1/3 of Americans earning $150,000+ a year say they're living paycheck to paycheck

submitted by hfxB0oyA from finance.yahoo.com

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[–]TitsAndWhiskey 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (0 children)

Well, when you have a mortgage on your McMansion and another on your summer home, two new trucks in the driveway, a boat or RV, quads, etc and eat out every day, buy all the latest electronics and clothing, etc. etc. you get tapped out pretty fast.

[–]Credit2Saidit 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (12 children)

This is absolutely hilarious. Apparently, no one knows what "savings" is anymore. Save money for things you need (or may need on a rainy day)? Nah. Just borrow the money at an absurd interest rate and make minimum payments each month.

Doesn't matter if you make $15,000 a year or $150,000. If you don't know how to exercise restraint in spending and prudence in SAVING, you're going to have a bad time.

[–]Dragonerne 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (6 children)

The reason for this is that the current economical system privileges that sort of people due to inflation. If you're not going into insane debt, then you're losing money. A few decades ago, you could buy candy for a few cents.
The 100 dollar an hour you earn now? It will be worth less than a dollar a few decades from now. Have fun saving.

[–]Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

But you have to take into account what that amount could purchase in that time period. I earned around 22 dollars in today's money working construction with father in 1970's at 13. Meaning I was making well over today's min wage as a 13 year old. It was 5-7 dollars at the time, something like that, but it bought much more. Now minimum wage is like the equivalent of 2 dollars back then.

[–]newguy 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yes if people are offered the option to have a $500k house with zero down, where they can pocket all the gains in equity... of course they're going to take that. They'd be stupid not to.

Of course the flip side is if the housing market crashes, then you can be underwater and owe more than it's worth...

[–]Credit2Saidit 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

If you're not going into insane debt, then you're losing money.

No, if you're going into insane debt instead of saving, paying down your existing debt, and refraining from incurring more debt, you're losing far more than you would if you simply have savings that depreciate due to inflation.

Have fun saving.

Oh, I do and will. But you have fun trying to pay off that insane debt with ever increasing interest/monthly payments with money that's ever decreasing in value.

[–]Dragonerne 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

You don't get it. In this economy, you don't pay down your existing debt. You want as much debt as humanly possible.

than you would if you simply have savings that depreciate due to inflation

Yes this is how it works in a normal healthy economy, but in the one you live in, the opposite is true. Your savings depreciate RELATIVE to the assets that my debt has bought.
That means that while you saved 100k every year and I pay 100k in interest every year for 2000k in debt/assets. After 10 years, you will have 1000k, while I will have 4000k assets and 2000k debt, meaning my wealth will be TWICE of yours. After 20 years, my wealth will be 4x yours, after 30 years, 8x yours.

Have fun saving

[–]Credit2Saidit 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Rather than pointing out the glaring errors/assumptions in your calculations, I'll just point out that debt eventually has to be repayed and, therefore, the assets purchased with that debt are always at risk.

I own MY assets free and clear. No worries about having to make ever increasing monthly payments on them, ever increasing interest rates putting paying off those debts further out of reach, and so on.

So, yes, I'll have fun saving and enjoy the peace of mind that goes along with it. May your strategy do the same for you.

[–]Dragonerne 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

So, yes, I'll have fun saving and enjoy the peace of mind that goes along with it.

Yes, peace of mind is a good reason to not go into debt.

However economically smart? No. It is not.

No worries about having to make ever increasing monthly payments on them, ever increasing interest rates putting paying off those debts further out of reach, and so on.

It's not out of reach. You can always sell your assets that increase in value at a higher rate than the debt you have.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

They don’t know what living modestly is.

Cooking at home.

And inflation is real.

They are draining all our savings, then they will hit us hard.

[–]hfxB0oyA[S] 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (1 child)

Yep, people trying to live Instagram lives instead of building something real and affordable that they can hold onto into a healthy and peaceful old age.

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

That's not how the majority work. Get off 4chan Mossad or twitter

[–]Jesus 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

Borrow money from Jews lend at credit pay back in work.

[–]Alienhunter 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Savings kind of are pointless in an inflationary economy. You save money? Great. It's literally worth less than it was before and you're worse off saving it than you would have been had you spent it for something else.

Doesn't mean most people don't understand the value of liquidity or have rediculously small rainy day funds because they are overextending on stuff they don't need. It's not so much about saving money as it's about budgeting your expenses smartly and investing in safe long term options. Most people are retarded though.

