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One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds
(www.bloomberg.com)
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this post was submitted on 24 Jun 2024
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I don't make anywhere near that, where the hell do these people live?
That just tells me they're just living just on the edge of their means of subsistence, I'm more than willing to bet they'd be doing a whole lot better if they simply did things like cut out avocado toast out of their splurging budget.
i know somebody like this. technically only >$200k, but in a LCOL area. if they had any brain whatsoever, their home they bought 15+ years would be paid off, but they are an idiot. they probably started accessing a HELOC as soon as they got a letter in the mail inviting them to do so. these are the people that the financial services sector was born to screw.
they have 1 kid who is in their mid 20s and requires some assistance, but if its more than a few K a month, i would be shocked. they carry credit card debt, bafflingly. they buy new cars. they buy top of the line, state of the art, lifetime warranty equipment and gear for the hobbies they never do. a garage full of absolutely primo shit that has been used once. they buy expensive clothes. they purchase all Apple products and can barely check their email without someone telling them what to click/tap on. it's all status purchases to affect the appearance of an metropolitan sophisticate.
they are not my friend. they are a former boss of mine. if they got laid off with a month's notice, they would be in bankruptcy court inside of 90 days having to be told by a judge that they need to sell things, downsize their spending, and that they need to make early withdrawals from their retirement account and accept the tax penalties before they can file for bankruptcy.
their only hope is to make it to retirement age, because their retirement account has got to be massive at this point. and this has made them the most cowardly company man i have ever known, because they are just trying to get to the end, and accept all decrees from above like a total snake.
also, the contradiction of them just "treading water" at >$200K while being upset that the lowest paid & most essential full time employees negotiated a concession for a salary floor of $30K [because housing here is fucked].... is infuriating.
I'd do his job for half that. Just let me horde half of it each year like squirrel. I'd like to have a leisurely retirement and not work past 70 like my father.
for sure. his job is to attend meetings and tell attendees he is overcommitted, find underpaid people to offload his responsibilities onto, and tell everyone there is no money for raises, new hires or promotions.
I can do that, and I'll do it with more theatrics.
Dudes making $250,000 like "my tenants are barely covering my mortgages! Waaaah!"
Assuming it's not total BS like many of these articles ultimately are, the 1/3 (1/10) being talked about are probably people in San Fran or Boston with a high paying job but absurd housing costs, and some edge cases with self-employed people or people laundering drug proceeds and shit.
Yeah high CoL area + large mortgage payment + large student loan payment. Obviously these types are a lot more secure than someone living off minimum wage, but it’s possible for them to be saving next to nothing after their costs.
And this is why they give that avocado toast advice. Thats the advice they know helps them when expenses stack up. They simply have no concept of what paycheck to paycheck means for most people
Honestly they must be splurging on some insane shit cuz I don't make nearly that much yet I manage to put avocado on my toast pretty regularly.
I think most of these people are just house poor because they bought too fancy of a piece of real estate.