Quote: (01-18-2016 03:05 PM)H1N1 Wrote:
With respect, $200k per year is a very long way from rich. You'd need to make significantly more than that here in the UK to send your child to a decent school, live in a modest house, run a couple of cars, and go on holiday once or twice a year.
I'm not saying to hate on you, you've obviously got a lifestyle that brings you plenty of happiness and well being, and that is what we are all aiming for. I have tremendous respect for that, and don't personally ascribe completely to the view that money is the best measure of success.
However, for those aiming to get rich, money is a means of keeping score, and for anyone serious about it, $200k/annum would be regarded as the worst case scenario 'if everything went badly wrong and I took big risks and never got rich, at least I could always make £100k/year' level of money.
Again, in many ways the way of life you advocate is more appealing than scrabbling up the greasy pole. But in the eyes of anyone who is rich, you are off their radar you're so poor. There are guys making more than that as associates in IBs.
Yep.
That's why my car is paid off, I don't have kids, and I bought my house at short sale for a bag of baseballs. And then did all the construction on it myself. Most of my vacation trips involve camping and hunting.
That frees up a lot of income. I use what's leftover to invest.
$200k can be a lot of money, or a little bit of money, depending on how much you spend.