Reply to Why are DCUM salaries so much higher than in "real life"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]DH makes almost 1M (including bonus) and you’d never know it if you met us.  We live in a nice but not extravagant house.  We drive normal not flashy cars.  Our kids go to public.  We go to Bethany for vacations, not Turks and Caicos.  I don’t work but other than that we wouldn’t seem to make that much.  So I think likely there are a lot of people making a lot of money and you just have no clue.  (Also, in our neighborhood I feel like we are on the lower income side based on the houses and cars and vacations of my kids’ friends)[/quote]

We make more than that and are UHNW.  Yet, in reality we are still fairly frugal.  I drive a 12 yo vehicle, person with newest car is our 17yo (since new cars are a better deal right now than used cars and we needed a vehicle for the teen).  We do take fancy vacations (Europe, Hawaii, etc) but still are focused on getting a good deal and are planned for.    Still fly coach unless business is an amazing deal---just cannot bring ourselves to spend the extra despite being able to "afford" it.   I find the people that actually have the money are not extravagant, those that appear extravagant are often leveraged to the max.

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I find this pathetic. You’re a hoarder living so much smaller than you need to. You can’t take it with you. [/quote]

NP. The goal is not to take it with me; the goal is to leave a legacy, so that each next generation doesn’t have to start from nothing like I did.  I know, it’s hard  to understand for people like you.[/quote]

Right!?!?!  That poster would most likely blow thru millions with nothing to show for it.  Not to mention, that I don't want my kids to be entitled---they will get financial help from us, but they still need to work in life as if we are not helping them (unless there is a major issue, medical or otherwise that prevents that).  My kids will work hard and excel at life as if their parents did not come into extreme wealth.  Yes, we will pay for college, first cars (and future cars as needed), family vacations, downpayment for house/condo, and provide for future generations to do the same.  Our help will be the bonus for them and for any true emergencies we will obviously step in and assist.  
But I feel that my grandkids and GGK and beyond deserve some of that legacy rather than us just blowing thru it on ridiculous extravagance.  And we will pick a charity(ies) to support and champion, ensuring our millions help more than just a few.

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You don’t want them to be entitled so you’re leaving them an entitlement-generating trust? You might be rich but you’re also a big ol’ ding dong. [/quote]

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