Quote of the Day: Or You Could Also Buy a Less Expensive Car

It's hard out here for a 1 percenter...

Once you pay for a house, a car and child care, it’s not that much money. You feel like regular middle-class people.

Stefan Baugh, a former Katten Muchin Rosenman partner, who quit his job to start a private equity firm and make more money.

(Baugh gives more explanation of his #firstworldproblems, after the jump…)

Here is Baugh’s more detailed explanation of why he quit his job at Katten. Namely, fast cars! From the Washington Post:

Stefan Baugh already drives a Jaguar, but he dreams of being able to afford any car he wants.

“It would be great if I could drive by the Ferrari store and say, ‘I want that red one,’ and just buy it,” he said.

Stefan Baugh recently left his job as a partner in a large law firm to start a private equity company with two colleagues. He was motivated, he said, by a desire to create something as a legacy for his family — and to boost his earnings.

“If this goes the way I want it to, I could literally be a billionaire someday,” he said. “If I continue practicing law, there is zero chance of becoming what I consider wealthy.”

Elie would probably agree with Baugh that rich is as rich does, but from where I’m sitting, might I kindly suggest that Mr. Baugh stop complaining about the fact that he has more money than nearly every other human being who has ever lived in history. I’m just sayin’…

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Joining Washington’s one-percenters takes more than the U.S. average [Washington Post]
Joining Washington’s one-percenters takes more than the U.S. average (slideshow) [Washington Post]

Earlier: Earning $250,000 Does Not Make You Rich, Not in My Town

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