People making $300k+, how do you spend your money?

allinamd's picture
Rank: Baboon | 104

Curious about people on this forum in finance who are making anywhere north of $300k.

How do you spend your money on a month-month basis? Do you live in a luxury apartment or somewhere cheaper to build out savings? Mortgage? Do you eat out at fancy restaurants every week, still cook, or have meals delivered? Do you do your own laundry or have you outsourced a lot of these activities out?

Are you putting any savings aside or not?

Comments (102)

Jul 22, 2019

My guess is megafund PE associates making this much would lose 40% to taxes spend 10k a month and save the rest. Half of that ten would prob go to rent, with more housing spending if building equity in a mortgage.

"Truth is like poetry. And most people fucking hate poetry."

    • 1
Jul 23, 2019

40% is bulllshit whats some loopholes

my second love is loopholes

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 9, 2019

If you're a PE mega fund associate 3/4 years out of college and feel the need to live in a $5,000 apartment, you're pretty unwise. I'm not saying I save all my money; I actually don't save all that much (I know it's not the best habit, but I have faith in my future earnings potential and am not of the mind that when I am 50 I'll think "damn.. thank God I stashed away that $300k instead of exploring the world when I'm young and unobligated to a family"). However, on the same note, there are way more interesting avenues for the excess $3k to go (bridging the difference between a perfectly nice apartment and luxury apartment).

Where my money goes (let's call it $280k for to keep it simple). Idk what the hardo RE guy above is talking about, but most people my age are paying a blended ~40% tax rate in NYC. Period. I spend based on my annual take home: $90k after taxes.

Rent: $2k per month
Clothing: $1k (spread out) per month
Vacations: $15k per year (most fun spending)
Dining / "partying" - no bottle service but cool holes in the wall ain't cheap: Tbh probably $20k
Save the rest: let's call that $20k
No student loans to note of but there are obv spontaneous costs I'm missing - let's say that comes out of my "savings"

Bonus - spent 3/4 on a very nice watch (something I always wanted and am very interested in horology - sorry if I feel like I'm still justifying it to myself but am more happy than regretful, so I'm fine with that).

Save the "don't listen to this degenerate". I have no regrets living the lifestyle I dreamed of having one day during the most exciting years of my life. Anyways, that's my (likely) contrary opinion...

Oh and I don't work at a mega fund and have plenty of time for this spending.

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    • 1
Aug 16, 2019

$12k a year in clothing seems crazy.. maybe its just me

Aug 16, 2019

Is this NY? Where are you paying $2k per month - do you have a roommate or significant other paying a portion?

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Aug 16, 2019
Elite_Bulge:

If you're a PE mega fund associate 3/4 years out of college and feel the need to live in a $5,000 apartment, you're pretty unwise. I'm not saying I save all my money; I actually don't save all that much (I know it's not the best habit, but I have faith in my future earnings potential and am not of the mind that when I am 50 I'll think "damn.. thank God I stashed away that $300k instead of exploring the world when I'm young and unobligated to a family"). However, on the same note, there are way more interesting avenues for the excess $3k to go (bridging the difference between a perfectly nice apartment and luxury apartment).

Where my money goes (let's call it $280k for to keep it simple). Idk what the hardo RE guy above is talking about, but most people my age are paying a blended ~40% tax rate in NYC. Period. I spend based on my annual take home: $90k after taxes.

Rent: $2k per month
Clothing: $1k (spread out) per month
Vacations: $15k per year (most fun spending)
Dining / "partying" - no bottle service but cool holes in the wall ain't cheap: Tbh probably $20k
Save the rest: let's call that $20k
No student loans to note of but there are obv spontaneous costs I'm missing - let's say that comes out of my "savings"

Bonus - spent 3/4 on a very nice watch (something I always wanted and am very interested in horology - sorry if I feel like I'm still justifying it to myself but am more happy than regretful, so I'm fine with that).

Save the "don't listen to this degenerate". I have no regrets living the lifestyle I dreamed of having one day during the most exciting years of my life. Anyways, that's my (likely) contrary opinion...

