Reply to Upper and UMC Ppl: Do you Actually Know Anyone Living Beyond their Means?

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Reply to "Upper and UMC Ppl: Do you Actually Know Anyone Living Beyond their Means?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There definitely are people like this, but the problem is that it becomes a lot less obvious when people who have high incomes are living beyond their means.

I grew up in a lower middle class neighborhood.  You'd hear about a friend's family having to move because of eviction, but then they'd show up to school in a new pair of Jordans.

High income people still live in the fancy house and still drive the german cars even though they might have debt out the wazoo.  They're not living on the razor's edge like a poorer family.  [/quote]

OP here.  I'm not so sure I agree that it's less obvious. Of course, there's always exceptions.

Most of my peers are big law, doctors, consultants, executives.  The pay for these kind of jobs are known entities. For example, an of-counsel at a big law is probably making around 400. Or maybe it's 350 or 450, but I know I'm not that much off.  It's relatively easy to triangulate pay for people like us: highly skilled, yet totally replaceable worker bees.  Because we're so replaceable, the pay scale isn't that much of a mystery. [/quote]

But at higher income, you have less certainty where the money is coming from.  Is it just salary? Or is it some kind of passive income or family money?  I'm pretty sure that the people I grew up with didn't have trusts. 
[/quote]

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