The rich are different, or

[janey99]

how the other half slums -

http://www.washingtonpost.com/wp-dyn/content/story/2009/08/15/ST2009081503017.html?hpid=topnews



Jane

 

[dvcgirl]

how the other half slums -

http://www.washingtonpost.com/wp-dyn/content/story/2009/08/15/ST2009081503017.html?hpid=topnews



Jane

I read this article the other day. The woman doesn't seem to grasp her new reality very well. I found it interesting how the kids were so wrapped up in "stuff" as well. She needs to get out there and shop for a new husband with a seven figure income.....

 

[twanner]

Wow.

 

[DarthKTrava]

I wish I could "get by" on ONLY $300k/year..... ZOIKS!

 

[GeorgeG]

How do we do it?

 

[MAH4546]

Why the shaking head?

I don't get what the problem here is. When somebody is used to living off of more, it can be difficult to get by on $300,000/yr.

She could probably get a live-in maid for less than $20,000 a year, though, especially in this economy.

 

[mumom95]

Can someone explain to me why she HAS to have a live-in nanny? I know lots of single moms who do not have a live in maid, and they seem to do fine.

And at the end of the story it said she was going to ask the painter if she could put off paying him until next month. Seriously? You have a live in nanny and a gardener but you don't have the money to pay the guy you hired to paint your house (who probably doesn't have a live in nanny or gardner) What is wrong with people?!

 

[MAH4546]

Can someone explain to me why she HAS to have a live-in nanny? I know lots of single moms who do not have a live in maid, and they seem to do fine.

Because it is a lifestyle that one is accustomed to.

I have always had a live-in nanny. Now, it cost me nowhere near $40,000, not even $20,000 a year, to have one, but being accustomed to it, I could not imagine not having one.

Some people have different priorities.

 

[allison443]

I read this article Sunday. It seemed like they were depicting this woman as someone suffering in the recession, however it was obvious to me that her economic problems stemmed from her divorce. Their lifestyle (home, high property taxes, upkeep, etc.) was doable on two very good incomes. Her husband now pays $75K in child support, but that is nowhere near the income he was contributing to the marriage. She is now trying to maintain that same affluent lifestyle without his salary.

 

[Buckalew11]

When she had all that $$ before the divorce she should have gotten rid of the mom jeans and bought something more fashionable. Now, she's stuck wearing them. Until she finds another rich man, I guess.

 

[clarabelle]

I don't thing it matters how much she is bringing in -she is living beyond her means.
I imagine the house would be hard to sell though.

I thought the article was a little hard to read. I didn't like the writing style

 

[dvcgirl]

I read this article Sunday. It seemed like they were depicting this woman as someone suffering in the recession, however it was obvious to me that her economic problems stemmed from her divorce. Their lifestyle (home, high property taxes, upkeep, etc.) was doable on two very good incomes. Her husband now pays $75K in child support, but that is nowhere near the income he was contributing to the marriage. She is now trying to maintain that same affluent lifestyle without his salary.

Yeah, I thought this as well. There were other scenes in the piece where the author discussed the recession, but it didn't really apply to Steins.

She's no different than many women who try to hold onto a house (and in this case a lifestyle) that they can't afford once the divorce is final. I think what was amazing is that she put herself out there like she did. Most people in that world don't talk about their finances like she did.

I found the article particularly interesting because that's what DH and I earn a year. And we save 60% of our net income....so we live on 80K a year.....and have what we think is a very comfortable life. Then again, my house didn't come with a title....lol! Also, we have no debt at all, and our property taxes are 1/5 of what she's paying. Oh, and no kids...so no nanny is necessary .

I suppose when you're used to twice that income (at least) and then are plunged down to 300K it's a tough adjustment. She seems to realize that the house has to go, but I wonder how she'll make out in a far smaller house (without a title....gasp). Her true income is 225K (with child support)....as she can't keep pulling from investments at the clip she is if she'd like to retire someday.

Oh well, I give her credit for sharing....it's interesting in hearing how people like that live.

 

[disneystacy]

I think she needs a live in Nanny. She is in a executive job and they work many long hours. She needs someone who can work all hours. That doesn't happen with a regular babysitter.
I think she realizes she can't afford the house, but she will lose a ton of money if she sells. She may even be upside down.

 

[hentob]

I like how she has a choice of what car she is going to drive, yet she has leaky pipes that she can't get fixed Sell one of the cars and pay your bills.

I like how she picks up a new dress for a party( I know--That was the author's way of saying how frugal she is--afterall--It was "just" Ann Taylor) to attend a party and buys a set of bangles on a whim, but has filthy, worn carpets and can't pay her painter


Also, it was very telling that her beloved father gave her a painting he had done of her roots...her childhood home that she loved so much.

It hangs in her spare bedroom.

She seems like an empty woman with no soul.

 

[Disney Doll]

Because it is a lifestyle that one is accustomed to.

I have always had a live-in nanny. Now, it cost me nowhere near $40,000, not even $20,000 a year, to have one, but being accustomed to it, I could not imagine not having one.

Some people have different priorities.

If I had to take $50,000 out of my savings to maintain my "priorities", I'd change my priorities.

 

[hentob]

If I had to take $50,000 out of my savings to maintain my "priorities", I'd change my priorities.

If I were "months overdue for a visit to my colorist" I would find a part time job to pay for it I found that to be the saddest part of the story

That and her horrible jeans

 

[EthansMom]

I don't think this was a very good article about the recession. The woman has only seen a 10% decrease in her income (roughly $30,000 less) but is pulling $50,000 out of her investments this year to help with her living expenses.

She needs to take a real look at her spending and make some serious adjustments to her lifestyle. Selling one car, having a part-time nanny (all of her children are in school, after all), having the pool guy and gardener come less often, and cutting back a bit on some other non-essentials would help a lot.

 

[czycropper]

I lived in a county in NJ where that's happening quite alot but not quite to that extent - we also have the "Moms that never had to work who are now having to look for work because their DH's have either been demoted or let go syndrome".

 

[Heidict]

Yeah, I'm having a hard time conjuring up much sympathy for this woman. She has champagne taste and a beer budget, as my grandmother would always say.

Seems like her priorities are on appearances and are not realistic at all with her finances.

She spends $500 a month for a gardner? She estimates that it takes between $8000 - $10000 a month to maintain her home? Wow, there are soooo many ways that she could cut corners and save herself tons of money in the long run. Maybe she needs to visit the budget board?

 

[roliepolieoliefan]

I don't have much sympathy for her either. Here's a thought, how about if she does the gardening and maintains the pool herself like us po' folks do.