LogFAQs > #979612686

theAteam posted...

It goes way beyond income since covid. Some people make 100k but got into a home at <3% interest and a car that went up in value vs. someone making 200k but didn't buy until 2022 at <5% interest and the same car $20k higher. It's very possible the person making less income is better off financially.

Like my HH is ~350k but that income was half that last year (both got new jobs) so we're in that "bought recently and getting fucked by interest rates and inflation" camp. My mortgage would be half what it is 4 years ago but I didn't make enough then to buy. Yes we can eat big payments on the current income but I still don't feel comfortable and don't feel like I can easily save a lot.

Are you accounting for retirement savings and things like that? I get all of what you're saying, but I do feel like some higher income people forget that if they're maxing out retirement funds and IRA, they're already ahead of the vast vast majority of people. But because that saving is done before they see their paycheck, they don't really count it as "savings"