400 - 500K income is a lot of money. Of course wealthy people can have high expe... (2024)

purple_ferret on June 17, 2022 | parent | context | favorite | on: 36% of high earners are living paycheck to paychec...

400 - 500K income is a lot of money. Of course wealthy people can have high expenses and live beyond their means, but at that level, I fail to see how a non-extravagant lifestyle can produce an outcome of no savings even in the highest COL areas. Unless, of course, most of the money goes to taking care of your parents.

400 - 500K income is a lot of money. Of course wealthy people can have high expe... (2)

MarkMarine on June 17, 2022 [–]

Laying out all my expenses would be like a meme, it's like I'm asking someone to feel bad for me for being privileged. I'm not. I'm also not spending on an extravagant lifestyle, I rent a small 1000sq foot house, I have a family, one paid off car and one car I have a loan on. I don't really look at prices at the grocery and I buy organic food and decent coffee that I grind and brew myself, but the idea of say, having a sports car to drive around with the top off, designer clothes, or even eating at fancy restaurants (or any restaurant more than once a week) sounds nuts to me. I'm not spending money on avocado toast or whatever the meme is. I'm trying to save to be able to buy a modest home where I live, and I can't. It's out of reach. Don't feel bad for me, I could move 1.5 hours away and live a super comfortable life, but the commute would of course take me away from my family.

400 - 500K income is a lot of money. Of course wealthy people can have high expe... (3)