Another sad story: "Some Wall Streeters facing tough times on just $350,000 a year"

[sinkingfeeling]

http://bottomline.msnbc.msn.com/_news/2012/03/01/10548400-some-wall-streeters-facing-tough-times-on-just-350000-a-year

Wall Street types like Andrew Schiff, director of marketing for broker-dealer Euro Pacific Capital, are feeling the pain.

Schiff told Bloomberg that his reduced bonus means his $350,000 salary doesn’t cover his family’s private-school tuition, a Kent, Conn., summer rental and the upgrade they would like for his 1,200-square- foot Brooklyn duplex.

“I feel stuck,” Schiff told Bloomberg. “The New York that I wanted to have is still just beyond my reach.”

Cue the tiny violins.

Richard Scheiner, a 58 year-old real-estate investor and hedge-fund manager, told Bloomberg that he spends about $500 a month to park one of his two Audis in a garage and at least $7,500 a year each for memberships at the Trump National Golf Club and a gun club in upstate New York.

He also pays $17,000 a year on food, health care, boarding and a daily dog-walker (who charges $17 each per outing) to look after a labradoodle named Zelda and a rescued bichon fries named Duke.

[zbdent]

1. I'm sure that the people who clean his office will scrape up a collection for the poor bastard ...

[Snake Alchemist]

2. If he hurries, he can get his kids registered for PS 198 for the fall. nt

[wendylaroux]

3. donations for a bake sale?

a bake sale would be nice to do for them,of course I would have to borrow the money for the ingredients.

[Dirty Socialist]

4. OH CRIMINY

Only $350,000 per year? BooHoo. This makes Breitbart's death seem like the ending of "Old Yeller".

[Liberal_in_LA]

5. He could easily save $500 per month by selling one of the audis!!!

[Snake Alchemist]

6. But then he'd only have ONE Audi? nt

[Liberal_in_LA]

12. ..and everyone needs two Audis!

[Snake Alchemist]

13. Well, anyone who is anyone.

[Odin2005]

7. JUST??? I live off of 1/30th of that!

[Vinca]

8. $350,000 would pay off every debt I have, including the mortgage, and leave me a nest egg.

The guy needs a dose of reality.

[Chisox08]

11. Come on be reasonable.

He is a job creator. He needs his $350,000 to create jobs. Now he is going to fire his dog walker and, gasp, walk his own dogs. Think about the banker without a dishwasher, he has to wash dishes by hand. Oh the humanity!

[Gemini Cat]

9. Huh. Pity. nt.

[tech3149]

10. Man you must get up late!

I saw this story at least twice this morning and spent about an hour composing a response. I've lived on as little as $10k a year and as much as $400K a year. My view from that perspective is that making more money has a tendency to shift your view of the world. During the period I had that high income, I was still just a working stiff getting a modest but fair wage.
My ex was the one making the big bucks and I saw the change in her within a year. All of a sudden, she became a nasty self-entitled bitch.
She was the most loving and giving person I ever knew but once she started getting the big bucks, it was like screw the rest of the world.

[Snake Alchemist]

14. And that is the unfortunate reality we are up against. nt