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LINK Most Americans live paycheck to paycheck

Nearly 10 percent of those making $100,000 or more say they can't make ends meet. If they can't make it on $100,000 what hope is there for folks making less than half that amount?

HippieChick58 9 May 19

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19 comments

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1

I have never had 100,000 a year. I did have a 401k when I was working, that evaporated when everything crashed, and I was never able to get it back to its current level. I lost my job, retired when I was 69 years old, and now live on less than half what I used to have. I lost my house, when I could not make the payments. I now live in a little house on my daughter's farm. My horse lives here too, which helps. I could not afford to board him. My daughter, son in law and I just share stuff, I help out on the farm, and we have friends we barter with. So, I get by, but I don't have any extra. Thankful for our wonderful vet, who doesn't charge an arm and a leg, and is fine with monthly payments for the big, expensive things with the critters, and the dentist that accepts payments. My tiny savings is depleted, but, I get by.

3

Ask a republican how to do it.They will tell you stop buying health insurance,food,homes and other non-necessary things.

3

Income Inequality is the greatest financial threat facing us, at least in my opinion. It always occurs throughout history and it never ends well for anybody, the rich included.

Especially the rich as they have often lost their heads.

2

Let me start off by saying I make less than $100k/yr. (sadly), but do understand the statement. When we think about income and our expenses, we generally concentrate on the short-term with little consideration on longer term needs. Sure I can "survive" on $30k/yr., but am I able to do what is necessary for a secure financial future earning that as an income? The short answer is, hell no.

I don't work in the public sector, so pensions are out. Sure, there is Social Security, but a single check per month amounting to less than $1500 is not my idea of a quality retirement plan. It might be enough if inflation wasn't a real thing and I am able to own my home at the time of retirement, but how many in retirement have the financial security of owning their own home mortgage free?

If I wanted an income of $60k/yr. from invested, I would need a million dollars in the bank collecting 6% interest. So if I consider my retirement and the amount of money I have to put away to comfortably live in my retirement years and not need to worry if there was a "bump" in the market while I was retired, $100k/yr. just doesn't seem like as much as I once thought it was.

If we raised the minimum wage to $15 (which I support), that is only $31k/yr. How are they able to save for retirement? Consider that isn't even the actual minimum today, and we are debating foolishly whether it should even be that . How are those earning less than that saving for their future? And when you realize they aren't saving and many are burying themselves in debt just to make ends meet you begin to see the problem. $k/yr. actually isn't a lot of and the wealth gap in America is a serious problem.

2

Would be nice if they'd included demographics with their headline. Situation is a lot different for a family of 5 in New York City than it is for 2 adults in Nowheresville.

2

If people making $100,000 or more can't make ends meet, I would say that they have money management problems! Perhaps they should take a look at what they spend their money on?
I am always amazed when I see in the news that hundreds of people waited in line overnight to be the first to buy the newest release of some electronic gadget. I never made anywhere near $100,000 in my life, but I managed to live comfortably. I didn't have the money to run out and buy the latest expensive gadgets, but maybe that didn't bother me because I came from a "working poor" family. Americans are obsessed with consumerism. They have to have everything "now." As an adult, I managed to get the things I wanted sooner or later. I just wasn't brought up with an "instant gratification" mentality that so many Americans seem to have these days. You "poor" people earning $100,000 or more, learn to live within your means!

2

Living has gotten harder and harder every year. I live simply to make it so not a huge issue. That said, it is still way more of a struggle than it needs to be. Odd why many here blame the people and not the system.

3

I know several people living on $12000/yr

5

I had a woman tell me $50k is barely getting by, I'd estimate their combined income is comfortably over $300k. She couldn't answer how single people we both know survive on $30k.

A lot of people are just stupid with money and it's hard to convince people they're stupid.

4

None at all. We all need to learn to be more self-sufficient.

3

Everyone ( west mostly) MUST to pull back their consumption of everything. WTF does someone need with a 5000 ft2 home? Really? Just cause you CAN afford it doesn't mean you SHOULD afford it.

2

Um ... what's a paycheck?

Metaphorically speaking the deposit that is made to your bank account every 2 weeks or every month. Most people haven't seen a real check from their employer in decades.

@HippieChick58 -- Um ... what's a bank account? Should I have one? What is it for?

@evidentialist No honey, if you have money send it to me and I will take care of it for you.

5

most humans live to the maximum of their status [ to westerners " and beyond".] marketers have made that "and beyond " bit a large scale trap of debt and stress

5

"Nearly 10 percent of those making $100,000 or more say they can't make ends meet."

Cry me a river.

IKR!

3

In my case 10% of that, our food and housing costs are much higher here, we do have a better welfare system though, also education and health are much more easily accessed. But the world I expected when I was younger hasn't eventuated. We have a lot of homeless in my area, many you wouldn't realise during the day, they will still sit outside a coffee shop having a latte but rent is double their income.

2
2

I'd be in hog heaven to make $30,000 have never reached that in 78 years of working.

My retirement is more than that, but being in CA, I'm relatively poor.

9

82% of economic gains from 2017 have gone to top 1%. If anyone doesn't believe this, fact check me please!

3

It depends a lot on where you live, too. When my wife and I were making over 100,000, I thought we had it made. Nice house, nice vehicles, nice neighborhood. We could do most of the things we wanted. But we lived in a small city, in a generally not-rich part of the country. That's no excuse for the ridiculously low minimum wage, though, no matter where you are. And with CEOs making 400 times the money of their workers, plus all the stock options, etc., it makes me sick.

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