Reply to $600K-$800K HHI

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Reply to "$600K-$800K HHI"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’d love to know the monthly budget in this income range. [/quote]

We are at 750k HHI and don't budget..we just come to a number to save, let's say it's 200k. We pay ourselves first and save the 200k. After that we live however we want and if the checking account stays above a certain #, then we will either save the rest, do a home project or go on a vacation.

My only target is the savings number. If I can save 200k, and that meets my long term goals, i don't care where the rest of the money goes. [/quote]

Wow, this is kind of crazy.  I make $180K per year and technically I save more money than you guys.  (I say “technically” because I only ascribe a 50% ownership stake of all assets within a marriage to each partner.  In other words, I look at it as if you each saved $100K.)

I’m single and live with my parents. I make $180K, pay $40K in taxes, spend $10K and save $130K per year.  Obviously, I live a rather unglamorous life based on the above, but I am still obsessed with getting rich quickly even though I don’t have the skills to make those super-high incomes.

Still, it’s a testament to the “brute force” method of getting rich by saving >90% of your after-tax income.[/quote]

How old are you?

This is an insane way to lead your life. Sacrificing all consumption now so that you can be rich when you’re old is not wise.[/quote]

+10000. You only have one chance to enjoy being young. Travel, living alone, brunches, hook ups etc.

What a lot of huge savers in their 20s fail to realize is that earning more money is more important than saving in your 20s. If you make 80k you can only save so much.  [/quote]

I don’t agree. As long as you have some money to enjoy your 20’s, saving a lot earlier, because of compounding, is always better than saving more when you’re old.[/quote]

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