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    Do people really have this kind of money, or is much of what I’m seeing out there (luxury cars, constant dining out, expensive vacations) just a lot of debt disguised as wealth?

    Do people really have this kind of money, or is much of what I’m seeing out there (luxury cars, constant dining out, expensive vacations) just a lot of debt disguised as wealth?

    Do people really have this kind of money, or is much of what I’m seeing out there (luxury cars, constant dining out, expensive vacations) just a lot of debt disguised as wealth?
    byu/Call_It_ ineconomy



    Posted by Call_It_

    18 Comments

    2. SirRumpRoast on

      I’ve felt this same kind of bitter. How can the average guy buy a $100k pickup truck? This is a sign to go out and change careers. People making money in droves…somehow…

    3. LegoRedBrick on

      I would say on average most of it is debt fueled. But it’s impossible to know without any info on what job they have. People who make $200k+ in income can often live luxurious if they don’t care about saving money.

    4. Yourprobablyaclown69 on

      I think the data speaks for itself https://fred.stlouisfed.org/series/CCLACBW027SBOG

    5. Pennies2millions on

      We now live in a split economy. Those that have a college degree and specialized in a field have done very well. Those who were able to specialize in a field without a college degree have done somewhat well. Those that don’t specialize at all are poor. 

      In short, yes people do have that much money. Source: I work in financial planning and meet with people everyday who have done well for themselves. Before I was a planner, I just worked whatever job was available (non specialized work) and was very poor. 

      If you want more money in today’s economy you can’t just be a hard worker. You have to be a hard worker who is really good in one particular area. 

    7. Qrkchrm on

      Just listen to a couple episodes of Dave Ramsey and you’ll figure out how people pay for their trucks.

    8. watermanatwork on

      Rich get richer, everybody else gets poorer. Some things never change.

    9. Barbiegrrrrrl on

      There are often couples where their combined income allows this. Two professions making $300k+ in cities is not that uncommon, or less in a lower COL area.

      This allows them to split many bills and have a high disposable income. Even more so if one person has a job with benefits and the other has a business.

    10. Big_lt on

      I’m an older millennial. I graduated college in 2010.

      I paid off my student debt in my 20s, I lived with 5 roommates post college for a few years before I found a cheap spot in a town I liked close to the major city. Prior to my move my commute was 90min each way via train. I had the same old car from HS through college and into my first place post college. I then sold my car as I had solid public transit being so close to the city. My current salary is 165kn(+ my annual bonus around 15k) but a majority of my wealth is made via stocks

      I always lived below my means and now as I’m approaching 40, I worth over 7 figures with no debt. My network is not including my home. I drive an Audi and pay off my CC every month. I still love well below my means and I dine out about once a week as “date nights”. I take 1 international trip annually. I don’t fret about buying day to day things and I’m consjd just buying a house in cash

      It’s absolutely doable, however you need to give up fun things in your 20s. Skip bar nights, skip vacations, live with roommates etc. Until your debts are gone and you’re building wealth

    11. DDayDawg on

      I deal with a lot of wealthy people in my social circle due to our kids schools. Yes, there is a ton of wealth out there. You would be amazed at the number of people with means. But, none of those people are flaunting it on social media. So if you are seeing that, it’s either fake, debt, or daddy’s money.

      And while I’m at it let me say that the people with means usually have something in common: family money. I’m not saying that no one makes it on their own, but that is very rare. Almost everyone I know that’s wealthy already started on 3rd base.

      I joke all the time about my lazy parents not creating “generational wealth”.

    14. KebabCat7 on

      When was the last time you looked at the casino numbers? Millions have made fortunes over the last 2 years.

    15. Mookeebrain on

      I eat out or get take out often but I can’t afford vacations. I had to buy a cheaper car than in the past, too. I spend a lot on dental work, eye glasses, and car maintenance to be honest.

    16. bkinboulder on

      Credit card and auto debt are at all time highs right now. Not to mention the national debt. The economy is a house of cards.

    18. Look_b4_jumping on

      As others have said, live below your means and invest the money you saved. It takes a while but you will be rich by your late 50’s early 60’s.

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