Economy 40% of Americans don't have $500 for emergencies

Sano said:
So let me get this straight, in the richest country in the history of the world, people should work themselves to the bone for 10 years straight, living at the absolute minimum, never indulge or treat themselves just so they could scrape together a grand a year? Not only is this completely unreasonable, it's completely unrealistic. What happens if they get sick? What happens if they need a car to get to work and it breaks down? What happens if they want to send their children to college? What happens if they get laid off? What happens if a family member gets sick? So on. There's a million things that could happen to prevent someone from being able to scrape by on a shit salary.

More importantly, these people deserve a decent wage if they work for it. It's that simple. I'm curious, what's your salary? And were your parents well off?
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I clearly stated that everybody, but especially those that find themselves in a low paying job should be CONSTANTLY looking to advance within their current company or find a new job.

Most people are going to spend 40+ years working their asses off. That's just a fact. The only question is do you want to have something at the end or not?

I illustrated a path for someone that finds themselves in a low paying job with few options to build wealth. 10k in ten years in a menial job. Or 8k a year for the person willing to take on a 2nd job. The goal in either case is to save enough for the down payment on a 2 family, which if bought right will really escalate wealth building.

Considering our parents and grandparents had to go fight wars in foreign countries i don't think sacrificing for a few years is that drastic. Again, im talking about the path for the weakest candidate. Most people without 400 bucks find themselves making 40-50k per year.

My wife and i make about 210k/year. 8 years ago i was working the worst menial labor job for 30k per year. I make 90k now. I still drive a modest paid off car...i have a galaxy 6, i never pay more than 1$ for a coffee. I grew up in a single income house of 45k with 6 of us. That single earner later became permanently disabled when i was 11.
 
Richmma80 said:
This stat was posted awhile back. Who is to blame for 40% of Americans not having 500 bucks? From what I remember, I think the poster blamed the US government.
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People are so entitled and spoiled these days. I get that people fall in hard times, but even at poverty level our standard of living is something like 46 times better than the worlds standard and we live better than kings did a few hundred years ago.
There are also plenty of social service programs out there that will provide food, shelter, and health care.

Only .17% of our population is homeless. Plus even poor people can afford to have television, internet, video games, and a cell phone. People need to be happy for what they have and stop being jealous of people that have more.
 
Raptac said:
That's some pure BS.

Third world idiots come to Murica with nothing and become successful but lets pretend actual Muricans have no access to the success table.
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Cool story. Just because some succeed or excel under dire odds doesn't make the odds proper, you absolute twattlebird.
 
Personal responsibility.
 
panamaican said:
It's not surprising. I don't think people realize just how hard it is to live on minimum wage or in some of the more expensive cities. People can criticize their savings, which is fair, but only to a degree. 57% of Americans have less than $1000.
104708016-170828_GBR_Savings2017_1920x1080_OVERALL-1-1.jpg


Are we really going to argue that almost 60% of Americans have no fiscal sense at all? I doubt it, there is obviously a systemic issue somewhere when a country this wealthy has such poor savings rate.

Look at the 2 biggest groups - people will $0 and people with $10,000+. Does that make sense? A normal distribution would put the highest percentages in the middle with the ends being the smallest, we have the opposite. Why?
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Looks like things are getting worse for the people in the greatest country on earth. Lol at "greatest".
 
Sounds like people need to learn budgeting and saving. No way it should be that high
 
MilesAbove said:
Cool story. Just because some succeed or excel under dire odds doesn't make the odds proper, you absolute twattlebird.
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What odds, don't know up a chick before finishing high school.

must suck being a failure.
 
Steve-French said:
People are so entitled and spoiled these days..
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These days? as opposed to when?

30 years ago people had pensions, unions, nearly free college, inexpensive housing, a 40 hour work week, lower retirement age, cheaper healthcare etc.

The reasons millennials complain more is because they see how much easier their parents had it.
 
kahiljabroni said:
I clearly stated that everybody, but especially those that find themselves in a low paying job should be CONSTANTLY looking to advance within their current company or find a new job.

Most people are going to spend 40+ years working their asses off. That's just a fact. The only question is do you want to have something at the end or not?

I illustrated a path for someone that finds themselves in a low paying job with few options to build wealth. 10k in ten years in a menial job. Or 8k a year for the person willing to take on a 2nd job. The goal in either case is to save enough for the down payment on a 2 family, which if bought right will really escalate wealth building.

Considering our parents and grandparents had to go fight wars in foreign countries i don't think sacrificing for a few years is that drastic. Again, im talking about the path for the weakest candidate. Most people without 400 bucks find themselves making 40-50k per year.

My wife and i make about 210k/year. 8 years ago i was working the worst menial labor job for 30k per year. I make 90k now. I still drive a modest paid off car...i have a galaxy 6, i never pay more than 1$ for a coffee. I grew up in a single income house of 45k with 6 of us. That single earner later became permanently disabled when i was 11.
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You hear that, everyone?

This one guy's anecdotal evidence proves that there is nothing wrong except yourself. So go get yourself some bootstraps at the abandoned bootstrap store.
 
skysolo said:
You hear that, everyone?

This one guy's anecdotal evidence proves that there is nothing wrong except yourself. So go get yourself some bootstraps at the abandoned bootstrap store.
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Not really anecdotal...i laid out a clear plan.
You should have more faith in people.
 
djacobox372 said:
These days? as opposed to when?

30 years ago people had pensions, unions, nearly free college, inexpensive housing, a 40 hour work week, lower retirement age, cheaper healthcare etc.

The reasons millennials complain more is because they see how much easier their parents had it.
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So because you arguably have it worse than one generation then you should ignore the fact that you have it better than 99.9% of human history. Gtfo with the boomer envy already its pathetic
 
7437 said:
And I should believe your sample size of 1?
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You already do believe me. You know I'm right. You are desperately begging for a source so you can pretend I'm not.

All anyone who actually lives in the world has to do is look around on the train/bus/at the mall etc and see dozens of low income people with Jordans on, playing on their iPhones.
 
Cunningham said:
You already do believe me. You know I'm right. You are desperately begging for a source so you can pretend I'm not.

All anyone who actually lives in the world has to do is look around on the train/bus/at the mall etc and see dozens of low income people with Jordans on, playing on their iPhones.
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And you know these people are low income because..... they have iPhones?

Or do you know they are low income for some other reason
 
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