Anonymous
Post 07/07/2016 10:53     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
You can earn more or spend less to improve cash flow. Starting out, cash flow is problematic. However, sometimes you need to spend a little now to prepare for the future.

in 20 years, Student loans paid off (+2000), Mortgage the same. Salary up by 50% from inflation. Net result: disposable income.
Anonymous
Post 07/07/2016 10:06     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:"Because paying your 2K student loan payment every month (which is the payment for a PUBLIC law school or medical school), and paying your 3K mortgage (for a house that was considered middle or even working class in the 80s and 90s, but is now very expensive), and paying 3K a month (at least) for daycare or a nanny for 2 kids, while very costly, does not feel luxurious, yet that (plus 28% or so in taxes) is where the majority of your money goes. "

This. It is so aggravating to talk housing with slightly older colleagues who are like "why don't you just buy in Bethesda?"

Well, because I did not buy pre-2000 and kids are expensive when you salary comes from 2 relatively similar pay checks vs one high earner and a SAHP.



+1
I went through this too, right down to coworkers telling me to buy in Bethesda. When I told them my daycare bill, they were shocked.


These posts in our high COLA area emphasize the vast rip off perpetrated by the federal govt in the tax codes. Income limits for deductions and credits.
Anonymous
Post 07/07/2016 09:54     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:"Because paying your 2K student loan payment every month (which is the payment for a PUBLIC law school or medical school), and paying your 3K mortgage (for a house that was considered middle or even working class in the 80s and 90s, but is now very expensive), and paying 3K a month (at least) for daycare or a nanny for 2 kids, while very costly, does not feel luxurious, yet that (plus 28% or so in taxes) is where the majority of your money goes. "

This. It is so aggravating to talk housing with slightly older colleagues who are like "why don't you just buy in Bethesda?"

Well, because I did not buy pre-2000 and kids are expensive when you salary comes from 2 relatively similar pay checks vs one high earner and a SAHP.



+1
I went through this too, right down to coworkers telling me to buy in Bethesda. When I told them my daycare bill, they were shocked.
Anonymous
Post 07/07/2016 09:39     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:I want to smack those posters. We are overextended, we feel stretched, we can't maintain our budget...all perfectly fine descriptors (and accurately portray your choices/circumstances as the issue, not your income) but don't dare use the word poor


+1 They have choices and chose poorly. However, in their minds they HAD to live in X neighborhood, and HAD to have a nanny, expensive preschool, etc. These are all superficial choices. It's not the same as choosing between paying the electric bill or gas bill each month.
Anonymous
Post 07/07/2016 09:34     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:We have HHI of $2.2. And I feel poor. We have a $2.5 million primary, a Million dollar farm in the country and a $2 million house on the Eastern Shore. We also have 7 rentals that throw off about 40k a month- I just use this cash as walking around $- I don't count it as income. We each have cars worth about $125k and our 2 kids go to private schools. We have 2 full time nannies and a house cleaner. I fell like I can Barley make ends meet.


You need therapy and a personal financial planner. If you feel poor, you've over-extended your income stream.


Obvious troll, not even a very funny one!
Anonymous
Post 07/07/2016 08:50     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:We have HHI of $2.2. And I feel poor. We have a $2.5 million primary, a Million dollar farm in the country and a $2 million house on the Eastern Shore. We also have 7 rentals that throw off about 40k a month- I just use this cash as walking around $- I don't count it as income. We each have cars worth about $125k and our 2 kids go to private schools. We have 2 full time nannies and a house cleaner. I fell like I can Barley make ends meet.


You need therapy and a personal financial planner. If you feel poor, you've over-extended your income stream.
Anonymous
Post 07/07/2016 08:48     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Get ready to feel poorer if Hilary wins. She wants free college for everyone making less than 125k. That means anyone in the you are rich to Democrats income range of about 200k is going to be murdered on taxes.
Anonymous
Post 07/07/2016 07:27     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
"Because paying your 2K student loan payment every month (which is the payment for a PUBLIC law school or medical school), and paying your 3K mortgage (for a house that was considered middle or even working class in the 80s and 90s, but is now very expensive), and paying 3K a month (at least) for daycare or a nanny for 2 kids, while very costly, does not feel luxurious, yet that (plus 28% or so in taxes) is where the majority of your money goes. "

This. It is so aggravating to talk housing with slightly older colleagues who are like "why don't you just buy in Bethesda?"

Well, because I did not buy pre-2000 and kids are expensive when you salary comes from 2 relatively similar pay checks vs one high earner and a SAHP.

Anonymous
Post 07/07/2016 06:43     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
We make $300k, but all these posters making $900k-1.1M$, and saying : just earn more. I have no idea how to do that! NOW I at least feel unhappy, b/c that kind of money would allow DW to SAH, we could help out our parents.. Just have to 'earn more'...
Anonymous
Post 07/06/2016 20:05     Subject: Re:s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Ok honest answer? I feel poor because of how our friends vacation compared the us. We go with th them to the OBX each year. But they ALSO go somewhere in the Caribbean in Feb, skiing out west in April, ( OBX with us in July), Europe in August or Sept, and then somewhere warm again in Nov (Disney World or Caribbean again). Sigh.


