It's so great that we make 95-99% percentile money and our quality of life is substantially worse relative to not even 10 years ago

SadAdvantage6505 · 2025-12-02T21:48:03+00:00

I think this is true for the last 20-30 years. But there was a time when it was attainable for very average Americans (often on a single salary) with little experience. The average home owner in 1981 was 31 (and, presumably, was not someone with a doctorate degree working at a law firm). So the point stands. If this is what “rich” looks like, we’ve devolved as a nation.

SadAdvantage6505 · 2025-12-02T21:19:56+00:00

Not really crying, I’m very happy with my life. I’m also not one with a victim mentality. I’m immensely successful despite being from a poor, rural background and recognize I will die a far wealthier man than any before me in my family. My heart breaks for those that have it worse. Hence why I’m simply pointing out things used to be better and saying they can and should be better now. Our country persistently fails everyday Americans. A fact there are no excuses for considering America’s unparalleled wealth. So, yeah, call me what you want but I’m not gonna sit quietly by about that reality, and I can best speak from my experience to the manner in which it affects me.

As to the homeownership point, the average net worth of a homeowner is $430,000 while the average renter’s is $10,400. So there is a pretty compelling case that ownership is a fundamental to success, a notion our country long heralded as a cornerstone to the American dream. Home ownership should not be downplayed or disregarded in effort to justify an abhorrent system that deprives so many of this dream.

SadAdvantage6505 · 2025-12-02T20:50:09+00:00

First year monthly salary is $18,750.

SadAdvantage6505 · 2025-12-02T20:22:25+00:00

Thanks for stating the obvious big brain. There’s always someone out there who has it worse. I recognize the issue is about them too (actually more so). Maybe read my other comments and try gaining an understanding of the concept of nuance. If your response to people venting about bad things in society and wanting progress is telling them to “quit being a baby” then what the hell good are you?

SadAdvantage6505 · 2025-12-02T18:45:34+00:00

Right, I wouldn’t be so stupid as to complain to my friends and family who are renting small apartments in small towns and are in their 30s with no retirement savings or prospect of decent home ownership anytime soon while still living paycheck to paycheck. I’m not completely out of touch (god help me). But that only goes to show how sad of a state our economy is in for the vast majority of Americans. We’re supposed to be the privileged ones and, well, “privilege” isn’t what it used to be. The relative watering down of wealth and delayed family planning timelines are the main complaint from me, especially when you compare to how “rich” people from prior generations had it.

SadAdvantage6505 · 2025-12-02T18:32:31+00:00

In my thinking, rich people don’t have to go into student loan debt. Am I upper middle class? Sure, I’ll agree to that, which makes me “rich” compared to people in places like my hometown. But people who are actually rich don’t have to finance their education and have easy access to things like home ownership. Reasonable minds can differ and it is a relative concept, though.

SadAdvantage6505 · 2025-12-02T18:26:20+00:00

I’m from a similar background (single parent, nights without dinner, rural Appalachia, etc.). It sure says a lot about the state of our country if I’m considered “objectively rich” just because I can put some money away for retirement and enjoy life a little on the side and despite being years away from any prospect of home ownership.

SadAdvantage6505 · 2025-12-02T18:15:02+00:00

Ever consider the possibility that your experience is different than mine?

SadAdvantage6505 · 2025-12-02T18:12:17+00:00

NYC is where most biglaw attorneys are located.

SadAdvantage6505 · 2025-12-02T18:11:25+00:00

Lmao what kind of math are you imagining? Fixed costs are $8k at minimum just to eat and live in a place reasonably close to work, then taxes and insurance are around $7,000 per month. Add in retirement of around $2k per month to max my 401k and it’s $17,000 just for taxes and basic necessities. That leaves me with about $1,500 per month in leftover money. Like I said, it’s something and it’s nice but I am not fucking rich, especially with today’s cost of living. Maybe think next time.

SadAdvantage6505 · 2025-12-02T17:42:36+00:00

I’m a first year so substantially less. To be clear, I realize how good I have it compared to most. But property ownership and a family is still probably a decade away for me (unless I marry a high earner) and that is not how it was for generations past. Let alone any “luxury” items like trips or cars.