Oh and I don't work at a mega fund and have plenty of time for this spending.

No one wants to read this bloated nonsense , foh

Aug 13, 2019

Gget a group of friends together and purchase an apartment building if you're feeling you can handle the responsibility. Live in the units and find yourself a good accountant that won't put you in a position to get jail time.

Jul 23, 2019

I fucking hate being in public. I'd pay a lot not to eat out ever again.

I spend lot of money on drugs thh

i want them to bring alinea to my house

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

    • 3
    • 3
Jul 23, 2019

You doing alright man?

    • 7
Jul 23, 2019

nah not really man. my mind and body are fucked. but im working on both and i have hope.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 23, 2019

Dinners, country club, girls, booze. Id say I spend close to $5k a month on food and booze easily. I travel quite a bit so maybe 2-3k a month on weekend vacations with (booze and food not included in there).

Jul 23, 2019

How can you spend $5k a month on food & booze? Assuming you go out 2x a week, that's still $625 spent at a time. Unless you're buying pounds of wagyu beef and $300 bottles of wine I find that hard to believe

    • 1
Jul 23, 2019

I go out for lunch 5x a week and for dinner probably 6x. Usually have a date and when you buy a bottle of wine or two at dinner for 100-200+ a piece it adds up quickly.

Jul 24, 2019

In New York that's easy lol

    • 1
Jul 23, 2019

Rent in high COL area and childcare.

    • 2
Jul 23, 2019

This.

Except replace Rent with Mortgage. and a car payment for the people mover required when you have your second kid.

Jul 23, 2019

With wife + one kid:
* Federal and state taxes
* Mortgage
* Property taxes
* Childcare
* Insurance (health, home, life, car, disability, umbrella)
* Retirement savings (max 401(k))
* Utilities (water, electricity, natural gas, car gasoline, internet, cell phone, gardener, housekeeper)
* Food (roughly in above order). We don't go out and the most expensive thing I'll drink is a $20-30 bottle of wine from Costco (if you know, you know)
* Then, random expenses (renewing random subscriptions), trip savings and investing
* After that, entertainment for the family (tickets to Disneyland, museums, family day trips, etc.)

Does not leave very much left over! Above doesn't even have a clothing or fun money allocation (electronics, etc).

    • 5
Jul 23, 2019

If it's not on blow than what are you guys doing with your lives?

    • 1
Funniest
Jul 23, 2019

this thread is boring as fuck. Let me tell you how somebody making a good income, a lot of it passively, by no means wealthy, no kids to support, is spending their money. DINKs they call us. But I have like 12 income streams and my wife has like 4. So call us 16INKs. Like I said, by no means wealthy and all the shit I "own" is really owned by a bank. I just make payments and put a lot extra to equity all the time. I would qualify as Hood Rich if I lived in the hood. I sorta live a Hood Rich lifestyle smelted with a bit of StealthWealth. Like we have Volvos and no rims, but I do drive around smoking blunts and bumping Gucci Mane in my wagon with the hula girl and cowbody hat I got in Houston sitting on the dash, yeah buddy. I'm sort of New Money Lite with an Old Money attitude and a degree of hubris where people assume I come from money, but I'm really a broke immigrant kid who just learned to speak English real well.

i'm dropping like two or three grand a month on retarded shit off amazon for starters. i spent $500 on stone gargoyles last month and caulked them down outside my front door. you know about Easter Island? I'm gonna get replicas of those next and add them to the front porch monument collection. I just set up 5 CCTV cameras around the perimeter of the property. Fencing the yard. That shit costs 4 grand. A sauna costs a grand. My house has two furnaces. Electricity costs money. I'm putting a studio in the basement. Klipsch speakers and subs everywhere. Gym equipment. I have gym shit in the yard and in two different spots in the house. A cold plunge tub that needs to be kept near freezing all the time.

OK what else we got. I'm gonna check Amazon. And for the record, people are ashamed or embarrassed or whatever to talk about money. That's a super American thing btw. If you stole your money, maybe you should be a little ashamed. But I work fucking hard and smart and I'm not ashamed of a god damn thing. With that said, brb amazon..

