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People without a safety net who start out poor are generally going to end up poor. In another post I mentioned how its possible to save and due to the power of

People without a safety net who start out poor are generally going to end up poor. In another post I mentioned how its possible to save and due to the power of compound interest retire with millions on a 60k salary but that is a best case scenario. Most people don't make 60k. Also life has a funny way of stepping in. Just after you saved your first 3k, your alternator goes out or you get in a wreck. Or suddenly find out you are having a kid. Emergencies and unexpected expenses are very likely a major reason why so many people don't make it. If I have a low end salary it likely takes a year to save that 1 - 2k that is wiped out via major car repairs cost or the trip to the ER with a broken arm. Most people are on a treadmill just trying to make it and life always sends them back to the beginning.

tonyedgecombe 7y ago
Just after you saved your first 3k, your alternator goes out or you get in a wreck. Some people seem to have these sort of problems more often than others. I guess poverty is about a lot more than lack of money.
- wonderwonder 7y ago
  I don't think its that, I think its more when it happens to someone who has the money to easily deal with it, you don't hear about it. About 6 months ago I had to get a new alternator and brakes, total cost was ~2,800 as my car was past warranty. I just paid it, got the dealership rental car for a day ($50 per day) and went about my life. If I did not have the money, they same thing would have happened but I would not have been able to get it fixed and would have had to desperately reach out to people hoping to borrow money. If I happened to have just enough to fix the alternator, I would have had to drive around on very worn brakes potentially leading to an accident in the future, putting me back at square one. I would have had no choice though as I would not be able to afford not going to work. Not to mention I would not have been able to afford the rental meaning I would have had to spend the whole day at the dealership, missing a day of work and probably that pay. It is very expensive to be poor.
- shantly 7y ago
  Poor people with shitty, cheap, old cars have these problems more than others. Because they're poor.
  - knopkop_ 7y ago
    See the Sam Vimes "Boots" Theory of Economic Injustice
    - wonderwonder 7y ago
      That's pretty much it in a nutshell, very well done.

tonyedgecombe 7y ago

Just after you saved your first 3k, your alternator goes out or you get in a wreck. Some people seem to have these sort of problems more often than others. I guess poverty is about a lot more than lack of money.

wonderwonder 7y ago
I don't think its that, I think its more when it happens to someone who has the money to easily deal with it, you don't hear about it. About 6 months ago I had to get a new alternator and brakes, total cost was ~2,800 as my car was past warranty. I just paid it, got the dealership rental car for a day ($50 per day) and went about my life. If I did not have the money, they same thing would have happened but I would not have been able to get it fixed and would have had to desperately reach out to people hoping to borrow money. If I happened to have just enough to fix the alternator, I would have had to drive around on very worn brakes potentially leading to an accident in the future, putting me back at square one. I would have had no choice though as I would not be able to afford not going to work. Not to mention I would not have been able to afford the rental meaning I would have had to spend the whole day at the dealership, missing a day of work and probably that pay. It is very expensive to be poor.
shantly 7y ago
Poor people with shitty, cheap, old cars have these problems more than others. Because they're poor.
- knopkop_ 7y ago
  See the Sam Vimes "Boots" Theory of Economic Injustice
  - wonderwonder 7y ago
    That's pretty much it in a nutshell, very well done.