Those effin' bankers

[ceyko]

All this article proves is that people are horrible with money no matter what they make. Even ones who manage money professionally can be dumb when it comes to their personal finances. I work with a few people who do like the guys in the article and spend every dime they make on useless shit.

You're quite right. The only thing I sympathize with is that when you earn something you don't want to lose it. I think we can all relate to that, the difference is we don't feel sorry for people (not losing!) having to simply give up a second home, private schools and things that are not VITAL to well being.

Frankly, I'd have more sympathy for us lower class schmucks having to sell race cars and other extras.

Plus, 350K a year gets real small when you live in NYC. I don't feel sorry for someone who could be living high on the hog living out further - but chooses to stress his family to live in a 1200 sq ft place in the city.

[Treasure Chest]

You're quite right. The only thing I sympathize with is that when you earn something you don't want to lose it. I think we can all relate to that, the difference is we don't feel sorry for people (not losing!) having to simply give up a second home, private schools and things that are not VITAL to well being.

Frankly, I'd have more sympathy for us lower class schmucks having to sell race cars and other extras.

Plus, 350K a year gets real small when you live in NYC. I don't feel sorry for someone who could be living high on the hog living out further - but chooses to stress his family to live in a 1200 sq ft place in the city.

Not to mention that second home in CT that he can only afford to spend 1 month in this year, instead of 4.....

I worked for a CFP who was like this. He could tell everyone else how to save their money, but he didn't have crap to show in his portfolio.

[Broncojohnny]

You're quite right. The only thing I sympathize with is that when you earn something you don't want to lose it. I think we can all relate to that, the difference is we don't feel sorry for people (not losing!) having to simply give up a second home, private schools and things that are not VITAL to well being.

Frankly, I'd have more sympathy for us lower class schmucks having to sell race cars and other extras.

Plus, 350K a year gets real small when you live in NYC. I don't feel sorry for someone who could be living high on the hog living out further - but chooses to stress his family to live in a 1200 sq ft place in the city.

All true. Fact is these guys made their bed by spending their money on bullshit, no different than the welfare cases who buy smokes. They can lay in that bed now.

[GrayStangGT]

His family rents the lower duplex of a brownstone in Cobble Hill, where his two children share a room. His 10-year- old daughter is a student at $32,000-a-year Poly Prep Country Day School in Brooklyn. His son, 7, will apply in a few years.

"I can't imagine what I'm going to do," Schiff said. "I'm crammed into 1,200 square feet. I don't have a dishwasher. We do all our dishes by hand."

I think I found the problem. I didn't even spend that much on the total tuition to get my Bachelors Degree. (2 years of Junior College and then UTA)

And I have 2,000 sqft and a dishwasher lol.

[Broncojohnny]

I think I found the problem. I didn't even spend that much on the total tuition to get my Bachelors Degree. (2 years of Junior College and then UTA)

And I have 2,000 sqft and a dishwasher lol.

I had a big title company exec tell me that he was spending $120K a year to send his daughter to Vanderbilt. I thought maybe she needed to buy a new house to live in every year or something.

[quikag]

Pitiful. People who have a 'good year' and pull $500k or whatever and then think that gravy train is going to come every single year and they move their standard of living up to $500k/yr and when they get screwed in a particular year and 'only' make $300k, they are in deep kimchi.

I've said this before and I'll say it again. Find a 'normal' standard of living and STAY there once you start making more money. If you are comfortable at $50k/yr standard of living and you are eventually making $100k+ BANK THE DIFFERENCE. Don't be a dipshit and start stretching yourself.

[juiceweezl]

All true. Fact is these guys made their bed by spending their money on bullshit, no different than the welfare cases who buy smokes. They can lay in that bed now.

This is the truth. Yes, it costs more to live in NYC, but that doesn't mean the kids have to go to the expensive prep school. It doesn't mean you have to have 2 Audis that you pay a nice ransom to have parked in a garage each month. It doesn't mean that you have to pay someone $34 a day to walk your dogs. Seriously? If you're going to have a dog, walk it yourself!

[roliath]

Pitiful. People who have a 'good year' and pull $500k or whatever and then think that gravy train is going to come every single year and they move their standard of living up to $500k/yr and when they get screwed in a particular year and 'only' make $300k, they are in deep kimchi.

I've said this before and I'll say it again. Find a 'normal' standard of living and STAY there once you start making more money. If you are comfortable at $50k/yr standard of living and you are eventually making $100k+ BANK THE DIFFERENCE. Don't be a dipshit and start stretching yourself.

Best advice my mother ever gave me, its how I was able to save soo much.

[slow99]

All this article proves is that people are horrible with money no matter what they make.

Pretty much sums it up.

Find a 'normal' standard of living and STAY there once you start making more money. If you are comfortable at $50k/yr standard of living and you are eventually making $100k+ BANK THE DIFFERENCE. Don't be a dipshit and start stretching yourself.

Yep.