Reply to Your income, HHI, and spending on “luxuries”

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[quote=Anonymous][quote=Anonymous]$290 hhi, net worth just under $2m, no kids. Biggest luxury items include annual charitable giving of about 10% of gross income, almost 20% of gross income for retirement savings (plus an investment condo we rent out), good insurance (health, disability, long term care, life, car, home, umbrella) and a home renovation that is going to be about half a year's hhi. We have one car and plan to replace it soon despite it still running fine (it's 9 years old and we want some different features) so that's a luxury. Other highly discretionary items: monthly house cleaning (would love to go to 2 a month but this works best for the cleaner we like), my wife gets her hair cut and dyed in an expensive salon, pet care (good food, medical care, sitter when we travel), shoes (not designer but good sneakers and hiking boots, which wear out). Travel isn't super luxurious but it adds up; same with local entertainment (restaurant meals, sports games, theater) even if we aren't getting the best seats or going to the fanciest places.

Mostly I think our biggest luxury is that we don't worry or argue about money. I try to get a good value at the grocery store, but if I see something I want I can get it. I can go to a running shoe store and pick what fits best and only use price as a tiebreaker. When there is a friend or family wedding or funeral, we just book a ticket and cat-sitter and go. And if we had something go wrong, we have enough savings and space in the budget to be ok for a while. [/quote]

+1 to this.  The luxury of not having to argue over money is such a good one.[/quote]

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