LogFAQs > #976316843

action52 posted...

Yeah.

Now it's true that a lot of it is due to societal pressure pushing them to spend beyond their means, which is bad. But unless they got stuck with a really bad mortgage / property tax situation or something, almost all of them could probably be able to save some money for retirement if they changed their spending habits.

likely multiple brand new luxury cars that are bought on credit

I think this is the most common offender, even more than housing

but also these types tend to sell their house and upgrade to an even more expensive one so while they could have stayed in the old house a bit longer and maybe paid it off they keep increasing their debt