What HHI is "success" to you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Success? Living a stress free life filled with activities, people, and beautiful things for me. I enjoy spending time on hobbies, of which I have many. Love my kids and like spending time with them, but it's also stressful. Like beautiful things, which bring me a lot of joy to look at and be around. That's everything from good landscaping, beautiful old trees, aesthetically pleasing furniture, etc. Would love to travel extensively with my husband.

What does this mean in terms of the money that is involved? Well north of $500k in this area. No doubt. You'd need a good piece of property, money to furnish it, money to account for the time that you're not working because you're doing other things you enjoy/with your kids, and hiring ample help to manage the day-to-day things. A full time housekeeper, for one.

No use being green with envy at those who have more than you, no use denying the obvious. Money buys you time. Money buys you opportunities. Jealous people claim that it's all to show off to others. Maybe for some, but not here. Our HHI is not anywhere close to $500k but I'd sure like to get there someday.

I don't know. If anything, this thread kind of shows that the more money you get, the more you want. I see a lot of people on here who can't be content with what most Americans and certainly the rest of the world would consider a very high income and a very elite lifestyle.

My relatives from a developing world came to visit me recently. My uncle remarked that while we have literally everything we need and want, what I really need is more help around the house. And he is absolutely right. But that shiznit is expensive around here. The big thing that is different about the US (and I guess most of the developed West?) is the cost of hiring people to work for you. You can live a much, much more luxurious and stress free (but perhaps more materially poor) life somewhere in South America or Asia with a fraction of what you make in DC because you can afford to hire 2 housekeepers, a cook, and a nanny with very little money. People say once you've experienced that it makes such a huge difference you'd never want to go back. A lot of average Americans retire and move to a developing country for just this reason - and live like kings and queens. I have a rich relative down south with permanent full time help but that is $60k a year - so budget $100k off your HHI for help. How many people can afford that?

You realize you're lamenting the lack of an exploitable underclass, right?

Seriously. That post made me feel depressed. The way people treat this "help" in these countries is dreadful. I know a lot of people that have been posted to Singapore. A lot of the nannies and housekeepers live in rooms the size of cupboards. Many are away from their own young children for very long stretches to look after expats children.

So what's the problem

[Anonymous]

Whatever HHI is needed to live solely off Passive income.

That means you have a ton of money in money generating assets (intellectual property, real estate, stock dividends, bonds etc), and not from wage/day to day business income. This translates to a net worth of somewhere from 2-10 million to live extremely comfortably if your wages were to disappear immediately.

Comparing HHI is a WAGE SLAVE mentality. Think of an owners mentality instead.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH and I are both teachers, and the majority of our students have parents with very high incomes.

Guess we're just "the help" and not successful.

Ignore these pps, who are probably frankly bored SAHMs with Biglaw partner husbands they never see. "Household" income my ass.

I laughed . Seriously though, more like Brendan's income to finance Megan's lifestyle . A sucker is born everyday .

My father used to say (back in the day, of course) - "a woman wants a man who can give her the lifestyle to which she would like to become accustomed."

Today, the genders could be reversed (or the same), but the principle is no different - some people go through life looking for a meal ticket. You would do well to avoid such people. You're much better off marrying someone who is as accomplished as you are: http://www.financialsamurai.com/marrying-your-equal-is-better-than-marrying-rich/

[Anonymous]

Anonymous wrote:Whatever HHI is needed to live solely off Passive income.

That means you have a ton of money in money generating assets (intellectual property, real estate, stock dividends, bonds etc), and not from wage/day to day business income. This translates to a net worth of somewhere from 2-10 million to live extremely comfortably if your wages were to disappear immediately.

Comparing HHI is a WAGE SLAVE mentality. Think of an owners mentality instead.

Passive income is critical. The hardest money you'll ever earn will be by the sweat of your own brow. Leveraging assets and people is the way to scale up your income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Success? Living a stress free life filled with activities, people, and beautiful things for me. I enjoy spending time on hobbies, of which I have many. Love my kids and like spending time with them, but it's also stressful. Like beautiful things, which bring me a lot of joy to look at and be around. That's everything from good landscaping, beautiful old trees, aesthetically pleasing furniture, etc. Would love to travel extensively with my husband.

What does this mean in terms of the money that is involved? Well north of $500k in this area. No doubt. You'd need a good piece of property, money to furnish it, money to account for the time that you're not working because you're doing other things you enjoy/with your kids, and hiring ample help to manage the day-to-day things. A full time housekeeper, for one.

