Comment on Top economist on the economy’s dirty truth: The only people who feel good are ‘making over $200,000’ and ‘have large stock portfolios’

• AlecSadler@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago

  Yeah, I make well over $200k but between general COL, family medical things, a lot of past debts, and zero investments - I’m basically check to check right now.

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  • Iceblade02@lemmy.world ⁨3⁩ ⁨days⁩ ago

    If you’re living paycheck to paycheck on a $200k household income, it sounds like you might want to rethink your budget.

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    • Truscape@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago

      If they live in the US, medical debt and/or student loans will eat away at anything they’d try to set aside swiftly.

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      • Iceblade02@lemmy.world ⁨3⁩ ⁨days⁩ ago

        Even in the screwed up US system there’s something wrong if you’re struggling to break even with a 200k income. That’s a household income in the 84th percentile for the US, or the top 2% globally (adjusting for PPP).

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    • AlecSadler@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago

      Long story short I had to liquidate my retirement and go another half a mil into debt. Is what it is. Life happens.

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  • iopq@lemmy.world ⁨3⁩ ⁨days⁩ ago

    Yeah, that’s rough for you now, but once you pay those things off you’re going to be well off

    My friend has a family of 6 in SF bay area (one kid in college) and he spends ~120K per year. That’s not abnormal when he has nothing to pay off anymore.

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    • AlecSadler@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago

      That’s the goal! Unfortunately it’s quite a few years off even if I can keep it up. I’d argue maybe by the time I’m 45-50 and I still have retirement to rebuild.

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