450k hhi - lifestyle (cars, houses)

[Anonymous]

My husband just made junior partner in a biglaw firm. After his benefits, he will be pulling in 450k for the next few years (projected).

We live a very modest lifestyle, but partners have told him they expect him to "up his game" with clients in terms of projected lifestyle.

Any insight as to what is reasonable? We still have law school debt and 2 young kids. My husband drives an old Camry (well maintained) and I drive a used dodge minivan - no car notes. We live in a modest 500k SFH in the DC area with a decent sized mortgage.

What kind of car should he get? What is "too much"? One partner even went as far to recommend a tesla.

I half expect a comment on the necessity of private schools as years go on.

[Anonymous]

Tesla. Lol.

[Anonymous]

If his partners specifically told him to "up his game", you guys can pick and choose what to show the world.

I mean entertaining clients = nice suit and maybe a nice car. Why would the clients care which schools you send your kids to? Or how big is your house? When will they ever come over to your house? All the entertaining happens at restaurants or at golf courses.

450K is not really that much, especially if you have student loans. I would save for retirement and your kid's college education.

We earn 550K and its public schools, a mazda and a honda.

[Anonymous]

Anonymous wrote:My husband just made junior partner in a biglaw firm. After his benefits, he will be pulling in 450k for the next few years (projected).

We live a very modest lifestyle, but partners have told him they expect him to "up his game" with clients in terms of projected lifestyle.

Any insight as to what is reasonable? We still have law school debt and 2 young kids. My husband drives an old Camry (well maintained) and I drive a used dodge minivan - no car notes. We live in a modest 500k SFH in the DC area with a decent sized mortgage.

What kind of car should he get? What is "too much"? One partner even went as far to recommend a tesla.

I half expect a comment on the necessity of private schools as years go on.

Where do the other partners live, especially the ones he (and you and kids) feels closer to?

Forget the private schools, unless you really need to. You may start thinking about a nice $800k-1m SFH or TH in a nice and convenient neighborhood, with good schools, and about getting a new/ pre-owned car for him, shouldn't be more than $30k.

[Anonymous]

I find it hard to believe a biglaw junior partner is going anywhere much with clients other than to do pitches and maybe cab to dinner. Nice clothes for some, although some dress crappy. At the end of the day they will only care if he can bring in business so don't get too excited. Do both of you have law school debt?

[Anonymous]

Anonymous wrote:My husband just made junior partner in a biglaw firm. After his benefits, he will be pulling in 450k for the next few years (projected).

We live a very modest lifestyle, but partners have told him they expect him to "up his game" with clients in terms of projected lifestyle.

Any insight as to what is reasonable? We still have law school debt and 2 young kids. My husband drives an old Camry (well maintained) and I drive a used dodge minivan - no car notes. We live in a modest 500k SFH in the DC area with a decent sized mortgage.

What kind of car should he get? What is "too much"? One partner even went as far to recommend a tesla.

I half expect a comment on the necessity of private schools as years go on.

Big mistake. Consider an AMG-tuned Merc

[Anonymous]

Yeah old Camry and used Dodge are embarrassing. Get him an Acura at least. Audi would be better.

[Anonymous]

I'd rent a Mercedes (Hertz and I'm sure many others have them and other luxury cars) for the very few times a partner needs to drive a client.
But really, I doubt a partner ever said those words to your husband.

[Anonymous]

He probably just was told to dress better.

In dc at least the card he drives shouldn't matter.

Clients rarely see what care someone drives anyway.

[Anonymous]

This must not be a DC law firm. Partners here are generally frumpy and drive old cars.

[Anonymous]

I think your husband just wants a snazzier car and is blaming it on his coworkers

Don't change a thing. He could be pushed out at any moment. Pay down your debts and keep saving!

[Anonymous]

He can uber with his clients if he needs to drive them. I've never driven a client and DH said he did it once. We've been out 14 years and are both partners. I drive a minivan and DH drives a 2007 lincoln.

Just be smart with your money. Pay off your loans. (I'm sure the partner who suggested the Tesla thought those were gone already. Most of us threw our early bonuses at them, but not everyone can do that.)

Be sure he has some nice suits, shoe and a decent suitcase, if he travels. Otherwise, just save as much as you can.

[Anonymous]

this has to be fake

[Anonymous]

OP I think your post is complete BS. The conversation you're describing doesn't take place in biglaw, but nice try.

[Anonymous]

Something similar happened to DH, but he's not in Biglaw. He is in a different field. Without saying too much about our situation I'd advise you to be careful of people who insist you spend a lot of money on fancy cars, private school, and bigger homes to project a certain image on behalf of the firm. In our situation these things were not essential. My theory is that for many reasons it was in the CEO's best interest for his rising star to get hooked on an expensive lifestyle.