Why Six-Figures Isn't What it Used to Be
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@susanatwell8274 9 ай бұрын
Comparison culture is SOOOO difficult to get past and then continue to ignore . . . . . I literally made a list that is in front of me each and every day that lists my Blessings - both materially and non-material and is such a good reminder to me of what is truly important in life !!! The CREEP is real . . . . . .mindfulness is SO important on a daily basis. Thanks Rachel - you always make me smile.
@lindadorman2869 9 ай бұрын
Comparison culture works both ways. Never before has it been easier to see how many people are debt-free, earning more through side hustles, living frugally, saving and investing. So many videos and blogs on how to live on next to nothing, budgeting, thrifting, DIY and other ways to save money. Instead of showing off excessive spending, people are comparing their spending to others based on how little they spend or how much they save.
@Bibirallie 9 ай бұрын
I disagree that it’s never before, and the current debt is indicative of that. Side hustle were always a thing before the 9-5. We are basically going back to pre capitalistic society.
@greggsadler4387 9 ай бұрын
@@Bibiralliepre consumerism?
@teresamelville 9 ай бұрын
The crazy thing is we compare our life to others who have different circumstances and priorities. One person may have a smaller home because they love to travel. Others spend money on pets, nice cars, or expensive activities for their kids. Also, circumstances are different. Someone's vacation may look expensive but they stayed with a friend or family for free.
@rg-mi5hh 9 ай бұрын
Live below your means
@arienfox 8 ай бұрын
It's more than enough, you just have to discipline yourself and control your spending.
@luckymoney5961 9 ай бұрын
Great Episode!
@trebmaster 9 ай бұрын
Nice segue at the end!!!
@YcMdattGUY 8 ай бұрын
Idk man. My mom raised 5 kids on $35k. We def struggled but we didn’t get any gov assistance. Any time we had an emergency we had to wait until tax season for the $2000. $200k seems like a lot to me.
@missgui4400 9 ай бұрын
Lifestyle creep. Those who bought $780k+ houses in 2021-2023 and bought luxury cars are in a tight spot.
@coolassclay Ай бұрын
Being disciplined within your budget means saying "No" to the things you really don't need.
@desiv1170 9 ай бұрын
I know I am on the older side looking back (not quite retired, but close), so my perspective is from before this current craziness (especially around house/car markets), but I saw someone say they were barely making it in Idaho brining in $200k a year. Now, I don't know more than that. Family? Lots of kids, etc... But I just googled and the average salary in Idaho is closer to $35k. $200k sounds like a really decent income there... I'm not sure I understand how they could be struggling... (They did say they weren't living in a great part of town, so they shouldn't even have crazy high neighborhood issues...) I get it, housing is crazy. New car prices are crazy... But $200k? Isn't that still decent money? It's more than my wife and I make now... Especially in Idaho, where they said. I get it that in spots in California or New York, that won't go to far... But... I feel out of touch thinking that should be a lot of money still...
@SuperFriday 9 ай бұрын
$200,000k a year and broke is insane, unless they're taking care of someone. America doesn't have good healthcare.
@blipblop92 8 ай бұрын
Basically to feel financially secure, just live like a hermit
@keithredsox36 9 ай бұрын
Based on a combined income of 110k We can afford a 210k house while putting 20% down on a 15 year with payment at 26% of take home pay with current interest rates. If they were at around 4 we could go up to 230-240k
@manny5848 9 ай бұрын
I’d like to see them live off a sub 60k like 80% of Americans
@ehderguyyashootadeerorno2313 9 ай бұрын
I was talking with my sister-in-law's father who has a large house on the lake, 2 nice boats, two new full size trucks/SUVs and he said he qualified for state funded free internet due to his low income. He said he is living off his money market accounts and on paper he shows that his household income is $20,000 per year. (he's living off way more than that, he just shows on his tax refund that his household income is $20k). Situations like this can skew the numbers down.
@thedude5040 9 ай бұрын
@ehderguyyashootadeerorno2313 my inlaws are the dame way. Not quite that well off, but definitely not low income by anyone's standard except the US government
@ehderguyyashootadeerorno2313 9 ай бұрын
@@thedude5040 I’m sure there are lots of people like this. My goal when I retire some day is to have a very minimal taxable income on paper which is why i use brokerage and Roth accounts. I do not want to pay taxes my whole life.
@EnVec0 9 ай бұрын
I know a couple that earns just above minimum wage. They are incredibly frugal and don’t eat out, drink, smoke or have any bat habits. They have a reasonable apartment and can travel internationally 2-3 times a year. They also save their money and place it in safe investments or the S&P 500. They are on track to retire in their 40’a or 50’s because they don’t live Outlandish lifestyles.
@15KHPCLUB 8 ай бұрын
@@EnVec0Cool story bro 👍 I got bite by a spider the other day and turned into Spider Man 🤣
@JCtheComicGeek 8 ай бұрын
Neither is "your mortgage should be no more than 25% of your take home pay!"😊....not in this eco system!
@twinmama16 9 ай бұрын
We just sold our 2023 MDX to car max to unload $65,000. It sucks, it was a pretty car, Type S, but its better for our future.
@coreykleinman7902 8 ай бұрын
buying new was dumb
@Moneymalzy 8 ай бұрын
Too many people are lying about their income. So these stats arent accurate
@tharpeaddy 8 ай бұрын
I make 2-40k a yr and that’s plenty for me lol I cook and I’m very good at it I don’t eat out at all because I can cook lol I ride a e-bike Makes car insurance cheaper since less miles I invest I only buy things that help me every single day Oh yea I’m debt free Food is a little more expensive but again I love to cook and I’m good at it anyway lol I eat organic too so saves me time and money at the doctors office
@janisegott5185 8 ай бұрын
$2k/year is enough for you? Where do you live?
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