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Using someone car ownership as a gauge of possible wealth can be incredibly misleading. Plenty of people go into dealerships and walk out with a wonderful car a
by mym1990 5y ago
Using someone car ownership as a gauge of possible wealth can be incredibly misleading. Plenty of people go into dealerships and walk out with a wonderful car and debilitating monthly payments.
- walrus01 5y agothis is factually correct and while we're getting off topic it brings up the problem of overloaded consumer debt in the USA in general. I also saw a statistic that something like 45% of Americans couldn't immediately come up with $1000 for an emergency the same day. Just in case we need a benchmark measure of relative wealth and prosperity between the typical six figure FAANG employee and people working jobs that pay a great deal less.
- snedfree 5y agojust 39% could immediately come up with $1k according to this survey from January: https://www.bankrate.com/banking/savings/financial-security-january-2021/ https://www.bankrate.com/banking/savings/financial-security-...