<p>Some crazy comments in this article. They need to move to NJ, so they don’t need to spend $35,000 to send a 10year old to school. </p>
<p>I know way too many people like these folks that live far above their means. When I’m retired in a few years, they will still be sweating how to put their kids through college.</p>
<p>[Wall</a> Street Bonus Drop Means Trading Aspen for Discount Cereal - Bloomberg](<a href=“Bloomberg - Are you a robot?”>Bloomberg - Are you a robot?)</p>
<p>Puff piece…not defending any of the people in story, but who cares what they do with their money,just because they earn more then 99% of the population doesn’t mean they are smarter with their money…they likely support more jobs with their spending habits then 10 others with more modest incomes combined</p>
<p>They make their money by taking from other people.</p>
<p>Did you know that hedge funds owners and employees historically make 97% of the returns above treasuries and investors get 3%?</p>
<p>That means an investor might as well be in treasuries.</p>
<p>Look…if people want to give others their money…that is their business…but this idea that the beneficiaries of this are creating jobs is bs.</p>
<p>Am I actually sorry for some of them. They been living the dream but in reality they have a nightmare on their hands. </p>
<p>The guy sends his kid to private school but do we know what the alternative is in the story. I don’t want to send my kids to public school anymore because they got beat up and most of the stuff including homework got stolen in both first and second grade. I live in the suburbs so it is not just an inner city problem. He is in his mid 40’s and still can not afford a home. </p>
<p>I much rather live on 50 to 75k a year in many areas than 250k a year in NYC.</p>
<p>The people in article were not hedge fund owners,…and i bet the dog walker who earns 17 bucks a walk doesn’t care who the rich guy works for. ;)</p>
<p>Same goes for the rental agent for their summer homes,could care less where the money comes from…</p>
<p>Same goes for the car salesmen</p>
<p>Lol…qdogpa…</p>
<p>There are individuals in every income bracket who mismanage their finances. This shouldn’t be a big surprise. The people in this article aren’t representative of the many I know who are earning high incomes. Most plan well, save, have extensive investments and plan for retirement. This kind of article makes it easy for people who want to feel good about the misfortune of others, particularly those who earn a lot more than they do.</p>
<p>[Why</a> the super-rich love the UK | Society | The Guardian](<a href=“http://www.guardian.co.uk/society/2012/feb/24/why-super-rich-love-uk]Why”>Why the super-rich love the UK | Society | The Guardian)</p>
<p>This was an amusing article, and informative. Note that Harvard is considered part of the very wealthy index.</p>
<p>And i’d rather live in NYC area or other major northeast city then anywhere else until you reach the west coast</p>
<p>Alwaysamom, well said</p>
<p>Why do people have to feel good or bad?</p>
<p>It’s interesting to see how the psychology of people and the psychology of groups work.</p>
<p>What may have been within their means for the entirety of their careers may have changed this year. Certain things are universal, like the pain of losing your home or a kid having to change schools unexpectedly. Not great tragedies, but miserable for anyone, regardless of income, going through them.</p>
<p>So, it’s self-inflicted, too.
</p>
<p>What are they thinking?</p>
<p>Someone I worked with for many years had compensation of several million dollars a year going back 20 years. He gave me the best financial adivce I ever received, which was a variation on “live below your means.” He prepared for retirement, his kids’ education, bought a home early in his career that is still suitable 30 years later.</p>
<p>Two years ago there was a giant shake-up in the partnership at the same time the general counsel of his largest client of decades retired. When the dust settled, he was asked to leave the partnership (along with other partners) and the new general counsel decided that her work should only go to a female-led team (which is her right). His wife also decided that she needed to be free and one of his kids started college this year, the second goes in two years. Mother doesn’t want to parent, but would only give him more time/authority with the kids at a very, very, very steep cost that will continue into his old age. He agreed to pay it, despite being a savvy lawyer, because he would pay anything to have more time with the kids. To say that his financial situation has declined isn’t even in the ballpark. Yes, he’s the top 1%, but his finances are not quite so pretty as one would judge looking in.</p>
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<p>It could very well be written that most people in the US don’t save and still be true.</p>
<p>Writer of the article has an agenda.</p>
<p>I always tell my kids, wealth is not how much you make, it’s how much you save.</p>
<p>That guy in the article is in his 40’s, makes $350K plus bonuses and is freaking out and cursing on the highway because his bonus wasn’t as big as he’d hoped? Cry me a river. Puleeze.</p>
<p>People should live their lives, whenever possible, with enough in savings (liquid) to cover at least 6 mos of expenses. I just do not get the people that live like the 3 little pigs who built their house out of sticks and straw. I just don’t get it.</p>
<p>Me either, jym.</p>
<p>Whoa-- I thought one of the names in that article sounded familiar. One of the guys complaining about his costs was a college classmate of mine! I could consider friending him on FB but he might hit me up for a loan ;)</p>
<p>"The people in article were not hedge fund owners,…and i bet the dog walker who earns 17 bucks a walk doesn’t care who the rich guy works for. </p>
<p>Same goes for the rental agent for their summer homes,could care less where the money comes from…</p>
<p>Same goes for the car salesmen "</p>
<p>Been saying this for years. The spending ways of the rich have kept many people comfortable and employed. I do not think owning lots of bonds or stocks has the same effect on others. Not much point in having money if you cannot enjoy some of the benefits (within some reason). Everyone gets old and dies sooner than you think. Enjoying it is important.</p>
<p>Barrons, i live by the same mantra…critics of the rich just look at the dollar value of income and not what these people may spend…those who earn the national average of 50k are not paying a dog walker 17 bucks an hour,likley don’t employ a single person…people need to live their own lives and not worry about those who may or may not have more resources</p>
<p>Many middle class businesses rely on the wealthy for their success…</p>