly conservative in terms of risk as I'm a single parent. I felt a whole new level of security/quality of life when I was no longer just as wealthy as last months commission, but wealthy no matter what. Sounds like you are a two income household of lower earners. Its a different feeling being the sole provider, maybe thats why you dont relate?

Yes, we are a two income family of “lower earners.” But we are high NW and save a pretty big sum each year so maybe that’s why I “couldn’t relate” as well. 🙄

Maybe. I only saved enough to be financially independent at 45, but what do I know. I'm glad your jobs are so replaceable, since you'd need to quickly replace them if you lost them. Sounds like you are in a good spot, too, congrats!

Well, you are quite a bit older than I am, so I can’t really “relate.” 🤣

That makes sense. Glad I could give you something to aspire to as you hit your
40s!

Being alone and bragging about my ooodles of money on an anonymous mommy board?

Alone? I’m divorced not alone. I wasn’t bragging, I was answering the OPs question. You did the same- you just didn’t trigger anyone like I clearly triggered you- because you’re just middlin and no one cares.

Why are 30 something strivers with low incomes coming in and throwing shade? LOL

Ouch hit a nerve.

Sorry your personal life is a failure!

I mean you could always make more money but you can’t get back the years you spent on a failed marriage.

Totally. middle earning PP- “just” double your salary. And watch out for karma too. I’m sure your marriage is rock solid (you’re mid 30 you say? So probably not married more than a decade?) good luck. When you grow up, you’ll see what you have left to learn.

Stop responding to these people you sound tacky and petty AF!!

I see why you are divorced.

[Anonymous]

My old CEO his father was in a concentration camp and they lost everything in WWII

He was always cheap and worried about money. I worked with him 10 years. Always drank the coffee at work, ate breakfast at home. Lunch was small salad and glass of water. Shopped at Kohl’s, living on a middle class neighborhood and kids went instate schools.

His pay was 5-7 million a year and we did an IPO, then sold company to a new company where he stayed on and in end we got sold again. Had big change of control featured in contract.

He made between 2000 and 2017 around 150 million. He invested it all and I am sure he is near one billion. He is still cheap and not rich in his mind

[Anonymous]

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Anonymous wrote:950k finally got me out of my 1,300 square foot starter home and buying pizza without a coupon

Thanks for the laugh. These responses are insane.

I love how everyone on DCUM earns a minimum of $400K, yet has plenty of time to be posting on DCUM all day. Shows you how capitalism rewards all the wrong jobs.

There is so much research showing that long hours hurt creativity and productivity. I'm not sure why only busy-ness should get paid, and having free time means capitalism is doing something wrong.

And I say that as a super pinko lefty liberal who actively works against shareholder payouts at the expense of rank-and-file employees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is there really a point where you can't enjoy more money? Look at Dan Snyder's yacht, do you think he doesn't enjoy flying to the south of France and sailing the Mediterranean?

yeah I'm not really understanding all these replies saying they don't think more money would make their lives nicer.

Back before Covid hit, we went on an amazing trip to Belize and stayed in a high end eco resort. It was effing cool to see monkeys hanging out outside our treehouse plus all the cool experiences like cave tubing to see Mayan artifacts, etc. It cost around 20k for the week for 5 people all in.

Yes this trip made my life better! lol. Ideally I'd take 4-5 such trips a year. Plus having a nice 4 bedroom house in a "good" school district, nice luxury cars, weekend ski trips, activities and sleepaway camp for the kids, etc.

Who doesn't want the whole 9 yards?

All that said, it's the quality of your relationships and your health that is the most important things. However, assuming those things are good, then yes money can give you really cool experiences.

Yeah, a really nice home with a pool and being able to decorate as you wish (nothing even extravagant or show-offy). Plus travelling as per the PP.
All takes SO much money!

[Anonymous]

We make around $220k a year with 1 kid. For us it wasn’t so much our income, but paying off various debts and increasing our cash flow. We have two big monthly expenses: $2,300 mortgage and $1,300 childcare. Aside from that we get to control where our money goes, and I feel that, within reason, we can have whatever we want so long as we plan for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is there really a point where you can't enjoy more money? Look at Dan Snyder's yacht, do you think he doesn't enjoy flying to the south of France and sailing the Mediterranean?

yeah I'm not really understanding all these replies saying they don't think more money would make their lives nicer.

Back before Covid hit, we went on an amazing trip to Belize and stayed in a high end eco resort. It was effing cool to see monkeys hanging out outside our treehouse plus all the cool experiences like cave tubing to see Mayan artifacts, etc. It cost around 20k for the week for 5 people all in.

Yes this trip made my life better! lol. Ideally I'd take 4-5 such trips a year. Plus having a nice 4 bedroom house in a "good" school district, nice luxury cars, weekend ski trips, activities and sleepaway camp for the kids, etc.

Who doesn't want the whole 9 yards?

All that said, it's the quality of your relationships and your health that is the most important things. However, assuming those things are good, then yes money can give you really cool experiences.

Yeah, a really nice home with a pool and being able to decorate as you wish (nothing even extravagant or show-offy). Plus travelling as per the PP.
All takes SO much money!

Let’s be real, in a LCOL area this is attainable without a huge HHI. In our area it’s attainable if you are resourceful and willing to compromise. Them’s the breaks I guess!

[Anonymous]

I don’t think I’ll ever feel like we have enough because I’m late 50s and have not saved enough for retirement. So if and when our salaries increase I feel like most of it should go towards retirement and won’t go to a “better life.” I’m not complaining and I take responsibility for it.

I honestly don’t know if I’d have “a better life” if I had quite a bit more money. My life is pretty good now ($260,000) because I have a great marriage, kids I adore, hobbies I love, job that is usually good. A maid/housekeeper, vacations, helping to pay kids college debt, home decorating, personal trainer and a few other things would temporarily make my life easier and/or enriched, but my self esteem, general life outlook, friendships, social life, and feeling excited or down won’t change.

[Anonymous]

HHI at 400K now. We have. nice house, great DC neighborhood, healthy kids, fairly big mortgage, public schools. We spend a lot on kids activities and things we like such as theater and sports season tickets. We are saving/planning to afford private college for our 2 kids. We are on track for good retirement savings (both pension and retirement investments)

I would like to be able to afford private school and more travel than we do. We make choices and I am not complaining at all, I realize I live a lovely life and am lucky, but I am not going to say I would not thoroughly enjoy more luxuries and exotic experiences.

[Anonymous]

Once we were at $150 and bought a home (with loan and mortgage of course) I felt good.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$200k feels like plenty with 1 child in $20k private school. We have a lovely house, 2 cars, can take a $10k vacation in normal years, and fully fund retirement and 529s. Anything above this would just increase the quality of what we already have, but not provide more than we have. We could stay in nice hotels instead of air bnbs, or buy the audi instead of the ford, but it would not significantly change anything.

How much is your mortgage?

$2600/month