I work 85 hours a week 2 jobs 7 days a week & every 2 weeks my bank account is STILL negative hundreds after i pay all my min payments rent car ins car payment etc. its a never ending cycle & i have NO free time or life at all
It's being poor and surrounded by money that really messes with your mind. I'm working to be an electrician (~3 years now) and I am absolutely surrounded by EXTREME wealth. wiring houses that sell for $8+ million dollars, installing Tesla car chargers, multiple guest bedrooms, 9 bathrooms, etc and I see absolutely no way of having anything like these people. My work gets harder, my hours get longer, I know more than I did in the past, and I'm still stuck at like $20 an hour. It feels bad working to build a townhouse who's monthly rent is more than twice my monthly income...
I know how you feel as a house cleaner. Most houses that I clean are worth millions and I also clean a lot of houses that are used once a month or even a couple times a year. It drives me insane because I make $14 an hour and probably won't be able to move out until I'm in my early 20's.
@DatingMatis156 Dont feel bad... I would almost put money that 85% of those people can only afford to put 5$ of gas in at a time. I bet its rare they ever have a full tank. It also has to do with the fact that most people want to "floss" like they have alot of money so they get the high end model. All the while their interest rate is sky high will remain in debt longer... They end up buying the BMW when they can only afford the Camry LE and not the XSE.
Something has definitely changed. A generation ago, one wage earner could easily support a family of two to four children. Now, two wage earners are hard-pressed to support a family with one child.
Yes But now Thanks to Uber if you want to keep up with your bills, You Just have to Work more Drive more l, have 3 Jobs, And believe when midia Blame Immigration mean while Billionaires Only Get richer and ends Minimal Work safety conditions, and who doesn't like, they Always can switch for a cheaper, until everybody feels the pain and react together, they'll keep "squeezing " "Middle class" and making them believe that's Imigrants or Government fault...
That is not correct. You have to go back about three generations before a single income could support all that family. Things changed with equal rights in the late-60's.
@@TomcatSTL Your mileage may vary depending on where you grew up. My dad was the sole breadwinner in my family in far western North Carolina and he could not read or write. He was a heavy equipment operator at the local power company.
@Dan G my partners grandfather was sole breadwinner and he had a fairly regular job and 3 kids. They always had an extra kid living with them whose parents were struggling too.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
"In the late 1990s, evidence emerged that Swiss banks took in more than $4 billion in looted assets - including re-smelted gold stolen from Holocaust victims - and held them for decades. The Swiss banks had long denied that they held victims’ gold, claiming that their only holdings were assets from Nazi-occupied governments. Following the war, $4 billion worth of gold was distributed to central banks in Europe: not one ounce of looted gold was returned to Holocaust survivors. On October 21, 1996, Hausfeld Chair Michael Hausfeld, with a team of lawyers, filed a class-action complaint against Union Bank of Switzerland, Swiss Bank Corporation, and Credit Suisse on behalf of Holocaust victims. Hausfeld led a historic legal battle in the US courts, alleging that the Swiss banks were the chief financiers of the Nazi regime and laundered stolen funds, jewelry, and art treasures in furtherance of war crimes, crimes against humanity, slave labor, and genocide."
As a younger 30 something, I have been saving all my life and I STILL cannot move out of my parents house. I know many people in my exact situation. Life is tough right now.
It's been that way for over a decade now. We need to stop taking boomers at their word that hard work will reward you. Hard work can get you disabled and denied benefits. You can die as a result of your work environment. Warehousing and trucking industries have a higher rate of illness and injury than the military. Its literally worse than a war zone. It's not an exaggeration to say it that way. It's a war against equality and it's being waged by employers to extract money for the short term wealth of those who already have too much. The poor no longer just stay poor. They become homeless or die. That is the reality. It is nothing short of that.
Don't move out from your parents you will only regret it in the future. Stay as much as you can, if you move you will feel like a sucker because you immediately have to pay so many bills and rent, you will not afford to save anything.
If I could afford the bills I would. I pay my parents rent money and buy groceries for them so it works out but buying in this over priced market right now is hard to pull the trigger on
Try to have multiple side hustles on top of your primary income job! You can do it- me (27) gf(24) are planning on getting a 500,000 house in Florida this summer.. We will be putting down roughly 300,000 , and mortgage the remainder of 150-200,000. You can do this !
Middle class to me means we are stuck paying all the taxes but don’t qualify for any of the benefits. So it’s paycheck to paycheck and all of our paychecks are smaller than they should be, but costs go higher all the time.
t@@Foomanlol I'm in california and thats the reality. I know plenty of folks who intentionally keep their hours low so they can keep housing, food, utility, and medical benefits. When we're penalized for working, the system is messed up..... anyone who is on benefits is taught to spend every penny and never keep savings either, because if your assets are too big they cut benefits.. but one can only save $1k before suddenly that's too many assets. And considering the cost of home or car repairs, $1k isn't much. It's a mess.
Fr, it's not a feeling that you buy 700-800 dollars of food and you barely have money left to spend on something you want, the middle class the media projects is a household of 4 people who have their professional careers and work their asses off.
If you're a struggling adult still living with your parents there's no shame as long as long as you are helping around. We as a society need to being back the sense of community where everyone helps each other if they can.
One answer might be to move back into the economically depressed regions of the Rust Belt I saw a documentary on Frontline about three cities and one was Youngstown OH where a refurbished 60 yr old house went for sale for $45k.......yes 45k in 2019!!!! The same as a average new car. That's dirt cheap..... I would consider that since i don't belong in the South.
I think it's about time the wealthy AKA the parasites, maybe pay their fair share of taxes and pay decent wages. And universal health care. I was doing ok until I got sick. Now I have around 50k in medical debt. Will never have a house or a loan for anything, I'm F'd, and getting sick is pretty common, and trust me, your health insurance is not good.😢
I love their term "squeezed". If you're barely paying your necessities, even if you do make good money, you're poor. They said it themselves that middle class is living check to check. To me living middle class means you can afford to take vacations every so often, and can handle the occasional bump along the road.
Exactly so basically the people they are calling middle class are not middle class they are working poor. Middle class means you can live comfortably and you can u have disposable and discretionary income, if you have little to none of that you are not middle class you are poor. What I see is a lot of poor working-class people due to inflation and the rise of the cost of living.
They also said standard of living. I know way too many people struggling but they make great money. They want to live in cool cities, close to the cool things. That’s expensive. They have nice new cars they are paying like $500 a month on. Young adults aren’t having kids, they make good money, they want to live in cities and they are willing to and able to pay high rents further hurting others.
@@johnmorrison5502 A lot of the jobs available in those areas are not available for those who are in the more rural areas there is a reason why towns exist people kept moving to them even centuries before why people flock to cities
@@Introvertsan The problem is these people have built an identity over their lives that "other"ed working folks like fast food workers so they cant admit they too are poor workers
@@jaad9848 that's a good point too because I realize in some office jobs people act very extra and look down on people who work outside even when they are coworkers some extend that treatment to trade workers which is funny because while they are on their high horse being broke and poor with their noses turned up at them so of the people who work outside or are trade folk make more money in one week than several months of their salaries and have assets which they do not have
What is rarely mentioned is we worked harder, longer, and better, while going nowhere. Medical insurance is a factor $1850 a month, car insurance $300, taxes, high home prices, and now food is scary high.
Love to see how college education costs 50x more than when I was in college 20 years ago. Classes are almost all the same, lectures, large group classes, labs taught by TAs, and I’d like to see where legitimate exponential rising costs can be rationalized by these institutions.
College is a fraud. I've seen so many young employees come into the workplace with degrees that have NOTHING to do with the job they have. Most are straddled with high tuition bills. They assume that high paying jobs would be lined up at their feet. Most don't realize that you need to continue to work on yourself well after college to get that good paying job.
College and universities make so much money they could pay the tuition for everyone in the country and probably have enough to pay their bills for the year
My experience right now is that my university has big brand new buildings, spends money on the most useless stuff and professors don't teach at all and just confuse students more, thus hindering learning. All of this is not good for student morale.
Debt is a burden on a good day, but with inflation, I feel like there’s a weight on me getting heavier by the month. My income isn't keeping up, so those monthly payments are squeezing my budget even tighter.
If you couldn't pay cash how many purchases did you make that your life depended on it? I have no debt small savings and unless me or a family members life depends on it I don't touch it only contribute to it. It's called responsible finance .
Employer-provided healthcare is a culprit here. If your comfort and health depend on your employment status, employees will always feel on edge. This has to end!
That is so low on the list tbh. We need higher wages that are actually liveable. If we have money we can choose what we want to do with it, but wages haven’t kept up with inflation for 40 years
Why is America so poor? Ask the landlords that charge 4k per month for a studio in San Francisco or New York. The middle class meanwhile gets paid $7 per hour. All the shopping places charge $50 for a tea cup just to pay rent of $10k a month. United States capitalism is working well for the landlords and politicians that charge $$$ and exorbitant taxes to own property so they can keep people on Welfare and voting the crooks to stay in power.
@@BrightWendigo If we have healthcare for all then we will be in a stronger position to negotiate for higher wages. And we will feel bolder about starting small independent businesses without the spectre of financial collapse if your kid breaks his collar bone.
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
I've come to realize both bear and bull market provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
Well the US-stock market has been on it’s longest bull-run in history, so the mass hysteria and panic is understandable seeing as we’re not used to such troubled market, but there are opportunities lurking around if you know where to look while everybody’s been screaming falling sky, I’ve netted over $850k in the past 10months.
The adviser I use is actually quite known, you might have heard of her, Ingrid Cecilia Raad, she's been featured on several platforms including CNBC and Bloomberg, you can search her name.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Julia Hope Marble , and she's really good.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
I learned from past mistakes not to rely on rumors and hearsay for market judgments. In 2020, I held worthless positions until I revamped my portfolio with the help of an advisor. Since then, I've scaled up $450k in 2 years, regardless of market conditions. It's all about where you're looking.
Thank you so much for this tip! Finding your coach was a breeze and I was really impressed with all the research I did on her credentials before scheduling a call. It's clear from her résumé that she's extremely knowledgeable and skilled, and I'm so excited to have the chance to talk to her!
I think saying things like "middle class lifestyle" is the problem. There is no "middle class lifestyle". There is a statistical middle class and what they can afford today is different than what they could afford back in the 50's and 60's. Being an average earner doesn't buy as much. That lifestyle that the 50's middle class enjoyed is now only enjoyed by upper middle or low-tier upper income earners.
Is it? How big were the houses in the '50s? Did they have 2 cars in the driveway? What about mobile phone bills for hundreds of dollars? Did they travel often and far? People had a different life back then and it is difficult to make a real comparison. I do think that middle class today, even with all the struggle, still has a more prosperous life compared to 70 years ago.
@@Hans-gb4mv well even if they do today, statistically their Millennial and Gen Z children will be poorer than their parents. Also, the phone thing is such a stupid thing to include, as if people who have jobs and lives today can function without a cellphone. Plus people buy phones on credit or payment plans all the time.
@@Hans-gb4mv if you think the reason why people can't afford big houses is because of cell phones and travel, I suggest you look at the cost of housing relative to the wages over time. That explains it all and it has nothing to do with the small perks of participating in modern life.
