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There's a few points where he really gives the game away: -$60k/year for three children in private school -$50k building home equity -$50k in the 401k But the
by dbfclark 16y ago
There's a few points where he really gives the game away:
-$60k/year for three children in private school
-$50k building home equity
-$50k in the 401k
But the real point is in the sections about having bought the house at the top of the market and the equity portfolio having fallen: Mr. Henderson feels poor because his net worth has dropped. He has less savings than he used to, so of course he feels he has to save several average family's annual income to catch up.
Being a high-powered law professor can't help, of course -- that's one of those jobs where your not-so-clever peers are big law firm partners and your half-decent students make your salary two years out of school. Even more so than the average 99%er, law professors have a ginormous amount of keeping-up-with-the-jones' self-pity.