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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[–]TaseAFeminist4Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 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 -  (2 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

[–]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