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Money and Finances
Reply to "Goldman Sachs: 40% of $400-500K and $500K+ households “live paycheck to paycheck”"
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[quote=Anonymous]It's easy to actually be paycheck-to-paycheck with this kind of income when you end up over-leveraged. That mortgaged McMansion and mortgaged beach house with several financed highest-trim-level range rovers along with some prof school loans and you are going to be paycheck to paycheck. Keeping-up-with-the-Joneses spending is so much more common than people realize. Those well-off seeming neighbors can't really afford the Porsche Cayenne the DW is getting for Christmas nor can they afford the ski trip with the kids to Aspen where they are using the ski instructor So-and-So who lives up the block recommended, but they are spending on them anyway. There are plenty of folks doing this who are not only not saving what they should for retirement, but who don't even have an emergency fund (beyond the ability to sell that Birkin etc, lol). [/quote]
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