@@SU1C1D3xPR4D4 this is completely false because those houses still exist and are still occupied. The issue lies with developers who in order to maximize profit, decided to build bigger houses.
I lost my job for a couple months and my entire world flipped upside down. I still have not recovered to a level I feel safe at. Right now I’m one paycheck from financial failure. All because I lost a job (due to a illness) and took months to get another job.
You didn't save up an emergency fund, that's your fault. It doesn't take that long to get a job. You're applying for jobs in preference, that's your fault.
The Savings Rate just collapsed down to 2.2%, the lowest level ever. Means Americans are running out of money. Last time it was this low was 2006-07. Right before GFC. Major Recession Warning. Expect a big decline in consumer spending in 2023. In five years, I would be retiring or working less hours, so I'm just curious about how people divide their income-specifically, how much goes to investments, savings, and consumption. I make about $165K a year, yet there is now nothing to show for it.
I can't tell from your post if you have a 401(k), but with $165K in income annually and nothing to show for it, it sounds more like you need to review your monthly budget because you are living beyond your means. Seek financial advice, reduce your monthly expenses, and any money you save should be invested wisely.
@@IAMBETTERTHANYYOU I'm self-employed, therefore I sponsor my 401k companies, and I'm open to multiple income streams. If you've worked with an advisor before, how was your experience with them? Is it as profitable as you make it out to be?
@@Americanpatriot723 Yes, a Fidelity financial advisor named "LISA ELLEN SHAW" put an end to my fears about investing, and after making more investments, I was able to reach the seven-figure mark in less than 3 years. A licensing advisor satisfies the necessary security criteria; hence, reimbursement is guaranteed if I'm dissatisfied with the service, so I'm much better off hiring one.
@@IAMBETTERTHANYYOU Thanks for this advice. Finding your financial advisor was easy after looking her up. I found her website afterwards, left a message and hopefully she will reply soon.
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from TH-camrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The apartments I stayed at when I was 18 was 650 for the 2 bedroom, that same apartment complex wants almost 2k for 2 bedrooms. That was only about 15 years ago, the houses I pictured myself living in by now that were 200 to 250k are now half a million to 700k.
I a word: housing. Housing takes more of the budget than any item for most families. We have allowed housing to be financialized and let the media ignore the problem.
In San Diego it is absolutely insane. My sister tried to move here with a short list of reasonable requirements for a home with a budget of over $1 million. Couldn't find anything and gave up.
@@thedopplereffect00 It means housing is used not as housing, but as an investment vehicle - a place to park your money and get a good return on it. Like Real Estate Investment Trusts buy up single-owner apartment buildings and jack up the rents - so the investors who bought into the building can get a fat return on their investment. The same thing is happening to single family homes and even mobile home parks - instead of producing goods or services, now the deal is to sequester housing and rip people off for access to it.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
It is a wonderful comment, but meanwhile are you aware of her Wall Street is part of your problem and that wonderful word expectations. The expectations are that you get poorer and they get richer that’s the expectation and will buy a couple of governors to make sure this happens.
@lesleadarkstar I got raises at work and then not long after taxes go up and inflation negates whatever advancement I make. Rent is sky high, and it's always one thing after another, so I don't really get ahead. At work they are cutting hours, so I'm going to look for another job.
American problem is they lost industrial base, and they have nothing to trade except weapons and overprinted money. I'm glad i had liquidated most of my major assets on the financial market at premium price before i call bad investment!
Do you think selling is a wise decision? I wonder if selling is the right move despite the recession and impending recession, as I am a huge pro-economy person. But it is also dependent on your risk limit.
@@mvanwie Interesting. Nonetheless, I stand corrected. Did CBCC recently highlight Yvonne Annette Lively? She discussed how the economy is fuelled by debt and credit. Despite the fact that she is quite expensive, it is better to be cautious than sorry, right?
No, you're just feeling what it means to always need GROWTH GROWTH GROWTH OR ELSE when you have finite resources. Capitalism has failed a long time ago, Reagan just accelerated it. We dutch did this with tulips, now do it on a grander scheme with a more macro vision and wait, it won't happen in a decade, but the signs are becoming more and more apparent.
My parents bought a house in their 30s. They are just regular ass people. Mechanic and a day care worker. Now you basically have to be a PHD couple or C level management to get something. The bar has risen very high.
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2024 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
It's good you make your own research. and make sure whoever you work with is licensed n verifiable with a repute, this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.
Well, i'm a member of the working poor. And i know i am not alone. I cannot afford a vehicle, and all the cost associated with it. I buy only ingredients at the supermarket. No, pre-made food. No restaurants or takeaway. No vacation in MANY years. And i bring a packed lunch to work. I'm just surviving. But, i see people living homeless. So i feel blessed. Lastly, that lady at the end with the Master’s degree. Proves a point i've always have said. Formal education, does not always equal intelligence.
I live in italy, I am a workers safety doctor. I worked 10 years (part-time) in northern industrial areas. I always lived like a working poor, because my education is "spartan". 400euros mono apartment, no vacations because my hometown was in south of italy so I was satisfied with the place and the sea. I dont feel the need of vacations, I tried it sometimes (south-east asia) but I think its a waste of money. It's normal here to buy ingredients to eat, it sounds strange and unhealty "pre-made food". I bought a good car (mercedes E) in 2011, just for the job and highways or weekends and I still have it. Its very healty with 150k miles. I DO THE routine stuff on it, in my garage, since 6 years now. I use everyday an old, cheaper and smaller 2003 car for daily stuff with 250k miles. I PREFER to use it, I feel better (spartan). After pandemic I almost retired from my job at 45 y.o. because now I have more than 400k in bank and I dont know what to do with them, I dont need to spend money to feel better. So, now, I work only on business trips, when I want (almost a week/month), just to make something different, a hobby. So I can choose only the best payed jobs, reducing working costs. Still, I put apart 2k every month, from 3-3.5k net. Money calls money, life is like a poker cards game: if you play poker with few money, you always lose even if you have the best cards. The first commandment is: NO DEBTS. Second commandment: you dont need to spend money to be happy. Happiness is the money you put apart, because you buy your freedom and, soon, money calls money. Even now, I live in mono apartment, in my hometown. I dont pay rent because my parents own it. I have a 4 times bigger apartment for free but I dont want to move, I just feel confortable here. Thats the way I am used. ps: this year I didnt renew Amazon Prime because I dont use it and it costs 50 euros now. 50 euros are insignificant for me, but I dont need amazon prime! Why should i need it? Morale: we are not poorer, we are just unsatisfied with life and affected by consumerism.
@@giorgiogiorgi932 What you're doing is called the FIRE ( financial independence retire early) movement in the USA. I agree, the best thing you can buy with your € is your freedom. I think a lot of people find out that when their investments have grown and they have to work fewer hours, they have less stress to "get away" from on vacation.
It's not just in the US. Even as a child I understood the value of investing and passive income. If you are financially independent, you truly have the freedom to reach your potential. The reason we are so much better off and richer than humanity ever has been was because of the Industrial Revolution viz that we automated most of our work and so have more free time to actually do what we want. AI is supposed to replace human beings and I always thought of it being a future like WALL-E where it takes care of basic human existence and we have the freedom to do whatever we want. There are many magnates, including Elon Musk, who think the same way. But instead of AI being used for charitable and philanthropic purposes, it looks like it is simply being used to fire and get rid off as many employees as possible to reduce operating costs. The few who remain have to be EVEN more knowledgeable and capable in order to keep their jobs. @@3namechangezalowdevry90day7
I always thought middle class is someone who can responsibly afford payments on a less than 5 year old mid-tier vehicle, own a home, has decent health insurance, & a retirement fund. This is coming from someone who has none of that.
Payments on a car…that is your first messed up thing you typed. Buy used and use cash. If you can’t pay cash…don’t go over 5k for that car. I know a lot of middle class types that always buy used so they don’t have payments.
@@pistachiosandpopcorn7146 I can agree with that. I personally drive a 99 Honda and am having the engine replaced this very week. I running that thing until the wheel fall off. I've had car payments & hated every moment of it.
In my opinion, the definition of being middle class needs to be changed. It should be based on spending power, and not just income. Being middle class should depend on whether a family could afford to pay all their bills(mortgage/rent, electric, gas, etc..)every month, and still have money to save for an emergency, fund a retirement account(s), and still be able to go out spend on things like dinners and shopping.
I'm no longer middle class because my only income is social security but because my mortgage is paid for I have a small car payment no other debt I live better than when I had a house payment and a bigger car payment and was working . I'm still able to put a set amount of money into savings every month. I dine out more times a week now that I'm not working because I have more time. I still shop the same way I did when working buying markdown meat and other markdown items shopping for clothing and household items at thrift stores and garage sales the only big difference is I'm not putting money into a 401k or Roth IRA just a savings account. I guess it depends on where you live and your lifestyle
I think the definition has been wrong for a while. You rarely hear of anyone being called 'working class' in America, but it is a common phrase in the rest of the English speaking world. If you work in factory, mine, shipyard, mall, office you are probably working class. I would go as far is saying if you earn a salary or hourly wage you a working class (I know there are obvious exceptions to this rule, but in generalities it is true). The middle class is term that should be reserved to upper level professions, doctors/lawyers etc. and owners of businesses, with 10 or more employees. I think because the working class in the US was doing so much better than the working class in the rest of the world for a couple of decades it has skewed the term. I don't believe it really matters if you have 2 cars and a picket fence, if you clock in at work, you are working class. @blongshankss77, your definition could still be working class.
Overall, 60% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025.
Nobody knows anything; You need to create your process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@JacobReynolds-t7v A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember a couple of summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@@KacieLehman How can one find a verifiable financial planner? I would not mind looking up the professional who helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@JoeWilmoth-k2w Victoria Carmen Santaella is the licensed fiduciary I use. Just research the name. You’ll find the necessary details to work with a correspondence to set up an appointment.
It depends on what you get, rice beans frozen veggies and some fruit are not more. Buy meat on sale (close to sell by date) or frozen vs fresh, pork cheaper than beef, get creative as our grandparents would. Don’t buy it if too overpriced.
@@lancasterpennhere’s the thing, a hard working citizen shouldn’t have to feel guilty and their wallet being bled dry for wanting to eat their favorite meal once in awhile
I grew up on welfare. Joined the Marine Corps, had decent take home pay, decide to go to college bc you know you get paid more! I graduate with an engineering degree and end up having less take home pay than I had as a Marine. There are very deep issues which will take a lot of effort and time to make it so that a grown man doesn't get paid like a kid who lives with his parents.
@@Steinwagner15 There are plenty of opportunities! Apologize for the discouragement. I took a job I shouldn't have. Wait for the opportunity you want, even if it's a small setback. I'm making the move into Software now using VET TEC. If you put in the work, being a veteran will only help.
I got out of he Army after four years to go to college. After college, I worked for 15 years before deciding to join the Army Reserves at age 41. Did 5 deployments, paid off the house then retired at age 60. Pension is not a whole lot but it pays all the bills and leaves some over. Best decision I ever made.
