High Earners Can Still Struggle

[boefixepa]

This is a link to an AOL article. I read it and I shook my head. Boy does America in general really need to realize that it's not all about things and apperances.

AOL Jobs - Articles - High Earners Can Still Struggle - AOL Find a Job

I'm sure that there are more people out there like this then we think. I wa amazed at the stat that sain 1 in 5 household earning more then 100K a year could NOT support their lifestyle for more than ONE month if they were to lose their income. Amazing.

[jedi]

This is indeed an eye-opener. I didn't know so many high-income earners could be in such bad financial shape if they were to lose their income. Their expensive lifestyle is much to blame...

[simpleyme]

the more you make the more money people will loan you ,the worse shape you could be in if you have a major crisis in your job or life

[mwgr5]

I too am amazed at the lack of personal finance and investing knowledge. The US has a horrible savings rate and live a lifestyle often fueled by credit. I think there should be more education about finance and investing in high school.

[PrincessPerky]

the bigger the paycheck, the harder the fall.....

[n_vizion]

Very scary. I used to evny folks who "appear" wealthy. Now I look down on the flashiness because I know that there is probably a load of debt behind all of that bling.

[Ima saver]

I am so surprised that people think we are rich and make a lot of money. Truth be told, almost every family that I know make more money than we do. But they have very little to show for it except a lot of expensive gadgets.

[Aleta]

Something not talked about is how much larger homes are that families buy now compared to years ago. It doesn't matter how much you make; it's how you spend what you earn.

The media constantly beams out, " have it your way, you've earned it". So, what we get is a lot of people who no longer believe in delayed gratification. Most young people today want to have what it took their parents a many years to acquire. It's also a looking good generation. That's why anymore I find it easier to not watch a lot of the new series because they portray so many of these lifestyles as if everyone lives like that.

[LivingAlmostLarge]

Can I also point out that a lot of high wage earners have HUGE STUDENT LOANS????? Doctors, Lawyers, even MBAs now have 6 figure student loan debt which may contribute to their inabilite to survive with job loss. Not justifying, but trying to explain that some of it is due to the fact they are starting out, with lots of debt without even say a house.

[txex86]

No matter what income level one is at, it all depends on how you spend it that determines your financial well being. Unless you are a Bill Gates or Oprah, money management is essential.

[Ima saver]

We do have a pretty big home, 3200 square feet with 2- 2 car garages. But my husband built it himself and we have no mortgage. Being a builder, you really need a nice house to show your customers your workmanship.

[simpleyme]

I am so surprised that people think we are rich and make a lot of money. Truth be told, almost every family that I know make more money than we do. But they have very little to show for it except a lot of expensive gadgets.

whenever we talk to others we usually find we all make about the same money, people assume we make way more than them ,mainly because we never whine about not having money

not having any consumer debt other than our mortgage sure makes a difference,