Those of you making 1 mil-1.5 mil a year

[Anonymous]

Husband's W2 showed earnings of $1.3M last year. Our lifestyle hasn't changed in the last 20 years, when he was making $250K a year. We live in the same modest home, drive Japanese cars (one is 10 years old), and travel economy class. We spend our money mainly on private school, college tuition, tutoring (test prep), and charitable donations. Our net worth is $12M as of today.

The main difference I notice is I don't flinch when we have some unexpected expense now. Once our youngest goes to college, we will probably start traveling and spending some of that money on ourselves.

[Anonymous]

Anonymous wrote:Husband's W2 showed earnings of $1.3M last year. Our lifestyle hasn't changed in the last 20 years, when he was making $250K a year. We live in the same modest home, drive Japanese cars (one is 10 years old), and travel economy class. We spend our money mainly on private school, college tuition, tutoring (test prep), and charitable donations. Our net worth is $12M as of today.

The main difference I notice is I don't flinch when we have some unexpected expense now. Once our youngest goes to college, we will probably start traveling and spending some of that money on ourselves.

My parents are like this - still trying to get them to splurge on Economy Plus haha or early boarding or literally anything to make travel more tolerable.

[Anonymous]

VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

[Anonymous]

Travel economy but go to great places at least 3x/yr, kids in public, no day to day budget but daily lifestyle hasn't changed since making a third when we did budget, give generously to the schools. Kids don't seem to have expensive tastes either.

[Anonymous]

I made over $3.5M last year as a PE investor and I still budget because I never know when the good times will end. I do travel often to off-the-beaten path places. I belong to an aircraft coop because I like flying and it’s much cheaper than owning outright. Both kids are in college right now so living the empty nester life.

[Anonymous]

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

Important highlight: “I do not have kids yet” — kids are more expensive than you can logically fathom.

We make 750k and not living differently from when we made 350k (only 1 child).

[Anonymous]

Anonymous wrote:

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

Important highlight: “I do not have kids yet” — kids are more expensive than you can logically fathom.

We make 750k and not living differently from when we made 350k (only 1 child).

Totally agree. We are at around $1.4m, and with three kids I am saving WAY less per year than when I made $300-400k as a single lady. Maybe it is that our income is now mostly K-1 and gets taxed under AMT plus >5 states, but it feels insane.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

Important highlight: “I do not have kids yet” — kids are more expensive than you can logically fathom.

We make 750k and not living differently from when we made 350k (only 1 child).

Totally agree. We are at around $1.4m, and with three kids I am saving WAY less per year than when I made $300-400k as a single lady. Maybe it is that our income is now mostly K-1 and gets taxed under AMT plus >5 states, but it feels insane.

Sorry - I was wrong when I said less savings. I am not saving less because we now put 36k/year into 529s and now max out backdoor IRAs and employee and employer retirement contributions. My lifestyle is way less glamorous than as a single lady on a much lower income. I used to travel abroad several times a year and buy designer shoes/purses, and now I am lucky to get one beach trip and rarely buy new things for myself.

[Anonymous]

We don't really budget. We both came from modest backgrounds (parents were government workers), so we don't spend on jewelry or fancy clothes as it was never our thing. However, our kids are in private, we fly business class, and we drive luxury cars. I was just reviewing our taxes and it looks like we'll have paid about 500k in taxes to the IRS this last year.

[Anonymous]

We are in this range, although only recently. Up until last year, we were closer to $800-$1M for HHI. No family money. Two homes. We are in our early 40s.

We don't budget, but the slow life style creep means that I still worry about bug purchases. And, because one of us (me) is in a sales role, you never know what comp will look like year to year. But I don't worry about day to day purchases, spending money on household help, sending the kids to private school, etc. We always fly commercial (coach) but do take multiple nice vacations a year.

[Anonymous]

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

VP in what department?
I agree. I do think this is a dcum thing. The people I know IRL who have this kind of money have second homes, travel, have nice cars.

[Anonymous]

Anonymous wrote:We are in this range, although only recently. Up until last year, we were closer to $800-$1M for HHI. No family money. Two homes. We are in our early 40s.

We don't budget, but the slow life style creep means that I still worry about bug purchases. And, because one of us (me) is in a sales role, you never know what comp will look like year to year. But I don't worry about day to day purchases, spending money on household help, sending the kids to private school, etc. We always fly commercial (coach) but do take multiple nice vacations a year.

Just curious- are you in leadership or account exec? What is your salary?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are in this range, although only recently. Up until last year, we were closer to $800-$1M for HHI. No family money. Two homes. We are in our early 40s.

We don't budget, but the slow life style creep means that I still worry about bug purchases. And, because one of us (me) is in a sales role, you never know what comp will look like year to year. But I don't worry about day to day purchases, spending money on household help, sending the kids to private school, etc. We always fly commercial (coach) but do take multiple nice vacations a year.

Just curious- are you in leadership or account exec? What is your salary?

I don't have a salary. I am 100% commission based. Recruiting of very high end positions. I made about $800K last year and my husband makes about the same (he's in a different field).

[Anonymous]

Anonymous wrote:

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

VP in what department?
I agree. I do think this is a dcum thing. The people I know IRL who have this kind of money have second homes, travel, have nice cars.

Sales, 600k salary and then commission.
So I make 1.1-1.3. I probably spend 50k a year on travel. My wife and i don’t do economy anymore. Modest $2 million home

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:VP at a very large company this year will be my first year bringing in 1.2 and it will continue for hopefully next 5-7 years. I do not have kids yet I am in my low thirties. I’m kind of surprised people in this category aren’t living larger. Doesn’t sound much different from when I made 400k unfortunately.

VP in what department?
I agree. I do think this is a dcum thing. The people I know IRL who have this kind of money have second homes, travel, have nice cars.

Sales, 600k salary and then commission.
So I make 1.1-1.3. I probably spend 50k a year on travel. My wife and i don’t do economy anymore. Modest $2 million home

Nice! Age? Industry?
My DH has the same role. He’s 20 and OTE is $450 plus options. I was wondering how long it would take to get to that level making $600 base.