Anonymous wrote:Bloomingdales is not exclusively high end. I wouldn't lump it together with $1000/night hotels.

This is what threw me for a loop! No way is Bloomingdale's in the same category.

Also, people who aren't saving as much as op

Anonymous wrote:My best friend and her husband are like this. She shops sales at Gap, etc., but has tons of nice, expensive jewelry. They take multiple vacations each year and always stay at the Four Seasons. They have one child and he is a partner in law firm. She works for the govt.

I meant the husband is the partner in the law firm, not the child!

My best friend and her husband are like this. She shops sales at Gap, etc., but has tons of nice, expensive jewelry. They take multiple vacations each year and always stay at the Four Seasons. They have one child and he is a partner in law firm. She works for the govt.

We do both. We bought a less expensive home than we can afford in the district. We don't have kids but do plan on it. We figure the luxury trips and clothing will be cut back drastically with kids. We of course max out retirement, have a 15 year mortgage instead of 30 and save money on the side. We also only have one car and when we have kids will send to public school.

OP you might be rich by any objective standard, but you can't afford the lifestyle of the .01% when you are only in the 1%.

Anonymous wrote:I have two kids and we live this lifestyle. DH and I both work but my parents (who hit it big in the business world) are the ones bankrolling our lifestyle. I mean, we buy clothes are regular stores too, and I too would balk at a $3000 dress, but most of my handbags/coats/shoes/watches etc are hideously expensive and we always fly business and stay in $1000/night type places.

You go girl! I'm jealous!

I'm expecting now so we've tightened our belts but the previous poster is correct, DINKs like us spend crazy money on luxury. I miss Bloomies already.

Bloomingdales is not exclusively high end. I wouldn't lump it together with $1000/night hotels.

I have two kids and we live this lifestyle. DH and I both work but my parents (who hit it big in the business world) are the ones bankrolling our lifestyle. I mean, we buy clothes are regular stores too, and I too would balk at a $3000 dress, but most of my handbags/coats/shoes/watches etc are hideously expensive and we always fly business and stay in $1000/night type places.

Younger working folks with no children. We lived really well on less money before kids, even with good savings. Now we prioritize more saving and less luxury. Lots of DINKs around here!

We live very similar to you (even ate at Nando's last weekend); hunt for good airfares to Europe, etc. DW and I both grew up not wealthy. Now we make $800k+ per year. I can see splurging just because we'd like to have some nicer things. Currently we don't -- our main splurges are for anything that saves us time. So I'm willing to pay for a personal shopper to find me clothes just because I don't have time for it and it's a hassle to me.

Yes, there are a lot of exceptionally rich people in this world who don't rely on salaried employment to fund their lifestyles. How do you think these stores and hotels stay in business? Luxury is the fastest growing segment in retail.

People who earn a whole lot more.

I always wonder this.
We have a HHI of close to $400K. So by just about any standard we are doing well. Even in NW DC we're in the top 2%. I know we're not middle class.
But after we pay our mortgage, save for retirement (2 401ks), save a bit for college (3 kids), pay for our kids' extracurriculars, pay for home repairs and improvements as they come up, etc
we live a pretty simple life.
We buy clothing at the Gap on sale and only when things wear out, dinners out are at Nando Peri Peri (and maybe twice a year at someplace decent downtown).
We can afford to fly to Europe (5 tickets) every other year or so (but we watch fare sales for weeks and we scour the Airbnb listings to find a nice but cheap rental).
So while we live a very nice life we're also watching our spending at every turn so that we can afford things like international tickets every year or so.

If $400k gets you this, who can afford all those luxuries that surround us here in DC? I sometimes wonder. Are there that many people who just make an infinite amount of money?