Re:36% of high earners are living paycheck to paycheck
by vlunkr on Thursday June 16, 2022 @10:16PM
(#31773415)
It’s still wise IMO to have some liquid cash on hand. In the event that you lose your job or have some unexpected big expenses come up.
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Re:36% of high earners are living paycheck to paycheck
by rajup on Thursday June 16, 2022 @10:39PM
(#31773575)
In such cases wouldn’t a credit card suffice to tide you over till you can liquidate assets (or cash flow from paycheck)?
Re:36% of high earners are living paycheck to paycheck
by vlunkr on Thursday June 16, 2022 @11:23PM
(#31773801)
To be pedantic, you probably can’t pay your mortgage on credit, or cash flow from paychecks if you lose your job.
Maybe I just come from an old school financial philosophy, but I don’t understand this aversion to being financially independent. The idea of someone making 6 figures but being completely reliant on the credit card company in an emergency is pretty wack.
Re:36% of high earners are living paycheck to paycheck
by hiq on Friday June 17, 2022 @01:22AM
(#31774383)
The idea might be to maximize your expected wealth, e.g. if you consider this kind of emergencies as relatively unlikely and that even then you'd just have to pay interests on a credit card while you're recovering for a few months, it could be worth it to invest some of the money you currently have as an emergency fund into something other than cash.