U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 07-12-2013, 01:51 PM
 
Location: Crooklyn, New York
27,611 posts, read 24,787,463 times
Reputation: 11181

Advertisements

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?
Quick reply to this message

 
Old 07-12-2013, 02:17 PM
 
1,119 posts, read 2,171,377 times
Reputation: 873
How much is five million dollars after tax? I make less than 2% of that and I have no idea.
Quick reply to this message
 
Old 07-12-2013, 02:31 PM
PDF
 
11,386 posts, read 9,848,968 times
Reputation: 6580
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.
Quick reply to this message
 
Old 07-12-2013, 03:01 PM
 
Location: Riverdale, New York
1,283 posts, read 1,893,356 times
Reputation: 300
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.
Quick reply to this message
 
Old 07-12-2013, 03:02 PM
 
Location: Crooklyn, New York
27,611 posts, read 24,787,463 times
Reputation: 11181
Quote:
Originally Posted by PDF View Post
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.
Quick reply to this message
 
Old 07-12-2013, 03:06 PM
 
Location: Crooklyn, New York
27,611 posts, read 24,787,463 times
Reputation: 11181
Quote:
Originally Posted by bill83 View Post
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.
Quick reply to this message
 
Old 07-12-2013, 03:13 PM
 
Location: Crooklyn, New York
27,611 posts, read 24,787,463 times
Reputation: 11181
You could easily afford a place like this on a $5 million salary.

985 Park Avenue, Condo Garden Triplex, New York, New YorkUnited States

I like this place better. The bathroom's a bit underwhelming for $8.4 million though.

8 Union Square South, New York, New YorkUnited States
Quick reply to this message
 
Old 07-12-2013, 03:15 PM
 
4,783 posts, read 4,663,039 times
Reputation: 5521
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.
Quick reply to this message
 
Old 07-12-2013, 03:20 PM
 
Location: Riverdale, New York
1,283 posts, read 1,893,356 times
Reputation: 300
Quote:
Originally Posted by city living View Post
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.
LOL... What's wrong with living in a co-op?
Quick reply to this message
 
Old 07-12-2013, 03:22 PM
 
Location: Crooklyn, New York
27,611 posts, read 24,787,463 times
Reputation: 11181
Quote:
Originally Posted by city living View Post
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.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top