Comments on: Living in “poverty” on $500,000 a year

By: Nikki

Nikki — Sat, 21 Feb 2009 06:41:29 +0000

I think the lifestyle change will be very though for the execs. Americans spend 98% of their income as a whole (that doesn't give you alot of wiggle room when you see an income drop). And most people have a hard time reducing there expenses once they see a downward change. Nikki’s last blog post..Save $93.08 - Drink Less Soda

By: Margot

Margot — Wed, 18 Feb 2009 17:00:13 +0000

Glad you mentioned this article. I was amazed when I read it, because I kept waiting for the irony and the satire, but it never came. While I feel no sympathy about it, I can see how it might be hard on kids to have to move out of private school. But, I was amazed that they wrote in all seriousness that it would be a hardship for someone to give up spending $240,000 (half their theoretical income!) on a summer home. I’m sure they would suffer a lot staying in their fancy Manhattan home and just taking normal weekend trips! This article is such a reflection on how much our country’s economic mindset needs to change. It’s like people think they are entitled to forever maintain privileged lifestyles once they initially obtain them.

By: Carla

Carla — Wed, 18 Feb 2009 07:16:35 +0000

I agree. Give me a break. Living within your means is smart no matter how much money you make. Carla’s last blog post..Another birthday and some updates

By: Kelly

Kelly — Wed, 18 Feb 2009 00:13:31 +0000

Honestly, I feel sorry for some of these "executives." I would much rather be living below my means on my family's comparatively meager income, than be making a ton of money but living above my means as they are. Over spending is such a sickness. I just hope this might be a first step for some of them toward making better financial decisions. Kelly’s last blog post..did you know that February is national hot breakfast month?

By: anne

anne — Tue, 17 Feb 2009 17:50:21 +0000

It does seem absurd to most of us… but even these cuts affect “average” Americans. Just think, the nanny is now unemployed, the chaffeur loses his job, the travel industry goes down, etc, etc. I’m not saying these executives are victims, but it could create a negative trickle-down effect??

By: Kacie

Kacie — Tue, 17 Feb 2009 16:04:02 +0000

But they won’t have a nanny! Or private school! THINK OF THE CHILDREN!!!