some of us live in major cities and have to spend that money on frivolous things like rent, bills, food and insulin.
Agent641@lemmy.world 4 days ago
Do people not aggressively prepare for this all the time? If you’re being paid $150k a year, you should live like you’re getting paid 75k a year and save the rest or use it to purchase some security for the future, like a years supply of pantry foods, or pay down your mortgage.
funkless_eck@sh.itjust.works 3 days ago
Agent641@lemmy.world 3 days ago
I live in a capital city too, but if I’m not putting away at least 30 of my income, then I’m still living dangerously below my means. I have socialized healthcare but I’ve still experienced joblessness for 6 months, homelessness for 2 periods of about a year and a half each, and minimum wage. Being aggressively careful with money helped soften these situations, and now that things are going well for me ( I only just stopped living in my car in March) I’m still applying those same principles to my everyday budget.
ChickenLadyLovesLife@lemmy.world 3 days ago
They do not. People making $150K a year think they will keep making that (and more) for decades to come, and it’s ludicrously easy to spend all that on useless shit. Shit, just drugs alone can take most of that.
JustAnotherPodunk@lemmy.world 3 days ago
Literally the reason we established social security in the first place …
Hawk@lemmynsfw.com 3 days ago
Tbf cost of living in such areas, assuming not remote, can be igher too and that consumes a chunk of the higher salary.