4 ms·
Thing is it's absolutely possible to scale up your spending to any income level. And this is indeed what happens with many people, this is how you get these NYT
by varjag 2y ago
Thing is it's absolutely possible to scale up your spending to any income level. And this is indeed what happens with many people, this is how you get these NYT pieces on households struggling on $500k. If you go by this the whole expression is kinda meaningless.
- ghaff 2y agoMaybe not any income level. Well, you can buy Twitter I suppose. But, yes, you can fly Netjets or whatever, buy supercars, have a bunch of personal staff, and eat out at Michelin-starred restaurants on a regular basis. And burn through certainly multiple $100Ks or even 6 figures annually pretty quickly.
- FredPret 2y agoThere was once a billionaire in Brazil who blew it all. Instead of Netjets you can own your own jet(s). Instead of restaurants you can buy them or have the chef come to your house. At the extreme end, you can start a space program. The sky’s the limit!
- ghaff 2y agoYeah. I sometimes feel like I'm being a bit extravagant but it's pretty small-scale in the scheme of things. No interest in multiple homes, yachts, jets, etc. Don't even eat out all that much except when I'm relatively modestly traveling.
- EVa5I7bHFq9mnYK 2y agoEating from the hand of the same chef all my life? No, thanks.
- regularfry 2y agoHaving known (tangentially) someone with a live-in chef, I can confirm that they do not supply literally all the meals.
- varjag 2y agoFor all his failings I can't recall Musk ever claiming he lives paycheck to paycheck.
- throwaway2037 2y agoThere is a guy on YouTube that runs a channel called "I will teach you to be rich". Part of his content is like a call-in radio show, where people share their trainwreck expenses. It is unbelievable how people spend their money. And these are people frequently earning over 200K USD per year. If you watch more than a few episodes they all sound the same, and it is very hard to have any sympathy for their wasteful spending habits. When confronted by the host about various line items in their shared budget, the guests (invariably!) have unlimited excuses why this or that cannot be cut. Most people that I know that are earning more than 50% above median income are incredibly wasteful spenders. Most of them are in for a huge shock in their 50s when thinking about retirement.
- matwood 2y agoAlmost all of us are wasteful spenders in our own ways. The point of that guys show is to teach people to only spend money in ways that really matter to them. But, my matters might (likely) be your wasteful.