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Reply to "40% of people making 500K/year are living paycheck to paycheck"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What I find interesting is the wording the study uses to report that above $300K, the paycheck to paycheck group jumps to 40% potentially due to lifestyle creep "... the phenomenon of luxuries becoming necessities to certain income cohorts." "Luxuries becoming necessities" - is this perceived necessity, or because a certain level of spending is required for success in certain professional careers?[/quote] Anything that is actually required for your career is a tax write-off, of course. I know an entertainment lawyer who writes off all his movie and concert tickets as "research." It's all BS. If someone making 400k told me they were living paycheck to paycheck, I'd assume they had a drug or gambling problem because that's stupid.[/quote] It just seems like a polite way for the researchers to say "they are living beyond their means". And, by quite a bit more than the next lowest income level![/quote]
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