Anonymous wrote:Three answers in this thread say it all:

They aren't saving as much as OP does
Their parents fund their lifestyle
They don't have kids

Or they have a higher income.

Anonymous wrote:

Anonymous wrote:::shyly raises hand::

DH and I are both trust fund babies. On top of that, I'm the only grandchild on both sides of my family. On top of that, my parents are divorced. On top of that my father feels a lot of guilt for how he handled his relationship with me during the divorce so threw money at that problem - I got ridiculously high child support through college AND grad school (both of which were paid for by trusts). I used that money to invest in real estate and then sold some at a profit.

I flew coach once, to see what it was like. But yes, we travel a lot (it'll be less once our kids are in school), we will buy clothing at full price, we take the nanny on vacation, etc.

That being said, DH and I both work. Real jobs with benefits - not like, managing our portfolios or like that Katie woman on RH of Potomac. That said, we shop at Costco, we totally have a hand-me-down network going with some close friends who also have daughters, etc.

If I had money I would totally fly 1st class or business. But are the $1000/night resorts really worth it?

Yes, yes they are. I have never cooked on vacation, except as a fun afternoon baking activity with DD4 while DD2 napped. But meals? Hell no.

Anonymous wrote:

Anonymous wrote:::shyly raises hand::

DH and I are both trust fund babies. On top of that, I'm the only grandchild on both sides of my family. On top of that, my parents are divorced. On top of that my father feels a lot of guilt for how he handled his relationship with me during the divorce so threw money at that problem - I got ridiculously high child support through college AND grad school (both of which were paid for by trusts). I used that money to invest in real estate and then sold some at a profit.

I flew coach once, to see what it was like. But yes, we travel a lot (it'll be less once our kids are in school), we will buy clothing at full price, we take the nanny on vacation, etc.

That being said, DH and I both work. Real jobs with benefits - not like, managing our portfolios or like that Katie woman on RH of Potomac. That said, we shop at Costco, we totally have a hand-me-down network going with some close friends who also have daughters, etc.

If I had money I would totally fly 1st class or business. But are the $1000/night resorts really worth it?

Not a trust fund baby but lover of high end resorts here. $1000 resorts are totally worth it. Rosewood Mayakoba was perfect. Four Seasons Orlando was Disney in luxury. I can't stand staying in a cheap room with poor beds and pillows. I love a luxurious bathroom and I usually do my resort searches based now how nice the spa is. Now that we have kids, kid amenities are higher on the list than how nice the spa is but I will not compromise and stay in an crappy hotel.

We have a high HHI (somewhat higher than yours), though I suspect we are a bit closer in spending habits to you than to my siblings who have a similar HHI to mine. We prioritize savings much more than my siblings do. This is kind of sensible, since I think we will all receive a decent inheritance from our parents (sister will also get a huge one from her FIL and brother is younger with no kids and expects a lot of income growth). That said, I think their lifestyles are a little risky, they think we're just not enjoying our life enough.

That said, I do shop at Bloomingdale's/NM/Saks, but almost only ever on sale. We've also stayed at $1000/night hotels (only a couple of times), but using points + discounts received through our AmEx. I'm of the opinion that a lot of these "luxuries" are affordable with a little effort to bargain shop...but they are still splurges to us.

We have a HHI of about $1 million but we had an almost identical lifestyle at 500k. I have always liked to stay at nice resorts and department stores. I go to Norstroms and Saks more than Bloomingdales. I also shop at places like Lululemon, JCrew, Vineyard Vines and Banana Republic.

When I was an unmarried young professional, I earned $100-200k. I had a roommate (more common in Manhattan). My splurge was trips. I flew economy class and split the cost of a 5 star resort with a girlfriend. Nice hotels would cost around $400-600 or $200-300 per person per night. It wasn't too bad. I used to splurge on 1 or 2 nice bags or shoes per year. My boyfriend or fiancé may have bought me a bag as a birthday gift or taken me on a trip as a gift.

Now we are married, have 2 kids and 10 years have passed. That $500 Ritz hotel may cost $900 now. Beaches Turks and Caicos, which was not very luxurious at all, cost us about $1000 per night. Atlantis cost us about $800 to stay at the Cove. Pretty sure I stayed at Atlantis for like $300 a decade ago but not at the Cove. Don't think the Cove existed back then.