The lady with 100k household was quite amusing because her breakdown showed they just lived outside their means. Not to mention she talked about how getting married made HER get taxed more, completely ignoring the fact that her husband taxes were lowered because they are married and as a WHOLE they pay less taxes because they are married. Then the LIFE insurance, $800 car payments (screams either a a short 3 year loan, buying cars way outside their means, or bad credit), $280 for phone (screams either paying off phones that aren't necessary or having a phone plan that is expensive and likely not necessary), $400 for car insurance is extreme if they get multi car/other discounts. Not to mention, she mentioned her check was $3000 (weekly/biweekly?) but made no mention of her husband's salary which would have further shown that they just have poor money management.
this family is putting money into retirement and education funds, and buying insurance policies, and then acting like those are expenses rather than assets. they're just whiners who don't understand their own finances.
Why has she taken out life insurance on her child? When I worked in the insurance industry, one of our vice presidents said the company made a big profit off life insurance for children.
@@gbb82 Perhaps they have medical issues that mean life insurance is a necessity. Its also known that credit terms can be higher depending where you live, your job, your long term income, your contract of employment. The assumption is that she was paying it all. Her husband could be studying. She did not that what was going into the college fund was small (knowing the cost of even basic college and student loans). Middle class earners in the 50-70's also had retirement plans, college education saving and some had life insurance. Yet they had money at the end. Most often had 2 cars. Most owned their own home unlike the example.
In these unpredictable times, it's crucial to manage money wisely and invest prudently. My $240k reserve has been idle with little profitis not increasing more than 5%, inflation is eroding my savings. I need a solution to protect and grow my funds.
stock market crying with little down tick while we have been dealing with double digit real inflation for a year. consult with an advisor so you don't get burnt in the market.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had major portfolio yields of over 88%, so I'm not going back to relying solely on banks.
Honestly I was in this position for a decade. So I took control. I changed jobs every 6 months and went to the highest bidder for 2 and a half years. I upped my salary by 40% in that time. I made them pay me for my experience and skill level.
I work in HR and can testify that is the best way to get a higher pay..loyalty to a company just isn’t of any value anymore…a company will lay you off in a second if they need to for their financial reasons ….an employee is just a a number to them…people should move to a new job every year, unless they are being paid extremely above market
I do the same thing. My field has gotten start though and terms of employment are commitment agreements so that sucks. But for me, life still happened and my debt didn’t change.
@@JazzyJae88 I'm sorry to hear that things have been so difficult. I know in the State of Florida it is an at will state, so that an employee can leave employment at anytime for any reason, and the employer can terminate employment likewise. I don't know what field you're in, but maybe you can negotiate those terms before your next contract. Most businesses are struggling to find enough employees right now, so they will probably be willing to negotiate in order to keep you there. Praying that you will be paid more fairly in the future 🙏
When I moved to the US the spending culture really shocked me. Little things like eating out instead of cooking, buy a coffee and seasonal decor. I don't say that is all, I know student loans, rent and more, makes it hard. I feel for the people who cannot pay health and housing.
The ‘seasonal decor’ gets me too and I’m American. The people that do a different Christmas theme every year and spend so much money buying all new decorations. Why?
@@pholliez I promise you moronic foreigners from across the pond that people finding the smallest amount of happiness by putting lights on their houses and candy canes in the lawn is NOT what is causing poverty and suffering for the lower and middle classes. It's not.
Same the decor is the decor das it. This year I splurged and bought a small plastic Christmas tree and dollar store decorations. I’m gonna use that every year till it turns to dust
But they aren't comparing Americans with other nations, Americans have been able to do those things for decades but bad policies and regulations have driven up the cost of everything. If you make something and the government puts roadblocks up it makes that thing cost more.
Our consumerism is off the charts. I have a friend who makes a modest income but leases a $50k + car every 3 years and they've redone their living room furniture twice that I know of just for a "refresh". They can certainly afford to do this kind of stuff but should they, especially when it comes to detriment of other things? Not long ago this same friend was stressing about having to chip in for her parents retirement home soon and complaining about utilities bills increasing so much in the winter. I guess I'm boring, I prefer to maintain my reliable car, keep my perfectly good furniture, and sleep really well at night. Helped my dad retire at 61 since I had a big chunk of savings, he was in position to do so but stressing about medical I pretty much wrote him one big check and said this covers all of your medical until you are of age, no excuse now to not retire and chill.
I'm 38. I've been working 50+ hours a week since I was 20. I'm burned tf out and my mental and physical health are paying the price for it. I always find myself making yesterday's great money and today's just enough to cover a mild inconvenience. I live frugal. I save when I can. My 401k contributions are paused because I need the money now. I don't expect to retire, buy a home, buy a new car, or any of that. Given the state of dating now, I don't expect a family. I expect to go to work and fall over dead one day. That's what I see as a very real possibility.
There should absolutely be no way that foreigners are allowed to purchase American land & homes, and there should also be a limit on how many homes people can own to leave some for others.
I was definitely in the middle class while working in high tech industrial training, but then I experienced an accident caused by poor contruction of my garage (a national company) that caused traumatic brain injury and could never go back to my job. No one explained that I could have gotten Disability, so I had to use my IRA for 13 yrs to survive before I could get Social Security. So now, Social Security is my income, and since I couldn't work those 13 years, my SS payment is much lower than it would have been. I had to move from the city and live out in the middle of nowhere, the nearest Walmart is 45 minutes away. Thank goodness for Food Banks for Seniors and knowing how to home can food. I just hope that my car outlives me.
I'm so sorry to hear that Monica. That sounds like an awfully tough situation to go through especially to no fault of your own. I wish you the best in your retirement.
@@DOJODAR thank you! At least I no longer have to fight Houston traffic! Our local joke in our very rural area is when we get 1 car at each of the sides of the traffic light, it's a traffic jam! Luckily my parents grew up during the Depression so I heard their stories and learned how to adapt.
@@JoeySav I understand and agree with you. Some countries see older or disabled people as throw aways. Luckily I ignored my boss and others who tried to convince me while I was working to do other things with my money. Being my stubborn self, I ignored them and had that money when I needed it.
I was fortunate enough to buy a home in 2009 when the housing market crashed. My mortgage is $950 on a house that is now worth $800K. My housing expense is set for the next 15 years. I held off on buying in early 2000 when houses prices exploded. Even though banks approved me for a large loan I just did not want to be house poor. Now houses are back to ridiculously high prices and now it almost unreachable for middle class folks to buy a home.
I bought my house in 2006 and went under water after 2008. I was being told that if I didn’t buy then that I would be priced out of the market. You were smart to wait. I ended up paying my house off so it worked out for the best, but it would have been much better if I waited a few years
@@Navy35 There is nothing like having a mortgage free property! Congratulations! I am getting there. It's going to free up a lot of financial freedom once my home is paid off. It would definitely decrease my anxiety of losing my job or being stuck in a job I hate but forced to stay to pay my bills.
@Ronald Reagan I know that. Pathetic? On who’s part? That money came to us and then probably circulated into the economy with six times its original impact. I don’t normally get windfalls, myself. It was certainly a nice surprise!
How can you be middle class if you can't buy a house, have children due to cost, save money, or pay your mortgage or rent on time? Sounds just like poor people to me.
@chrischoy9 that doesn't prove my comment wrong though. Plus most people can do all of those. And most people make a middle class income or above. Also, if you can't do all that it doesn't mean you aren't making a middle class income
You do have a choice. Be a victim or do something about it. Trying to change or hope the macro situation will change is futile. Budget is number one. I doubt half these people have a budget. If you ask someone what their mortgage is and they don’t know down to the penny, I doubt they budget. And if you choose to take on 100,000 of student debt why should it be forgiven and payed for with my tax money? If I don’t pay for my house they take it back. Maybe if you can’t pay for your degree, they should take it back.
We feel poor because the salary for my position didn't increase for 12 years. Medical bills, child care, health insurance, and everything else sky rocketed.
Why would you stay at that company all those years and hurt yourself? Did they compensate you with bonuses or stock options instead or salary? If not they're saying you're worth less than when they hired you. You have to job hop nowadays. If I don't get at least a 6% raise every year I start submitting resumes.
$280 on phone plan is crazy high. Especially if you are already paying for internet. There are plenty of low data prepaid plans that are around $15-$40 a month per phone.
Agreed. But i would argue that she is buying a new iphone every year or two so that increase you overall phone bill. Like how she has a car payment of $400/month while i have $0 car payment. Budget is just a term that means “i manage my money”, however it does not mean i live frugally bc i have a budget. I can live extravagantly on a budget too.
That’s because we don’t matter to them, we shouldn’t have any problems since we only have ourselves is what they think. We don’t get nearly as many incentives as married people or those with kids.
Nothing unique about these problems except for the first one. It just sucks, because we're supposed to be the country of freedom but once you peel back the curtains you see it's all a lie.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
Infarct, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
Went into the military in 2007-2011 to pay for college. Got a supply chain degree. I've been progressively making slightly more money (going from about 26k in military to 34k right after college to 42k in my late 20's and now I'm around 55k. None of it has mattered. If I wasn't bunked up with other people this 1 bedroom apartment would cost 50% of my monthly income. Food would eat up the other 50%. I have to live stacked on top of other people in order to set anything aside for the future. And having kids? Forget it. Things are hopeless for ME and I made some pretty lucky/wise decisions. I can only imagine how hard it is for people who have made some bigger mistakes.
Leave NY/LA or wherever you are and use your VA home loan if you got an honorable discharge. Plus whst did you do with that BAH from the GI Bill? You're mismanaging your VA benefits.
Living in a high cost-of-living city while making a modest wage is not a wise decision. If you make at least six figures then that justifies living in San Francisco or other expensive places. Otherwise, you're just asking to be a hobo.
@@themostsecretscience6409 I have attempted to use my VA home loans multiple times, but each time I've been outbid by cash offers from retirement investment firms. And since it has been a sellers market for the past 5 years or so, no sellers want to mess with the VA loans because they often require the seller to make repairs to the home before any money changes hands. Basically, the VA does a lot to protect the veteran buyer and sellers don't want to deal with that hassle. As for the BAH...I used it while I was going to college? I only got like $1200 per month at the time. "Allowance for housing" doesn't mean they give you a house. It means they give you a stipend to live off.
@@cryora I do not live in a "high cost of living" city like LA or NY or any coastal places. I'm living in the Midwest. Home prices are inflated EVERYWHERE, it's not limited to coastal cities. Yes, housing prices are lower where I am than in those places, but they're still too high to afford AND save money for the future AND raise children.
Trust me u have made the right choice and,things will be better for u …just don’t give up ….I’m going to be 31 & I’m facing hard time …I came here almost 10 years ago with broken English & I lucked English,direction,confidence…things didn’t go the way I wanted too…worse my health nosedive ..I had surgery ..it’s really tough man …after 10 years I got nothing to show for it ….I’m actually embarrassed to visit my country or to talk to my parents…immigrants used to thrive in America and,nowadays even Americans r struggling…the future of this country is scarring me …honesty i don’t see any positive things.
A quick point about that crazy high phone bill...if you can live with a capped data plan, you can get it down to around $15/mo per line. That's what I'm paying for unlimited talk/text with a 3G data cap. If you can live with a 1G data cap, it gets even cheaper. Most places don't advertise those plans, so you have to go into a store and ask for it. I'm using T-Mobile right now, but I hear Mint mobile is good too.
