My dad has a job in or near this category (probably 500-600k this year). Somehow the money was never saved, but he didn't live an outlandish lifestyle. Their house was just under $300,000. But they got a new car every 3-4 years or 90,000 miles, whichever came first. It was suburbans and minivans and switched to minivans and civics after a while, but a lot of stupid expenses on repairs and maintenance.
The biggest 'issue' was they had 6 kids- they paid for most of our college tuition (probably 80-90% but a few of us went to public school for well under 20K/year) and they bought most of us new cars upon graduation (I got a civic with 130K miles on it).
Anyway, before this gets too long, my parents got divorced while I was in college, which is why I know so much about their financial history. This did split their savings in half, but I once asked my dad why he didn't just quit his job at which he worked 80+ hours a week. He said he couldn't afford to retire. If I remember right, they both came out with well over a million, and he's still working at 58, and still claiming he can't afford to retire.
One last point - it's exactly that lifestlye that has brought me to MMM. Even if it wasn't on BMWs and Porsche, I've seen that spending more money doesn't really make one happier. Oddly enough, I make about 1/10 the salary but am planning to retire well before 58.
Luckily I've educated myself on personal finance.
Some 'stupid' things that money was spent on - They aren't all exactly stupid, and some of them might pay themselves back ... :
$20,000 on maintenance and repairs for the honda civic i'm driving. This was in the first 3 years of the car's life, in addition to the 20+K purchase price. Plus, the car before this one was traded in for ~$6K after being purchased for $20+K 3 years prior.
literally $1000+/month on eating out for the past 8 years or so.
New kitchen - $20,000 estimated
Finished basement - $20-$40K estimated
College tuition - 512K - 2 private schools 4 public, though I think my sister might have a scholarship, and I might be overestimating the other private school
2 new cars every 3 years for the past 15 years - $250,000+
2 new cars for graduates + used one for me + 2 for my sister (right, 2 cars!) - $85-$100K
You can see how without living a super fancy lifestyle, you can spend A TON of money!