{ "media_type": "text", "post_content": "In your opinion what is a better life - being really rich like making $500k a year or more but no serious relationship. Or having a partner and family but making below $200k?", "post_id": "60d4913d38ef1200220e5127", "reply_count": 237, "vote_count": 31, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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In your opinion what is a better life - being really rich like making $500k a year or more but no serious relationship. Or having a partner and family but making below $200k?

funnylikesmart
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I make 150K have a wife and 2 kids, live in a top 5 school district neighborhood (out of 25 in Dallas metro)... own a house and 2 rentals (with positive cash flow)... for sure my kids won't go to private school, I don't drive a Porsche, I don't own a vacation home, I don't eat at fancy restaurants 4 days a week, on and on (on things the rich do).... I try to live below my means, save and make investments...

I'm happy with my life, I have achieved way more than what I had growing up (different country), I know I'm not where I want to be, but I know I'm in the right direction (may be walking, not running but in the right direction) 🤷🏻‍♂️

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I grew up dirt poor. My sister and I didn’t know that our family was poor but we sure were. My dad was a Baptist minister and we were scraping the bottom of the barrel just to have food on the table (and many times we didn’t). But I am so glad that we grew up like that because we learned where the real treasures are and it isn’t with a salary. With that being said, there is nothing wrong with being comfortable or even wealthy. In fact, that is a good thing. It is hard to be poor. But the most important things in life cannot be bought with money. I would take my family over wealth 100 times out of 100…but why not have both? :)

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Man I wish $500K felt as rich as you make it sound 👎🏼

likefunny

Depending on where you live, $500k is definitely “well off”, but nowhere near “rich” in places like Bay, NYC, Boston, and LA.

Am I the only one who feels super rich at 95k a year? Like literally can't believe I'm making that much money. Lol am I weird?

likeuplifting

Glad to have found this thread haha, I spent a decade in dc’s nonprofit sector (first job was $36k) and always felt like the breaking point for not struggling here was around 55/60 (in mid 2010s dollars), everything above that has only felt like constant quality of life improvements.

It’s not to say I’m not working hard to make more (at 90+ now) in my late 30s and between my wife’s similar compensation we were still able to find a house this year, feels like enough (assuming steady but not rapid improvement) to build the life we want here.

I don’t want to throw judgement at people but I really think this is where growing up without much helped - I wouldn’t know what to do with multiples of hundreds of thousands; I wouldn’t turn it down, but really feel like my basic needs and then some have been covered for a while.

At some point it feels like you’re just doing the same stuff and buying the same stuff, just incrementally nicer versions.

Kids will change this too someday but for many reasons embracing public schools and not doing flight to the rich suburbs helps too.

Lots of patterns people get stuck in convoluting wants/nice-to-haves with needs and before you know it you don’t feel rich with a combined household income at 200+ (you’re rich, just ‘working rich’).

Hang on to that feeling! It’s a sign of good perspective!

likefunny

When you are making $500k a year, you won’t feel rich

like

Silent, Intern!!!! Or I will rescind your $40k/yr full time offer.

funnylikesmarthelpful

I make 400k+ every year. I’m increasingly hating this life and would love to go back to my family and happily live with <200k.

like

Find a job you like.

like

We make close to 500 as a family with kids. But if I ever had to choose between the two, it would be the family every single time

likesmart

SA1 - lol plenty of people make $500k in the big 4. Have you not heard of managing directors and partners? Even a couple of sr managers as a couple make $500k HHI.

Making $200k below but with a partner making $500k or more 🤣

likefunnysmart

Get it! No shame in being “kept” 🤣
Honestly though, you’re both killing it financially!

I grew up in a family (Mom/Dad/2 other siblings) that made about $60k in the early 2000s, and I felt perfectly comfortable and more importantly loved and cared for. I feel like these types of posts are so out of touch with reality.

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The post assumes that making under $200k is bad, or at least that’s the impression I get. Making $180k is a fantastic income.

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The reality is, rich people tend to be driven, with a moving target. Everyone will tell you, 10 million net worth and I’m rich. They hit 10 and it becomes 20 million. The mirage of rich is an illusion, and a moving target. Happiness is real. Seek that instead.

likesmart

He who is satisfied with what he has is truly rich.

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I know plenty of people in both, the good family is the better life.

like

Making $500k per year doesn’t make you rich - high net worth makes you rich.

like

Being rich means … owning a home, having little to no educational debt (or a substantial
Plan to pay it off easily), having any inherited wealth/assets. Then there are class Markers , which don’t replace wealth but can give you access wealth / high earning potential - expensive urban or suburban upbringing, private schools, private college, families w/ ties to higher education etc. $500k salary for a one family means something a lot different for another (ie if you have historical debt, supporting family abroad etc.)

likesmart

Deffo the latter - where’s the fun in life if you have no one to share your wealth with?

like

Here I am making 100k feeling rich af

likeuplifting

Lee that perspective. It’s easy to forget how much money most of us make vs so many.

like

To be perfectly clear, my family income of $215k and two kids under 5 is a damn comfortable living, and it's laughable to present it as anything other than upper middle class. We want for nothing. Plenty of opportunity to make more, but we would have a hell of a life if nothing at all changed

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I think depends on where you live too. I find 250K for family of 4 comfortable in NYC, but it’s still a stretch and consider it middle middle class.

I make 500+ now (recent job move) and feel much more secure, but not rich (because it’ll take years to save up the nest egg)

To me, 200k is more than I could have ever hoped for growing up so I’ll take that and the personal life happiness any day

like

For most people, it’ll be the latter.

like

family & partner (assuming that the sub-200K can provide a good life)...if there's one thing I have learned from this bowl, it's that this business is a hedonic treadmill when it comes to increased comp, everyone is satisfied, then becomes accustomed, then dissatisfied while looking for what's next.

likesmart

As if under $200k is poverty or something

likefunny

Man coming from a 98% of the actual economy job before Big 4 has me really wondering what consultants do with $200k that they can’t seem to scrape by

Like are you doing an installment plan to get your name lasered on the moon or

likefunny

@C4 been there done that! It’s all expensive.

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likefunny

Wouldn’t being in a serious relationship lead to dual / more income?

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