It’s hard being rich….no really, it is!

Talk about being out of touch… (emphasis added)

“I’m not Zen at all, and when I’m freaking out about the situation, where I’m stuck like a rat in a trap on a highway with no way to get out, it’s very hard,” Schiff, director of marketing for broker-dealer Euro Pacific Capital Inc., said in an interview.

Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.

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

Yeah, God forbid Andrew Schiff actually….gasp….tighten his belt like so many American families who struggle to make ends meet on a fraction of what he makes in a year.


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3 thoughts on “It’s hard being rich….no really, it is!

  1. Actually if his bonus was cut – Andrew Schiff has had to tightened his belt more than the President and members of the House and Senate. Are you aware of any cuts any of them have had made to their income?? That includes Republicans and Democrats!! Any comments on all the sacrifice they have made? Didn’t think so.

  2. He just commented about this article on the Peter Schiff show. The biggest things to note are that first of all, he pays nearly 50% in taxes, so you can chop the 350k in half. Add in the extremely high cost of living in New York, and it doesn’t work out to be all that much money, especially considering is a 2 bedroom, 1 bath apartment. Second, the “stuck” comment was in reference to a question about traffic. He was talking about traffic, and the remark was taken out of context.

  3. Tim, It says in the article that his take-home pay is about 200k so his tax rate is absolutely nowhere near “50%”. That is a big number you are throwing around – warren buffet much? Also, his “extremely high cost of living” is not a reflection of NYC as much as it is a function of the lifestyle that he aspires to– no, make that lifestyle that he feels entitled to. I’m not blaming him for feeling frustrated, but you defending him with misinformation is not helping anyone.

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