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Old 11-06-2019, 12:43 AM   #41
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We were in a similar situation back in 2007. I was retired from the military with a $65k pension and working as a civil service employee at the grade of GS-15 step 10 and was pay-capped at $175k (regular civil servants can't earn more than a freshman Congressman). My wife stopped working her $100k job to do full time Day Trading which she is very good at. We lived in the DC in Northern Virginia in a modest townhome ($750k is modest) and owned 3 others which we rented out. We were doing okay and not spending wildly or doing much travel. What was eating us alive were the mortgages on the 3 rentals, the property taxes, and insurance. The rents we were able to charge just weren't sufficient to cover everything so we were out of pocket so other people could live in our homes. I also had child support payments plus I had major commuting costs (not reimbursed by the government) with working a couple days a week in doing non-human primate exposures at Fort Detrich in Frederick Maryland (60 miles each way) and once a week in Aberdeen Proving Grounds (I was the Chief of Microbiology detection for a biowarfare unit there [part time under orders]), Maryland (120 miles) but my actual laboratory was in Silver Spring MD a 30 mile commute in terrible traffic. I was also working a lot in fun places like Peru, Azerbaijan, Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan. All this was wearing me out and I was not making big money in the process. My civilian counterparts from American Universities were raking it in for these overseas trips but government employees don't get paid anything extra and we can't even fly Business class. Uzbekistan is a 24 hour trip which really sucks. After all expenses we had about what I was getting from my military pension after taxes. This is the reason we retired and left the country to live in Hungary where there are simplified taxes, zero property tax and zero inheritance tax. We sold all the homes and took the equity out (roughly a million) and took SSA at the minimum. The money is invested in various IRA's and brokerage accounts although never touched at all for any living.We packed it all up and I ditched the government work and we retired to Hungary. Yes, I could have bagged it all and got a job as a Professor and made some but frankly I was burnt out and all the new generation military officers I would still have to work for are beyond horrible. We don't regret retiring early at all and are enjoying an amazing life in retirement.
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Old 11-06-2019, 12:48 AM   #42
Recycles dryer sheets
 
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I can also say as an aside my ex-wife, an attorney in DC and her wife who is a GS-15 level step 10 employee are barely making it on $750k a year. I have no clue where their money goes but I do know she is not flush so there is something wrong in an economy where people who should be rich aren't. So, this is a real thing.
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Old 11-06-2019, 05:43 AM   #43
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If you do t like financial samurai as a blog just stop reading it. I stopped a few years ago due to the decline in getting anything useful from it.
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Old 11-06-2019, 08:38 AM   #44
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I can also say as an aside my ex-wife, an attorney in DC and her wife who is a GS-15 level step 10 employee are barely making it on $750k a year. I have no clue where their money goes but I do know she is not flush so there is something wrong in an economy where people who should be rich aren't. So, this is a real thing.
I'm pretty sure that if they posted their expenditures on this site people would find plenty of ways for them to reduce expenses.

If you can't get by on $750,000 a year you don't need a raise, you need a reality check.
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Old 11-06-2019, 10:05 AM   #45
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I can also say as an aside my ex-wife, an attorney in DC and her wife who is a GS-15 level step 10 employee are barely making it on $750k a year. I have no clue where their money goes but I do know she is not flush so there is something wrong in an economy where people who should be rich aren't. So, this is a real thing.
That's wild. The other day I heard a couple on Dave Ramsey having a hard time making it on 500k a year. The two of us can do it for 20k
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Old 11-06-2019, 04:46 PM   #46
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That's wild. The other day I heard a couple on Dave Ramsey having a hard time making it on 500k a year. The two of us can do it for 20k

Actually you probably couldnít do it for $20k in the city where the caller lives
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Old 11-06-2019, 05:53 PM   #47
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Posts like these make me want to swear...
Look, we moved somewhere expensive and now we have less disposable income.
Look, my spouse stopped working and now we have less money.
Look we are living beyond our means and can't afford it.
Feel sorry for me!
If you don't do the research stop whining about the surprises.
I am moving to somewhere. OK, What is the COL? What are the taxes? What is the cost of childcare, medical, local taxes, food, etc.
If you don't know this before a move then piss off. Don't want to hear it.
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Old 11-06-2019, 05:59 PM   #48
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Actually you probably couldnít do it for $20k in the city where the caller lives
True but I could do it way less than 500k
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Old 11-06-2019, 06:34 PM   #49
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I can also say as an aside my ex-wife, an attorney in DC and her wife who is a GS-15 level step 10 employee are barely making it on $750k a year. I have no clue where their money goes but I do know she is not flush so there is something wrong in an economy where people who should be rich aren't. So, this is a real thing.
The one you pay child support to have a household income of $750k and is struggling?
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Old 11-07-2019, 05:14 AM   #50
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Originally Posted by justlikebike View Post
Posts like these make me want to swear...
Look, we moved somewhere expensive and now we have less disposable income.
Look, my spouse stopped working and now we have less money.
Look we are living beyond our means and can't afford it.
Feel sorry for me!
If you don't do the research stop whining about the surprises.
I am moving to somewhere. OK, What is the COL? What are the taxes? What is the cost of childcare, medical, local taxes, food, etc.
If you don't know this before a move then piss off. Don't want to hear it.
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Old 11-07-2019, 06:00 AM   #51
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True but I could do it way less than 500k

Maybe. Weíll never know
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Old 11-07-2019, 06:15 AM   #52
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My grandma used to say "it's not what you make, it's how you spend it". I did not understand as a kid, but I remember and understand now.
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Old 11-07-2019, 10:48 AM   #53
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I'm pretty sure that if they posted their expenditures on this site people would find plenty of ways for them to reduce expenses.



If you can't get by on $750,000 a year you don't need a raise, you need a reality check.


Yup. Canít fathom how we and all our extended family have managed all these years in the DC area on 20% or less of that income.
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Old 11-07-2019, 11:04 AM   #54
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Yup. Can’t fathom how we and all our extended family have managed all these years in the DC area on 20% or less of that income.
Yeah, I'd love to see the math behind why $750K per year is "difficult". Now, I could understand if you had a nice house in Georgetown, were putting kids in expensive private schools, taking fancy vacations, and maybe owning a second home somewhere. But even in that situation, there are instances where you could probably cut some excess out.

If my income suddenly got boosted to $750K per year, I think I'd work one more year, and then retire! Two, if we suddenly went into a severe recession, so I could buy on the dips.

I guess it's possible that some people can get used to that type of income, and adjust their lifestyle accordingly, and get stuck on that hedonic treadmill or whatever they call it. But, I don't think that would happen to me. I'd just use that extra money as a means to escape the rat race that much sooner.
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Old 11-08-2019, 09:42 AM   #55
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After reading the article, I really can not feel sorry for these people. Put on your "big boy" or "big girl" panties and deal with it.
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Old 11-08-2019, 03:29 PM   #56
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"On $50,000 a year you can't even keep clean..."

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Old 11-08-2019, 04:49 PM   #57
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"On $50,000 a year you can't even keep clean..."

Ogden L. Mills,

United States Secretary of the Treasury,

1932-33.
Hence the expression "filthy lucre".
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