Living on 500K

February 12, 2009


I was sitting in Family Court waiting for a case to be called (one of my seven for the day).  I forgot to bring reading material and sought out the NY Times on my Treo.  I do this often and check immediately for the “most emailed” articles to amuse me while I’m waiting to see the judge on behalf of my child clients.

Today, I read the Most Ludicrous Article Ever:

You Try to Live on 500K in This Town .  Apparently written in response to President Obama’s decree that banks shouldn’t pay folks more than $500,000 per year, this article seeks to demonstrate how “difficult” this will be for those folks in New York City.

A few under-75K /year women were sitting with me in court and I showed them the article.  They chuckled when I scrolled down to this quote:

“Few are playing sad cellos over the fate of such folk, especially since the collapse of the institutions they run has yielded untold financial pain.”

We agreed that we were not playing any string instruments for these folks.  Not lamenting about their losses and no sadness, but most of us nodded – we get it.  PEOPLE MAKE SO MUCH FUCKING MONEY IN NEW YORK!

“Sure, the solution may seem simple: move to Brooklyn or Hoboken, put the children in public schools and buy a MetroCard.”

Sadly, the writer followed up with a weak explanation about how the majority of  financial executives who have to deal with this limitation are men “whose identities are entwined with living a certain way in a certain neighborhood west of Third Avenue: a life of private schools, summer houses and charity galas that only a seven-figure income can stretch to cover. ” 

Really?  Repeat

“… move to Brooklyn [or QUEENS] or Hoboken, put the children in public schools and buy a MetroCard.”

It’s not the end of the world.


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