3 ms·

I understand the point though. Living paycheck to paycheck making 250K is either a gross mismanagement of finances, or a dishonest view of them. The guy making

I understand the point though. Living paycheck to paycheck making 250K is either a gross mismanagement of finances, or a dishonest view of them. The guy making 250K a year isn’t worried about not being able to put food on the table. But maybe he has a monthly car payment that is more than the person making 28k a year pays per month in rent.

cj 3y ago
If it’s just a survey, I would answer “yes” to living paycheck to paycheck. But that’s only because I’m automatically investing 70% of my paycheck so I never have more than a few weeks of expenses in cash. I can imagine getting very biased results depending on how to survey is worded. In my case, an unexpected expense just means I take a short term margin loan against my portfolio (at an insane interest rate) until my next paycheck.
- maxerickson 3y ago
  Having resources you can draw on (an asset you can take a margin loan against is a resource you can draw on) is exactly what "paycheck to paycheck" doesn't mean.
  - cj 3y ago
    I agree. The point of my comment was that wording of survey questions can result in biased results.
- mikestew 3y ago
  "I have so much excess income that I invest most of it". I don't think you're grokking the common definition of "paycheck-to-paycheck", or are willfully ignoring it to make a point (and doing so poorly).
  - cj 3y ago
    > to make a point (and doing so poorly). The point I’m trying to make is bias in surveys
darth_avocado 3y ago
250k in NYC or SF Bay Area is really 150k after taxes. After insurance and other usual expenses, 10k/month. Rents in these cities can be expensive and if you have dependents then 10k suddenly is not a lot of money. Its not paycheck to paycheck always, but can totally be.
- red-iron-pine 3y ago
  Enough space for a family means something like $5k-7k/month rent. Even with 10k/mo the income rapidly vanishes. Housing and income reform is deeply needed nationwide.

cj 3y ago

If it’s just a survey, I would answer “yes” to living paycheck to paycheck. But that’s only because I’m automatically investing 70% of my paycheck so I never have more than a few weeks of expenses in cash. I can imagine getting very biased results depending on how to survey is worded. In my case, an unexpected expense just means I take a short term margin loan against my portfolio (at an insane interest rate) until my next paycheck.

maxerickson 3y ago
Having resources you can draw on (an asset you can take a margin loan against is a resource you can draw on) is exactly what "paycheck to paycheck" doesn't mean.
- cj 3y ago
  I agree. The point of my comment was that wording of survey questions can result in biased results.
mikestew 3y ago
"I have so much excess income that I invest most of it". I don't think you're grokking the common definition of "paycheck-to-paycheck", or are willfully ignoring it to make a point (and doing so poorly).
- cj 3y ago
  > to make a point (and doing so poorly). The point I’m trying to make is bias in surveys

darth_avocado 3y ago

250k in NYC or SF Bay Area is really 150k after taxes. After insurance and other usual expenses, 10k/month. Rents in these cities can be expensive and if you have dependents then 10k suddenly is not a lot of money. Its not paycheck to paycheck always, but can totally be.

red-iron-pine 3y ago
Enough space for a family means something like $5k-7k/month rent. Even with 10k/mo the income rapidly vanishes. Housing and income reform is deeply needed nationwide.