No use being green with envy at those who have more than you, no use denying the obvious. Money buys you time. Money buys you opportunities. Jealous people claim that it's all to show off to others. Maybe for some, but not here. Our HHI is not anywhere close to $500k but I'd sure like to get there someday.

I don't know. If anything, this thread kind of shows that the more money you get, the more you want. I see a lot of people on here who can't be content with what most Americans and certainly the rest of the world would consider a very high income and a very elite lifestyle.

My relatives from a developing world came to visit me recently. My uncle remarked that while we have literally everything we need and want, what I really need is more help around the house. And he is absolutely right. But that shiznit is expensive around here. The big thing that is different about the US (and I guess most of the developed West?) is the cost of hiring people to work for you. You can live a much, much more luxurious and stress free (but perhaps more materially poor) life somewhere in South America or Asia with a fraction of what you make in DC because you can afford to hire 2 housekeepers, a cook, and a nanny with very little money. People say once you've experienced that it makes such a huge difference you'd never want to go back. A lot of average Americans retire and move to a developing country for just this reason - and live like kings and queens. I have a rich relative down south with permanent full time help but that is $60k a year - so budget $100k off your HHI for help. How many people can afford that?

You realize you're lamenting the lack of an exploitable underclass, right?

But, without the ability to hire multiple servants for miniscule wages, I don't feel successful! It's not enough that I should succeed, others must fail.

I was referring to OP's question on "success." Being able to hire enough help in THIS country, at the wages required of this area, I feel, would be a sizable contribution to my quality of life.

Your piss poor reading comprehension doesn't correlate with your condescendingly high opinion of yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Success? Living a stress free life filled with activities, people, and beautiful things for me. I enjoy spending time on hobbies, of which I have many. Love my kids and like spending time with them, but it's also stressful. Like beautiful things, which bring me a lot of joy to look at and be around. That's everything from good landscaping, beautiful old trees, aesthetically pleasing furniture, etc. Would love to travel extensively with my husband.

What does this mean in terms of the money that is involved? Well north of $500k in this area. No doubt. You'd need a good piece of property, money to furnish it, money to account for the time that you're not working because you're doing other things you enjoy/with your kids, and hiring ample help to manage the day-to-day things. A full time housekeeper, for one.

No use being green with envy at those who have more than you, no use denying the obvious. Money buys you time. Money buys you opportunities. Jealous people claim that it's all to show off to others. Maybe for some, but not here. Our HHI is not anywhere close to $500k but I'd sure like to get there someday.

I don't know. If anything, this thread kind of shows that the more money you get, the more you want. I see a lot of people on here who can't be content with what most Americans and certainly the rest of the world would consider a very high income and a very elite lifestyle.

My relatives from a developing world came to visit me recently. My uncle remarked that while we have literally everything we need and want, what I really need is more help around the house. And he is absolutely right. But that shiznit is expensive around here. The big thing that is different about the US (and I guess most of the developed West?) is the cost of hiring people to work for you. You can live a much, much more luxurious and stress free (but perhaps more materially poor) life somewhere in South America or Asia with a fraction of what you make in DC because you can afford to hire 2 housekeepers, a cook, and a nanny with very little money. People say once you've experienced that it makes such a huge difference you'd never want to go back. A lot of average Americans retire and move to a developing country for just this reason - and live like kings and queens. I have a rich relative down south with permanent full time help but that is $60k a year - so budget $100k off your HHI for help. How many people can afford that?

You realize you're lamenting the lack of an exploitable underclass, right?

Lamenting? Nah. Just describing how it is. And plenty of those "underclass" workers are more than happy to work for expats. You got a problem with that? Throw out your iPhone, it's made by exploited unclass. Get rid of 99% of your wardrobe. Even the crap of which your flipped Colonial was constructed? Underpaid, dangerous working conditions. Get rid of it. No? Then sit your spoiled, hypocritical self down.

[Anonymous]

For me what I wanted was:

Nice house, 4-5 bedrooms, at least 3000 sf
3-4 kids
College funds for each kid so they don't have to take out loans
Activities for each kid
SAHM
Vacations: spending probably 40-50k a year
No worries about retirement so saving 100k a year at least

It takes an income of upper 6 figures to support this in the DC area

[Anonymous]

Anonymous wrote:For me what I wanted was:

Nice house, 4-5 bedrooms, at least 3000 sf
3-4 kids
College funds for each kid so they don't have to take out loans
Activities for each kid
SAHM
Vacations: spending probably 40-50k a year
No worries about retirement so saving 100k a year at least

It takes an income of upper 6 figures to support this in the DC area

are you a man or woman?

[Anonymous]

For some people, as long as their neighbor in Chevy Chase makes more, what they're making isn't "enough."