What HHI is "success" to you?

[Anonymous]

No level, just what I do with what I do earn, that is how I define my financial success.

[Anonymous]

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 .

[Anonymous]

Anonymous wrote:500k is a lot no matter the locale.

Go say to those living in Manhattan or San Francisco . You must come from flyover country

[Anonymous]

Anonymous wrote:

Anonymous wrote:500k is a lot no matter the locale.

Go say to those living in Manhattan or San Francisco . You must come from flyover country

500k puts you in the top 5% of HHI in Manhattan. Hardly middle class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:500k is a lot no matter the locale.

Go say to those living in Manhattan or San Francisco . You must come from flyover country

500k puts you in the top 5% of HHI in Manhattan. Hardly middle class.

+1

But these people only want a top-of-the-line lifestyle. They wouldn't live in Queens (or Brooklyn before it gentrified) and use public schools.

[Anonymous]

In my field, there's very little chance of even reaching $100,000. Therefore, I can't possibly measure my (career) success in terms of how much money I make. I feel successful when I'm recognized as an expert in my field, and have done things that make a difference to people. (And I generally have a good time doing it.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no HHI that is "success" to me.

Successful marriage, maybe well-adjusted children. Positive relationships with friends and family. Being in a position to give back to my community (and following through on that).

THAT is success.

+1

Defining success based on HHI is so arbitrary and relative. $500k is a lot for Nebraska, but not for NYC or Palo Alto. $500k is a lot for 1 person, but not a family of 7.

Jesus. 500k is a huge income even if you live in an expensive area or have a lot of kids.

Not really. Here's 500k in NY:

200k taxes, including city

You're left with 300k to pay for:
100k - two kids in private school
60k - renting two bedroom apartment
12k - garaging car and car expenses
25k - children's' activities
50k - 1k a week for groceries, dining out
So you have 53k leftover and that's without taking any vacations, buying clothes, etc. plus you need to keep saving for an apartment since your rent will go up $200-400 every month.

A lot of assumptions baked in here ($1,000 a week on groceries and dining out?), but also, your paltry leftover amount is only a few thousand dollars less than the median national household income.

You've clearly never lived in NY.

It's obviously possible to spend $1,000 a week on food in New York (or in D.C.). It's not clear that it's MANDATORY to spend $1,000 a week on food. It would be theoretically possible to construct a household budget that put less than $50,000 a year into dining and groceries.

[Anonymous]

To me, success is not defined by money.

[Anonymous]

If $500K is success then 95%+ of physicians at Johns Hopkins are not successful. US Cabinet members are not successful. NIH scientists are not successful.
Good grief.

[Anonymous]

Anonymous wrote:If $500K is success then 95%+ of physicians at Johns Hopkins are not successful. US Cabinet members are not successful. NIH scientists are not successful.
Good grief.

Thanks good perspective.

[Anonymous]

Anonymous wrote:A rich person is not that who has more, but that who needs less.

Can someone who makes north of 500k vouch for this?

[Anonymous]

Anonymous wrote:

Anonymous wrote:If $500K is success then 95%+ of physicians at Johns Hopkins are not successful. US Cabinet members are not successful. NIH scientists are not successful.
Good grief.

Thanks good perspective.

NP. I

Plus, if we were using the $500K metric, wouldn't RGIII be considered successful?

[Anonymous]

Parents are immigrants, came here with no connections and just the clothes on their backs. Worked multiple jobs to provide us something close to a "middle class" upbringing, but not quite. A steady job with benefits, somewhere around $80,000, was the definition for success to me all through college and grad school. My first offer for $100K and on top of that a SIGNING BONUS blew me away. Now making over $200K and am grateful for every dollar.

[Anonymous]

It's not a matter of HHI, it's a matter of net worth. My HHI is respectable but my net worth is good for my age and income.

[Anonymous]

Enough to be self supporting, handle emergencies, fund a decent retirement, pay for kids college and enjoy life some while working.

Anything over that is gravy.