What HHI is indisputably RICH in a HCOL area?

[Anonymous]

Anonymous wrote:5m. 1m is undoubtedly rich but it’s 1st class rich, not private jet rich.

No, you don’t necessarily fly first class with a $1m HHI.

I remember writing on the travel forum that we usually fly economy plus at $1m. HHI is now over $2m and we only recently started upgrading to business class and that isn’t even always.

[Anonymous]

$5m

[Anonymous]

Anonymous wrote:

Anonymous wrote:5m. 1m is undoubtedly rich but it’s 1st class rich, not private jet rich.

No, you don’t necessarily fly first class with a $1m HHI.

I remember writing on the travel forum that we usually fly economy plus at $1m. HHI is now over $2m and we only recently started upgrading to business class and that isn’t even always.

+1. Hhi closer to $2m, and three first class tickets to Asia for a one week trip is $13k each so almost $40k. And we porbably do another trip to Europe in the same year where first class is $10k each. And then you probably fly two other times a year domestically to see family for a weekend or whatever - at $1000 a ticket times three. If you make $1m, after tax is around $600k, you can’t be spending $80k a year on first class travel. I said above and I know people eye roll but this is my point about incomes at $1-2m does not just let you spend what you want to spend. You stil need to be cautious and pick maybe one thing that you spend money on but spend regular style on other stuff. So maybe you send two kids to private school. But then it’s not prudent to also have two first class vacations a year for the family of four. Or maybe you do the fancy vacations, but that means you can’t also be buying luxury cars every few years. $1-2m gives you a lovely life without concern and a likely stable and comfortable retirement, but only if you’re still mindful about what you spend.

[Anonymous]

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

No. I know because my HHI is 1.3M

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

No. I know because my HHI is 1.3M

Are you the pp? How much do you think you’d need for that lifestyle you described?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

Sure if you don’t save anything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

Sure if you don’t save anything.

Np and our hhi is $2m and agree that I guess we could pay for all this stuff but we’d have nothing left when done. Our lifestyle looks pretty standard UMC and we don’t live in the NE. That allows us to save a lot, take nice vacations, have nice cars but keep them for ten years, not worry about money.

[Anonymous]

It’s all about asset to debt ratio, not income. I would say a net worth of $5mil liquid with substantial investments ($10mil+).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like NYC or SF. Not UMC but actually rich. Able to afford just about anything except a personal private jet (but maybe a jet share) type of rich.

I live in CT, right outside NYC, and my gut was $1.3/1.4m+ and this survey of what 1% means in each state totally validates this number. In 2024, to be in the 1% in CT you needed to make $1.193/1.2m+. Because there is such a large concentration of wealth in the area where I live even a small house (1700 sqft) with a postage stamp backyard in a decent location sells for $1.8m+ and if you want a house with 2500 sqft you’ll need $2.7m+. If you are rich here your house is a minimum of $4m. And you will fill your giant closet with lots of designer handbags and clothes. Your hair will look amazing, you will start with subtle Botox in your early 30s or late 20s. And you probably will be on ozempic if you were not very thin already.

The private school my children attend got so much feedback from freaked out parents whose kids were on FA/not insanely wealthy that they put a policy in place to limit all class parent parties at the beginning of the year to “modest” houses, which is to say houses can’t be worth more than $6m. The first number must be a 5. Lots of very expensive camps and activities. Summer camps for 5 year olds that cost $1K a week are shockingly common. And if your child is struggling aka learning something new you will without question get them a tutor or coach to help. A mom in my daughter’s K class asked other moms if we knew of a coach who could help her daughter with lacrosse because at 6 she had just started a lacrosse program and she was confused at the first practice and all of the other 6 year olds “had been playing for multiple seasons” so her daughter needed to catch up. The summer before my daughter started PreK a mother told me that another mom in our daughter’s grade had hired a hand writing tutor to work with her daughter. This was to prepare for PreK.

Public schools are good but private is better and that will be $50K annually starting in PreK. Most people drive Porsches, BMWs, or Range Rovers. Suburbans and Teslas are ok though. Vacations are mostly family homes, Hamptons, Grand Cayman, Europe, or Nantucket. Someone I know rents a farm in Vermont for two weeks at Christmas. A lot of people do a jet share or fly semi-private or business if international.

Household staff is the norm. Lots of live in nannies, multiple nannies and it is very common to have housecleaning 2x a week for eight hours a day on each days. Imagine having your house cleaned for eight hours on Monday and then again for eight hours on Thursday. I didn’t have a night nurse with any of my kids and couldn’t bond with any new moms over sleep deprivation because it’s normal to have a night nanny for the first six months. Everyone else was really well rested. Yardwork is obviously outsourced.

Can people really afford the lifestyle you described (5mm home, tutors, housekeeper, jetshare or business international travel, expensive car, expensive wardrobe) on 1.2mm?

Sure if you don’t save anything.

Np and our hhi is $2m and agree that I guess we could pay for all this stuff but we’d have nothing left when done. Our lifestyle looks pretty standard UMC and we don’t live in the NE. That allows us to save a lot, take nice vacations, have nice cars but keep them for ten years, not worry about money.

HHI 2m is much higher than HHI of 1.2 or 1.3. it's in fact 50 to 60% more. so no, you cannot afford what pp said about the 5m house, live in nanny, private school, business class trips, with just 1.2 or 1.3m.

[Anonymous]

if you have to ask, then you are poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:5m. 1m is undoubtedly rich but it’s 1st class rich, not private jet rich.

No, you don’t necessarily fly first class with a $1m HHI.

I remember writing on the travel forum that we usually fly economy plus at $1m. HHI is now over $2m and we only recently started upgrading to business class and that isn’t even always.

$1M HHI with a net worth of "only $10M" I wouldn't fly business much. But $1M with a net worth of $25M+, I'd start flying it most of time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:5m. 1m is undoubtedly rich but it’s 1st class rich, not private jet rich.

No, you don’t necessarily fly first class with a $1m HHI.

I remember writing on the travel forum that we usually fly economy plus at $1m. HHI is now over $2m and we only recently started upgrading to business class and that isn’t even always.

+1. HHI $1.2M and I have never flown first class in my life.

[Anonymous]

If you can’t live off your wealth, you aren’t rich. Income shouldn’t matter.