Another sad story: "Some Wall Streeters facing tough times on just $350,000 a year" [View all]

[sinkingfeeling]

http://bottomline.msnbc.msn.com/_news/2012/03/01/10548400-some-wall-streeters-facing-tough-times-on-just-350000-a-year

Wall Street types like Andrew Schiff, director of marketing for broker-dealer Euro Pacific Capital, are feeling the pain.

Schiff told Bloomberg that his reduced bonus means his $350,000 salary doesn’t cover his family’s private-school tuition, a Kent, Conn., summer rental and the upgrade they would like for his 1,200-square- foot Brooklyn duplex.

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

Cue the tiny violins.

Richard Scheiner, a 58 year-old real-estate investor and hedge-fund manager, told Bloomberg that he spends about $500 a month to park one of his two Audis in a garage and at least $7,500 a year each for memberships at the Trump National Golf Club and a gun club in upstate New York.

He also pays $17,000 a year on food, health care, boarding and a daily dog-walker (who charges $17 each per outing) to look after a labradoodle named Zelda and a rescued bichon fries named Duke.