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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][quote=Anonymous][quote=Anonymous]I assume at that income level they mean they aren't very liquid and therefore rely on each paycheck to pay their bills. They just don't want to sell off property or stock/bonds, but they could if they lost their income, so it's not really paycheck to paycheck like it would be for low-income families.[/quote] That comp might also not be salary but a considerable about of it in bonus. So they live paycheck to paycheck until they get that annual bonus. [/quote] This is basically us. 750k HHI but 150k+ is tied up in generally guaranteed bonus. We also refinanced into a 15 year mortgage so our numbers are really tight on a monthly basis even though they don’t have to be. We consider the extra $5k/month in mortgage we’re paying by doing a 15 year is basically just guaranteed savings into our principal. [/quote]
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