Oh right, I decided I'm starting a rap career yesterday while reading Gucci's autobio and I'm gonna put a studio in the basement. That's gonna run a few grand. Books. I buy a book like every day, sometimes 4 or 5. Do you know how fucking expensive it is to put custom window treatments in a 3-story house? It cost me like 4 grand. Power tools. I got this badass electric mower and it comes with this badass 82V battery that attaches to other shit, so I got all that other shit too. I got badass weedwackers and hedgetrimmers and all that shit now. All that shit's a write-off btw. I write off gifts for my mom because I was her agent on the house we bought her last year, so she's a client, and that's a gift for a client.

I'm spending like $300 a week on weed and like $100 on wine. I really need to stop drinking, so I tend to mentally omit the expense because once I decide to do something, it's mentally already done. But I haven't stopped yet. So I can't sit here and lie to you people.

I'm spending a lot on fucking teas. I get bulk deliveries of exotic herbal bullshit all the time that I keep in bigasss mason jars and I think hibiscus is beautiful to look at and delicious to drink in iced tea form with a little stevia and maybe fennel or anise seed. Supplements, sure, I'm taking like 20 capsules a day of shit and I have wifey on like 45 because she won't eat a lot of the super nutrient dense shit I eat. Speaking of which, grass-fed organ meats shipped in on dry ice I cook up on the Traeger grill.

I like spending money. It's fun. For the same reason I like running fast or having sex. Us humans, we like to fucking exert ourselves. Money is time and time is life, so spending money is an incredible exercise of power. People like to use their power. They like to see what their bodies can do. To feel their hearts beating in their chests. To see the fruits of their labor. Anyway

I went over to visit my grandparents last month, and they had a coffee table that was like 15 years old and wobbly and my grandpa had attempted to fix it and did his best trying to ghettorig it with fucking fishing line or something, but it wasn't holding up that well despite his attempts. And his health isn't great right now, so I see him bending over and fucking with this table. Anyway. I had a new one delivered the next day. I love being able to do shit like that. I wasn't always, so it's nice to be able to do that. I later got carried away and sent everyone flatscreens too. We were at the DMZ yesterday and the gift shop was selling the thickest, comfiest motherfucking zip-up hoodies I'd ever seen with hilarious shit written on them for like $50. So I got me one, my wife one, and my brother-in-law one, who is also a client and all those things will be write-offs

I break and buy a lot of expensive glass bongs, so that's an ongoing expense. I have a lot of psilocibin spore syringes delivered for scientific purposes and that's expensive. So is all the equipment I'm always buying for my herbal and fungal experiments. I basically have a lab in the basement. Only I have the key to that room.

I guess I'm indirectly paying for a lot of travel expenses. What I mean by that is I pay all the bills, so my wife spends her money booking us crazy trips. We're in SKorea right now. Came out of Singapore, which is shit btw. Japan is next, then New Zealand, then Australia, and back to NZ. I don't like travelling. It's incredibly stressful for me and I'm often drunk the entire time. It's like 5am right now and I'm squatting on this bullshit little putting area on the 14th floor roofdeck thing of this AirBNB's apartment building or whatever. I fell asleep drunk I don't know when. And my hands are literally trembling right now because I don't have alcohol in my system. I just follow my wife around from place to place, trying to catch a buzz without offending anyone at every opportunity, always carrying a book because I escape into that shit, making jokes about shit nonstop, almost getting into fist fights with Chinese tourists. Fuck it just started raining brb

Right, and spending money is an escape too obviously. Retail therapy is real. But I fucking hate mall environments and I hate brand whoring. I went to my google photos to find you guys an example of a dope shirt I'd drop money on, realized I'm wearing one, saw a pic of some Kombucha, and remembered that my wife blows through those fucking $4 kombucha bottles. I don't even allow myself that fucking luxury dawg. Mostly I don't want to drink sugar though. So that's a line item. ummmm OK I'm borred of this post now. I'm gonna make a couple posts informing you of my opinion on the various Asians and then I gotta go. I'll leave you with this pic of some shirts I copped in Italy in thrift stores.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

