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I've never really thought about the lifestyle of the wealthy in NYC because I'm, well, not one of them. But if you had a $5 million annual salary, what would be your ideal lifestyle in New York? Where would you live? Would you have a driver? Knicks seats next to Spike? Would having $5 million in NYC be better than having $5 million in other U.S. cities?
Although your 5 million wouldn't go as far in NYC as it would in other cities across the US, it'd be enough to live on a for a long time. I certainly wouldn't go flashy like having a driver or buying courtside Knicks seats.
I'd take the subway like normal, and just live a normal lifestyle. But I'd probably get a nice place in Battery Park City or another neighborhood of my choosing.
And of course you would have enough money to not have to worry about money in terms of entertainment and going out.
I'd buy a nice vacation spot in the Hamptons as an investment. Then I'd probably look to see if I could get any more property on the cheap here in Riverdale and put the rest away. I'd take out some money to travel for a while and live the life.
Although your 5 million wouldn't go as far in NYC as it would in other cities across the US, it'd be enough to live on a for a long time. I certainly wouldn't go flashy like having a driver or buying courtside Knicks seats.
I said $5 million per year. Not a $5 million lump sum like a lottery payout.
How much is five million dollars after tax? I make less than 2% of that and I have no idea.
I did say "salary" though I'd imagine most people earning that much in NYC are getting the bulk of it through capital gains. But let's assume the Feds and the State are taking half of your paycheck leaving you with $2.5 million net income.
I would probably own a house and not a coop.
I would probably go out to eat all of the time.
I would travel more often.
I would still avoid living in Manhattan.
And I'd still be cheap and shop sales.
I would probably own a house and not a coop.
I would probably go out to eat all of the time.
I would travel more often.
I would still avoid living in Manhattan.
And I'd still be cheap and shop sales.
I would probably own a house and not a coop.
I would probably go out to eat all of the time.
I would travel more often.
I would still avoid living in Manhattan.
And I'd still be cheap and shop sales.
Sales on what? Cereal? Toothpaste?
If I'm pulling down $5 million a year, I'm getting a personal shopper.
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