Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am dying of curiosity to know how some of the people I know can afford the life they lead. For example,
We have friends (two teacher family) who have three kids in private school. I'm assuming that they get ridiculous financial aid or a family member is paying? The long and short is that it is 100% none of my business, but it doesn't stop me from being curious. And for the record, you never really know about anyone's finances. We live modestly, but have almost paid off our house and have a ridiculous amount of money saved. Do I judge people on my assumed understanding of their finances, yes. Do I try not to? Yes, of course.

Many people have an inheritance. I have friends who are quite open about digging themselves into debt. They also know that when his parents die they will get a huge chunk of change. I suspect they will manage to blow through that, but a lot of people get help from the family. Not gonna lie, wish I were in that boat!!

There is a huge difference between already have inherited the money or having a trust and ANTICIPating that the money will be there or go to you when parents or grandparents die. The later is super risky. I had a rich ain't who spent the last ten years of her life in assisted living, there was only a couple hundred thousand left when she died. Divorces, bad shakes in stock market or bad investment decisions, overspending on grandkid's education can all burn through what seems like a "pile" of money really quickly. Yes, there are people who are truly rich, but in my experiences, most of the people relying on perceived inheritances have very little understanding of what things really cost over time, tax ramifications, and how bickering siblings can really screw it all up. Another sweet anecdote, despite all kinds of offers for help managing her finances, when my grandmother died, we ended up paying a million(ish) in estate taxes. There are also the people who end up leaving all their money to their cats. So just make your own damn money and stop relying on other people to pay your bills for you.

Why do you care so much about what they do? I think it's great that they have a landing pad. No skin off my back. He's an only child and his kids college is already funded. Im sure every calamity can befall them in the next few years, but many people also benefit from inheritances. Personally my grandmother took out a 1M life insurance policy and despite being in nursing care and a mountain of medical bills, all the grandkid's still got 120k each. It happens.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH earns >$1M and we have boatloads saved, no debt. But if his pay was delayed, you can bet he'd be all over admin to get the $$ distributed ASAP. My point is frantic emails doesn't equal paycheck-to-paycheck living.

People who have a handle on their finances are not laissez faire about their money. I think the posters don't understand this. One does not build wealth by being casual about their balance sheet.

We understand it perfectly well but you all seem to want it both ways. Advising the popes about how it's so important to thing about your balance sheet, while looking for sympathy as being paycheck to paycheck bc you make $1 million and save 900k of it. See above for the definition of paycheck to paycheck. If you have money somewhere such that you can meet our obligations without CC debt or borrowing, you are NOT paycheck to paycheck - even if accessing the cash in your Swiss bank account will require a trip to Switzerland.

Advising the poors.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am dying of curiosity to know how some of the people I know can afford the life they lead. For example,
We have friends (two teacher family) who have three kids in private school. I'm assuming that they get ridiculous financial aid or a family member is paying? The long and short is that it is 100% none of my business, but it doesn't stop me from being curious. And for the record, you never really know about anyone's finances. We live modestly, but have almost paid off our house and have a ridiculous amount of money saved. Do I judge people on my assumed understanding of their finances, yes. Do I try not to? Yes, of course.

Many people have an inheritance. I have friends who are quite open about digging themselves into debt. They also know that when his parents die they will get a huge chunk of change. I suspect they will manage to blow through that, but a lot of people get help from the family. Not gonna lie, wish I were in that boat!!

There is a huge difference between already have inherited the money or having a trust and ANTICIPating that the money will be there or go to you when parents or grandparents die. The later is super risky. I had a rich ain't who spent the last ten years of her life in assisted living, there was only a couple hundred thousand left when she died. Divorces, bad shakes in stock market or bad investment decisions, overspending on grandkid's education can all burn through what seems like a "pile" of money really quickly. Yes, there are people who are truly rich, but in my experiences, most of the people relying on perceived inheritances have very little understanding of what things really cost over time, tax ramifications, and how bickering siblings can really screw it all up. Another sweet anecdote, despite all kinds of offers for help managing her finances, when my grandmother died, we ended up paying a million(ish) in estate taxes. There are also the people who end up leaving all their money to their cats. So just make your own damn money and stop relying on other people to pay your bills for you.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH earns >$1M and we have boatloads saved, no debt. But if his pay was delayed, you can bet he'd be all over admin to get the $$ distributed ASAP. My point is frantic emails doesn't equal paycheck-to-paycheck living.

People who have a handle on their finances are not laissez faire about their money. I think the posters don't understand this. One does not build wealth by being casual about their balance sheet.