    • 60
    • 1
Jul 23, 2019

whoa

WSO's COO (Chief Operating Orangutan) | My Linkedin

    • 8
Jul 23, 2019
  • Rich: Gym equipment in a special gym room
  • Middle-class: Gym equipment in the bedroom
  • Working-class: Gym equipment in the garage
  • Hood: Gym equipment in the yard
  • Legit Hood: The world is your gym equipment (signs, benches, lamp posts)
    • 9
Jul 24, 2019

My sister and her husband recently moved into a house they had custom built. These fucking assholes have two identical gyms in the basement, side by side, so they can both exercise concurrently while having different shit on the TV or whatever. And the rooms are separately climate controlled. I really love hate those guys.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

    • 2
Jul 24, 2019

Rich: you own the gym

WSO's COO (Chief Operating Orangutan) | My Linkedin

    • 2
Jul 23, 2019

this is what i made this post for

    • 8
Jul 24, 2019

lol

WSO's COO (Chief Operating Orangutan) | My Linkedin

    • 1
Jul 24, 2019

god this comes off so cringe

    • 1
    • 6
Jul 28, 2019
GoldenCinderblock:

this thread is boring as fuck. Let me tell you how somebody making a good income, a lot of it passively, by no means wealthy, no kids to support, is spending their money. DINKs they call us. But I have like 12 income streams and my wife has like 4. So call us 16INKs. Like I said, by no means wealthy and all the shit I "own" is really owned by a bank. I just make payments and put a lot extra to equity all the time. I would qualify as Hood Rich if I lived in the hood. I sorta live a Hood Rich lifestyle smelted with a bit of StealthWealth. Like we have Volvos and no rims, but I do drive around smoking blunts and bumping Gucci Mane in my wagon with the hula girl and cowbody hat I got in Houston sitting on the dash, yeah buddy. I'm sort of New Money Lite with an Old Money attitude and a degree of hubris where people assume I come from money, but I'm really a broke immigrant kid who just learned to speak English real well.

i'm dropping like two or three grand a month on retarded shit off amazon for starters. i spent $500 on stone gargoyles last month and caulked them down outside my front door. you know about Easter Island? I'm gonna get replicas of those next and add them to the front porch monument collection. I just set up 5 CCTV cameras around the perimeter of the property. Fencing the yard. That shit costs 4 grand. A sauna costs a grand. My house has two furnaces. Electricity costs money. I'm putting a studio in the basement. Klipsch speakers and subs everywhere. Gym equipment. I have gym shit in the yard and in two different spots in the house. A cold plunge tub that needs to be kept near freezing all the time.

OK what else we got. I'm gonna check Amazon. And for the record, people are ashamed or embarrassed or whatever to talk about money. That's a super American thing btw. If you stole your money, maybe you should be a little ashamed. But I work fucking hard and smart and I'm not ashamed of a god damn thing. With that said, brb amazon..

Oh right, I decided I'm starting a rap career yesterday while reading Gucci's autobio and I'm gonna put a studio in the basement. That's gonna run a few grand. Books. I buy a book like every day, sometimes 4 or 5. Do you know how fucking expensive it is to put custom window treatments in a 3-story house? It cost me like 4 grand. Power tools. I got this badass electric mower and it comes with this badass 82V battery that attaches to other shit, so I got all that other shit too. I got badass weedwackers and hedgetrimmers and all that shit now. All that shit's a write-off btw. I write off gifts for my mom because I was her agent on the house we bought her last year, so she's a client, and that's a gift for a client.

I'm spending like $300 a week on weed and like $100 on wine. I really need to stop drinking, so I tend to mentally omit the expense because once I decide to do something, it's mentally already done. But I haven't stopped yet. So I can't sit here and lie to you people.

I'm spending a lot on fucking teas. I get bulk deliveries of exotic herbal bullshit all the time that I keep in bigasss mason jars and I think hibiscus is beautiful to look at and delicious to drink in iced tea form with a little stevia and maybe fennel or anise seed. Supplements, sure, I'm taking like 20 capsules a day of shit and I have wifey on like 45 because she won't eat a lot of the super nutrient dense shit I eat. Speaking of which, grass-fed organ meats shipped in on dry ice I cook up on the Traeger grill.

