Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
This is so infuriatingly disingenuous that I’m having trouble putting into words an intelligent response.
I would need to triple my income to approach 6 figures. Making that much money may not fundamentally change the way I live my life but it would almost entirely remove my primary stressors. I could afford actual healthcare, I wouldn’t have to worry about whether or not my landlord is going to raise my rent to a point where I can no longer afford my home. I could actually save money so that if/when something happens to me I’m not completely fucked over night
I get what you’re saying. The money from $60k to $100k just goes into the things you should be able to afford at $60k.
At $100k you can afford to contribute to your 401k, start a small contribution towards your children’s college fund, pay random bills, afford a Toyota Camry instead of a Corolla, moderate vacations, etc.
I had the same experience and it was humbling. But you also slowly forget exactly how tough it was looking at your bank account and knowing there was a bill not getting paid that month.
Now consider the majority of people who do not have 6 figure incomes.
Removed by mod
This is so infuriatingly disingenuous that I’m having trouble putting into words an intelligent response.
I would need to triple my income to approach 6 figures. Making that much money may not fundamentally change the way I live my life but it would almost entirely remove my primary stressors. I could afford actual healthcare, I wouldn’t have to worry about whether or not my landlord is going to raise my rent to a point where I can no longer afford my home. I could actually save money so that if/when something happens to me I’m not completely fucked over night
Removed by mod
I get what you’re saying. The money from $60k to $100k just goes into the things you should be able to afford at $60k.
At $100k you can afford to contribute to your 401k, start a small contribution towards your children’s college fund, pay random bills, afford a Toyota Camry instead of a Corolla, moderate vacations, etc.
I had the same experience and it was humbling. But you also slowly forget exactly how tough it was looking at your bank account and knowing there was a bill not getting paid that month.
Bad news about that, 100k will still not be enough. Maybe 175k.