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View Poll Results: $300k And You
I'm Doing Just Fine 8 6.56%
A Quarter Or Less 27 22.13%
Less Than Half 15 12.30%
Half 16 13.11%
More Than Half 6 4.92%
More Than Three Quarters 4 3.28%
All That Plus A Bag Of Chips 46 37.70%
Voters: 122. You may not vote on this poll

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Old 03-16-2011, 09:29 AM   #21
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300k would be easy. There was a time when I worked in one of the wealthiest neighborhoods in the country. I still lived a blah middle class lifestyle, but without the slightest effort it would have been easy to be "infected" by those around me and blow 300k or more a year.
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Old 03-16-2011, 09:35 AM   #22
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Yep.....I could easily spend that and more. And oh what fun it would be!
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Old 03-16-2011, 09:37 AM   #23
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I could spend a little more a year but I could take 95% of 300k and start a charity. Now that would be fun to me.
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Old 03-16-2011, 10:18 AM   #24
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I'm with Ha, I could upgrade in every area. I live in the upper midwest, and my kids are in this general area, but I'd love to spend part of the year in the mountains, and part in Hawaii, and part in a city, and .... That kind of moving around will burn $300k very quickly.

Then there's the 911, and I've read about housing developments built around a private racetrack, that's an interesting idea....
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Old 03-16-2011, 10:28 AM   #25
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Perhaps a more interesting question is...

If your income was formerly $300k/year could you then really downsize.
With a paid off mansion and property taxes covered, could you live on $30k a year ?
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Old 03-16-2011, 10:38 AM   #26
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We have friends who just donated $1 million to a local college!

Except for taking several cruises a year and drinking finer wine, they live just like us. He just upgraded his computer for the first time in 5 years.
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Old 03-16-2011, 10:55 AM   #27
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I'd probably spend about a quarter of that (more than double current 'income') and give away the rest.
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Old 03-16-2011, 11:00 AM   #28
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WARNING:THIS POST MAY SOUND SMUG, INSENSITIVE OR ELITIST. NOT MY INTENT.

In an attempt to balance the discussion a bit I offer the following: You may not want to spend that much but if you did want to I assure you it isn't difficult. In our case the tough question would be could we cut our spending DOWN to that level. If you exclude alimony we might be able to. No new cars for a while, travel cut to the bone. Donations and gifts reduced. Medical procedures stopped. Drop a club or two. Defer or cancel new kitchen/bathroom at lake house. Reduce(eliminate) expensive clothing and jewellry.

When the financial crises hit we reduced our budget(excluding alimony) to a figure quite a bit higher than $300k. In panic mode I think we could have taken it down to $300k. Hopefully I will never know. I certainly do know how lucky we are.
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Old 03-16-2011, 11:46 AM   #29
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If someone gave me $300K once, I'd be reluctant to spend just for the sake of spending. But if I knew that money was coming to me year after year as FREE money, I'd find ways to use it.
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Old 03-16-2011, 11:48 AM   #30
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Would be a large leap, but I'm up to the task. Probably have all the gadgets I wanted after the first year or two. After that, lots of travel, from row concert seats, stuff like that.
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Old 03-16-2011, 12:13 PM   #31
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Here's one expense which would help anyone who has problems spending $300K a year: $19K/year to send a 4-yr old to preschool to prep for Ivy League.


TODAYMoms - Mom sues preschool for not prepping 4-year-old for Ivy League
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Old 03-16-2011, 12:17 PM   #32
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I could spend $300k/year collecting vintage comic books with little difficulty.

Heck, if I wanted to I could spend that on a single book.
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Old 03-16-2011, 12:26 PM   #33
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I could spend the $300k easily each year. Much of it would be donations to charities I like to support.
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Old 03-16-2011, 12:26 PM   #34
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Yes, but only if I was already retired! Requires more effort than I am willing to exert at this time, but I am sure I could finagle it - and just donate the remaining! Would need more free time to travel - then I could put it to good use!
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Old 03-16-2011, 12:32 PM   #35
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Originally Posted by NW-Bound View Post
Here's one expense which would help anyone who has problems spending $300K a year: $19K/year to send a 4-yr old to preschool to prep for Ivy League.


TODAYMoms - Mom sues preschool for not prepping 4-year-old for Ivy League
$19K probably isn't that much in Manhattan. Daycare isn't cheap anywhere, NYC has to be very high for a decent place. And apparently that WON'T prep you for Ivy League.
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Old 03-16-2011, 12:45 PM   #36
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Just being aware that there was a cheaper way to do things was enough to take the thrill off.
I hate that feeling - it spoils the fun of spending money!
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Old 03-16-2011, 12:51 PM   #37
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I volunteer for this horrid duty and sacrifice myself to it for the good of the rest of you...bhwahahahaha!
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Old 03-16-2011, 01:06 PM   #38
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$19K probably isn't that much in Manhattan. Daycare isn't cheap anywhere, NYC has to be very high for a decent place. And apparently that WON'T prep you for Ivy League.
True! The mom in the article simply expected too much for her measly $19K!

Some of us still remember the story of how, in 2002, Sandy Weill, then Chairman of Citigroup, had to intervene on analyst Jack Grubman's behalf to get the latter's kid into the preschool of 92nd St Y. Citigroup had made a big donation of $1M to that school.

Grubman said in an E-mail to a friend that getting into that preschool was harder than to Harvard. I wonder how many alumni of that preschool went on to become Nobel prize recipients.
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Old 03-16-2011, 01:23 PM   #39
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I could do it . First class travel to exotic locations . A house walking distance to the beach . Lot's of money to my daughter , SIL and grandson.
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Old 03-16-2011, 01:58 PM   #40
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I like Nero Wolfe's lifestyle --- would need at least a cook (Fritz) and a gardener (Theodore). I don't care for NYC, but it would be okay if I didn't have to go out of the house.
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