I like spending money. It's fun. For the same reason I like running fast or having sex. Us humans, we like to fucking exert ourselves. Money is time and time is life, so spending money is an incredible exercise of power. People like to use their power. They like to see what their bodies can do. To feel their hearts beating in their chests. To see the fruits of their labor. Anyway

I went over to visit my grandparents last month, and they had a coffee table that was like 15 years old and wobbly and my grandpa had attempted to fix it and did his best trying to ghettorig it with fucking fishing line or something, but it wasn't holding up that well despite his attempts. And his health isn't great right now, so I see him bending over and fucking with this table. Anyway. I had a new one delivered the next day. I love being able to do shit like that. I wasn't always, so it's nice to be able to do that. I later got carried away and sent everyone flatscreens too. We were at the DMZ yesterday and the gift shop was selling the thickest, comfiest motherfucking zip-up hoodies I'd ever seen with hilarious shit written on them for like $50. So I got me one, my wife one, and my brother-in-law one, who is also a client and all those things will be write-offs

I break and buy a lot of expensive glass bongs, so that's an ongoing expense. I have a lot of psilocibin spore syringes delivered for scientific purposes and that's expensive. So is all the equipment I'm always buying for my herbal and fungal experiments. I basically have a lab in the basement. Only I have the key to that room.

I guess I'm indirectly paying for a lot of travel expenses. What I mean by that is I pay all the bills, so my wife spends her money booking us crazy trips. We're in SKorea right now. Came out of Singapore, which is shit btw. Japan is next, then New Zealand, then Australia, and back to NZ. I don't like travelling. It's incredibly stressful for me and I'm often drunk the entire time. It's like 5am right now and I'm squatting on this bullshit little putting area on the 14th floor roofdeck thing of this AirBNB's apartment building or whatever. I fell asleep drunk I don't know when. And my hands are literally trembling right now because I don't have alcohol in my system. I just follow my wife around from place to place, trying to catch a buzz without offending anyone at every opportunity, always carrying a book because I escape into that shit, making jokes about shit nonstop, almost getting into fist fights with Chinese tourists. Fuck it just started raining brb

Right, and spending money is an escape too obviously. Retail therapy is real. But I fucking hate mall environments and I hate brand whoring. I went to my google photos to find you guys an example of a dope shirt I'd drop money on, realized I'm wearing one, saw a pic of some Kombucha, and remembered that my wife blows through those fucking $4 kombucha bottles. I don't even allow myself that fucking luxury dawg. Mostly I don't want to drink sugar though. So that's a line item. ummmm OK I'm borred of this post now. I'm gonna make a couple posts informing you of my opinion on the various Asians and then I gotta go. I'll leave you with this pic of some shirts I copped in Italy in thrift stores.

This made my day.

    • 4
Jul 29, 2019

What do you drink is the real question?

Jul 31, 2019

I posted in that what do you drink thread on the first page

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 29, 2019

This is fucking amazing

Jul 29, 2019

You never fail to make my day Goldie

Jul 31, 2019

I feel like your drugs aren't hard enough.

    • 1
Aug 7, 2019

I also see that you LOVE coke

Aug 9, 2019

Nope I don't even fuck with caffeine anymore. It's called hypomania and I exist in a state of it more often than not.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 9, 2019

You're honestly my inspiration

Aug 16, 2019

this guy fucks

Aug 17, 2019
CRE-Finance:

this guy fucks

I thought we had a CRE already. What gives?

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 16, 2019

that was incredible. there's something about your brain man it seems to just fire

Aug 16, 2019

I have to ask, you obviously know that the rap career thing will go nowhere. Will you consider it a waste of time/money? Will you let the equipment collect dust taking up space in the basement years after you've used it for the last time because it's too depressing to deal with it? I have to imagine that the lifestyle of traveling would bother you. You are particular about your diet and I'm sure it slips while traveling and you lose progress and put yourself in a hole.

