Reply to Why are DCUM salaries so much higher than in "real life"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know DC is a HCOL area so salaries are higher than normal, but the $400K-$2M salaries that are often bandied about here are so unreal to me.  I can only think of three possibilities to explain this:

1)  DCUM is a congregation that specifically attracts this small subset of high earners

2)  These salaries are more common than I think, and they simply go unnoticed because people generally don't talk about money openly

3)  People are lying liars who lie about their income.

Which is it?[/quote]

Almost every person who posts on this site is lying and exaggerating. There is another current post in Money and Finance on having a 15 year vs. 30 year mortgage. What’s interesting there, is that every sound and conservative advisor knows that a 15 year mortgage is the way to go. Yet on DCUM, there is a high concentration of vehement opposition to a 15 year and support for a 30 year. This makes no sense for a group that is allegedly pulling in $500K+ in HHI. People on here know enough to lie about HHI, net worth, and home values. But, they’re not smart enough to know about the less obvious wealth revealing indicators. I especially like the ones in their mid-30s they already have 1M+ in their 401k and retirement plans. A near impossibility given federal limits on annual contributions. They’re just to dumb to know this isn’t possible. [/quote]

I don't think it's impossible to have 1m in retirement, especially if the figures quoted are including spouse as well. I say that because I'm 36 and between my spouse and I, our retirement is in fact over 1m. We've both been maxing out for over 15 years and there's been great stock market appreciation in that time- the 2008 bottom was 666 and even now with the decline, it's trading at 4000- that's a 6x return and even more if someone invested in apple/tech etc. [/quote]

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