We're on track for $15 million net worth in a few years, but spend $700K annually - is that excessive?

"While it's easy to see how the numbers add up, some argue that his significant expenses are a reflection of lifestyle choices and obligations."

"Even though $700,000 annually sounds excessive, considering his income, it allows for maintaining his lifestyle and future wealth growth."

A Reddit user spends $700,000 annually, which raises questions about whether it's excessive or justified. With a $2 million income, this spending constitutes a small fraction of his earnings. Key expenditures include $10,000 monthly rent and $9,000 mortgage for a weekend home, along with large credit card bills and private school fees. Despite appearances, his overall financial trajectory suggests he is on track to amass a $15 million net worth by his 50s, indicating no immediate need to alter his spending habits.

Read at 24/7 Wall St.