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Originally Posted by jamreed02
out of sheer curiosity: How do those of you that make over 100K actually spend it all???
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Well, I can't really answer that because, like lucasrd, we don't spend it all. We currently save about 27% of our income.
We do enjoy travel. Last year, we spent about 12K on travel. And if we had the time available, we would definitely travel more. That is one thing I look forward to doing in retirement.
We bought a modest home. We paid 142K in 1994. But I know many people who have McMansions and the upkeep on those homes is quite substantial. So even if the mortgage were paid off, just continuing to live there is quite costly.
We drive non-extravagant cars: a '98 Toyota Camry and a '02 Toyota Sienna, both bought used. But lots of folks are driving Lexus, Infiniti, BMW, Mercedes, etc. You can certainly spend 60K or more on a car (not that I would).
Dining out adds up really fast. We don't care for fast food, so if we go out to eat, it is at least a nice family restaurant or better.
Our daughter goes to public school, but many of my colleagues send their kids to private school and pay prices approaching college tuition levels for school.
I could list lots of other ways people spend their money, like $2,000 plasma tvs, digital cable for $100+/month, landscaping their homes, detailing their cars, etc.