Reply to 40% of people making 500K/year are living paycheck to paycheck

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]In the $100k to $300k it feels like paycheck to paycheck because they are putting lots in savings so it’s not really available for daily use. There is still real budgeting going on. This is the range where they know not to depend on social security, don’t expect to get lots in aide for college, healthcare cost share is higher, and taxes are higher. So while yes they can afford some nicer things they are still budgeting, still conscious of the higher price of goods, and yet being looked at as if they are really rich.[/quote]

And yet the people in this range reported much lower rates of feeling "paycheck to paycheck" because somehow these people are still connected to reality enough to understand that having to budget and engage in delayed gratification choices (like putting money in retirement and college accounts instead of buying a boat or flying first class) is not the same as being one missed paycheck away from being evicted or having to rely on credit cards you don't know how you'll pay off just to get through the month.

Somehow, at that 300k threshold, a shocking number of people (around 40%!) lose this attachment to perspective and reality, and come to believe things like private school or foreign travel are necessities, and to actually think they somehow have it harder than people who make half or even just a small fraction of the same income. Apparently 300k is the point at which people start to become Dumb Rich People, which is actually one of the plagues not talked about enough. 40%! By the time incomes are up over 800k, how bad do we think it is? 50%? 60%? 9 in 10 billionaires appear to be DRP, for instance.

It's a problem.[/quote]

Hah, yes, eventually the "millionaire next door" driving the old car will be considered "paycheck to paycheck." [/quote]

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