Quote:
Originally Posted by jIM_Ohio
the problems a person making 200k or $2 M will have which are different would be tax shelters and other topics like that which are different than the tax situation of a person making 50k or 100k will see.
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Another problem that higher income earners have is peer pressure. When everyone you know earns 30K, there isn't nearly as much pressure to drive fancy cars, live in a big house, have a huge home theater system, take exotic vacations, etc. Once you start earning big money, though, you find yourself surrounded by luxury and start thinking that is the way you are supposed to live.
I can tell you that although I am a physician, I have exactly zero friends who are physicians. Why? Because my wife and I made a conscious choice years ago not to live the lifestyle people expect for our income level.
If you let yourself get sucked into the lifestyle of the rich and famous, it is hard to get ahead financially.