How do you spend all your money?

After beginning to earn north of 200k/year, I quickly realized that you can only eat a certain amount of food, expensive clothes aren’t that much better than cheaper ones, a home is a home, you can’t drive more than one car at a time, and holidays can be tiring and eventually boring.

Sure, you can save up, but most retirees without a mortgage don’t need 200k a year.

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Donte to a cause that means something to you.

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I justify selling out by donating.

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Buy assets. My goal is to accrue enough money to “buy” my freedom back. You can only buy so many things….but you can’t buy time.

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Or happiness.

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You don’t need to spend it. Save and invest the excess over your bills so that you can quit working someday while maintaining your current standard of living.

likesmart

This! #goals

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OP clearly doesn't live in a high COL city.

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Your attitude is so odd. You don’t have to spent the money if you don’t want to. Invest instead. But even your views on what others spend money on is really naive. At $200k/year, not all homes are created equal for you because you surely can’t afford a lot of things people spend money on in homes. Save your money because you’ll probably feel different about these things down the road.

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Sneakers and watches...

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On my student loans, rent and ordering food because I don’t have time to cook

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Yeah I’m confused about how OP has so much extra money. I have cash left over for sure, but after rent and loans and other bills, I definitely don’t have to search for ways to spend, either.

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I spend on student loans, gifts for family, money to parents, my car, rent, vacations, discount designer clothes, food, and then I save the rest. I was planning to dump the savings into either a house or wiping out student loans, but a recent health issue in the family makes me very thankful that I have cash to use for any available treatment options. You never know when you’ll need it.

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I want to have kids to paying for their education is my main reason for making money.

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I don’t have kids, nor do I have anyone to make them with.

likefunny

I'm sure your flippant attitude towards saving will never come back to bite you.

likefunny

Do you live in NYC?

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Hobbies.

likefunny

“Spend less than you make. Invest the rest.” If that’s not for you I can give you my venmo @. Otherwise take up a recreational nose beer habit? Or take some baller vacations?

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I’m with you. Don’t understand how some people in biglaw seem to live paycheck to paycheck (although my spending does creep up every year as I very slowly exit the scarcity mindset leftover from my youth). I’m in HCOL area, for those wondering. However, I invest most of my money with the goal of making early retirement an option. Biglaw is much nicer when you know you know you can quit and be financially ok. Not there yet but well on track. Also, don’t be afraid to spoil yourself a bit with nice vacations, massages, cleaning service etc. But agreed with you it’s all pretty empty after a while. Money definitely doesn’t buy happiness, but it can eliminate some annoyances which is great.

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Yeah it’s the student loans

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I’m three years in now. When I first started I was living almost paycheck to paycheck. I’ve done well to cut back my spending and save/invest a much larger portion of my income.

Going out to restaurants was huge for me. Bottles of wine can make a dinner get out of hand price-wise pretty fast. I also liked to gamble a bit....

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Shhhhhh

Student loans and savings. After 5 years, my husband and I had both paid off about $350K in loans, bought a house, and had a massive amount socked away in retirement accounts and post-tax investment accounts. It’s nice to be a double-big law family. Altho we’re now both in-house and have kids, which has made things expensive.

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