Observations on life

Six figure income and no savings? Are these the people who need “expanded” Social Security😎 Do they have money for a daily latte?

My judgemental self is at it again. Is there any excuse for the following other than the inability to set ones spending priorities and standard of living? Give me a break‼️🤑

All of this would be none of my or anyone else’s business except surely society will feel obligated to bail out these folks when they join the ranks of the perpetually poor senior citizens. 

Its hard to feel sorry for someone making six figures, but a new survey attempts to drum up some sympathy for the deflated bank accounts of these high rollers. Close to half of those who earn from $100,000 to $149,999 a year have less than $1,000 in their savings accounts. Some 18 percent of them have socked away absolutely nothing. The study, from financial services website GoBankingRates, found that those who earn over $150,000 annually dont fare much better: Some 29 percent have less than a grand in their savings, and 6 percent have nothing saved at all. The study surveyed 7,052 Americans in August. 

Source: http://www.bloomberg.com/news/articles/2016-09-20/make-six-figures-there-s-a-decent-chance-you-ve-got-almost-nothing-in-the-bank

Advertisements

1 reply »

  1. Why is this a surprise? This is the result of Affluenza at its best. Keeping up with the Jones, Madison Avenue turning wants into needs, buying more house or car than you need and all with easy credit. I understand the millennials but not people old enough to remember the energy crisis of the 70’s, the high inflation of the 80’s, the wars about every decade. But the millennials should be taking a lesson from the dot.com bust of the 90’s and the housing bust a decade ago but they are not.

    As long as politicians talk bailouts and extended entitlements people will expect bailouts. After all it worked for the banks.

    Like

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s