We don’t feel poor, we are poor. I wouldn’t even consider myself middle class. But I do own my home, I knew I wanted to be a home owner young so I had somewhere stable and I wasn’t paying nobody else’s mortgage. So I worked hard at 19 and built my credit for 5 months to get it. Now, I do get behind on my mortgage. I was in forbearance for over a year. But if I were renting, I’d be homeless. Thankfully I can be late on my mortgage and there’s options. As far as car payments go, y’all, sell them expensive a** cars. With insurance and car payment, I was paying $500+ for a 2017 honda. I said f that, sold it, and insured two old cars that my dad helped me get for under $1000 each (very very fortunate to have him). The insurance yearly for two cars is less than it would be for me to keep that Honda for just 3 months!! Go on Facebook marketplace and find a beater Honda Accord for $2500 and figure out how to do the regular maintenance on your own from TH-cam. Do what you can to bring your debt down. I know these things won’t work for everybody, and again I do struggle and live paycheck to paycheck and I’m still behind but at the end of the day make sure you’re living within your means.
@@Zordiak you can be poor and own a house. I come from poverty. I just used the US credit system to my advantage. I try to teach my friends this all the time. You can buy a house with literally $0 down if you just educate yourself.
Country with most millionaires 🇺🇸 Country with most billionaires 🇺🇸 Country with most small businesses and start ups 🇺🇸 Best hospitals 🇺🇸 Best universities 🇺🇸 we run the world
I’m sorry this is a dumb take of good ole American exceptionalism. Look, nothing wrong with earning a billion dollars, but when you hoard hundreds of billions and cannot find a way to use that insane wealth to help others and find more purpose in a wider lens, it’s nothing to be proud of it makes you a bad person. Is a hospital really that good if you’re going to be in 10,000 in debt for a broken bone? Get over yourself.
@@bradIeyyy Having the most millionares and billionaires isn't a sign of prosperity. By that stupid logic having the most number of people means your the most popular country to live in. Wealth distribution, income to cost ratios are a better indicator of economic prosperity. Also fun fact, Billionaires and the ultra rich are just as much of a burden to an economy as people below the poverty line.
You love this video? It’s a parade of ignorance, stupidity and lies. I don’t know where they found a collection of imbeciles. It probably wasn’t hard and it says a lot about the plight we are in
I have to disagree. My wife and I are upper middle class for sure. We both have built solid careers. We save 50% of our income every month and still live in a very nice house with nice vehicles and even an RV. But we make sacrifices and tough Choices all our life. The opportunity is there. My kids both bought houses before they were 25.
@x3dominator28 so you worked a whole bunch? Ok you are working class then, thanks for proving my point. It doesn't matter that you have a bunch of stuff and assets now you WORKED to get it..
One thing about the lower middle,and upper classes is how they view debt. A lot of my family (I grew up poor) avoided credit cards at all costs, and the rich see debt as leverage to build wealth. It feels like the middle class see debt as a means to showcase something- to have something to show for your own life, where the poor and rich see money as what you need to live and grow.
My wife and i are now in our late seventies here in new jersey. We have two daughters. One daughter attended college in rhode island for which we paid out of pocket plus we paid for her wedding later on. Our other daughter attended a very prestigious private high school in jersey followed by boston university for which we paid out of pocket followed by a wedding. I cannot imagine a middle class couple undertaking such out of pocket expenses today.
Unfortunately the children will have to take out loans for school like most of us and no private school at all... Your generation had the best this country had to offer...paying for someone else's wedding? 😂 😂😂😂 A huge privilege that's unfamiliar to most
@@So_Cato It is tradition for the bride’s parents to pay for the wedding. But girls didn’t used to go to college. So the expenses, for parents who shoulder them, have exploded. Now it seems spoiled.
I don’t consider myself poverty level, a very okay middle class, but I have a teenage son and I already know I cannot afford to pay for college. So the cycle of family debt continues because he will need student loans just like I did. And a wedding? Forget it. I’d never be able to pay for one. Hell I didn’t even get a wedding because I couldn’t afford one.
Last year, I left my toxic job that underpaid me and found a new job that paid more but now I realized that it’s still not enough. $20 an hour is the new $15. Also I’m the type who always saves money but then I ended up with hospital bills and now I’m in debt. I ended up in the hospital before my health insurance went into effect. I experienced really bad chest pains due to stress from my job. I saved over 10,000 and had to spend all of it paying off my hospital bills and I still have one I have to pay off. I also had to close my ROTH IRA account to withdraw money I needed for my hospital bills. So for everyone who says to budget, don’t overspend, and save sometimes things come up where you have to go into your savings and still end up in debt.
And society wonders why middle class and lower middle class young adults are not having children. Young People are in survival mode. Pay off Student Debt, Paying Car expenses, Paying Taxes and Insurance, and inflated basic living costs. All this while living with parents.. Not conducive for a positive outlook for a future generation to be brought forth..
Same with me I went from making $13 an hour being a caregiver for 5 years to working for Amazon making $18 an hour( the most I've ever made till this day) just tried to go get myself an apartment this last week just to find out that I don't make 3 times the rent. Rent is only 900 sum. And I live in Houston. I was so excited to be making more but I guess the economy caught up with me real quick and sat me down
@@lavaregion6968 How do you deduce me saying we are poor as me being Entitled? Not just entitled but extremely Entitled?? Lmao wealth is relative. Being poor in America probably is better than anywhere else but it just doesn’t change the fact that you still can be relatively poor within the USA. Your basing your rationality on skewed averages of American wealth that’s mostly held by the very few majority of millionaires and billionaires of the world which are indeed American.
No- that is absurd. Our "poverty" is relative- we FEEL poor compared to our wealthier neighbors but that doesn't mean we are poor by any objective measure. The median household income (not the average, which is skewed by the millionaires) is about $77,000 in the US even after adjusting for recent inflation. That is not poor. In terms of disposable income (income left after taxes and including govt payments to low-income people), we are the highest in the world. We beat the #2 country by over $10,000 and #3 by over $15,000
While I agree costs are higher than they have been, too many people live beyond their means. If you have debt you are living beyond your means. Don't buy a $40k brand new vehicle if you can't afford to pay cash for it. Don't charge up a bunch of things on a credit card that you can't afford. People think the government should and will provide for them, but the only one that really can is you. They've told us student loans will be paid for just to nix that plan. Don't wait for the government to do something, get some extra jobs and get your debt paid off quickly. Once the debt is paid off entirely you have so much extra cash that stays with you rather than spending it all on monthly debt payments. Then you can save up and pay cash for what you want and need. People are trying to do too many things at once. Don't go out to eat or take vacations during your debt payoff, that just elongates the time you take to pay it off. I'm debt free now, but have been eating a lot of sandwiches lately and it's amazing how much cheaper it is to eat that way than eating out. You really can't save or invest when you're paying off debt. People usually don't have the income to do all of that at once. Especially if you have a $700 car payment, plus other debts. Sell the car, get a cheap $5-$6k car. Get the rest of your debt paid off, build an emergency fund, then save and pay cash for a more reasonable $15-$20k used car once your debt is paid off. It's so freeing to have nothing owed to anyone. Live within your means. You may complain that you're too good to drive a $20k car, much less a $5k car, but that new car you drove off the lot was immediately worth much less than when you paid for it. Even a year in it's lost at least 1/4 of it's value if not more. That $40k car might be worth $20k in 2-4 years. Make sure you have an emergency fund of 3-6 months of expenses so that you can afford to pay for emergencies as they come up rather than pulling out the credit card when an emergency happens because that will cost you 20-30% in interest a month if you carry the balance. If you're putting emergencies on a credit card it is because you can't afford to pay it that month and will carry a balance and pay interest on it. People aren't getting anywhere because of all their high interest debt that accrues interest nearly at or maybe even above the rate that they make the minimum payments. You need to put extra money into it, not just the minimum. The only way you can do that is to up your income for a period of time. I paid off $50k in debt in 10 months. Door Dash, Uber Eats, fixed and sold computers on the side, did car detailing on the weekends. Anything extra I could make I did. I also ended up selling a car I liked that was already paid off to push me over the edge and get the debt paid off completely. I'm now debt free, with an emergency fund in place, paying cash for a 2 week vacation, and I drive a $5k vehicle for now, but am saving up for a much nicer one in a year or two.
The problem is the top 1 and .1 percent taking what they owe the workers. Over 100% and over 300% growth in income while worker wages are not at all keeping up with inflation? Disgusting.
The problem is that a lot of middle class type manufacturing jobs that supported families 30 years ago have ended up in China.All these imported products we buy are making us poorer and weaker as a nation.Both political parties starting with Clinton sold us out to China.
Workers wages were beating inflation until Biden and the Demoncats started spending crazily, on top of Trump's wild spending with the Democrat Congress before that.
The majority of line workers today are not on the same level as line workers from 20 or more years ago. I could teach workers from 2 decades ago in several different ways and they would do their job at a good pace. I try to teach people in the way they learn adjusting language to their experiences. I get workers today and I make adjustments as I work with them but a large percentage of them either have little memory retention or too distracted to make major progress towards learning a position. I am not supervisor just a good fellow line worker but many come to my job need remedial education not the college education they are attempting at the same time. It’s not just a common sense issue. A large junk of them quit with no job replace the current because they can keep up in a slow retail job.
The moment I realized we are poor is the moment I asked "why am I paying $1000+ in taxes every month and I got nothing back?!" We are truly struggling and no one is helping.
@@TheV8nissaneducated yourself about USA military budget before making comments like this. Also, you would be ok watching how Russia colonize Ukrainians ?
You get nothing back? When’s the last time you had to watch out for other countries invading with tanks? Do you have roads? If there is a tornado does anyone come help? Y’all are so entitled YOU don’t see how much your government does!!!!!
Middle class is not middle income. If you are middle income and can hardly afford rent, much less a house then you are poor, not middle class. If you can't afford a $500 surprise bill, then you are very poor, and 60% of Americans can't afford $500. How can 58% of Americans be middle class, if 60% are very poor? Your math doesn't check out.
@abram730 you can make 500K but if you spend 500K then you don't have $500. That doesn't make you poor. It makes you stupid. That's why those statistics are useless without knowing people's spending 60% aren't very poor. That's just factually incorrect
Mind saying what that figure is? I'm sad where things are now. I'm 28 and earn $112k but it's not the same. Dad used to tell me that 100k salary was this and that, i have it and everything is so expensive, especially homes/rent. I'm grateful, but feel for those making less.
First, people. QUIT buying cars that are so expensive! Buy a 2 or 3 year old vehicle, have a mechanic check it out. When it is paid off, use the payment money to start saving for the next car & pay with cash. That lady’s $280 a month for cell phones is ridiculous. She can do much better - & she needs to look at the fool in the White House to recognize how much WORSE the middle class is vs. the prior administration. All can be connected to BIDEN’s shut down of Keystone pipeline which would have been finished a long time ago. Fuel costs are ruining everything & the blame goes to climate alarmists.
@@dunkmastercloud4818 Or a surprise rent increase with no other option but to put it on a credit card temporarily. My neighbor's rent increased 53% in September because the market supports it. It's looming.
time stamp? 30.000 over a a few years for groceries is not an addiction, that's cost of living. but in truth, I wouldn't know what we're talking about, since this docu is almost an hour long.
