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"well into 6 figures" Do you understand how much money that is? Compared to the rest of the world population, I mean. Please don't tell me these people cannot
by rofo1 7y ago
"well into 6 figures"
Do you understand how much money that is? Compared to the rest of the world population, I mean.
Please don't tell me these people cannot food and rent.
- luckylion 7y agoThat's my point. His well-off friends are burning through their money by spending it on luxuries. If somebody sits them down in January and tells them they need to have saved up $20k by December, it's a small adjustment in lifestyle and a change in a few habits. For a family making $50k a year, that's very different.
- User23 7y agoLuxuries, like a neighborhood where you don't have to avoid human feces the second you step out the front door? Or luxuries like having a commute under two hours? Look it's not frappuccinos and asian fusion cuisine that is depleting these people's balance sheets, it's landlords eventually capturing all income gains as they always have and always will.
- war1025 7y agoRent is definitely not the same soul-crushing experience in most parts of the US as it seems to be in the Bay area.
- RootKitBeerCat 7y agoIt’s really not that difficult to be broke in a major USA city, on 100k a year, if you work in certain industries or hang out in certain crowds.
- root_axis 7y agoIt's never "difficult to be broke", just spend more money than you have, even billionaires go broke.
- charlesdm 7y agoMost billionaires don't go broke because they spend more than they have on personal expenses. They tend to go broke because of bad investing. Plenty of billionaires became billionaires in the first place by investing aggressively and using debt to build something. And once the music stops, or the table turns, that might all crumble if caught off guard.