Squeaking by on $300,000

August 16th, 2009 at 08:06 am

Yes, that is the title of today's front page story in the Washington Post. Of course they understand how it will sound absurd, so in the story they go over the numbers for this family living in their own named house on Long Island Sound. The Post has been doing a number of stories on how the recession has been hitting people around the country, with people ending up in some really bad positions. But wow, this one sure comes at it from the other direction.

A few highlights:
A live-in nanny.
$75,000 in child support.
Her bonus will only be 90% of what it was last year.
She'll only make $50,000 on investments this year.

I don't want to be judgemental, but you can read about it here!

Ahem, any sympathy?

Posted in Rant, Finance | 4 Comments »

4 Responses to “Squeaking by on $300,000”

davera Says:
August 16th, 2009 at 09:32 am

Wow, that's quite a story. What struck me most is how tightly conformist the story depicts these folks in Westchester County. Not only do they define themselves by their wealth and status, but they don't seem to allow their financial independence to spill over into a sense of personal freedom to define their own identity.

These ultra wealthy individuals must fit in at all costs. This is a great contrast to many of the folks on this site who pursue financial independence, yet are willing to be themselves in their pursuit of frugality.
crazyliblady Says:
August 16th, 2009 at 11:28 am

Wow. I just posted this on my myspace. I can't believe this. She buys cell phones for her kids and has a nanny, but she can't afford to take care of maintenance on her home. I wonder what would happen if her job at Mastercard were to dry up because of the economy? She must not have any kind of emergency savings or she would be able to take care of the smell in the basement. And what's worse is that she is passing this example on to her children who are easily learning the behavior of keeping up with the Joneses. I just can't believe this people. Their priorities are really messed up.
Broken Arrow Says:
August 16th, 2009 at 06:21 pm

Of course, this is ridiculous!

Yeah, I realize that they live by a different standard, and perhaps even some of it is socially necessary (for career and networking), but in the end, it's all how you make of it.

Sympathy? Why? They'll figure out some way to make do.
Jerry Says:
August 21st, 2009 at 01:09 pm

I think that when you become this wrapped up in the trappings of wealth, it leads to a general disconnect with that which is most important in life. High paying gigs are nice, but if you are THAT into "keeping up with the Jones'" it becomes impossible to be happy. IMHO, the best insurance for happiness for someone with this much income would be to live on half of it, and use the other half to change the world both locally and abroad. And tell the neighbors who scoff to stick it, as well. =) No, they don't need sympathy. They need to learn survival and budgeting skills.
Jerry

Single Guy High Impact Saving

Single guy and his crazy ideas on saving (and life in general)

Squeaking by on $300,000

4 Responses to “Squeaking by on $300,000”

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