Yeah I think the point was that unrelenting financial stress makes us more prone to leaning into our bad habits, vices, and coping mechanisms. It's a mix of personal responsibility and inherent flaws in the financial system.
I've been a single mom for 22 years. No government help. We live beneath our means, and because of this, we have not had financial issues during this economy. Middle class people are now realizing how they have been blowing their money on unnecessary things. Not having an emergency fund is an emergency. 6 months is best.
The working poor have been dealing with these things for decades. They were told to pull themselves up by the bootstraps. Now that it has hit the middle class it is a problem.
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
This is exactly what happened before the Great Depression. Penny stocks in a Bear market bit the mass majority in the ass when it was time to pay on the losses
I live outside Columbus OH about 45 minutes. My mom lives in Worthington in Columbus. Her property taxes are $1400 month. More than double my rent out here.
What? The math isn’t mathing. $5500 is not more than a mortgage payment on a million dollar house. It’s more like +$10,000 a month depending on the type of loan you get.
Social worker is not a good field to be in if you want money, it’s more to help people. Masters degree and 240k in debt is crazy for being a social worker. People need to learn that just having a degree is not enough. What that degree is in and how you can make use of it after you graduate needs to be thought about before starting the degree. Universities are in the business of making money, they will show all sorts of statistics and sweet talk young adults into degrees that may not be worth it for the students. Masters degree in engineering is worth way more for higher pay and upward career mobility than history.
I moved to St Thomas in 2013 to be a bar tender after getting my bachelor in engineering and working at a $85k job. I was scared at 1st the I suffered a mental breakdown. I couldn't take it so I left America. THE BEST DECISION OF MY LIFE! I no longer have anxiety nor depression. I have real friends whom I call family, we play soccer every weekend plus Tuesday evenings, video games every Thursday and Friday nights, plus party Saturday nights at nightclubs where folks dont flex. I'm really Happy. I wish I've done this earlier. 😊
I went to St. Thomas when I was about 10. Always thought my ideal dream job would be to take people out charter snorkeling. We did that there. Seemed like the coolest chillest job ever!
You can call it whatever you want... A home, retirement savings, health insurance, and food. If they can't afford all of these things and still have kids then it's not comparable to the middle class of other generations. Calling it a middle class "squeeze" or "pressure" is just a way to get around this reality.
5-6 years ago my daughter was paying $1800 rent for her house. She had a good divorce settlement so I told her to withdraw from her pension plan to buy a home. Best move she has ever made.
At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.
Your money is stagnant when you save, I will advise you buy stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance of a broker or financial advisor.
@@elliot985 you're right! If you are unfamiliar with the market, I recommend seeking advice or assistance from a financial/investment coach.With the help of an investment advisor, I have diversified my $450,000 portfolio across multiple markets, We were able to generate over $1.2 million in net income from seasonally high-dividend stocks, ETFs and bonds. For me, this is the most ideal way to enter the market these days.
@@Zanrowe795 Sure, the investment-advisor that guides me is Laura Marie Ray, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
@@robertosaviano215 I just looked up Laura online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals
Don't get me wrong, I know the economy is in shambles and in order to break even and make profit, we have to ride it out until stock recovery, but how are some folks in the same stock market as me still able to pull off substantial profits of as much as 650K within months, what am I doing wrong?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset
@@edelineguillet2121 Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k.
My hometown of Dallas USED to be affordable in the 2010's. The influx of people flocking here increased demand, therefore rent prices have tripled and most of us locals are no longer able to afford it.
I switched to Progressive Auto Insurance as a 25 yr old male and my bill went from $317 to $97 a month. And a $280 phone bill is crazy! Switch to Mint Mobile. There are things you can do to lower your overhead costs.
Yeah, i do both of those things. Geico and State farm were going to charge $250 -$350 for my new to me car from 2018. Progressive charges about $210 (raises rates on me by about 10% for no reason). Mint saves great money as well. Have a roommate as much as i don't like him, I am paying about $650 w/ utlities. Still feels like I'm on the edge though unless i cut my retirement savings down
Yeah you have to jump inusrances every few years to get better and affordable rates. Helps too if your car is older. I never buy a brand spanking new 2024 car.
I'd note that due to lack of public transport options, the example had two cars costing them $1800 per month (before gas). Health costs in the US is also a killer (sometimes literally). I was surprised that taxes took so much from a Texas resident...
They had to buy 2 fancy new cars they can't afford and then complain about being poor, lol. I drove a $2000 car for 10 years before my first new car I mostly paid in cash.
Lack of public transportation is a BIG deal. When I was a very little kid, both my mother and my grandmother took the bus to work. The bus came right into the neighborhood, making it easily accessible. It was actually a big selling point for my mom when she bought the house. Having a house in a neighborhood that was served by a bus line allowed both my grandparents' household and my parents' household to have only one car. The men, who worked farther afield in an area that was not served by the bus line, took the cars to work. The women, who worked downtown, took the bus. The bus was a safety net. Even if something did happen to one of the cars, the family could still get around and at least one adult could get to work. When that bus line went away, both households had to have two cars. The infrastructure is such that there are few bike lanes, sidewalks, or crosswalks, making any alternative mode of transportation dangerous. The bus lines that do exist now, in my area, no longer come into the neighborhoods. People are required to walk a mile, minimum, despite the above mentioned inhospitable pedestrian infrastructure and to stand in unlit areas. The timing often means their commute, which might be 10 minutes by car, might take them an hour or more by bus. So people don't do it, naturally, which then drives demand for bus services down, and then services decrease yet again, leading to a death spiral. The feature that once made the neighborhood attractive to my mom's generation and to my grandmother's generation is a nightmare for my generation. And before anyone goes blaming people for driving "fancy" cars, keep in mind that buying cheaper, older cars often means that the cars are unreliable, need lots of surprise repairs that cost unbudgeted money and time away from work, guzzle more gas, and will need to be replaced more often, meaning folks need a couple thousand in savings at all times in order to cover the unexpected cost of a new old vehicle every time the current one craps out, so once every couple of years. It might turn out to be less expensive, in the long run, to have a larger payment on a nicer car. We need robust public transportation options in more than just a few select cities.
Interesting how 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. This may have worked when I was only using a few thousand dollars to invest, but it is more challenging to decide to withdraw more than $365,000 from my account at this point. Despite the severe bear market, I am aware of certain investors that continue to earn that amount. I wish I could accomplish that.
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
I only work with one financial consultant AMY JEAN ANDERSEN, a financial consultant I came across on a business insider interview, to get in touch with her, just search her name online for all the info you need about her.
Chantal lists her households expenses and what immediately jumped out to me were the car expenses: 800$ payment plus 400$ insurance. If the US would provide reliable and efficient public transit to their residents, these massive costs would be cut for all americans. Chantal could save 1200$ a month, or only need one car instead of two and save 600$ a month. Either way, that's huge savings, and would help her family's upward mobility, as well as the upward mobility of all other american residents
When i was younger i always dreamed of becomming rich and the fact i wasnt nearly there made me sad all the time. a few years ago i had a lot of money, and when i had this money, i realized, all i wanted is more money, i still wasn't happy. Some things happend and i lost most of that money, but something funny happend too, i dont dream of becomming rich anymore, i dont even want to become rich anymore, i let it all go, i dont care about money anymore, as long as i can provide for my needs, wich isn't a lot, health, friendship, passion for hobbies, are worth much more then having a lot of money.
When I was young, I looked at fashion magazines with all their glossy pictures of designer clothes and I imagined having them and being fashionable. But I discovered that I was not in that earning bracket and I moderated my wish list. Now, having much less income, I feel lucky to have my family, my fiends and a roof over my head, I feel rich even if I am not.
crypto ? that is a scam , even thought it always has been at least at the beguiling of it you could have actually gambled and made money , today is a high risk low return roulette you could win big only if you are as lucky in the casino same odds , i suggest you try to learn AI as much as you can until you can figure out what field you can use it for , it’s hard i am not going to lie but is the only thing that could offer you some kind of a future as far as making millions unlikely but you don’t need millions to live in a decent standard
4/10 Americans claim debt is a stressor for them - but 4/10 Americans are driving expensive cars they shouldn't be, taking trips they don't need to, and buying consumer goods they cant buy cash. @5:30 - they have $800 in car payments and $260 for two phones that they leased. Id wager there's a lot more frivolous expenses she's not mentioning. @34:41 - same situation, look at the decor in her house, look at her Subaru SUV, does this look like someone who pinching pennies? People are unwilling to make hard choices for long term gain. There's an unwillingness to accept less than, temporarily, and therein is the root cause of many problems. Is it more expensive right now? Yes, I agree life is substantially more expensive these days, but whining about it and ruining your financial future by spending unnecessarily isn't going to improve the situation - this is the new norm, end game capitalism.
The underlying factor is the reduced taxes on the higher income part of the US. The costs supported by those taxes haven't disappeared, they have simply been transferred to the middle classes in the form of College tuition fees, etc.
Yes, most younger people are unaware of just how high the tax rates on the top 1% or so of earners were back in the 70s. Then came trickle down economics and the idea that the less you taxed the rich, the more money the rich would put into the economy and the better the standard of living would be for the poor and middle class. So top tax rates went down, the federal debt went up, safety nets began to disappear and the middle class began to shrink. And I’m not sure, but my impression is that the tax burden on the lower and middle class actually grew after that. Sales taxes went up everywhere, some taxes became reclassified as “fees”, property taxes became a much bigger percentage of income, and on and on. One unexpected result of the lower tax rates on the highest earners was that CEOs became incentivized to take a much bigger percentage of their company profits since they were now allowed to keep most of that pay. 100k salaries became 100 million dollar compensation packages. I can’t count the number of times I heard about a CEO getting a huge raise after forcing their employees to take a big pay cut during union negotiations. And that was before they started sending the jobs overseas.
@@aliannarodriguez1581 the effective tax rate on top earners is the same as its been since like 1955 The tax burden on middle and lower classes didn't grow
@@jsebby2284 Reaganomics amounted to reducing the tax burden on the rich. This was furthered by the Clintons and the Bushes, all of whom are close friends with each other.
Which help? Interference is not help. I live in one of those countries being “aided” by the US… there has been nothing beneficial for us. It’s a one sided deal.
I’m making 80k and my brother is earning 60k. We both graduated college with minimal debt and are considered “boomerang” children because we keep moving back home. If we want our own apartments, it’s about $3000 a month. Im on an affordable housing waitlist. I’m hoping to increase my income enough to afford an apartment myself but I don’t see that happening for another few years, or unless I find a partner, which is hard to do when you live at home 🤷🏽♀️🤷🏽♀️
Considering the circumstances, there is no shame in living with your folks. Some parents wouldn't even allow it. You are blessed with good and understanding parents.
80k a year is more than enough to get an apartment pretty much anywhere except like L.a or nyc especially like a one-bedroom... I'm at 60k and I can get a one or two bedroom with that ur at 80k
you should stay at your parents home and save then tbh. and dont feel bad about it. in many easter countries its normal to stay at your parents and be able tos ave up until you can make it on your own. idk why a lot of places like the US parents bring kid's in the world and then kick them outt at 18 and say good luck with life.
Its very expensive out here due to Inflation and minimal Raises. I make 70 K but it feels like 50 K because everything is so expensive. These companies are gouging us and this Administration in Washington DC doesn't care. They want us to loose everything so we can depend on the Government for survival.
