Reply to Salary question for those of you pulling in the big bucks.

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[quote=Anonymous][quote=Anonymous]I'll give this a stab.  We net somewhere between $800K-$1M and that is likely to increase rapidly as I know have several million invested (and not in stocks).  I also think that my answer is going to be different than those with incomes in the $500K range.

[b]High income is a mindset, not a salary.  Once you reach a certain point with money, you realize there are infinite opportunities around you to make more money.  That in and of itself provides me a certain level of freedom that someone with a salary can never have.[/b]

It also produces odd juxtapositions.  Our last house was a multi unit in a great part of town.  Rental income from that house nearly exceeded our mortgage and it would have only gone up.  There is no way to compare that to your $1500 mortgage.  My payment (net of rental income) was going to forever go down.  Yours (even if the mortgage is paid in full) would only go up.

You may consider a beach vacation and pay $2000 for the week.  Someone in the $500K range may buy a beach condo.  I am looking a commercial building with 2 apartments on top.

If you want an inexpensive dinner out, you might get pizza.  Someone in the $500K range might do sit down at a chain restaurant.  I would go to a nicer restaurant that I own a minority share of.

I also earn more interest on my bank accounts, pay a lower mortgage rate, pay less for insurance coverage, etc.

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I am intrigued...tell me more.....

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