[–]TaseAFeminist4Jesus 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (10 children)

What does "paycheck to paycheck" mean, though? I have a positive net worth and I make well over $150,000 per year, but I don't have thousands of dollars in cash just sitting around. Sometimes I might have $1,000 - $2,000 "extra" after I get paid and pay bills, but I mostly use that to pay down a home improvement loan.

So yeah, I might only have $500 or less in my checking account sometimes, but it's mostly because there's no real advantage to sitting on cash.

[–]jet199 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (9 children)

Yep, you are one of the idiots.

If something terrible happened to you like happened to the people in Maui then you'd have to throw yourself on the mercy of the state for your basic needs (have everyone else pay for you).

[–]TaseAFeminist4Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (7 children)

I would not have to ask for a handout if my house burned down. Even in the very worst case, I would continue working from a hotel or a modest apartment while I sorted out my insurance claim. I also have about $60,000 in retirement accounts I could liquidate without penalty if something terrible happened.

[–]SueBoyle 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

You have 60k in retirement on paper, but when you try to collect on that retirement fund you might find out that it's just a bunch of paper and ink and it's worthless.

Many people had their money in retirement funds, and then they found out that Bernie Madoff had mismanaged their retirement funds.. oh what a surprise..

It might be a smart move if you cash out of that retirement fund and bury that money in your backyard.

https://youtu.be/3wUJesUik5A?si=wOzFWsjsny7D9Wtp

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

He doesn't get it. He has no understanding of purchasing power decline and wage stagnation. My Jew boy Madoff.

[–]Alienhunter 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

You have 60k in retirement on paper,

It might be a smart move if you cash out of that retirement fund and bury that money in your backyard.

So take your "on paper" money, convert it to literal paper money that will devalue due to inflation. Right.

You do realize the whole banking system, and that includes paper money, is basically all paper and ink and is instrinsically worthless right?

[–]EDDIESPAGHETTI 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

yes, money devalues with time, i kinda understand that.. but cashing out early with even 50% of your retirement fund is a far shot better than getting nothing when the markets implode.

https://i.imgur.com/pqhthpe.gif

[–]jet199 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

The fact your answer is "I would continue working" is part of your problem.

You are reliant on that wage coming in every month.

If you need to leave your job without something else to walk into you'd struggle. That means you are going to put up with more than you otherwise would.

You don't have your freedom.

[–]TaseAFeminist4Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Yes, I would continue working if my house burned down. Does that seem like a good time to retire, to you?

And no, I don't have my freedom. This is just another way of saying I'm not independently wealthy. Few people are.

That kind of freedom has to be earned. I have my plan for earning it, and I have a much better shot at it than most. Part of that plan is being frugal, part of it is working for an income.

[–]TitsAndWhiskey 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

You must have a huge mortgage/car payments/other bills if you make over $150 with only $60k in retirement and no cash assets.

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Money is worthless. Learn survival and skills in homesteading. Then you don't need money. Maybe around 1,000 a year. Just sells eggs and milk.

[–]MagicMike 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

Robert Barnes has done the math: “Under #Trump, real median family household incomes rose 15% in just 3 years, the highest rate since after World War 2. Under #Biden, real median family household incomes fell 5% in just 3 years, the fastest rate of decline since the Great Depression.”

Democrats are all statist criminals and traitors.

[–]Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

And under Trump and Operation Warpseed he gave us the CRISPR Cas9 injections and hired a Zionist Jee biosensor supremacist to spread them far and wide.

[–]IkeConn 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Well those 3 $125,000 cars, $1,750,000 mini mansion, and tropic vacations don't pay for themselves.

[–]HiddenFox 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

...but I deserve a new Bentley every two years...and so do my kids...

[–]jet199 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

In America even idiots can earn 6 figures

[–]newguy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

In America it seems the more immoral you are, the easier it is to make bank. It's rigged for the financial criminals

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Nope. You also whitewash Zionists which makes you a traitor.

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I blame Jews in power. Thank you Seligman, Warburg and the rest of the ilk.

[–]Macrode2D 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Holy shit.

[–]twolanterns 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

2/3rds who arent stupid

[–]SoCo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

A lot of them are sank on loans, house, car, student loans, credit card, etc.

They are also in the painful in-between place of taxes, where they pay the brunt. Remember, every time a politician rallies people to "tax the rich", they really mean the middle class.