I'm depressed every day; I used to be able to go on a vacation, go to the doctor for check-ups, go to a gynecologist and just have a little peace of mind with some breathing room. Greed is literally eating up America. That's the truth.....bottom line.
Peoples expectations are just to high now! In the mid '80's, my doctor lived down the street. His house was about 1,800sqft, single garage on a 60 by 120ft lot. Today, my new doctor has an estate. 20 acres, electric gates at entrance. At least 5,000sqft house with 4 car garage. His motor home probably costs more than my old doctors house. Everyone thinks their a Kardashian.
I get what youre saying..but what ive noticed is that ALL the houses they build these days are huge and start off high..,houses like the one you are explaining, the 1800 sq ft, tend to be older and in rougher parts of town..
while that might be true that is not the root of the problem. you just saw the beginning of the video of simply how much salaries have risen compared to housing and college, now it is unaffordable. and that old guy was exactly explaining when took place the inflexion point. mid 70s-80s when capitalism shifted to financial corporativism, deregulation of companies and the stock market. the previous system, based on the Keynesian mindset of distributing wealth across the society was blown up. Particular interests have been put above national interests: companies leaving to third world countries to treat people there as in mid XIX-century just to cut out costs, stock market rules disappearing so things were considered market speculation were permitted, loss of the strength in US unions so nobody to fight for workers' rights home all these combined is bringing our society structure to medieval times. A wealthy elite on top that has all power and resources and a bottom, almost impossible to climb, poor base in which lie the rest, with no access to property, higher education and even affording family. I highly recommend David Graeber on all these socioeconomical topics. Let's not accept this new societal order!
If he worked for it, he shall have it. The old doctor didn't want a bigger house... it's not a problem that your new doctor has a big house. That is not your business.
I have watched this video for over 12 minutes and nowhere is it mentioned that both husband and wife are working to maintain the middle-class lifestyle. The baby boomers did not face this. In fact, a baby boomer was able to make the house-payment easily, and he was working by himself! The wife was not expected to work in the 1950s. This is a huge difference between then and now.
That is 100% the democrats and feminist movements fault. Facts are facts. You can’t socially engineer a country without impacting the economy. No amount of wishing is going to change the laws of economics. Period. When you inject more money into the family unit you increase the costs for everyone. Then destroyed the inner city family units with welfare. This is all on purpose
Say thanks to the neo-liberal order that started with Reagan. He and Bill Clinton was basically the death of any kind of worker party in the US. Now everything is run for to maximize profit for the owning class. Nothing will get better until we understand who our allies are and stand in solidarity with them to demand what has been taken from us.
And if was caused by feminism. Women went to work. Doubling the number of workers. Which keeps wages low. Go back to getting married. Staying together. And the wife at home raising the kids. If we all did this. The families would be better. The job market would improve. And kids wouldn't be so f up
@@notmypotato3730 it's correct that women moving into the labor force has increased supply, but so has lower wages forcing people to work longer and more jobs to survive. In addition to efficiencies requiring less laborers and therefore lower wages for those lucky enough to not get laid off. And our capitalist system gives all of those rewards to the owners, and the workers get laid off or salaries cut.
I have a computer science degree. I have a tech job. I work a second job doing food delivery. It's very hard to be able to save anything here in Massachusetts. If I had kids, it would be impossible.
If you're computer science degree bro, find a work that you can do it even you're in your home or other country just like a remote work bro, my blonde girl friend is pure white American, I bring her in my country Philippines last 2019, she is working in their company in US while she is in my country also her salary is still dollar based minimum salary, so this makes her saved alot of money, because cost of living in the Philippines is very cheaper than to US cost of living, my girlfriend not wants to be back in US she wants to married me as soon as a possible just claimed a sa citizenship in my country. so this means this is not about the country gdp this is about the wise choice. Much poorest countries much cheaper cost of living, just like if you're living in Burundi bro I think you're rich in that country in just only a months of working via remote and having a dollar based salary 😂
@@Raymund38TVM I've thought about this a lot to be honest, I just don't know anything about moving countries and stuff like that. My current job is remote!
Auto loans, mortgages and credit card debt, along with the renting situation is way out of control. It's going on here in Canada too. Just for a roof over your head, with utilities and internet, that's like 60 percent of your income, gone! Getting a side gig when you already have a full time job to contend with too, is not a practical solution to solving the problem. Lets face it, their working us to death 💀 Retirement is laughable. Most will die on the front lines before they ever experience what's its like to be free. When people live with a lack of income, often their sleep is effected, oral hygiene is effected because they can't afford a cleaning, they eat cheap and highly prossed food, and much more. All of these things compound over time. They keep the lower income people fighting amongst themselves by creating all of these stressors, while they (the bank and your landlord) run off with all of our bloody money! 💰 The system is purposely designed to be overwhelming.
If you don't own a home, I'm not sure you are middle class. I mean think about it. About 65% of Americans own at least 1 home. That means 35% don't and about 33% of Americans are working class or poor(11.6% live in poverty).
It’s capitalism. It’s not designed that way, it’s just the inevitable outcome once it’s outgrown it’s usefulness. It’s ready to be phased out because it can no longer serve our interests
We're middle class and doing incredible but we drive old cars, (2003 and 2014 for the wife) have no debt besides our mortgage, and it's a 15 year note that should pay off in about 8 to 9 years. We live in a really nice MCOL working class area in a very old home but 15 minutes from the city. By no means do we 'look' fancy, but having no debt is our goal as a solid foundation to build wealth. It's not about how much you make, it's about how much you keep.
We live similar lifestyles ~ I live in an old Mansion over looking the Pacific on 16 acres of orange orchards in Pacific Palisades! Paid off the mortgage this past February, drive a very old '87 RR Camargue with no car payments, no other debt at all. Just last week I bought myself a diamond watch ~ CASH!
Yes! My goal is to be debt free. I drive a 2001 and that allowed us to save for a home down-payment. Now we're hoping it hangs around long enough while we save for a cash car and pay off what we used to make some home updates.
Well, it’s both! But if the average middle income is $67,000 the its now much you keep. If you make $7.25 an hr minimum wage it’s $15,000 and keeping is good but difficult.
@@vinchenzomarchiavafa962 Increase property taxes for homes that aren't the owner's primary residence. The extra taxes on each should go up for every house over a certain threshold (10? 20? 50? not sure on the best number to use) and should go up more if the house is owned by a company and not an individual or family. Way too many homes are being bought as investments and it's pricing actual humans out of the market.
Ramsey was right about those car payments. The sister said they have 800 a month tied up in car payments. If they were able to buy the vehicles cash which means a more modest form of transportation. That's 800 dollars that can be used more productively else where. Ramsey is right. Get on a budget get rid of those credit cards and car payments. Stop borrowing money. All the things I just mentioned is the very thing creditors use against us.
Every adult I know(40 to 50 years old) have been in the same situation they were in for DECADES, a lot in worse situations now than they have ever been in before
Very true. I'm in my 40's. I grew up poor. I got my Bachelor's degree last year and have two jobs, one is salaried and the other is hourly. I worked while getting my degree therefore my student loan is very small, $3k. However I still can't afford a home and have not saved enough for retirement. I believe I will work until I die. Born poor, live poor and die poor. This is depressing.
I think that a lack of self-esteem is a major factor in attaining huge debt. Many people feel the need to buy things to show off to others so they can feel better about themselves. When you see folks with a fancy house, fancy car, and/or fancy stuff, what you are actually seeing is the visible part of an economic iceberg bobbing on the surface. What you don't see is the gigantic chunk of ice (i.e. debt) hidden below the surface that tells the real story.
Ikr. I remember going to this Doctors house back in the day and the outside of the house was just beautiful. We all thought he’s living his best life. We went inside and the house was so empty (bare bones).
@@Kelogotti no sir he didn’t. He was broke. His student loans, big house and expensive car were horrendous to pay. All he had to do was live like he did when he was a student and pay it off then he could live big time. Not all doctors get paid like that either. It depends on what you do ( like general doctor vs brain surgeon. Now they get paid). I never knew what happened to him. Hopefully he’s doing fine now since it was years ago
The lady in the red T shirt and her husband are overspending. If they paid cash for used cars rather than making payments and meal prepped instead of eating out they'd have more wiggle room. Those phone bills are ridiculous. They could easily shop around and get something cheaper with the same coverage! They're keeping up appearances.
I agree. Stuff is some mask or bandaid to hide behind or to distract from a hurt or wound they don't want discovered. In reality, people really don't care what you own, but they will forever remember how you made them feel. The old saying goes, 'you'll attract more bees with honey than with vinegar."
Being poor is one thing but being poor and working 75+ hours is another thing.
Facts I work 70 hours right now, that's because I want to pay off all my debts.
I was surprised that Corporate Media made something like this
I work 85 hours a week 2 jobs 7 days a week & every 2 weeks my bank account is STILL negative hundreds after i pay all my min payments rent car ins car payment etc. its a never ending cycle & i have NO free time or life at all
@@ashleyuribe_xo I feel you! It's a Neverending cycle living paycheck to paycheck.
Being poor is everything. You lose everything. It can easily cost you your life when you health goes into decline.
It's being poor and surrounded by money that really messes with your mind. I'm working to be an electrician (~3 years now) and I am absolutely surrounded by EXTREME wealth. wiring houses that sell for $8+ million dollars, installing Tesla car chargers, multiple guest bedrooms, 9 bathrooms, etc and I see absolutely no way of having anything like these people. My work gets harder, my hours get longer, I know more than I did in the past, and I'm still stuck at like $20 an hour. It feels bad working to build a townhouse who's monthly rent is more than twice my monthly income...
that wealth is only surface level for 80% of people.
I know how you feel as a house cleaner. Most houses that I clean are worth millions and I also clean a lot of houses that are used once a month or even a couple times a year. It drives me insane because I make $14 an hour and probably won't be able to move out until I'm in my early 20's.
Take your journeyman test for that pay bump
Exactly! America is the worst place to be if you're poor. At least in poor countries you don't feel like a failure.
@DatingMatis156 Dont feel bad... I would almost put money that 85% of those people can only afford to put 5$ of gas in at a time. I bet its rare they ever have a full tank. It also has to do with the fact that most people want to "floss" like they have alot of money so they get the high end model. All the while their interest rate is sky high will remain in debt longer... They end up buying the BMW when they can only afford the Camry LE and not the XSE.
Something has definitely changed. A generation ago, one wage earner could easily support a family of two to four children. Now, two wage earners are hard-pressed to support a family with one child.
Yes But now Thanks to Uber if you want to keep up with your bills, You Just have to Work more Drive more l, have 3 Jobs, And believe when midia Blame Immigration mean while Billionaires Only Get richer and ends Minimal Work safety conditions, and who doesn't like, they Always can switch for a cheaper, until everybody feels the pain and react together, they'll keep "squeezing "
"Middle class" and making them believe that's Imigrants or Government fault...
That is not correct. You have to go back about three generations before a single income could support all that family. Things changed with equal rights in the late-60's.
@@TomcatSTL Your mileage may vary depending on where you grew up. My dad was the sole breadwinner in my family in far western North Carolina and he could not read or write. He was a heavy equipment operator at the local power company.
