Reply to What’s the motivation for big shots?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You acknowledge the compensation increase.  I think many, if not most, people would be motivated to go from $200,000-500,000.  That’s a life-changing difference.  [/quote]
I just don’t get why they need the money I guess. When I’m 50 I’m supposed to have 2.8M in today’s dollars by maxing all my tax advantaged accounts and “just” throwing 10k a year into my brokerage. My wife will have about 3.2M by then. So at a total of 6M liquid net worth (excluding the house), which I think may be standard for a 25 year career of gs-15/managers, why not do something that gives good to the world, rather than sell your soul and defend corporations for a bajillion dollars… [/quote]

Do you have kids? We spent about $50,000 a year on daycare and of course we will have college tuition heating up a huge trunk of money.[/quote]
Yea but I spaced out my kids every 5 years. College tuition is almost fully paid for by having dumped 20k 10 years ago and let it ride the SP500[/quote]

$20k in 2015 would only be $60k today. UVA instate for 4 years is $167k.

Not to mention, who has $20k lying around in after tax money to lock up in a 529. How much did your house cost? It seems like your housing costs and childcare costs were very low if you had this much free cash.

[/quote]
If you dump 20k 2 years before your child is born, then contribute $200 a month until they turn 18 (so, a total of 20 years), that’s 184k in today’s dollars.

House cost 1M, in Rockville. I’m just very frugal otherwise. I’ve never used DoorDash for example. I go out to eat once a week. I don’t do expensive sports for my kids to signal to other parents. I swear parents in the DC region (and elsewhere I guess) treat kids activities like mowing the lawn was before, a virtue symbol. It’s insane the time and money people put for “swim practice”. I don’t think my kids are in want or need for lack of it[/quote]

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