Re:36% of high earners are living paycheck to paycheck
by purple_ferret on Thursday June 16, 2022 @10:40PM
(#31773583)
Don't underestimate the ability of people who make 500k+ to believe they're the struggling middle class.
Re:36% of high earners are living paycheck to paycheck
by diogenes_of_ak on Friday June 17, 2022 @12:35AM
(#31774160)
This is extremely common.
Re:36% of high earners are living paycheck to paycheck
by kcplate on Thursday June 16, 2022 @11:08PM
(#31773739)
> Failure to maintain liquid savings can turn an unexpected event into a catastrophic tailspin
Been there, done that, took 10 years to recover. Even with a healthy income there was at least 3-4 years that I was living paycheck to paycheck.
Re:36% of high earners are living paycheck to paycheck
by SilasX on Thursday June 16, 2022 @10:41PM
(#31773588)
But it’s the same in some key respects. Most of those elective deductions are hard to get the money back out of. So, for practical purposes — like if you lose that job — it’s just as if you had been living paycheck-to-paycheck, assuming you hadn’t built up liquid savings.
To most people, it means that you have little to no surplus after usual monthly expenses.
That means no elective investment contributions and — more importantly — no contributions to liquid savings.
Failure to maintain liquid savings can turn an unexpected event into a catastrophic tailspin.
EDIT: That said, the other comments here are elucidating. I wonder if there is an unnoticed shift in the language used among young professionals and that this survey is accidentally measuring that instead of real financial change.