Aug 17, 2019
sl55amg:

I have to ask, you obviously know that the rap career thing will go nowhere. Will you consider it a waste of time/money? Will you let the equipment collect dust taking up space in the basement years after you've used it for the last time because it's too depressing to deal with it? I have to imagine that the lifestyle of traveling would bother you. You are particular about your diet and I'm sure it slips while traveling and you lose progress and put yourself in a hole.

Well first off, let me just inform you that Boney M made an amazing song called Rasputin. I'll just leave it here for you to puruse. Once the spirit of this sonnet has saturated your soul, you will be ready for my response.

OK now second off, your Obvious Sensor is broken. What you said is obvious most certainly is not because I do not believe that to be the case for a single moment, so it can not be obvious because it is not the case.

Next, I can definitely do it if I want to. Not necessarily Drake-level fame. But I can get to a place where I can make a good living rapping if I want to. I'm picturing myself in a more Dr. Dre-type role though. A producer and music business guy who can also rap. So I'm learning audio engineering and building a studio right now. I cut the trip short. I left Melbourne 4 days ago alone. Most music people try to come up slowly and release stuff as they make it. Immma do it Goldie style. I'm gonna become super proficient in something people consider it normal to take a long time getting proficient in; but I'm gonna do it quickly. I'm gonna produce all my own beats for like 5 different mixtapes, rap on them all myself, and then drop it all simultenously and continue being prolific, which is incredibly easy to do sober, which is not incredibly easy in the slightest.

Will I consider it a waste? That is a hilarious question in the context of my life specifically.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 23, 2019

Shotgun ammo and canned food and a bunker at an undisclosed location with a defensible water source.

Array

Jul 23, 2019

I don't spend much and reinvest almost all of it into new deals.

$100k to $120k in living expenses. This can go up to $200k+ on a run rate basis but it's because I have to move for work or travel extensively sometimes. IE I was in a hotel for like 2 weeks before grabbing an apartment.

Maintain about $100k to $150k in watches but I buy/sell profitably.

And I splurge on clothes sometimes but I'm good about buying on sale and don't have anything too ridiculous. Have some Kiton/Isaia/Attolini/etc but I got it all dirt cheap.

Not a huge drinker or anything like that.

TTM earnings are $1m+ and I'll make between $1M to $1.5M this year most likely.

Jul 24, 2019

what do you do lol

Jul 24, 2019

Founded a few successful DNVBs, sold them or held them for dividends, and reinvested in other DNVBs + eCommerce companies.

Aug 5, 2019

What's up with the hate on someone who is successful and honestly shares their lifestyle. This person worked hard for their money and doesn't deserved to be basically hated or thrown monkey sh*t at because the person is successful. I would love to hear more people who are successful like this person.

    • 1
Jul 24, 2019

two county clubs - golf
wine
two cars
shoes
more wine
traveling
dining out
art
more wine
savings
season tickets - mlb, nfl, nba - share with others on each sport so not full cost
more wine

live in high rise, clean my own place, wash my own clothes and cook a few times a week

also donate about 20k-40k a year

Jul 24, 2019

I'm currently taking donations.

Jul 29, 2019

I hear you on the wine

    • 2
Jul 27, 2019

I bought all of the laffy taffy so that wonka doesn't have any more to make more laffy taffy with. Its just taffy if it aint all cut from the same cloth.

    • 2
Jul 28, 2019

CHF 180K base and I make around CHF 300K all in with bonus. I pay my ex-wife CHF 36K in alimony and divorce payments and spend a further CHF 20K a year on hookers and call-girls.

Aug 8, 2019

Brilliant. Is that 36K pretax or post tax? You kinda f'd up by getting married if you're white..

Jul 28, 2019

Spend about 5k a month on living expenses. I was once told (and still agree with) live on your salary, save your entire bonus.

    • 1
Jul 28, 2019

Bookmarked this post so I can come back to it and let you know once I'm making that

    • 3
Jul 29, 2019

I make north of 300k in ZWD. Can't do much other then bowling every other month tbh.

