Assuming it’s not total BS like many of these articles ultimately are, the 1/3 (1/10) being talked about are probably people in San Fran or Boston with a high paying job but absurd housing costs, and some edge cases with self-employed people or people laundering drug proceeds and shit.
Yeah high CoL area + large mortgage payment + large student loan payment. Obviously these types are a lot more secure than someone living off minimum wage, but it’s possible for them to be saving next to nothing after their costs.
Assuming it’s not total BS like many of these articles ultimately are, the 1/3 (1/10) being talked about are probably people in San Fran or Boston with a high paying job but absurd housing costs, and some edge cases with self-employed people or people laundering drug proceeds and shit.
Yeah high CoL area + large mortgage payment + large student loan payment. Obviously these types are a lot more secure than someone living off minimum wage, but it’s possible for them to be saving next to nothing after their costs.