Reply to NYC law partner w/ kids: "$850K gross is not enough to live on"

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Reply to "NYC law partner w/ kids: "$850K gross is not enough to live on""

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My friend who makes $230K as a lawyer in NYC and sends her DC to private with financial aid, sleeps on the sofa in their UES 1BR apartment. Does not have her own bedroom.[/quote]

This lady makes 600k more. There is a crazy (maybe only semi crazy) poster saying that she can only afford to live in a shoebox in a decent neighborhood at 850k. Not from NY, but this sounds bananas. [/quote]

My firm once asked me, more than 20 years ago, to move to NY as that is where my clients are.  I was a new partner and at the time in DC made 500k.  I said I would do it for 1.2 million.  They said no and I said no.Today that 1.2 million is probably 2.0 or so which is what I think it takes.  Older now but if they asked me today I would say sure for 4 million.[/quote]

4mm a year is the right number to have three kids in private, a nice 4br, weekend escapes, weekly restaurant dinners, and savings. 850k isn’t enough. [/quote]

GTFO, this is mind blowing.

What is the approx HHI necessary for a couple with one kid living in a nice two bedroom apartment in Manhattan and going to public schools?[/quote]

The person you're responding to posted 3 wacko replies to different comments back to back. Just ignore, they seem to have a really specific agenda.

"Nice" is subjective and New Yorkers have very different standards than many, but I'd guess - based on my own current experience and that of friends- that a couple with one kid in a two br in Manhattan and public schools would be comfortable starting at $250k. [/quote]

It’s not subjective. No one would consider a studio in East New York infested with rodents “nice.” [/quote]

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