We understand it perfectly well but you all seem to want it both ways. Advising the popes about how it's so important to thing about your balance sheet, while looking for sympathy as being paycheck to paycheck bc you make $1 million and save 900k of it. See above for the definition of paycheck to paycheck. If you have money somewhere such that you can meet our obligations without CC debt or borrowing, you are NOT paycheck to paycheck - even if accessing the cash in your Swiss bank account will require a trip to Switzerland.

Anonymous wrote:

Anonymous wrote:I am dying of curiosity to know how some of the people I know can afford the life they lead. For example,
We have friends (two teacher family) who have three kids in private school. I'm assuming that they get ridiculous financial aid or a family member is paying? The long and short is that it is 100% none of my business, but it doesn't stop me from being curious. And for the record, you never really know about anyone's finances. We live modestly, but have almost paid off our house and have a ridiculous amount of money saved. Do I judge people on my assumed understanding of their finances, yes. Do I try not to? Yes, of course.

Many people have an inheritance. I have friends who are quite open about digging themselves into debt. They also know that when his parents die they will get a huge chunk of change. I suspect they will manage to blow through that, but a lot of people get help from the family. Not gonna lie, wish I were in that boat!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH earns >$1M and we have boatloads saved, no debt. But if his pay was delayed, you can bet he'd be all over admin to get the $$ distributed ASAP. My point is frantic emails doesn't equal paycheck-to-paycheck living.

People who have a handle on their finances are not laissez faire about their money. I think the posters don't understand this. One does not build wealth by being casual about their balance sheet.

We understand it perfectly well but you all seem to want it both ways. Advising the popes about how it's so important to thing about your balance sheet, while looking for sympathy as being paycheck to paycheck bc you make $1 million and save 900k of it. See above for the definition of paycheck to paycheck. If you have money somewhere such that you can meet our obligations without CC debt or borrowing, you are NOT paycheck to paycheck - even if accessing the cash in your Swiss bank account will require a trip to Switzerland.

Anonymous wrote:

Anonymous wrote:DH earns >$1M and we have boatloads saved, no debt. But if his pay was delayed, you can bet he'd be all over admin to get the $$ distributed ASAP. My point is frantic emails doesn't equal paycheck-to-paycheck living.

People who have a handle on their finances are not laissez faire about their money. I think the posters don't understand this. One does not build wealth by being casual about their balance sheet.

Anonymous wrote:DH earns >$1M and we have boatloads saved, no debt. But if his pay was delayed, you can bet he'd be all over admin to get the $$ distributed ASAP. My point is frantic emails doesn't equal paycheck-to-paycheck living.

Anonymous wrote:I recently found this out about a few friends/coworkers. I work in the admin side of my office. The paychecks from our company were delayed by 2 days because of a clerical error and I was surprised by who was emailing me frantic because they needed their check - that day.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I recently found this out about a few friends/coworkers. I work in the admin side of my office. The paychecks from our company were delayed by 2 days because of a clerical error and I was surprised by who was emailing me frantic because they needed their check - that day.

I've noticed it in these kinds if transitional situations too - the last fed shutdown; when coworkers get new jobs and literally start the day after leaving the old job etc. When asked - why don't you take a week off between jobs, often the response is - oh no, in already going to be delayed by one pay period at the new place, I can't. I always find it interesting as these people are attorneys in the private sector who certainly should be able to go 1-2 pay periods without huge issues.

You don't know people's situation. We bring in 20k/mo. Our "burn rate" is 9k. 10k of our pay goes directly into a credit union where I physically have to walk into the branch in order to pull or transfer money this leaves us with only 1k in months cushion for suprises.

I too would be pestering payroll for my check.

On thr outside people might wonder what we are doing with our money, but in reality we are much better off than most.

Why wouldn't you just go physically walk into the credit union, where you must have loads of cash?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I recently found this out about a few friends/coworkers. I work in the admin side of my office. The paychecks from our company were delayed by 2 days because of a clerical error and I was surprised by who was emailing me frantic because they needed their check - that day.

I've noticed it in these kinds if transitional situations too - the last fed shutdown; when coworkers get new jobs and literally start the day after leaving the old job etc. When asked - why don't you take a week off between jobs, often the response is - oh no, in already going to be delayed by one pay period at the new place, I can't. I always find it interesting as these people are attorneys in the private sector who certainly should be able to go 1-2 pay periods without huge issues.

You don't know people's situation. We bring in 20k/mo. Our "burn rate" is 9k. 10k of our pay goes directly into a credit union where I physically have to walk into the branch in order to pull or transfer money this leaves us with only 1k in months cushion for suprises.

I too would be pestering payroll for my check.

On thr outside people might wonder what we are doing with our money, but in reality we are much better off than most.