maybe i am dumb so please help me out here but
35% of people making more than $100k per year are living paycheck to paycheck
how is this an indication of a significant struggle? $100k is a shit ton of money, no? that’s the fabled six figures? and that includes people making more? could not “living paycheck to paycheck” be chalked up to maxing out IRAs and 401ks followed by a decent chunk of using disposable income?
edit thanks 4 the downvotes to my genuine question you guys are truly amazing 😻😇😎 my time on this website is better because of you ✨💫🤩
Once you get that fabled six figures you start doing things like getting married, buying a house, and starting a family. Child care is expensive. Health care for children is expensive. Houses are expensive, especially maintenance.
If someone has a family of four and is making $100,000 a year I can definitely see them living paycheck to paycheck.
Because many ppl that earn that kind of cash live in high col area…where ur expenses eat up everything unless u are dual income. In bay area u pay 3k a month for an apartment…and food/gas bills easely add up to 2k…its rough…
thanks for the response this makes a lot of sense
i guess my mind cannot comprehend the finances of someone making more than i’ll ever hope to see 😭 so i have a hard time feeling bad for that population segment but maybe that’s something i should self reflect on
I live in San Francisco. Things are so expensive here $100k/yr is considered “low income” and qualifies you for government assistance programs.
