What matters more than income is wealth. When you become a high earner especially in cities like NYC and SF, you learn about the power of inter-generational wealth and the opportunities it affords. You see it every day. You become acutely aware about how unfair the world is, and how it will only become increasingly unfair as the truly wealthy entrench their power. Forget about lifestyle creep, if you are self aware parent who wants an easy life for their kids, you start having wealth creep. You don't just want to hit a number where you can retire in a low cost area. You want enough wealth to buy your kids access. Access you didn't have when you were clawing yourself up to a high income and would have made things alot easier. Access that eliminates the need for luck.
Inter-generational wealth could require you to leave behind 10M+ for 2-3 kids. A property each.
For those of you who scoff and say that is ridiculous, you probably don't share the paradigm that the world is unfair and becoming increasingly unfair to overly benefit the wealthy. Or you are fine with letting your kids fight for themselves in this world. I wish I didn't have the above paradigm, but I have seen TOO much and that is the worldview I have.
Inter-generational wealth could require you to leave behind 10M+ for 2-3 kids. A property each.
For those of you who scoff and say that is ridiculous, you probably don't share the paradigm that the world is unfair and becoming increasingly unfair to overly benefit the wealthy. Or you are fine with letting your kids fight for themselves in this world. I wish I didn't have the above paradigm, but I have seen TOO much and that is the worldview I have.