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

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[quote=Anonymous][quote=Anonymous]Our income is around $2.5M-$3M on a net worth of about $38-40M. I am recently retired, albeit very young. We earned all of our money and I earned the vast majority of it.

Anything that costs less than $100 will never matter ever. It doesn’t matter how many of anything we buy at that amount or how often.

Between $100-$1k I mentally acknowledge the expenditure. But I notice that in all sorts of circumstances something is pricier than it should be but it doesn’t stop me buying it and rarely would have me spend the time looking for a cheaper alternative as my time is worth more than this amount.

$1K- 10K is an amount I would spend without planning. At this amount it is objectively real money, but subjectively still doesn’t matter. I would, spend this much on a car repair, book a spontaneous vacation, buy a piece of art or make a donation commitment without feeling the need to check with DH or that it would matter. I would notice it on my credit card bill though and confirm that it is legit.

Above $10K is real money to me.

That said, the irony of money is that if you have a lot, there isn’t much you actually want. We spend on vacations, our house (although that is nearly done) and experiences. We hardly if ever buy stuff (like jewelry, hand bags, designer clothing). We do buy a car every 5-10 years, but nothing particularly fancy. We just aren’t car people. And while I’d like to be we aren’t really art people either. There are surprising few tangible things that we actually want. [/quote]

Just curious, is your HHi w2? I’m asking because my HHI is 1.4 mil but w2 so we paid half of that on tax every year. 
Anything below 1000 $ is not that significant for us but anything more is. 
Our expense yearly is about half of the tax we paid. The rest goes to saving/investing. 
Our income may goes up to 2 mil in near future but I don’t think I have that much disposable income due to how much tax we paid.

Thanks

To answer the OP,
 I don’t spend on luxury clothing or jewelry 
No luxury car
Buy luxury handbags 10k or less,  yearly 
Usually wear regular brand like Zara for clothing . Normal shoes like Nike,Clark etc

We son a lot on travel. We fly economy class when fly domestic but business class on over 20 h international flight .
We spend about 50k on travel yearly
Our one kid is in public school. ( he s happy and doesn’t want to move to private. We consider private in High school) He s 12 yo and has 200k in 529 which we still contribute 5000 a year.

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