According to one estimate, wealthy couples in NYC need $190 million to keep their heads above water

[steve2470]

(yes a real headline. What ?!)

http://www.businessinsider.com/how-much-money-to-be-rich-2017-11

An analyst from US Trust cited in the Town & Country report estimated the hypothetical couple would need to have a net worth of $190 million to sustain this lifestyle.

Here are some of the costs considered in the estimate:

Real estate: $18 million apartment on Fifth Avenue facing Central Park, $2 million for furniture and decor, $20 million for a weekend home in the Hamptons and a vacation spot in the Caribbean.

Education: $1.7 million a child for a "no-expense-spared educational strategy," which includes private school and tutors, music lessons, sports, trips abroad, and four-year Ivy League tuition.

Ah yes, our new Gilded Age. Sigh.

eta: original source here

[Not Ruth]

1. No country house or ski chalet? Peasants......

[BigmanPigman]

2. Look at the source...Town and Country.

[steve2470]

3. yep

Oh, those poor rich people, whatever will we do? Oh the humanity!

[onethatcares]

4. let them drown

or they could both get second jobs (the horror) and never see each other.

I have a very hard time feeling sorry for this hypothetical couple.

[Angry Dragon]

5. sickoos

[MFM008]

6. So do we.

That would be nice..................................

[genxlib]

7. Of course this is disgusting

But I would like to point out the particular thing that boils me.

So amidst all kinds of arbitrary expenses for art, staff, vanity health, etc, they set aside 50k for charity

So this formula gives away .026% of their wealth every year and is a fraction of their frivolous expenses. (And that is if you consider a museum a charity).

I was raised a Christian and left it behind long ago. The one thing I didn't leave behind is the idea of a tithe. I still try to give 10% of my annual income to good causes.

This pisses me off. I don't even understand it. One of my favorite reasons to have money is the joy of being generous.

[steve2470]

9. I think their 0.026% is done to assuage their guilt and it's socially expected

This disgusting story is related to why the whole 1% meme got started. This particular couple is pretty selfish to say the least. It's just obscene. I worry about money every day, like many people, and this is just galling.

[meow2u3]

8. My hemorrhoids bleed for them

Have those richie riches tried not flaunting their wealth?

[unblock]

10. more spending on furniture and decor than on a lifetime of education!

priorities!

[L. Coyote]

11. What about the yacht in Florida for those cold days in NY?

Seriously, don't they know how to live?

[Blue_true]

12. We have become.

A society consumed by material things instead of finding spirature wholeness. That is sad.

BTW, before you attack me, finding spirature wholeness has NOTHING to do with religion or what a person professes to be.

[steve2470]

13. with all due respect....

the word you're using