My DH loves high-end restaurants and experiences, so I spent a while building up my credibility to become a high-end mystery shopper. $300 dinners and $500-$1000 / night hotels. I totally had imposter syndrome the whole time I did it..."OMG, they can sense I'm poor!" ...so that ruined it a bit for me. A totally over-rated lifestyle for those who are stretching to make it happen, but for those who aren't? More power to you!

Anonymous wrote:

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 have a close friend like this PP (though DH works and she does not). I vacillate between jealousy and thinking how it must suck being so beholden to your parents. My friend's parents call the shots and accompany them on most vacations, show up at their house randomly, buy their kids way too much shit, etc.

My assistant and the other young and single girls at my office wear high end clothing, shoes and purses.

Our childless friends splurge on travel.

Our wealthy friends stay at $1k/night resorts.

We had a taste of that when a wealthy relative paid for our two week honeymoon in the Caribbean. It was bliss.

Actually, we probably spend close to $1k/night when you factor in all the costs. Family of six. Nothing is cheap when you travel with six.

Anonymous wrote:::shyly raises hand::

DH and I are both trust fund babies. On top of that, I'm the only grandchild on both sides of my family. On top of that, my parents are divorced. On top of that my father feels a lot of guilt for how he handled his relationship with me during the divorce so threw money at that problem - I got ridiculously high child support through college AND grad school (both of which were paid for by trusts). I used that money to invest in real estate and then sold some at a profit.

I flew coach once, to see what it was like. But yes, we travel a lot (it'll be less once our kids are in school), we will buy clothing at full price, we take the nanny on vacation, etc.

That being said, DH and I both work. Real jobs with benefits - not like, managing our portfolios or like that Katie woman on RH of Potomac. That said, we shop at Costco, we totally have a hand-me-down network going with some close friends who also have daughters, etc.

If I had money I would totally fly 1st class or business. But are the $1000/night resorts really worth it?

I would add to the conversation that if you are going to "splurge" it makes much more sense to do it on a one-time expenditure, like a fancy outfit or nice vacation, than a purchase with ongoing expenses like a bigger house, vacation condo, SUV or luxury car that costs a fortune to drive and insure, pool, private school etc...

Assuming you can pay in cash, you don't go broke buying shoes or going on a trip, but people do get into trouble with mortgages, car payments, and tuition they can't afford if they have a drop in income.

I am also curious what percentage of the luxury market is funded by people who get bonuses; I've noticed that friends who get bonuses tend to splurge on things they wouldn't buy if that $ was rolled into their monthly paycheck.

But like anything else, people have their priorities, and some choose to forgo other conveniences or luxuries to be able to afford nice clothing and vacations. Additionally a lot of people checking in to luxury hotels are using credit card points, loyalty points from biz travel, or have a corporate rate that they can use for personal travel as well.

::shyly raises hand::

DH and I are both trust fund babies. On top of that, I'm the only grandchild on both sides of my family. On top of that, my parents are divorced. On top of that my father feels a lot of guilt for how he handled his relationship with me during the divorce so threw money at that problem - I got ridiculously high child support through college AND grad school (both of which were paid for by trusts). I used that money to invest in real estate and then sold some at a profit.

I flew coach once, to see what it was like. But yes, we travel a lot (it'll be less once our kids are in school), we will buy clothing at full price, we take the nanny on vacation, etc.

That being said, DH and I both work. Real jobs with benefits - not like, managing our portfolios or like that Katie woman on RH of Potomac. That said, we shop at Costco, we totally have a hand-me-down network going with some close friends who also have daughters, etc.

Rich people

Anonymous wrote:Three answers in this thread say it all:

They aren't saving as much as OP does
Their parents fund their lifestyle
They don't have kids

Or we have low fixed expenses. We bought a less expensive home than we can afford. We also don't have auto loans or student loans. We only have one car. The money that would be spent on student loans or cars goes to travel, dining out and looking good. I use a metro card for my commute.

Three answers in this thread say it all:

They aren't saving as much as OP does
Their parents fund their lifestyle
They don't have kids

People's priorities are different. My parents were not wealthy by any stretch but growing up we did go there. They always have sales and coupons, like most stores so it often is not that much more but the very high end stuff. I am not a fan of department stores so I don't shop there now, but its easy, even online to get stuff at an ok price there, just like GAP (which I find expensive except on major clearance).