Reply to What HHI is indisputably RICH in a HCOL area?

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[quote=Anonymous][quote=Anonymous]I have been incredibly fortunate and my income went through the roof. By $2M there is little that one cannot afford (except private jet Travel). By $3M you can generally afford to get the best of anything anytime that you want it and you literally stop noticing prices for small things because it literally will never matter. Anything less than a $100 will never move the needle ever. Less than $1k but over $100 I would notice but it’s still too small an amount to care about.  Single digit thousands I consider but it’s too petty an amount to consider running it by my spouse.

In all fairness we live in DC, so in NY or SF it might require more. But for understanding sake only. We have a $7M primary and $3M secondary residence. [/quote]

We have a 2-3m HHI. We bought our primary residence when we had a $1m HHI. Bought it for $2m and it is now worth $4m. House is almost paid off. We could pay it off now but it is a 2.8% interest rate. Wondering if we should upgrade to a $5m house or build our dream house. I have 2 teens and an elementary child so the older 2 wouldn’t get much use out of the new house. Our house is already 10,000sf+.

Also have a $2m beach house. I can’t justify buying a $5m beach house that we will use 1-2x per year.[/quote]

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