There's a big difference between a high salary and sitting on inherited/acquired wealth, as somebody pointed out above.
Here's some things that change that aren't necessary intuitive when you enter the top salary tax bracket
1. You're in that top bracket! Unlike people taking long term gains or qualified dividends and paying 25%, you're stuck for that 37%. If you own a business, you've got some tools to lower taxable income, but if you're making that through salary, expect to be paying a couple hundred thousand of that 750K in fed income tax alone.
2. You've lost pretty much all of your deductions because they're fazed out for high earners - you can't deduct kids tuition, day care. You can't make a pretax contribution to a personal Roth or traditional IRA. Unless you're really sick, your med expenses are not going to meet the 7.5% floor. There's limits you'll hit on interest deductions. Your ability to lower your tax liability, from a percentage basis, changes a ton.
3. If your kids are going to a really good college, you're likely going to eat most of tuition if they're not stellar students. Top schools, e.g. Vandy, Ivy's etc. limit their merit awards to congratulating you for being accepted, and focus their aid on needy students and top performers. You will have a 100% expected family contribution on that FASFA, so you'll be footing that bill.
4. If you raise your standard of living to match the high salary, you are screwed if the job goes away, and you're probably screwed anyway - biggest mistake that commonly happens and can eat people alive if their disposable income is now servicing the boat, the giant house, the two BMWs, the two kids in college and their BMWs, etc. Seen it happen way to often, and many times the high income earner is doing this before they've retired the debt that got them there - med school, law school etc. can easily set you back several hundred grand plus interest. You didn't inherit properties, trust funds, etc, you're financing them - bad mistake.
5. A lot of high salary people just happen to have a talent or created an opportunity that has a lot of value, and aren't from monied families. So if you want the cousins or siblings along for that Disney trip or an exotic family reunion, you're probably gonna need to fund a good bit of the cost - feels great to have that capacity, but can be a big chunk of cash. Same with doing your duty to aging parents, nieces and nephews, etc. You have the means to help provide for the people you love, but it can be a drag on your ability to build wealth,
So if you have any sense, you're socking away what you can while the getting is good, and yelling at your wife about giving away the farm and spending like a drunken sailor every Christmas. And you definitely don't say 17 you with your money - middle finger still works fine.
