Reply to Making $500k and not feeling wealthy in NW

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People are stupid as shit.

If someone makes more than you, you automatically think it's like billions.

Newflash 500k a year vs 1 million vs 5 million are different.

People tend to lump 300k through 5 billion into the same class of people, being rich and telling them to shutup. 
[/quote]

We've made $500k/year. I didn't feel like crazy OP. [/quote]

Do you live in DC, paying for private schools, in a normal sized 3000 SF house?[/quote]

Yes. We make more now and I feel positively wealthy. But right around the time we hit $500k is when I felt really comfortable. Other than really big purchases, I really never had to think about money/a budget. That is a huge luxury that most people never get. Of course, it helps that I am not an idiot and didn't think my toilet would be gold plated, too. [/quote]

Did you have a large downpayment on your home? That's the main issue around here, housing is very expensive. We had to start from scratch and did very little down on a 1 million. It has grown 20% over the last few years but again it sucks down a lot of income. We are only at 300-360k[/quote]

Yes we did. Because we saved for it over the course of many years. Rich doesn't mean you get to go on a drunken spending spree and buy whatever you want. But, if you can afford an expensive house, nice cars, retirement and college savings, childcare and other things like that around here, you don't really have room to complain. It is very tone deaf and insulting to actual people who often have to choose between living in a safe place/good school district or having a child. Or paying for a pricey daycare and ever buying a home. [/quote]

FYI, I am not OP I am just explaining as to why some people feel that they aren't in that "wealth" category despite making a sizable income. Many of us didn't have large salaries until we had kids and then a immediately are thrown into a situation where we don't have time to save.[/quote]

[b]If you can't save on $360k/year, you are doing something wrong[/b]. Something very wrong. [/quote]

Exactly[/quote]

:roll:  :roll:  :roll:  :roll:  :roll:  :roll:  :roll:  :roll:

Let's say you made very little like 40k a year.

Then at age 32 you started making 350k a year, have two kids and need to buy a house.

You don't have time to save, if we tried to save for a downpayment on a decent house we wouldn't have it until the kids are moved out.

What don't you get.

This ain't detroit a house costs at least 1.5 million.[/quote]

Mine didn't. It was $409k for three bedrooms and a big back yard in the district (yes NW) proper.  Now it's worth $600k and I've done nothing but change the paint and switch up some plants. [/quote]

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