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Wednesday, January 31

Discretionary Time

by Chris Gilbey on January 31, 2007 06:17PM (EST)

I was talking yesterday to Lachlan, who cuts my hair. He travels a lot. Next month he is going to Hawaii. Later in the year to Bali, and then later still to New York.

He told me that he and his partner are going to stay with friends there, who have recently been saying that they are now the working poor in New York, with a household income in the $2-3 Million. That is because people in the financial markets - the big swinging dicks of M&A - can get massive payouts. I read that a receptionist at one of the big firms got $75k last Christmas!

So they have massive discretionary income. But they have no more time than the rest of us.

Keywords: rich

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