There are people who make $500k/yr who are worse off than people who make $50k/yr. Income is not financial security.

[getmoney310cpt]

Went to get my nails done at a nail spa.
Chick comes in nearly in tears.
Says they have over 6 million in assets/net worth…whatever.
Nail tech asks her why she crying.
Lady says they are 10 million in debt.

More money means nothing if you constantly live above your means.

Alternatively, one of my cousins has been a professor for the last six years. She bought her house back in 2014. She makes around 70k per year.
House note: $800
Car note: $0 (paid off and don’t want a new one)
Car insurance: $90
Cell phone: $70
Lights: $90
Water: $25
Student loan: $175
She brings in about 4700 monthly after taxes. She lives very comfortably. Isn’t even a 6 figure/6 cert chick. Just lives below her means, in a beautiful home, nice car and saves her money. She travels at least twice a year and is well on her way to retirement no stress. Has a good savings account and retirement portfolio.

You don’t have to make a gazillion dollars to have a good life.

800 dollar mortgage can’t be anywhere In California must be Alabama or Mississippi maybe New Mexico or Idaho

 

[TheGreatMTB]

yeah so cost of living can make high salaries sound better than they are...

but if you're making 500k and you're worse off than a 50k person you're just stupid

 

[Serious]

get the hell out of here with that garbage

35% of millionaires say it's 'going to take a miracle' to be ready for retirement, report finds

Fewer Americans, including millionaires, feel confident about their financial standing.

www.cnbc.com

 

[Wig Twistin Season]

I have a millionaire family member who didn’t spend when they were broke or middle class and is still very frugal as a millionaire. It’s habits, budgets and living BELOW your income level that will keep you breaded up.

 

[chineebai]

Not really. At some point people have to realize that having more money doesn’t teach people how to manage money. If you can’t control spending at $50K at $500K your problems will likely just scale up.

It’s people that won the lottery for millions and in less than a few years were broke or worse because they never took the time to learn how to control spending.

I can tell you straight up there was a time in my life where I could have been given a million a year and I would have spent it all and more being left messed up.

Yeah but in context of the tweet it has to be assumed that 2 people making those different amounts have similar financial management skills. Otherwise these types of tweets and conversations can be anything. Like a billionaire can be worse off than a homeless person.

Obviously poor money management can come at all levels and if that’s the point then the tweet should say that and not some arbitrary comparison.

 

[OperationNumbNutts]

The bad habit is actually simple. Some folks who make more spend more to the point they live pay check to pay check. I advise folks to look up the 30 for 30 documentary "Broke" if you never saw it.

 

[winb83]

35% of millionaires say it's 'going to take a miracle' to be ready for retirement, report finds

Fewer Americans, including millionaires, feel confident about their financial standing.

www.cnbc.com

Financial irresponsibility can scale to any income.

Yeah but in context of the tweet it has to be assumed that 2 people making those different amounts have similar financial management skills. Otherwise these types of tweets and conversations can be anything. Like a billionaire can be worse off than a homeless person.

Obviously poor money management can come at all levels and if that’s the point then the tweet should say that and not some arbitrary comparison.

But that tweet isn’t lying having a high income doesn’t guarantee financial security. Many people let their cost of living scale up to their income regardless of how high it gets with no regard for how to maintain that lifestyle. I would argue that someone making $50K is under more pressure to be financially responsible than someone making $500K.

 

[chineebai]

Financial irresponsibility can scale to any income.

But that tweet isn’t lying having a high income doesn’t guarantee financial security. Many people let their cost of living scale up to their income regardless of how high it gets with no regard for how to maintain that lifestyle. I would argue that someone making $50K is under more pressure to be financially responsible than someone making $500K.

Of course it’s not lying because it’s arbitrary. But to compare it to a salary 10x less is quite melodramatic.

 

[⠝⠕⠏⠑]

800 dollar mortgage can’t be anywhere In California must be Alabama or Mississippi maybe New Mexico or Idaho

Lmao! Right outside of Charlotte, NC b4 the price of housing jumped.

 

[Heafcliffe]

Lifestyle creep is what bodies so many.

Underrated post.

 

[Wild self]

Lifestyle creep is what bodies so many.

Cats need a re education of not living out their Cash Money Birdman fantasies. Just cause you actually have the $$ in the bank account, don't mean you need to stunt excessively.