@Dan G my partners grandfather was sole breadwinner and he had a fairly regular job and 3 kids. They always had an extra kid living with them whose parents were struggling too.
@@BobbyCoggins Your point is good.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How can I reach this person?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
"In the late 1990s, evidence emerged that Swiss banks took in more than $4 billion in looted assets - including re-smelted gold stolen from Holocaust victims - and held them for decades. The Swiss banks had long denied that they held victims’ gold, claiming that their only holdings were assets from Nazi-occupied governments. Following the war, $4 billion worth of gold was distributed to central banks in Europe: not one ounce of looted gold was returned to Holocaust survivors.
On October 21, 1996, Hausfeld Chair Michael Hausfeld, with a team of lawyers, filed a class-action complaint against Union Bank of Switzerland, Swiss Bank Corporation, and Credit Suisse on behalf of Holocaust victims.
Hausfeld led a historic legal battle in the US courts, alleging that the Swiss banks were the chief financiers of the Nazi regime and laundered stolen funds, jewelry, and art treasures in furtherance of war crimes, crimes against humanity, slave labor, and genocide."
As a younger 30 something, I have been saving all my life and I STILL cannot move out of my parents house. I know many people in my exact situation. Life is tough right now.
It's been that way for over a decade now. We need to stop taking boomers at their word that hard work will reward you. Hard work can get you disabled and denied benefits. You can die as a result of your work environment. Warehousing and trucking industries have a higher rate of illness and injury than the military. Its literally worse than a war zone. It's not an exaggeration to say it that way. It's a war against equality and it's being waged by employers to extract money for the short term wealth of those who already have too much. The poor no longer just stay poor. They become homeless or die. That is the reality. It is nothing short of that.
Don't move out from your parents you will only regret it in the future. Stay as much as you can, if you move you will feel like a sucker because you immediately have to pay so many bills and rent, you will not afford to save anything.
Go and get a crash course from the asians and indians
If I could afford the bills I would. I pay my parents rent money and buy groceries for them so it works out but buying in this over priced market right now is hard to pull the trigger on
Try to have multiple side hustles on top of your primary income job! You can do it- me (27) gf(24) are planning on getting a 500,000 house in Florida this summer.. We will be putting down roughly 300,000 , and mortgage the remainder of 150-200,000. You can do this !
Middle class to me means we are stuck paying all the taxes but don’t qualify for any of the benefits. So it’s paycheck to paycheck and all of our paychecks are smaller than they should be, but costs go higher all the time.
Seems like it
Middle Class has morphed into "Upper Lower Class".
There's a lot of truth to that. Depending on the state sometimes you may be better off earning a bit less so you qualify for benefits.
t@@Foomanlol I'm in california and thats the reality. I know plenty of folks who intentionally keep their hours low so they can keep housing, food, utility, and medical benefits. When we're penalized for working, the system is messed up..... anyone who is on benefits is taught to spend every penny and never keep savings either, because if your assets are too big they cut benefits.. but one can only save $1k before suddenly that's too many assets. And considering the cost of home or car repairs, $1k isn't much. It's a mess.
@@inlongingso you all choose to be poor.
It's not a feeling, it's an economic reality.
Exactly!
There are ways to find relief
Fr, it's not a feeling that you buy 700-800 dollars of food and you barely have money left to spend on something you want, the middle class the media projects is a household of 4 people who have their professional careers and work their asses off.
@@angelachanellehuang5663 unfortunately… help is only offered to the extreme poor. Middle class has to suffer
Go sell drugs then. At least you’re not paying too much money when you’re in jail, and bury your money.
If you're a struggling adult still living with your parents there's no shame as long as long as you are helping around. We as a society need to being back the sense of community where everyone helps each other if they can.
Sometimes its the opposite. Parents NEED their kids to survive because of how old they are.
One answer might be to move back into the economically depressed regions of the Rust Belt I saw a documentary on Frontline about three cities and one was Youngstown OH where a refurbished 60 yr old house went for sale for $45k.......yes 45k in 2019!!!! The same as a average new car. That's dirt cheap..... I would consider that since i don't belong in the South.
@@CleverCheetahexactly!!
@@richardalvarado-ik9brthe houses are cheap because only crappy jobs in the area.😅
I think it's about time the wealthy AKA the parasites, maybe pay their fair share of taxes and pay decent wages. And universal health care. I was doing ok until I got sick. Now I have around 50k in medical debt. Will never have a house or a loan for anything, I'm F'd, and getting sick is pretty common, and trust me, your health insurance is not good.😢
I love their term "squeezed". If you're barely paying your necessities, even if you do make good money, you're poor. They said it themselves that middle class is living check to check. To me living middle class means you can afford to take vacations every so often, and can handle the occasional bump along the road.
Exactly so basically the people they are calling middle class are not middle class they are working poor. Middle class means you can live comfortably and you can u have disposable and discretionary income, if you have little to none of that you are not middle class you are poor. What I see is a lot of poor working-class people due to inflation and the rise of the cost of living.
They also said standard of living. I know way too many people struggling but they make great money. They want to live in cool cities, close to the cool things. That’s expensive. They have nice new cars they are paying like $500 a month on. Young adults aren’t having kids, they make good money, they want to live in cities and they are willing to and able to pay high rents further hurting others.
@@johnmorrison5502 A lot of the jobs available in those areas are not available for those who are in the more rural areas there is a reason why towns exist people kept moving to them even centuries before why people flock to cities
@@Introvertsan The problem is these people have built an identity over their lives that "other"ed working folks like fast food workers so they cant admit they too are poor workers
@@jaad9848 that's a good point too because I realize in some office jobs people act very extra and look down on people who work outside even when they are coworkers some extend that treatment to trade workers which is funny because while they are on their high horse being broke and poor with their noses turned up at them so of the people who work outside or are trade folk make more money in one week than several months of their salaries and have assets which they do not have
What is rarely mentioned is we worked harder, longer, and better, while going nowhere. Medical insurance is a factor $1850 a month, car insurance $300, taxes, high home prices, and now food is scary high.
Food prices is killing me
No problem for compliance demanding goons..
$300 for car insurance? I paid less after a DUI.
@@favor4afavor823 you're probably not in Florida then, the road rage capital of the US
Well stated.
Love to see how college education costs 50x more than when I was in college 20 years ago. Classes are almost all the same, lectures, large group classes, labs taught by TAs, and I’d like to see where legitimate exponential rising costs can be rationalized by these institutions.
College is a fraud. I've seen so many young employees come into the workplace with degrees that have NOTHING to do with the job they have. Most are straddled with high tuition bills. They assume that high paying jobs would be lined up at their feet. Most don't realize that you need to continue to work on yourself well after college to get that good paying job.
Not just TAs for lab but many of the lectures are taught by adjunct professors. The universities pay them almost nothing with no benefits.
Because the GOVERNMENT got involved in college tuition....make college loans illegal and sit back and watch as tuition costs plummet ...
College and universities make so much money they could pay the tuition for everyone in the country and probably have enough to pay their bills for the year
My experience right now is that my university has big brand new buildings, spends money on the most useless stuff and professors don't teach at all and just confuse students more, thus hindering learning. All of this is not good for student morale.
Debt is a burden on a good day, but with inflation, I feel like there’s a weight on me getting heavier by the month. My income isn't keeping up, so those monthly payments are squeezing my budget even tighter.
That's an intriguing outcome. How can I contact your Asset manager?
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
If you couldn't pay cash how many purchases did you make that your life depended on it? I have no debt small savings and unless me or a family members life depends on it I don't touch it only contribute to it. It's called responsible finance .
"It's because you made bad decisions in your life".....
Employer-provided healthcare is a culprit here. If your comfort and health depend on your employment status, employees will always feel on edge. This has to end!
That is so low on the list tbh. We need higher wages that are actually liveable. If we have money we can choose what we want to do with it, but wages haven’t kept up with inflation for 40 years
Some things should never be privatized... Energy, Healthcare, Housing, and Education. IMHO.
Why is America so poor? Ask the landlords that charge 4k per month for a studio in San Francisco or New York. The middle class meanwhile gets paid $7 per hour. All the shopping places charge $50 for a tea cup just to pay rent of $10k a month.
United States capitalism is working well for the landlords and politicians that charge $$$ and exorbitant taxes to own property so they can keep people on Welfare and voting the crooks to stay in power.
@@BrightWendigo If we have healthcare for all then we will be in a stronger position to negotiate for higher wages. And we will feel bolder about starting small independent businesses without the spectre of financial collapse if your kid breaks his collar bone.
@@markharmon4963 you get that with higher wages too, and I’d rather get higher wages before adding more taxes into my wages
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
I've come to realize both bear and bull market provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
Well the US-stock market has been on it’s longest bull-run in history, so the mass hysteria and panic is understandable seeing as we’re not used to such troubled market, but there are opportunities lurking around if you know where to look while everybody’s been screaming falling sky, I’ve netted over $850k in the past 10months.
The adviser I use is actually quite known, you might have heard of her, Ingrid Cecilia Raad, she's been featured on several platforms including CNBC and Bloomberg, you can search her name.
I lost $7,000 investing with Ingrid Cecilia Raad. It was my entire life savings 😢
There are too many useless laws and regulations. They are invisible taxes.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Biden is worst thing that happened to us
TRUMP 2024
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Julia Hope Marble , and she's really good.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
I learned from past mistakes not to rely on rumors and hearsay for market judgments. In 2020, I held worthless positions until I revamped my portfolio with the help of an advisor. Since then, I've scaled up $450k in 2 years, regardless of market conditions. It's all about where you're looking.
@@hasede-lg9hj Could you kindly elaborate on the advisor's background and qualifications?
The advisor that guides me is Vivian Carol Gioia, most likely the internet is where to find her basic info, just search her name. She's established.
Thank you so much for this tip! Finding your coach was a breeze and I was really impressed with all the research I did on her credentials before scheduling a call. It's clear from her résumé that she's extremely knowledgeable and skilled, and I'm so excited to have the chance to talk to her!
I think saying things like "middle class lifestyle" is the problem. There is no "middle class lifestyle". There is a statistical middle class and what they can afford today is different than what they could afford back in the 50's and 60's. Being an average earner doesn't buy as much. That lifestyle that the 50's middle class enjoyed is now only enjoyed by upper middle or low-tier upper income earners.
Is it? How big were the houses in the '50s? Did they have 2 cars in the driveway? What about mobile phone bills for hundreds of dollars? Did they travel often and far?
People had a different life back then and it is difficult to make a real comparison. I do think that middle class today, even with all the struggle, still has a more prosperous life compared to 70 years ago.
@@Hans-gb4mv well even if they do today, statistically their Millennial and Gen Z children will be poorer than their parents.
Also, the phone thing is such a stupid thing to include, as if people who have jobs and lives today can function without a cellphone. Plus people buy phones on credit or payment plans all the time.
This isn’t true. Look at the average middle class home in the 50’s. Most middle class people would be repulsed to be seen living in them.
@@Hans-gb4mv if you think the reason why people can't afford big houses is because of cell phones and travel, I suggest you look at the cost of housing relative to the wages over time. That explains it all and it has nothing to do with the small perks of participating in modern life.
@@SU1C1D3xPR4D4 this is completely false because those houses still exist and are still occupied. The issue lies with developers who in order to maximize profit, decided to build bigger houses.
