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Reply to "How much do you save annually? How much do you spend on 'wants' annually?"
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[quote=Anonymous]Wow, I am so impressed by the savings rates here. Our HHI is $1M and we aim to save 20%, and that's a stretch for us. We don't live TOO crazily either - home is worth about $700k, mortgage payment under $3k, public school. I guess we do burn through money in other ways (country club, tons of extracurriculars for our three kids, good amount of travel). I really have never thought of things as "wants." Our "needs" are really very low compared to HHI. Like...I dunno, probably $4-5k/month, if we're really talking NEED like mortgage and groceries. Everything else - sports teams/lessons for the kids, music, swimming, tutoring, dance, golf lessons, eating out, trips, new clothes, greens fees - those are wants. So the vast majority of our income is spent on wants.[/quote]
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