Reply to If your HHI went from $350k to $900k +

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Can I ask a follow up--- we are likely to be in a similar situation in the next year or two, currently at 350k with 180k bonus, wondering when you were at 350k what did your savings look like---

I am assuming maxing out 401k for each spouse, funding ira for each, and contributing to 529 for each kid? Paying monthly PITI and contributing some to a brokerage account??We are trying to figure out what to do with the bonus monies we are now going to be getting. I am assuming some of the other posts make sense in terms of topping off 529s and then upping vacation budgets.

I recognize that these are such first world issues, just want to make sure we are making the right decisions.[/quote]

We went from $200k to almost $700k. Let me tell you my guiding principle: I do not assume it will last. Yes I max out 410k and the measly 529s, but I have not added a cent to vacation funds. There is actually good data on this. Lots of people will briefly be in the top 1%, but few people stay. We're very focused on investments and savings, but still live like we make $350k. Among other reasons, I've watched other families fall out of the tippy top class and it was hard on their kids. [/quote]

OP- yes this is what I am afraid of and why we save most of it yet we still live a great lifestyle in terms of experiences- vacations, going out, theater and sports tickets, and generally not worrying about a budget. Kids go to a great public school so no private tuition. We just don’t have  fancy cars (a minivan and a 10 year old car)  we don’t have a fancy new house that everyone is buying... I don’t have super nice clothes... so I’m just secretly wondering if we should upgrade a little![/quote]

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