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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]5m. 1m is undoubtedly rich but it’s 1st class rich, not private jet rich. [/quote]

No, you don’t necessarily fly first class with a $1m HHI.

I remember writing on the travel forum that we usually fly economy plus at $1m. HHI is now over $2m and we only recently started upgrading to business class and that isn’t even always.[/quote]

+1. Hhi closer to $2m, and three first class tickets to Asia for a one week trip is $13k each so almost $40k. And we porbably do another trip to Europe in the same year where first class is $10k each. And then you probably fly two other times a year domestically to see family for a weekend or whatever - at $1000 a ticket times three. If you make $1m, after tax is around $600k, you can’t be spending $80k a year on first class travel. I said above and I know people eye roll but this is my point about incomes at $1-2m does not just let you spend what you want to spend. You stil need to be cautious and pick maybe one thing that you spend money on but spend regular style on other stuff. So maybe you send two kids to private school. But then it’s not prudent to also have two first class vacations a year for the family of four. Or maybe you do the fancy vacations, but that means you can’t also be buying luxury cars every few years. $1-2m gives you a lovely life without concern and a likely stable and comfortable retirement, but only if you’re still mindful about what you spend. [/quote]

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