Here's a budget for you for a family of 4:
Mtg, Int, taxes & Ins--$3,000
Utils, CATV, Tel, etc--$600
Auto--$500
Food--$1,000
Clothing--$1,500
Entertainment--$1,500
Misc House--$500
Misc Stuff--$500
College Savings-$500
That's about $9,500 a month. You can cut the house but likely have to boost the education costs because you cannot send the kids to public school. You can figure that you will pay about $40-45K in taxes so that leaves you about $20K left over to save toward retirement.
Yes, there are perks to the job but if someone can make $250-300K and have a parent at home to be available for the kids then that's a tougher choice to make.
The same choices face congressmen every day.
Furthermore, unlike many congressmen, who have two homes, one of which is in an expensive area near DC, most federal judges do NOT have to live anywhere near DC and can, like the rest of the world, shop around for a reasonably priced house.
I have to laugh at the $1500/month figure for entertainment for a family of four. That is way more than is needed by any reasonable person to provide amusement.