    • 3
Most Helpful
Jul 31, 2019

Freedom.

It's the only thing worth buying.

My view is the counter to what most finance people do with money.
I live a very simple and humble life, and disdain luxuries.
Instead. I buy streams of income (invest) and am fighting for my own financial freedom.
I invested in my own education, and now I invest in my son's education.
If we need healthcare, I definitely splurge on that and get the best care money can buy.
But outside of education or healthcare, all my money gets saved and invested.

To me, I've never liked fancy dinners. I mostly cook at home.

I don't own a car. No need.

We don't own our apartment; we rent.
But we do own a number of rental apartments.

I've invested in / started a few companies as a co-founder, and own equity in those.
So I have some private company stakes.

Even when I was at a BB ibank, I rented a cheap tiny studio for $650/month, and cooked at home instead of going out or getting a bigger place.

Likely it's driven by growing up poor, from seeing my dad die young and leave us to fend for ourselves, or from being an immigrant from a country that generally disdains luxuries.

Or maybe it's because I graduated into a recession that taught me the importance of covering the basic expenses, and how painful it can be if you can't make the minimum.

But frankly I don't think I ever really learned to enjoy the "finer things in life" either.
To me, there's no joy in fancy dinners, fancy homes, or fancy clothes.

But there is real peace of mind knowing I can get up and walk out of a job any time, and live off other income streams for the rest of my life.
I am my own master. No one owns me.
I can walk the earth like Cain from Kung Fu.

There's joy in knowing my son will have a decent life, can go to the university and grad school of his choice, and can one day choose his career without worrying about debt and food money.

There's happiness knowing my wife doesn't have to work.
She chooses not to, and stays home to take care of the little monkey instead.

I prefer our way. The simple way. The only thing I want to buy - is freedom.

    • 17
    • 1
Jul 31, 2019

But what if you could do all that shit and still live like a baller?

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 31, 2019

Honestly, I really don't care about the fancy stuff.

It's genuinely wasted on me.

My happiness is inversely proportional to the amount of stuff I have.

I prefer to have things kept simple.

If I was balling, and I mean REALLY balling, to me that's money that's better spent on new experiences (eg. take the whole family traveling the world), starting companies, investing, saving, donations to charity.

Jul 31, 2019

"So what I rap for, to push a fuckin Rav-4?"

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

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Jul 31, 2019

I'm actually in the market for a 2012 Rav4. They're sweet cars.

Jul 31, 2019

Yeah no hate on Toyotas but that's a funny line by Kanye

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 5, 2019

I actually have a white 2012 RAV in Palo Alto I can sell you. My mom is driving it because her car is stuck in Hawaii while she works in Palo Alto and I don't need one.

If you are serious shoot me a message.

Aug 5, 2019
GoldenCinderblock:

"So what I rap for, to push a fuckin Rav-4?"

The line is... "what you think I rap for? To push a fuckin Rav-4?"

and is an allusion to Scarface's...

"Give niggaz a break, nah, you know how the game go
Fuck you think I slang fo', to go against the grain (no)
I'm out here to grind mo', wrapped up in the paper chase
I wanna fuck a fine hoe and candy paint the 88"

From the song "Guess Who's Back" featuring Jay-Z and Beanie Sigel, produced by Kanye West

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Jul 31, 2019

Just sharing my own perspective on where I spend the money (or rather, DON'T spend the money) per OP's request.

My lack of spending on nice dinners or whatnot is in no way a judgement on anyone else's spending.

It's your money and YOU SHOULD spend it where it makes YOU happy.

My comment on my lack of spending money is just sharing that to me, spending on material things has never given me any joy.

To me, a dinner is a dinner, and personally I LOVE Chipotle, and wouldn't see the point of going to a fancy French restaurant if it means I miss out on my Chipotle rice and beans burrito bowl.

And I just put a very high value on freedom, so wanted to share w/ OP that where I spend money is on freedom.

To each his own.

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Aug 5, 2019
earthwalker7:

Just sharing my own perspective on where I spend the money (or rather, DON'T spend the money) per OP's request.

