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Over half of Americans say they're not even close to financial freedom
(scrippsnews.com)
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this post was submitted on 24 Aug 2023
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I finally got a job that broke six figures.
Housing boom made houses twice as expensive in five years. Monthly grocery bill doubled. Renting doubled. Cost of cars doubled. Every day expenses doubled.
Now consider the majority of people who do not have 6 figure incomes.
This is so infuriatingly disingenuous that I’m having trouble putting into words an intelligent response.
I would need to triple my income to approach 6 figures. Making that much money may not fundamentally change the way I live my life but it would almost entirely remove my primary stressors. I could afford actual healthcare, I wouldn’t have to worry about whether or not my landlord is going to raise my rent to a point where I can no longer afford my home. I could actually save money so that if/when something happens to me I’m not completely fucked over night
I get what you’re saying. The money from $60k to $100k just goes into the things you should be able to afford at $60k.
At $100k you can afford to contribute to your 401k, start a small contribution towards your children’s college fund, pay random bills, afford a Toyota Camry instead of a Corolla, moderate vacations, etc.
I had the same experience and it was humbling. But you also slowly forget exactly how tough it was looking at your bank account and knowing there was a bill not getting paid that month.
You'd only be able to afford it for a little while until literally every industry raised prices overnight, jacking up inflation to the degree that normal people once again would struggle to put food on the table.
We need price control laws and high minimum wage laws to boost up the common man's buying power so that can't happen.
Bad news about that, 100k will still not be enough. Maybe 175k.