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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s behind a paywall for me but this forum makes me feel poor.  It’s hard to be excited about my 401(k) hitting $1 million when reading about people worrying about retiring with accounts worth $6 million+.

I do feel like people on here exaggerate though because some of the people I know in real life who act the richest also have enormous 1st and 2nd mortgages and HELOCs, etc. so it’s a facade.[/quote]

This is a really interesting point. The one guy I know who drives the most expensive car and lives on the most expensive house and has the biggest beach house also has huge mortgages and is constantly moving money around HELOCs and personal loans to address cash flow throughout the year.[/quote]
One of my grad school classmates is now a specialist surgeon making 7 figures. He has 2 divorces, 5 kids and now a new wife with a baby on the way. I don’t know that he’s much better off than others with a more modest income.[/quote]

He’s definitely not, as he probably started making that big income very late, and clearly went crazy after he graduated. Physicians are some of the saddest and financially unsuccessful people out there.[/quote]

My buddy is in Big Law and makes around $300-400K depending on his year and hours. He came to Big Law a bit late, around age 31.

Dude blows through money like crazy. He's 37, has barely dented his student loans, doesn't own property (always lived in HCOL places - HK, London, NYC). Has only gotten serious about retirement savings in the last two years. But he has tons of expensive watches, nice clothes, always going on international vacations (buys premium economy and upgrades to business), expensive Michelin star restaurants every two weeks, etc.

If he was married and raising kids, he'd probably save a lot more.[/quote]
7th year biglaw earns $535k with bonus. [/quote]
Eh, not necessarily. Depends on the firm.[/quote]

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