My lack of spending on nice dinners or whatnot is in no way a judgement on anyone else's spending.

It's your money and YOU SHOULD spend it where it makes YOU happy.

My comment on my lack of spending money is just sharing that to me, spending on material things has never given me any joy.

To me, a dinner is a dinner, and personally I LOVE Chipotle, and wouldn't see the point of going to a fancy French restaurant if it means I miss out on my Chipotle rice and beans burrito bowl.

And I just put a very high value on freedom, so wanted to share w/ OP that where I spend money is on freedom.

To each his own.

I love Chipotle too but consider myself a foodie. It's not about the fanciness of the experience but trying something unique and different and something I almost certainly can't cook myself is appealing. So from that perspective I disgree with you. I went on vacation to Mexico earlier in the summer and one of my goals was to eat at some of the top restaurants in the country, and I did that a few times. Well worth the $200-$300 per meal between me and the GF because it was that great of an experience.

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Jul 31, 2019

Let me also share another story - one of my buddies is in IBD for a BB in London, and is now mid-senior level.

He uses his work-derived frequent flier miles to travel somewhere awesome in Europe every weekend.

That to me is a genius use of money as it gives him new cultural experiences.

Jul 31, 2019

That's dope. I get to do a similar perk for myself. I run thousands and thousands of dollars every month through personal and business credit cards and get reimbursed cash for it at the end of the month, so I get mad miles and shit. I put as many property management -related expenses on credit as possible. The landlords don't give a shit. It's a win-win. And I agree with you on the travel shit too.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

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Jul 31, 2019

That's dope. I get to do a similar perk for myself. I run thousands and thousands of dollars every month through personal and business credit cards and get reimbursed cash for it at the end of the month, so I get mad miles and shit. Seven grand on appliances at Abt? Thank you very much. New deck? Thank you very much. It's great. I put as many property management -related expenses on credit as possible. The landlords don't give a shit. It's a win-win. And I agree with you on the travel shit too.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 31, 2019

that's awesome!
I need to follow your way and travel more.

Experiences are something I'd definitely splurge on, and need to do more of.
And if you have frequent flier miles from work, travel does not have to be expensive.

How much is a youth hostel in LatAm or North Africa anyway, right?

Jul 31, 2019

The other thing worth remembering - just because you're eating today, doesn't mean you ain't starving tomorrow.

For a lot of young ibankers, they feel like they've finally made it once they get their job.
Fact is, ibanking isn't stable and it's a young man's game.
S&T is shrinking too.
The banks cut at the top, bottom and in the middle.
Just because you've got money coming in now, does not mean that the job will be there tomorrow.

I've been broke. And I mean, broke broke.
I know what it's like not to be able to make payments, to have the bank and credit card companies call, and not have an out.

So to me, the idea of spending money on luxuries is not interesting.
And I'd advise anyone and everyone - don't waste the money.
If you've got it, grow it and invest it.

That way you can always afford the necessities and basics.

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Jul 31, 2019

Spot on - A lot of people just assume they'll always have their nice job and don't account for any variations in their plans. I'm with you on not wasting on luxuries and would rather just invest it.

Jul 31, 2019

Learned a lot from you @earthwalker7 , and would like to learn more.

You've been a great inspiration and the advice/feedback I received from you I am grateful for.

No pain no game.

Aug 1, 2019

thanks buddy!
Very kind of you.

Jul 31, 2019

2 chicks at the same time

Jul 31, 2019

Now there's an investment I think we can all get behind!

(pun intended)

Jul 31, 2019

A nice apartment I can have people over at and want to actually invite girls over to - $40k / year
Two nice 10-day vacations where I do what I want - $20k / year
Eat and drink at nice restaurants and bars as much as I want - $60-70k / year
Rest of my expenses are close to nothing so I end up saving $150-200K

Jul 31, 2019

damn that's a lot to spend on dining. Like, I'm sure it's not hard if you try. That's just a lot to me.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 31, 2019

Damn, crazy that you can spend that much money and still able to save so much

Aug 10, 2019

how much food and drink do you consume?? jeez

Aug 8, 2019
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