'look i know what it's like to live paycheck to paycheck, when i bought my 2nd house i didn't have any spare cash after living expenses and playing catchup in IRA contributions'
love 2 confuse "I can't actually buy literally anything that strikes my fancy every month" with "I live in a constant state of anxiety that I will overdraft or miss rent or get the power turned off"
I try to stay grounded in reality by reminding myself of how Iโm pretty privileged to be able to pay $500 at a momentโs notice to have plumbing repairs done (as I did yesterday).
To be fair. Most people in OPโs position are so heavily leveraged what you are saying isnโt far from the truth.
But also add in โwill be forced to liquidate and lose everything including, likely, employmentโ
this is Hamilton Nolan's thing about a rich guy cleaning his plate and pointing to a poor guy with no food and saying "see, look, both our plates are empty!"
The crushing, humiliating position of having a large financial cushion and easy access to credit. You've really got to feel for all those making low-to-mid six figures.
sure i slammed 5 grand into my catchup IRA and another 10 into a personal investment account but you know what i had to make sacrifices to do that (no vacay to the florida keys)
Breaks my heart that lawyers, actuaries, and minor executives can barely afford private school *and* a 4000 sqft McMansion *and* new his and her F-250s every three years *and* 401k contribs *and* an annual vacation to Narnia
Maybe, but it's a blue check account. Might be ironic response to people calling him that for his out of touch take. Like how Matt Walsh had "theocratic fascist" in his bio.
It must fascinating to live life without the kind of object permanence that allows you to understand that you used the money you make to acquire the things you have
My god. Why wonโt someone think of how poorly funded the trust funds this guyโs kids will have?
They will have to learn how toโฆ(shudders)โฆ.budget.
Yeah man, after private tuition for your pre-K kid, your $500 for entertainment, your savings for retirement and your annual $7,800 vacation, I mean, what's left? $350,000 is barely enough to scrape by!
The only true metric is how much do you have left over every month to piss away at the tracks or a casino. Everything else is a necessity.
*insert dril candle tweet*
Well there's that, and shows, and parties, and "getaways" outside of official vacations. Toddler birthday parties and Taylor Swift concert tickets are a fortune these days, inflation is killing us.
The true hardship will be if they take any capital gains from their investment and it pushes their income over $400k. There goes that child tax credit! Truly, they might have to consider food stamps.
"Living paycheck to paycheck" is intended to refer to a person in a very precarious financial situation, but if you only look at the words as written and ignore their intended meaning, you can say that just about anybody is living paycheck to paycheck.
