Anonymous
09/14/2016 10:16
Subject: What HHI is "success" to you?
Financially successful in the DC area? Sure, $500k is in the neighborhood.
I'm 50 and my wife would be over the moon if I could manage a 50% bump to $120k.
I'm 50 and my wife would be over the moon if I could manage a 50% bump to $120k.
Anonymous
09/14/2016 10:00
Subject: What HHI is "success" to you?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:There is no HHI that is "success" to me.
Successful marriage, maybe well-adjusted children. Positive relationships with friends and family. Being in a position to give back to my community (and following through on that).
THAT is success.
+1
Defining success based on HHI is so arbitrary and relative. $500k is a lot for Nebraska, but not for NYC or Palo Alto. $500k is a lot for 1 person, but not a family of 7.
Jesus. 500k is a huge income even if you live in an expensive area or have a lot of kids.
Not really. Here's 500k in NY:
200k taxes, including city
You're left with 300k to pay for:
100k - two kids in private school
60k - renting two bedroom apartment
12k - garaging car and car expenses
25k - children's' activities
50k - 1k a week for groceries, dining out
So you have 53k leftover and that's without taking any vacations, buying clothes, etc. plus you need to keep saving for an apartment since your rent will go up $200-400 every month.
A lot of assumptions baked in here ($1,000 a week on groceries and dining out?), but also, your paltry leftover amount is only a few thousand dollars less than the median national household income.
You've clearly never lived in NY.
Anonymous
09/14/2016 09:56
Subject: What HHI is "success" to you?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:There is no HHI that is "success" to me.
Successful marriage, maybe well-adjusted children. Positive relationships with friends and family. Being in a position to give back to my community (and following through on that).
THAT is success.
+1
Defining success based on HHI is so arbitrary and relative. $500k is a lot for Nebraska, but not for NYC or Palo Alto. $500k is a lot for 1 person, but not a family of 7.
Jesus. 500k is a huge income even if you live in an expensive area or have a lot of kids.
Not really. Here's 500k in NY:
200k taxes, including city
You're left with 300k to pay for:
100k - two kids in private school
60k - renting two bedroom apartment
12k - garaging car and car expenses
25k - children's' activities
50k - 1k a week for groceries, dining out
So you have 53k leftover and that's without taking any vacations, buying clothes, etc. plus you need to keep saving for an apartment since your rent will go up $200-400 every month.
A lot of assumptions baked in here ($1,000 a week on groceries and dining out?), but also, your paltry leftover amount is only a few thousand dollars less than the median national household income.
Anonymous
09/14/2016 09:46
Subject: What HHI is "success" to you?
280k dual income. We both work 9-5, have enough to save, take a few nice vacations, no debt, and we see our kids every evening without interruption.
Anonymous
09/14/2016 09:38
Subject: What HHI is "success" to you?
Anonymous wrote:DH and I are both teachers, and the majority of our students have parents with very high incomes.
Guess we're just "the help" and not successful.
Ignore these pps, who are probably frankly bored SAHMs with Biglaw partner husbands they never see. "Household" income my ass.
Anonymous
09/14/2016 09:37
Subject: What HHI is "success" to you?
Anonymous wrote:It's not about HHI. It's about net worth and liquid savings. I've been at a HHI of over $700k for about a decade and the overall difference between 10 years ago and now is considerable.
Yup.
-200k HHI, 6mil inherited net worth
Anonymous
09/14/2016 09:35
Subject: What HHI is "success" to you?
Anonymous wrote:Anything north of $500K/yr, imo.
F**K You...
Anonymous
09/14/2016 09:06
Subject: Re:What HHI is "success" to you?
Anonymous wrote:When the HHI is high enough to get the bills paid & add to savings and you like your job, that is a success.
This is the correct answer. Any other definition and the goalposts will be inching ever further into the distance and you will unsatisfied forever.
Anonymous
09/14/2016 09:01
Subject: What HHI is "success" to you?
Anonymous wrote:500k is a lot no matter the locale.
+1 seriously
Anonymous
09/14/2016 08:58
Subject: What HHI is "success" to you?
Anonymous wrote:Anything north of $500K/yr, imo.
I'm not here for this BS today.
Anonymous
09/14/2016 08:56
Subject: What HHI is "success" to you?
DH and I are both teachers, and the majority of our students have parents with very high incomes.
Guess we're just "the help" and not successful.
Guess we're just "the help" and not successful.
Anonymous
09/14/2016 08:45
Subject: What HHI is "success" to you?
Anonymous wrote:Two income house, parents with graduate level degrees from strong colleges, 10-15 years of experience, in DC = $500K isn't all that unrealistic.
That's us, but more like 20 years - HHI around 600K.
Anonymous
09/14/2016 08:40
Subject: What HHI is "success" to you?
It's not about HHI. It's about net worth and liquid savings. I've been at a HHI of over $700k for about a decade and the overall difference between 10 years ago and now is considerable.
Anonymous
09/14/2016 08:33
Subject: Re:What HHI is "success" to you?
If you have to ask, you're not there. But your white privilege is.
Anonymous
09/14/2016 08:14
Subject: What HHI is "success" to you?
Success, to me, is establishing your investment income in excess of your needs and wants that make you happy.