Reply to Day dreaming about $1 million a year salary

Forum Index » Money and Finances

Reply to "Day dreaming about $1 million a year salary"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I know a very normal couple, and the wife makes $1 million + per year, and the husband makes about $300-400k. She owns her own business, he is a consultant. They do both travel some, but otherwise usually work out of their house. It's a big house, but it's not astronomical and they don't have a butler or a maid answering the door, etc. They drive normal cars, but also have a sports car or two in the garage. They own several investment properties, but this only recently became a hobby so they haven't reaped the full reward on those by any means. Not sure about family members hitting them up for money - the husband's mother also has a lot of money, but she is stingy and does not give it away, so maybe his family is used to not receiving anything. I also don't know them well enough to know if they're truly a happy, fulfilled couple but they at least appear that way. And their 2 kids are normal and successful so far (one college, one high school.)[/quote]

DP. Forgot to say - because their income is so substantial, their primary home has a small mortgage but their investment properties are paid for with cash, so any rental income is immediately "extra", after expenses. They do pay for college and private school, but since their income has been at these levels, they tend to save up the cash and use it for other properties. They were able to invest a large portion recently as well, once they accumulated too much cash. So I think your "budget mindset" shifts a little - instead of saying "we need to save $x for college each month and $y for retirement", all that stuff is easily taken care of, often times in a lump sum. So you are working with much larger amounts, and you have to identify what you want to do with that cash - property, investments, business, etc. You probably have enough already, but you always want your money to work for you.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics