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Back of the napkin to me: say $25.5k pre-tax retirement / college savings for child, 30% federal, 15% state, $3200/mn to rent an apartment in a mid sized city i
by danielsju6 5y ago
Back of the napkin to me: say $25.5k pre-tax retirement / college savings for child, 30% federal, 15% state, $3200/mn to rent an apartment in a mid sized city in the US, $400 month for car and gas, $1k for food, $1k for healthcare, $160 for utilities, leaves them with $288/mn. Not enough to ever own a home, build wealth, travel; better hope they have a spouse that is employed & has employer subsidized healthcare.
- jrochkind1 5y agoAnd yet, regardless, it's still more than 85% of incomes in the USA. That seems striking. Is 85% of the USA living on subsistence peanuts, not even enough to survive? Possibly.
- danielsju6 5y agoNot saving for retirement and one surprise bill from insolvency is the status quo. AMERICA!!!!