450k hhi - lifestyle (cars, houses)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is a surgeon and earns about $900k. His partners always comment on our modest lifestyle. It has become sort of a joke. Many of his colleagues are country club types who live in Mclean. We have a lovely home in a fine school district. We are happy where we are.

Throughout the years, we have met many different types of professionals with vastly different lifestyles. We have witnessed many entitled kids from wealthy households who did the best for everything - best private schools, best homes, best vacations, best cars, best boats, best country club. We do not want our kids to be that way.

Yes that all sounds just awful. Thank god you're keeping them away from the best schools and great vacations.

Exactly.

You can't fit everything in a small text box. Many of those entitled children did not finish college, had drug problems or only got into 3rd tier colleges despite their parents' legacy. The children who we witnessed who turned out the best were from families who had modest lifestyles despite their parents' high incomes.

Bitch please. That's so far from the norm, but keep it up if it makes your miserable worthless life feel better.

[Anonymous]

Anonymous wrote:This has to be fake or he wants to give himself a personal partner bonus.

What's the partnership buy-in, i.e. how much do you have to pay the firm over the next five years? 250K?

Also, you will now have to buy your own healthcare; ours costs $12K a year.

Oh, and you'll like go to a higher tax bracket, so that's more money.

Talk to your accountant, because you will now have to file individual taxes three times a year: gotta save for that. Also, at the end of the year you'll have to pay state taxes in every state the firm has an office. FYI, It can add up.

It's likely that he'll bring home less this year than he did last year.

Welcome to the lovely world of law firm partnership.

true that! Its a bit of a shock.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This has to be fake or he wants to give himself a personal partner bonus.

What's the partnership buy-in, i.e. how much do you have to pay the firm over the next five years? 250K?

Also, you will now have to buy your own healthcare; ours costs $12K a year.

Oh, and you'll like go to a higher tax bracket, so that's more money.

Talk to your accountant, because you will now have to file individual taxes three times a year: gotta save for that. Also, at the end of the year you'll have to pay state taxes in every state the firm has an office. FYI, It can add up.

It's likely that he'll bring home less this year than he did last year.

Welcome to the lovely world of law firm partnership.

true that! Its a bit of a shock.

+2

To the OP, your DH should probably invest in a few good suits and buy a new car. At least buy a new Camry instead of driving around an old one.

OP: the above is your solution, whether someone at work actually said something to your husband (which I'm suspicious about) or whether your husband just wants something extra for this accomplishment (which is totally reasonable.)

[Anonymous]

Anonymous wrote:OP: the above is your solution, whether someone at work actually said something to your husband (which I'm suspicious about) or whether your husband just wants something extra for this accomplishment (which is totally reasonable.)

Someone probably did, but upgrading to a new car (Camry, Accord, etc...) and some new clothes are a small price to pay for a man who has 25+ years of law firm partnership in front of him. The reputation/appearance that he projects now could follow him for years at the firm. He doesn't want to be known as the junior partner who can't dress or who drives a crappy car. More senior partners won't want him staffed on their cases. Some might say that this is BS, but having been in the OP's DH's shoes, appearances DO matter in BIGLAW firms. Ability also matters, but everyone at his level is capable of doing the job, so being distinguishable from the junior partner who isn't allowed to see daylight (i.e., keep billing 2,400+ a year @ $600/hr ; leave the client pitches to those who know how to dress well) is critical for BIGLAW success.

[Anonymous]

You don't make 450k as a new partner at a biglaw firm.

[Anonymous]

Anonymous wrote:You don't make 450k as a new partner at a biglaw firm.

OP here:

Wow! What responses. Thank you.

1) Poster above, my husband is making 450k, after benefits but before taxes. What do you think new junior partners make?
2) To PPs: my husband is very well dressed. The comments were lifestyle specific.

I appreciate the inputs. We are trying to find th best balance of life amongst the shark tank. We are very blessed, and look forward to building toward senior partner, with or without the tesla and sidwell tuition We are still in our early 30s, so a long
way to go!

[Anonymous]

Anonymous wrote:

Anonymous wrote:You don't make 450k as a new partner at a biglaw firm.

OP here:

Wow! What responses. Thank you.

1) Poster above, my husband is making 450k, after benefits but before taxes. What do you think new junior partners make?
2) To PPs: my husband is very well dressed. The comments were lifestyle specific.

I appreciate the inputs. We are trying to find th best balance of life amongst the shark tank. We are very blessed, and look forward to building toward senior partner, with or without the tesla and sidwell tuition We are still in our early 30s, so a long
way to go!

Good for you. Honestly, you should upgrade your lifestyle ONLY if the things you buy make your lives easier. For example, a lawn service frees up 2-3 hours on a weekend. That time could be spent as billable hours or more importantly, with the family. A new car that is extremely reliable will avoid the hassle of car repairs, which again, eat into your time. A vacation at an all-inclusive resort saves you the hassle of planning every little aspect of your vacation, and this is important since the whole point of a vacation is to relax and recharge. While it's true being a DIY'er can save you money, your DH's time right now is far more important than money.