Reply to Do you make $400,000 a year but feel broke?

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[quote=Anonymous][quote=Anonymous]So, look - anyone who makes a certain amount of money, but tries to live at a level that is pricier than that amount, will feel as if they are overburdened.[/q]
A family that earns $400k and saves $120k (about half of their total after tax income) is not going to be living a lavish lifestyle in this region.  That's a comfortable income, but it's not luxury cars and McMansions in Potomac.  It's a modest townhome income.  So it's not a question of living above their means - it's really a question of whether you think it's appropriate to ask someone in that position to pay full freight for multiple kids.

Just to take the example further, I know a colleague with four kids (all in public).  If that person wanted to send all four kids to private, and there was no discount (let's assume no headline tuition reduction for multiple children), it would be absurd to think they should pay every last dime of savings each year to the point that they are accumulating almost nothing.

[q]If you're making $400k and hanging around with people making $2 mil, yes, you will feel relatively unwealthy.[/q]
To make $400k annually, you're almost certainly going to in professional circles with colleagues in that salary range, so it's really unavoidable.

[q]Being among the wealthiest does not mean that you can buy everything you want without giving it a second thought. That's insane. You still have to prioritize.[/q]
Why would giving someone $5-10k of aid off of a $60k bill at that level be equivalent to allowing them to "buy everything they want without giving it a second thought?"  A family considering spending $50k of a total $120k savings (which again requires them to be living pretty frugally) is definitely going to prioritizing school over other things if they make that choice.[/quote]

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