Reply to Goldman Sachs: 40% of $400-500K and $500K+ households “live paycheck to paycheck”

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Reply to "Goldman Sachs: 40% of $400-500K and $500K+ households “live paycheck to paycheck”"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The curious thing if you look at the graph of responses:

Most people earning $200-$300K did NOT state they were living paycheck to paycheck. The majority 56% said they were doing considerably better than that, and felt they were able to make significant progress on short and long term financial goals.

Yet as people moved up the income scale, that percentage dropped a lot!  Only about 25% of pe3ople earning $300K+ felt that they were making significant progress on short and long term goals.

I'm wondering about the age of the respondents and whether theyhad kids?

$200,000 income (one parent) + 2 little kids with a Stay at Home Parent is probably doing better than $300,000 HHI  where both parents earn $150,000 and you have to pay for daycare for 2 kids. 
[/quote]

It’s lifestyle creep. We live like we make $200K so people assume we make $200K. In reality we make a ton more. Our friends making $400K live like they make what we actually make and frequently complain about how stretched they are financially and how it “keeps them up at night.” You learn a lot about people and money when you live below your means and people assume in conversation you make less than them.  [/quote]

How do you know what your friends make? I would never tell anyone what I make. I bet they think the same thing if you.[/quote]

They tell us. Pretty straightforward. [/quote]

They’re lying to you.[/quote]

yup. whenever anyone like the PP is tacky enough to pry we always down play. [/quote]

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