58% of Americans are living paycheck to paycheck including 30% of those earning $250,000 or more
How the hell do you live paycheck to paycheck with a TC of $250K+? Splurging on luxuries? Living a uber wealthy lifestyle? With inflation at 40-year highs, workers across all income levels are having a harder time making ends meet. As of May, 58% of Americans — roughly 150 million adults — live paycheck to paycheck, according to a new LendingClub report. That’s down slightly from 61% who reported living paycheck to paycheck in April but up from 54% in May 2021. Even top earners say they are stretched thin, the report found. Of those earning $250,000 or more, 30% are living paycheck to paycheck. (Another recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more are living paycheck to paycheck.) “Consumers have experienced a tough last couple of years as different factors have affected their financial lifestyle, and there seems to be little relief in sight,” said Anuj Nayar, LendingClub’s financial health officer. https://www.cnbc.com/2022/06/27/more-than-half-of-americans-live-paycheck-to-paycheck-amid-inflation.html
I have 100 dollar cash lol TC 270k
What happens when you bid for a house way out of your price range^^
What exactly is the definition of living paycheck to paycheck?
Good question. I live paycheck to paycheck by design because since I got a health emergency fund, everything else (outside mortgage and utilities etc…) is getting invested. I technically live paycheck to paycheck and I am okay with that.
having money saved in emergency funds and/or investments means that you don’t live paycheck to paycheck lol
I think $250k folks will not have much left after mortgage, childcare, 401k.
Depends how much you over did your mortgage (obv depends on location)
I am maxing out 401k so i get like $300 per paycheck. Article is true. Base 160k
Depends how much of that 250k is stocks and RSUs, which is paper money. These studies usually count against take home cash only.
I will always live paycheck to paycheck. I split my direct deposit so what I need to live/pay bills goes into my checking and everything else goes to savings. That said, when I got into tech, I was shocked how many people are actually living paycheck to paycheck. I had a coworker who made around what I made (about 120k) and she told me she never put anything into savings and was going into debt every month. She had a luxury apartment, a Tesla and bought lots of fancy clothes.
Ya not everyone has savings mentality. They want to live the best in the now, and not worry about future. Yolo life
The devil is in the details, not a catchy article title.
Bay Area housing and cost of living. Making 250K pre-tax doesn’t go very far when those folks are dropping 4-7K a month for housing alone to live in a “luxury” complex. Add $7/gallon gas prices and inflated food costs
Early June called they want their clickbait back
😂😂😂