Quote from: JimboToronto on March 30, 2020, 05:21:49 PM

Quote from: jojo69 on March 30, 2020, 04:29:41 PM

I don't have the big diesel truck, I don't have the fancy smartphone with the big data plan, I don't have the 50" TV with subs to all the streams.

I do have the emergency fund.

People made their own choices what they were going to use their money for.

The ones who are "out of touch" are the ones that thought they could keep spending at or beyond their means and think that nothing bad would happen.

You forgot the biggie - debt.

Also, job dependency and premature consumerism.

People have been so brainwashed into getting a job, a car loan, a mortgage and a credit card that it's no wonder they have no savings.

Smart people save before spending.

I know two PhD grads in their early 30's that married last year, and have a newborn baby this year.

They have virtually no savings and both have student loan debt up the whazzu. They both have expensive car loans. They just bought a house end of last year that's WAAYYY over their paygrade. (House is ~$400K, they barely put down 10% and they both have to work $70K jobs each just to afford it).

And guess what...the Einstein dad just got laid off.

This is how the "smart" people in America are planning their lives. Roll Eyes