Dear Quentin, I’ve been with my wife for 15 years. We’re in our 40s, have two children and are very happy. We both have good jobs and make about $400,000 a year combined. My wife’s grandfather made a decent-sized fortune for himself and left his kids a thriving business and sizable trust funds.
The trusts and other investments are controlled by my mother-in-law, even though they are meant for my wife. As we don’t have access to them or specific knowledge about them, I have always preached and practiced that we need to budget and live within our means — meaning our direct income, savings, etc. However, with the knowledge that there is this money and with feedback from my wife’s family always being along the lines of “don’t worry about the money” or “it will be fine,” we have spent beyond what I would otherwise say is smart.
“‘Life in New York is not cheap, and with two kids, we are now getting to the point where there is no more meat left on the bone. We are in the red at the end of the year.’”
Life in New York is not cheap, and with two kids, we are now getting to the point where there is no more meat left on the bone. We are in the red at …