Great aticle on how middle class is struggling and not saving enough

Anonymous
http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/

What do you think? Is this you? Why or why not?

Anonymous
Not quite as bad as that, but we don't have the cushion we should. We save for retirement and we save for the kids' college funds, but we don't have the $30K or so we should in the bank as an emergency fund. I feel it.
Anonymous
No, this is not me. Because working hard to me means you are doing something that gets you results, so that your situation improves.

His income by his own admission was dwindling steadily over a long time. That's not working hard.
Anonymous
Anonymous wrote:http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/

What do you think? Is this you? Why or why not?




They should ask reparations from the Roman Empire.
Anonymous
I honestly don't think I know anyone personally who couldn't pay $400 or even 2k for an emergency like the writer. And DH and I come from middle class families with blue collar or middle class jobs. Maybe our younger, early 20s sisters couldn't cope with emergencies, but they're just starting out and graduating.

The recipe for success in America isn't that hard. Graduate, get married and don't have kids until you're married with dual incomes.
Anonymous
Anonymous wrote:No, this is not me. Because working hard to me means you are doing something that gets you results, so that your situation improves.

His income by his own admission was dwindling steadily over a long time. That's not working hard.


And his wife wasn't working and they put their kids in private schools. Paying your IRS bills and credit card debts should come WAY before private schools.
Anonymous
Why did the author empty his retirement plan to pay for his daughter's wedding? That's just dumb.
Anonymous


We have no retirement savings, because we emptied a small 401(k) to pay for our younger daughter’s wedding.


WTF?
Anonymous
Anonymous wrote:

We have no retirement savings, because we emptied a small 401(k) to pay for our younger daughter’s wedding.


WTF?


yeah its normal get over it rich ahole
Anonymous
Anonymous wrote:Why did the author empty his retirement plan to pay for his daughter's wedding? That's just dumb.


+1 that was kind of annoying. Really? Because a wedding was necessary?
Anonymous
Anonymous wrote:

We have no retirement savings, because we emptied a small 401(k) to pay for our younger daughter’s wedding.


WTF?


It's the new American habit: Blame others for your own stupid decisions.
Anonymous
Anonymous wrote:Why did the author empty his retirement plan to pay for his daughter's wedding? That's just dumb.


Right, the author can talk about wage growth, credit card, predatory lending, etc. all he wants. This is a different problem.
Anonymous
we paid for our own wedding with our own savings. Don't empty your parents 401k for your wedding, these daughters will have to take care of their parents. He unwittingly burdened himself and his wife on them. Not being open with his own wife about finances was also annoying.
Anonymous
Anonymous wrote:
Anonymous wrote:http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/

What do you think? Is this you? Why or why not?




They should ask reparations from the Roman Empire.


Ok this made me lol. You win today.
Anonymous
Anonymous wrote:Why did the author empty his retirement plan to pay for his daughter's wedding? That's just dumb.


I would imagine it's because he socializes mostly with truly UMC and rich people in Manhattan/Brownstone Brooklyn/East Hampton where this is the norm and he didn't want to disappoint her. And also admit he couldn't afford it.
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