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Most working class people die with savings below five figures. You should re-evaluate how good you're doing. Of course, if you live in California or New York,
by korroziya 4y ago
Most working class people die with savings below five figures. You should re-evaluate how good you're doing.
Of course, if you live in California or New York, you're basically broke, since the cost of living in those states is designed to keep people poor. But that's why people left those two states in droves over the last few years.
- vore 4y agoI don't think the parent post was punching down on working class people, but rather making the point that if housing is unaffordable for even someone with a 300k household income, it is truly catastrophic for people on the average wage.
- angarg12 4y agoThank you for this comment, in case someone misunderstood my original post. I'm from a working class family myself. My parents were factory workers, and they managed to buy a new 4 bed apartment in a new part of town and raise 3 children. And yet I don't feel I'm doing materially better than my parents at my age. I definitely don't feel upper middle class even if my income suggest so. As you point out I can't imagine how people with more average incomes get by.
- danaris 4y agoNew York City. New York State, once you get outside the city, is a fairly average state with a lot of rural area that has moderate-to-low cost of living. I would venture to say that more land area of California is in the "unaffordable to average people" range than that in New York, either as an absolute or as a percentage of the state.