Geez how many vacation days do they get each year?


Different poster. We vacation very similarly. I don't know about the other family but our trips are often 4-5 days and usually long weekends. Went on a Disney Cruise Thanksgiving weekend, Caribbean for New Year's, did Asia for 10 days (6 days off from work). Last year we did Europe for the same time frame. I had 20 days vacation and DH has 30 days. I no longer work but DH still doesn't use all 30 days. Our trips are still 4-5 days and usual long weekends. I may fly a day earlier than DH but that is about it.


What is your HHI?


DH earns over $1 million per year now but we traveled just as much when our HHI was 300k. We do stay at nicer resorts now though. DH is much busier at work so he has less time and not more. Our kids are still young so I don't like traveling without DH.


And for the record, I think we may have been happier when we were earning 300k. Our lifestyle has not changed that much. We live in the same house. We do the same things. We save a ton more though. I know I was happier when we were 50-50 partners. We earned around the same, got home around the same. Life was good. Now DH works a lot more and I am in charge of 95% of everything kid and home.
Anonymous
Post 07/06/2016 19:49     Subject: Re:s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Ok honest answer? I feel poor because of how our friends vacation compared the us. We go with th them to the OBX each year. But they ALSO go somewhere in the Caribbean in Feb, skiing out west in April, ( OBX with us in July), Europe in August or Sept, and then somewhere warm again in Nov (Disney World or Caribbean again). Sigh.


Geez how many vacation days do they get each year?


Different poster. We vacation very similarly. I don't know about the other family but our trips are often 4-5 days and usually long weekends. Went on a Disney Cruise Thanksgiving weekend, Caribbean for New Year's, did Asia for 10 days (6 days off from work). Last year we did Europe for the same time frame. I had 20 days vacation and DH has 30 days. I no longer work but DH still doesn't use all 30 days. Our trips are still 4-5 days and usual long weekends. I may fly a day earlier than DH but that is about it.


What is your HHI?


DH earns over $1 million per year now but we traveled just as much when our HHI was 300k. We do stay at nicer resorts now though. DH is much busier at work so he has less time and not more. Our kids are still young so I don't like traveling without DH.
Anonymous
Post 07/06/2016 19:40     Subject: Re:s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Ok honest answer? I feel poor because of how our friends vacation compared the us. We go with th them to the OBX each year. But they ALSO go somewhere in the Caribbean in Feb, skiing out west in April, ( OBX with us in July), Europe in August or Sept, and then somewhere warm again in Nov (Disney World or Caribbean again). Sigh.


Geez how many vacation days do they get each year?


Different poster. We vacation very similarly. I don't know about the other family but our trips are often 4-5 days and usually long weekends. Went on a Disney Cruise Thanksgiving weekend, Caribbean for New Year's, did Asia for 10 days (6 days off from work). Last year we did Europe for the same time frame. I had 20 days vacation and DH has 30 days. I no longer work but DH still doesn't use all 30 days. Our trips are still 4-5 days and usual long weekends. I may fly a day earlier than DH but that is about it.


What is your HHI?
Anonymous
Post 07/06/2016 19:39     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Well I used to think we were pretty well off (even rich if it wasn't so supremely tacky to think or say that) BUT our beach house is in the OBX where, I've been informed by those who frequent the travel forum, is MC and tacky and not chic like the Hamptons. Sooo I guess we are MC after all
Anonymous
Post 07/06/2016 19:26     Subject: Re:s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
Anonymous wrote:
Anonymous wrote:Ok honest answer? I feel poor because of how our friends vacation compared the us. We go with th them to the OBX each year. But they ALSO go somewhere in the Caribbean in Feb, skiing out west in April, ( OBX with us in July), Europe in August or Sept, and then somewhere warm again in Nov (Disney World or Caribbean again). Sigh.


Geez how many vacation days do they get each year?


Different poster. We vacation very similarly. I don't know about the other family but our trips are often 4-5 days and usually long weekends. Went on a Disney Cruise Thanksgiving weekend, Caribbean for New Year's, did Asia for 10 days (6 days off from work). Last year we did Europe for the same time frame. I had 20 days vacation and DH has 30 days. I no longer work but DH still doesn't use all 30 days. Our trips are still 4-5 days and usual long weekends. I may fly a day earlier than DH but that is about it.
Anonymous
Post 07/06/2016 19:26     Subject: s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?
We have HHI of $2.2. And I feel poor. We have a $2.5 million primary, a Million dollar farm in the country and a $2 million house on the Eastern Shore. We also have 7 rentals that throw off about 40k a month- I just use this cash as walking around $- I don't count it as income. We each have cars worth about $125k and our 2 kids go to private schools. We have 2 full time nannies and a house cleaner. I fell like I can Barley make ends meet.