Reply to What is the lifestyle difference of 400-500k/yr and 800-1M/yr

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I dunno I would not pay for private school and would not have replied to this thread if you hadn't mentioned it. IMO my lifestyle would not change much at all going from 500k to 1m. I would by a MODERN house, which they barely build around the DC area, and that's about it. I already outsource my cooking, cleaning, and lawn care. Drive the car I want to drive, go on the vacations I want to go on. Private school? Kill me[/quote]

Do you have kids? You would value a nicer house over your children’s’ education?[/quote]

Early Retired Biglaw partner here, with fully grown and long ago launched kids.

Ten years from now, your private school kids will be attending the same colleges as the public school kids.  Ten years after that, your kids and those kids will be doing the same jobs, making the same money, and having the same lives and lifestyles - while also working alongside other kids who not only went to public schools, but also to public colleges and other colleges that no one’s ever heard of.  The great big world is the great big equalizer when it comes to this stuff.

Unless, of course, you aspire for your kids to be in Biglaw.  In that case, yea, the schooling matters.  But if you want that for your kids I feel sorry for you - and them.

[/quote]

Ten years from now all of the people who were doing their own cooking, cleaning, and lawn care will also be 10 years older, just like those of you who outsource those things. You will have had a different experience in the interim, and for you it's worth it to pay for others to do those tasks rather than experience them yourself. I don't think my kids will be in a better college and I pray they don't go into the law, but the years they are spending in private school are wonderful and I can't imagine a luxury I would value more.[/quote]

Retired Biglaw partner here.  Not sure if you’re referring to me, but we did our own cooking and mowed our own lawn ha ha.  But I’ll come clean: we did eventually hire a cleaning lady, but only once a month!  😆 [/quote]

I’m sorry, I am conflating two posters. My point is more that anyone in this income bracket can choose luxuries and we value them differently. I drive an old dependable car and have never had any desire for an expensive new one, but we love our private school and that daily experience is worth the fortune it costs us. You may have different priorities for your discretionary income. I don’t think my kids will necessarily end up at a better college or with a better career but I value what they’re experiencing on a daily basis to pay for their school now.[/quote]

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