I find this article so frustrating in part because his anxieties (which I am sure are real) about money are of his own making, and he doesn't seem interested in doing anything about them. He could downsize his house, move his money from admittedly risky investments into safer ones, broaden his experience and social circles so that he understands that a Lexus is not an "average" car, funnel his extra money into college funds for his kids, etc. He says he reads all of these books about investing - including the very good "Millionaire Next Door" - but I don't think he understands them, or absorbed any of their principes. I commented above that he reminds me of Dr. Drew Baird from 30 Rock, he also reminds me of Sherman McCoy from the Bonfire of the Vanities, especially in the chapter where Sherman wonders how he could possibly spend his entire salary of $1,000,000 each year, then goes through his purchases and justifies them -- OF COURSE his daughter deserved $20,000 window treatments for her room! He feels like he is financially precarious. Millions of people feel like that. But unlike those millions of people, Jake's ability to do something about that feeling is entirely within his grasp, and he doesn't seem to realize it.
@olivia Yes. My dad is A Rich Person and constantly creates pressure for himself this way. Every time we talk, he complains to me about all the maintenance he has to do on his four cars and two houses, and I am just physically incapable of sympathizing. You are one person and you live alone! Why do you have four cars??
@laluchita And 3 cars but 2 adults? What? That just makes no sense whatsoever. I bet if he simplified things and had like say, 2 cars, and 1 house with a mortgage that was less than $700k, he'd feel a lot more secure. Because maintaining all that must feel like a ton of pressure. But you don't HAVE to maintain all that!
I hope Jake will derive some measure of peace from this reassurance: NOPE, YOU'RE DEFINITELY RICH; NO NEED TO WORRY ON THAT FRONT BUDDY Also: "I took the opposite approach and am frugal." Haaaaaaaaa
This is insane. I really want to appreciate this and feel compassion for this person. Kids are expensive. Homeownership is expensive. He has responsibilities I don't have. But he makes almost 15 times what I make, and I make more than most of my friends. I mean, this is just totally crazy. This guy needs to chill out, be happy, and enjoy what he has. Move to a modern house, drive a nice Ford, and calm down. Or, just stay where he is and enjoy it! Sounds like he's doing everything right. Ugh, I can't even form a coherent sentence, I'm so blown away. Be happy, dude. You're doing good. You are very wealthy.
@Megano! Totally--I feel pretty rich most days, and I MOST DEFINITELY do not have a $700k mortgage and a personal chef and a $32k car and years worth of cushion.
Wow, you have a 2-3 year cushion and STILL don't feel rich!? That is just...insane. I can't imagine having that much of a cushion for just myself, much less 4 other people.
I just... I can't even... HOW IS A $32,000 LEXUS AN AVERAGE CAR? I just can't feel sorry for this guy's money worries when he is living with 3 cars and 3 houses and a 3 year cash cushion in savings. I honestly can't imagine how anyone could be so un self aware.
@olivia Upon reflection I think it stuck out to me so much because it's emblematic of the insane level of lifestyle creep that allows someone who makes $500k+ a year feel not rich.
My kingdom for a glimpse of the photo session of that one tabby in San Diego.