Geez who were they surveying, people living in San Francisco? These numbers seem ridiculously high. $2 million they say it would take to feel rich?! Wtf… I have a feeling the people surveyed are what I would already consider rich. But it’s all relative isn’t it? I think when you’re able to start saving enough each month to easily cover rent or mortgage for the next month, you are raking it in and should be in that comfortable group.
The reality is that 64% of Americans live paycheck to paycheck and aren’t making any actual savings. Meanwhile, median deb is around $67,000 and 37% of the population is working two full time jobs now. This situation is only getting worse as the rates rise and people have to allocate increasingly higher percentage of their income towards servicing their debts. A very small percentage of the population is in the comfortable group now.
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75k might be the average salary, but almost no one makes that
And how far 75k goes also depends on where people live. Not exactly going to get you far in a place like New York for example.
I always find articles like this very odd because the cost of living can be so drastically different in different areas of the US.
Like, this headline makes sense to me if they only interviewed people living in California or another state that is pretty expensive to live in.
