lol such a waste of money My HHI is in the $100 M range we don’t do this We travel way more than you Have access to a private jet and still think your post is cringy But hey free country |
We are at 425 and we just paid four our first business class upgrade because it was $500 each red eye to Europe. I'm open to it depending on cost |
This. We know we have saved more than enough and now we can spend frivolously and for comfort. |
ok |
$100M HHI and flying economy? Lol Enjoy your cramped economy class seats. |
This^^^ My wife travels for work a lot. They have a $6K limit for trips (execs are allowed to fly business if keeping below this). This year it is difficult to plan a trip and do just that, but it is possible with switching up airports/where you connect. |
We had income of $850K and NW of $12M+ and typically flew economy plus and hoped for upgrades. 50% of that goes to taxes (it's W2 income, not much other choice). Asia trips are always business, but Europe is a 6-8 hour flight and not worth extra $4-5K for each of us. If we could get it for $1K we paid for upgrade. Now that we are similar income and NW over $30M, we pay for business for us. The kids (teens and college) go in economy plus or premium select. Sure we could pay for them to be in business, but I was over 45 before we started doing that. I was 30 before I went to Europe---they will be find in EP/PS and enjoy their multiple trips to Europe before they are 20. |
+1 To the 575K HHI and 7.5MNW poster, what ETF are you referring to? TIA |
Net worth $20M, and recently started flying only Business/First. It's not a good value by any means, but is the only way short of flying privately to reduce the stress and aggravation of air travel, which otherwise is a seemingly never-ending race to the bottom by the airlines in terms of comfort and convenience. We only fly a few times a year, so accept the admittedly ridiculous cost. |
I don't agree. Most US airlines have 3 classes for domestic flights. Regular economy, extra legroom economy, and domestic business (same as premium economy on long haul flights). Long haul flights add the option of lie flat business class. Seems like a pretty reasonable set of options/levels. Most people are understandably price sensitive so they opt for the cheapest option. The major airlines are just reacting to that demand. |
where do you live? For example, in Virginia, the max increment al is 5.75% add that to the max federal incremental of 37% and you get 42.75% and that is the max, actual would be lower. Where do you live where the actual income tax is 50%? |
Agreed no where in the US are you paying 50% of your W2 income to taxes. It is higher than the highest bracket. |
HHI: $800K
I own a plane and fly myself whenever possible. I fly down to Bahamas/Caribbean all the time and avoid all the airport customs and security lines. Can’t stand flying commercially even in BC or FC. When I have to fly commercially I try to fly BC whenever possible. |
In DC increment is 10.75, so you end up very close to half. |
Interesting question bc you only asked about income level. I think it’s asset level. You didn’t ask that so I’ll answer your question we do, with an avg income of around $500,000 (retired). |