What’s interesting is that this doesn’t even tell the whole picture.
Because those people earning $170k/year? More than likely their net worth is negative. They owe more than they’re making, and even at that income rate and excluding long term debt, they have just enough in savings to last three months max.
Most people that are making that kind of money are pretty smart. They have multiple investment strategies, multiple places that they store their money, and typically have some sort of easily accessible nest egg (like a mutual fund or crypto). I guarantee about 3/4 of them have enough to last AT LEAST 6-8 months without a job before things started getting a little tight.
If your living within your means and making that kind of money, you don’t really have to worry about losing a job or things breaking down, or other big issues (short of medical emergencies).
What’s interesting is that this doesn’t even tell the whole picture.
Because those people earning $170k/year? More than likely their net worth is negative. They owe more than they’re making, and even at that income rate and excluding long term debt, they have just enough in savings to last three months max.
Most people that are making that kind of money are pretty smart. They have multiple investment strategies, multiple places that they store their money, and typically have some sort of easily accessible nest egg (like a mutual fund or crypto). I guarantee about 3/4 of them have enough to last AT LEAST 6-8 months without a job before things started getting a little tight.
If your living within your means and making that kind of money, you don’t really have to worry about losing a job or things breaking down, or other big issues (short of medical emergencies).
Yeah and those are national statistics.
You don’t hit the top 10% in New York state until you break 330k