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I don't understand the arguments in the responses here. OP isn't trying to say we shouldn't be responsible with our money. The relative lifestyles are irrelevant - in an absolute sense, the fact is from our early 20s we've all made more than the average household income and while that might not get most of us to the lifestyle we want it's not something we should take for granted
Obviously we have college educations and opportunities that they don't... But I'm pointing this out partially to help myself stop stressing about money so unnecessarily, and to take a step back and see things from the working class's perspective, which is something I have really struggled to do over the last year.
Yes and no. Using averages, the average American also has $10K+ in credit card debt, has no retirement savings and can't afford to provide for their families (pay for college etc.). Sure we make more than the average American but the lifestyle we all seek isn't really average, slightly above average or above average. We all want way beyond average lifestyles so let's judge everything based on that. Hell, I spent $100K+ on my corporate card last year it's not really comparable.
Unless you adjust for purchasing power, your statement is a non sequitur. 64K is nothing in New York, and a fortune in rural Kentucky.
Yeah, calculate your effective hourly rate if you feel like you're too privileged.
@OP just for more clarity I know plenty of ppl with degrees that are still making like 40k so, including folks like lawyers so it's not just those without a secondary school education. We are fortunate.
Lol at everyone who feels like they need to argue this fact. OP is just saying the truth.
Thanks Op. It really is a good reminder.
I really appreciate these responses. And D1 and D2, I totally see where you're coming from, but I'm not trying to put us on even playing fields but rather make a point about how fortunate we are to be in our position. Im hoping a point like this can help our industry see what's been happening to the working class and even attempt to sympathize with them while also being a bit easier on ourselves about money
Not really comparable OP. I don't look at my phone 4:45 waiting to clock out right at 5:00
Thank you KPMG1- you get me!
The people on here arguing about an apples to apples comparison are stuck in the weeds about OPs message
1) No one told you to live in NYC. That's your spending decision. "I'm not rich. I spent all my money!" doesn't work for me. 2) Most people who are paid hourly don't work 40 hours either. They work overtime or multiple jobs to make ends meet. 3) Yes - exactly - money is relative. That's why we are looking at medians. If you earn more than the median, you make more than half of people.
I personally struggle with the fact that I made more money out of undergrad than my parents made collectively in the middle of their careers
On paper it makes total sense given the facts of our situations, but it still feels weird to be a derpy kid and make more money than people who have to support *a family*
OP, definitely a valuable perspective and something to keep in mind in order to remain grounded and humble.
D2, the median family income in NYC is $57k, and in Kentucky it's $41k. I do agree with your point that purchasing power adjustments should be considered.
I just came from the PC principal meeting for that kid who's expensing dinner for his side chick. I gotta say I like it here a lot better.
This is a really good reminder, but then I think about my 150k+ in credit card debt and my POV returns.
The median household income in NYC is fairly comparable to the US average. Actually US average is higher in recent years.
"On paper it makes sense"
Just saying from a gut feeling perspective
Thing is that it's not an 🍎 to 🍎 comparison