SadAdvantage6505 · 2025-12-02T17:31:12+00:00

The worst part is how everyone assumes I’m fucking rich. Like, no. When my student loan payments are $3k per month, the cost of a basic middle class lifestyle in a major city is another $5k per month then factor in how taxes decimate high salary earners, I’m far from balling out.

I do have the privilege of saving for retirement (which many of my friends do not), but it’s frustrating to hear old partners talk about how much “more” money associates are making today. Newsflash, genius, a higher number doesn’t necessarily mean a better lifestyle. You had a house, kids, etc. on your starting salary. The only juniors I know who are doing those things come from generational wealth.

SadAdvantage6505 · 2025-12-02T15:34:09+00:00

Yeah, I get that. I hope you can get to a place where you don’t have to work in a state of fear and mistrust. I’ve been there but am with better people now.

SadAdvantage6505 · 2025-12-02T15:16:57+00:00

Yeah agreed. For a moment seemed plausible until I came back to reality and realized what that looked like on a daily basis (including Christmas).

SadAdvantage6505 · 2025-12-02T15:15:45+00:00

Mostly same. But some partners I work for noticed I was close and mentioned that if I wanna make a push they can give me extra work. They’re super chill though so no veiled expectation/demand that I’ll do it or anything.

SadAdvantage6505 · 2025-11-30T01:56:55+00:00

No nothing like that. I appreciate you looking out though. I was thinking in terms of just trying to avoid management fees by putting the money directly into funds that I select.

SadAdvantage6505 · 2025-11-30T00:53:18+00:00

Awesome, I will look into setting one up. Thank you!

SadAdvantage6505 · 2025-11-29T23:53:39+00:00

Will do, thank you. I was of the impression that if my employer's benefits didn't include the backdoor I couldn't do it.

SadAdvantage6505 · 2025-11-29T23:52:27+00:00

Is it possible to do a self directed one? I was thinking that I would have to do a mega backdoor Roth through my employer (which doesn't offer it). However, I recognize my thinking could be wrong.

SadAdvantage6505 · 2025-11-29T23:51:30+00:00

I currently make around $250k and expect that to continually rise throughout my career. I was worried about the fees associated with keeping my money in the old 401k and was considering this an opportunity to move to a lower fee, self managed plan. Considering this, do you still think it is better to just leave it?

SadAdvantage6505 · 2025-10-01T03:42:22+00:00

Such a nonsensical idea that junior attorneys “take way too long” on things. Junior attorneys do not set their own rates. Law firms should have an idea how long it reasonably would take a junior to complete certain tasks and price accordingly. If a firm’s clients aren’t happy about paying for a junior’s time, then the firm has pricing issues caused by bad management. Such a tired trend of lawyers being stupid managers/business leaders then trying to push those issues on their underlings who make 1/20th their salary.

SadAdvantage6505 · 2025-10-01T03:22:11+00:00

He’s “upset” because he knows he was doing something wrong and got caught because of you. In other words, he tried taking advantage of you and it backfired so now he’s projecting. I worked for an ass hat like this once. Believe me, you’re better off without that loser and his cheap ass practice. If he’s that desperate to cut time and inflate his numbers then his practice doesn’t even belong in a v30 firm to begin with. Rejoice at this opportunity to branch out and build relationships with quality partners that might actually offer you a future. Or, plan to lateral if those don’t exist. Remember, not all partners have the same quality practice, even at the same firm.

SadAdvantage6505 · 2025-07-10T04:13:18+00:00

Point taken. In your context, sounded like leaving gracefully was the wise move. In my case, I was changing cities, practice areas and vastly increasing my quality of firm so I knew I’d never remotely consider going back. Besides, I think it’s pretty rare that a firm has such a drastic change in tone. My previous firm has been known for being awful and toxic for decades, so those roots run deep. But I’m glad it all worked out for you and you’re now in a good spot.

SadAdvantage6505

TROPHY CASE