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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]Look at the question text: "Primarily live paycheck to paycheck: I find it tough to make progress on any long-term financial goals." "Moderately improve each year: I am able to make some saving progress each year." "Considerably better: I am able to make progress on both short-term and long-term financial goals." Why would you select "Primarily Live Paycheck to Paycheck" when you are maxing out 401K, 529, Roth, and brokerage funds? At the very least you're saying "Moderately Improve" to reflect your high level of savings. I think 30%-40% really are spending down their money as soon as they get it in these income brackets. It's a treadmill of consumption and big bills (5-figure mortgages, designer clothing, big trips, expensive cars, etc) Money in, money out. [/quote]
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