I lost my job for a couple months and my entire world flipped upside down. I still have not recovered to a level I feel safe at. Right now I’m one paycheck from financial failure. All because I lost a job (due to a illness) and took months to get another job.
Thank the Democrats
@@izzybizzy9589 I’ve been an adult under 4 administrations. Neither have made a difference in anything.
You didn't save up an emergency fund, that's your fault. It doesn't take that long to get a job. You're applying for jobs in preference, that's your fault.
@@kylehuffman4096 you lack wisdom and you know not what you speak of
@@kylehuffman4096you’re dumb. Corporations are hogging all the money. Wages are stagnant and have been for decades. I’m right leaning and I see this
The Savings Rate just collapsed down to 2.2%, the lowest level ever. Means Americans are running out of money. Last time it was this low was 2006-07. Right before GFC. Major Recession Warning. Expect a big decline in consumer spending in 2023. In five years, I would be retiring or working less hours, so I'm just curious about how people divide their income-specifically, how much goes to investments, savings, and consumption. I make about $165K a year, yet there is now nothing to show for it.
I can't tell from your post if you have a 401(k), but with $165K in income annually and nothing to show for it, it sounds more like you need to review your monthly budget because you are living beyond your means. Seek financial advice, reduce your monthly expenses, and any money you save should be invested wisely.
@@IAMBETTERTHANYYOU I'm self-employed, therefore I sponsor my 401k companies, and I'm open to multiple income streams. If you've worked with an advisor before, how was your experience with them? Is it as profitable as you make it out to be?
In other words, an advisor-managed portfolio would average 8% annualized growth over a 25-year period, compared to 5% from a self-managed portfolio.
@@Americanpatriot723 Yes, a Fidelity financial advisor named "LISA ELLEN SHAW" put an end to my fears about investing, and after making more investments, I was able to reach the seven-figure mark in less than 3 years. A licensing advisor satisfies the necessary security criteria; hence, reimbursement is guaranteed if I'm dissatisfied with the service, so I'm much better off hiring one.
@@IAMBETTERTHANYYOU Thanks for this advice. Finding your financial advisor was easy after looking her up. I found her website afterwards, left a message and hopefully she will reply soon.
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from TH-camrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
The apartments I stayed at when I was 18 was 650 for the 2 bedroom, that same apartment complex wants almost 2k for 2 bedrooms. That was only about 15 years ago, the houses I pictured myself living in by now that were 200 to 250k are now half a million to 700k.
Dollar taking a nose dive.
Housing is why most are struggling as you can get around inflation by buying store brands or eating out less.
Thats crazy 💀 im 24 , and my bedroom that I rent, costs more than a 2 bedroom apartment at my age.
Jesus Christ!!!!! That's a huge jump. What did they add to your area to increase the value of properties that much?
@Desmond Joyner Austin, TX. But one of my uncles sold an empty lot next to his house for 200k.
I a word: housing. Housing takes more of the budget than any item for most families. We have allowed housing to be financialized and let the media ignore the problem.
Ain’t it crazy how the necessities you need is the most expensive….
In San Diego it is absolutely insane. My sister tried to move here with a short list of reasonable requirements for a home with a budget of over $1 million. Couldn't find anything and gave up.
Lol, what the heck is "financialized" supposed to mean?
@@thedopplereffect00 It means housing is used not as housing, but as an investment vehicle - a place to park your money and get a good return on it. Like Real Estate Investment Trusts buy up single-owner apartment buildings and jack up the rents - so the investors who bought into the building can get a fat return on their investment. The same thing is happening to single family homes and even mobile home parks - instead of producing goods or services, now the deal is to sequester housing and rip people off for access to it.
@@jasondrummond9451 Heard california had a huge tax for non residents to combat that, does that help i wonder
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@HelenaBonham-pz4ly
@@margaritasbunny
Don’t waste your money on balenciaga or concert tickets or OnlyFans
It is a wonderful comment, but meanwhile are you aware of her Wall Street is part of your problem and that wonderful word expectations. The expectations are that you get poorer and they get richer that’s the expectation and will buy a couple of governors to make sure this happens.
Every time I'm getting ahead something happens that sets me back. One step forward, two steps back.
Omg thank you I thought this was only me
@lesleadarkstar I got raises at work and then not long after taxes go up and inflation negates whatever advancement I make. Rent is sky high, and it's always one thing after another, so I don't really get ahead. At work they are cutting hours, so I'm going to look for another job.
it's opposites attract 🎶🎶🎶🎶🎶🎶🎶
I made it to middle class at the beginning of 2020. Inflation put me back in poverty. Basic expenses are very hard to afford nowadays.
You: gets to middle class
Inflation: "Im about to end this man's whole career."
Im sorry for your situation. Its sickening.
Same here. I saw a glimmer of hope in 2020.. now I'm nearly to tears week after week
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@HACKERWEALTH
I’m in the same boat. I finally got my career, and it feels like aim back making minimum wage
American problem is they lost industrial base, and they have nothing to trade except weapons and overprinted money. I'm glad i had liquidated most of my major assets on the financial market at premium price before i call bad investment!
A recession will occur whenever there is a disturbance in the supply chain or if consumers start to cut back on their spending.
Do you think selling is a wise decision? I wonder if selling is the right move despite the recession and impending recession, as I am a huge pro-economy person. But it is also dependent on your risk limit.
@@mvanwie Interesting. Nonetheless, I stand corrected. Did CBCC recently highlight Yvonne Annette Lively? She discussed how the economy is fuelled by debt and credit. Despite the fact that she is quite expensive, it is better to be cautious than sorry, right?
Reason why China also rose up because that's where our jobs have gone. Combating communism while funding them. 😂 Americans are funny.
No, you're just feeling what it means to always need GROWTH GROWTH GROWTH OR ELSE when you have finite resources. Capitalism has failed a long time ago, Reagan just accelerated it. We dutch did this with tulips, now do it on a grander scheme with a more macro vision and wait, it won't happen in a decade, but the signs are becoming more and more apparent.
My parents bought a house in their 30s. They are just regular ass people. Mechanic and a day care worker. Now you basically have to be a PHD couple or C level management to get something. The bar has risen very high.
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2024 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
Mind if I ask you to recommend this particular manager?
Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.
It's good you make your own research. and make sure whoever you work with is licensed n verifiable with a repute, this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.
Well, i'm a member of the working poor. And i know i am not alone. I cannot afford a vehicle, and all the cost associated with it. I buy only ingredients at the supermarket. No, pre-made food. No restaurants or takeaway. No vacation in MANY years. And i bring a packed lunch to work. I'm just surviving. But, i see people living homeless. So i feel blessed. Lastly, that lady at the end with the Master’s degree. Proves a point i've always have said. Formal education, does not always equal intelligence.
Sounds like you're doing what you need to do. Keep your eyes on Craigslist and you'll get a free used bike sooner or later. Do you own a home?
I live in italy, I am a workers safety doctor. I worked 10 years (part-time) in northern industrial areas. I always lived like a working poor, because my education is "spartan". 400euros mono apartment, no vacations because my hometown was in south of italy so I was satisfied with the place and the sea. I dont feel the need of vacations, I tried it sometimes (south-east asia) but I think its a waste of money. It's normal here to buy ingredients to eat, it sounds strange and unhealty "pre-made food". I bought a good car (mercedes E) in 2011, just for the job and highways or weekends and I still have it. Its very healty with 150k miles. I DO THE routine stuff on it, in my garage, since 6 years now. I use everyday an old, cheaper and smaller 2003 car for daily stuff with 250k miles. I PREFER to use it, I feel better (spartan). After pandemic I almost retired from my job at 45 y.o. because now I have more than 400k in bank and I dont know what to do with them, I dont need to spend money to feel better. So, now, I work only on business trips, when I want (almost a week/month), just to make something different, a hobby. So I can choose only the best payed jobs, reducing working costs. Still, I put apart 2k every month, from 3-3.5k net. Money calls money, life is like a poker cards game: if you play poker with few money, you always lose even if you have the best cards. The first commandment is: NO DEBTS. Second commandment: you dont need to spend money to be happy. Happiness is the money you put apart, because you buy your freedom and, soon, money calls money. Even now, I live in mono apartment, in my hometown. I dont pay rent because my parents own it. I have a 4 times bigger apartment for free but I dont want to move, I just feel confortable here. Thats the way I am used. ps: this year I didnt renew Amazon Prime because I dont use it and it costs 50 euros now. 50 euros are insignificant for me, but I dont need amazon prime! Why should i need it? Morale: we are not poorer, we are just unsatisfied with life and affected by consumerism.
@@giorgiogiorgi932 What you're doing is called the FIRE ( financial independence retire early) movement in the USA. I agree, the best thing you can buy with your € is your freedom. I think a lot of people find out that when their investments have grown and they have to work fewer hours, they have less stress to "get away" from on vacation.
It's not just in the US. Even as a child I understood the value of investing and passive income.
If you are financially independent, you truly have the freedom to reach your potential. The reason we are so much better off and richer than humanity ever has been was because of the Industrial Revolution viz that we automated most of our work and so have more free time to actually do what we want.
AI is supposed to replace human beings and I always thought of it being a future like WALL-E where it takes care of basic human existence and we have the freedom to do whatever we want. There are many magnates, including Elon Musk, who think the same way.
But instead of AI being used for charitable and philanthropic purposes, it looks like it is simply being used to fire and get rid off as many employees as possible to reduce operating costs. The few who remain have to be EVEN more knowledgeable and capable in order to keep their jobs.
@@3namechangezalowdevry90day7
@@Leanzazzy AI is taking the creative, intellectual work and then we'll compete with IAs (Illegal Aliens) for the dirty jobs!
I always thought middle class is someone who can responsibly afford payments on a less than 5 year old mid-tier vehicle, own a home, has decent health insurance, & a retirement fund. This is coming from someone who has none of that.
Payments on a car…that is your first messed up thing you typed. Buy used and use cash. If you can’t pay cash…don’t go over 5k for that car. I know a lot of middle class types that always buy used so they don’t have payments.
@@pistachiosandpopcorn7146 I can agree with that. I personally drive a 99 Honda and am having the engine replaced this very week. I running that thing until the wheel fall off. I've had car payments & hated every moment of it.
In my opinion, the definition of being middle class needs to be changed. It should be based on spending power, and not just income. Being middle class should depend on whether a family could afford to pay all their bills(mortgage/rent, electric, gas, etc..)every month, and still have money to save for an emergency, fund a retirement account(s), and still be able to go out spend on things like dinners and shopping.
Being able to afford it vs actually covering those expenses are two different things. I'd be considered middle class but I only make about $65K.
@@mscott1997 ,
$65,000 a year is good income depending on where you live and what you do to spend your money on
I'm no longer middle class because my only income is social security but because my mortgage is paid for I have a small car payment no other debt I live better than when I had a house payment and a bigger car payment and was working . I'm still able to put a set amount of money into savings every month. I dine out more times a week now that I'm not working because I have more time. I still shop the same way I did when working buying markdown meat and other markdown items shopping for clothing and household items at thrift stores and garage sales the only big difference is I'm not putting money into a 401k or Roth IRA just a savings account. I guess it depends on where you live and your lifestyle
I think the definition has been wrong for a while. You rarely hear of anyone being called 'working class' in America, but it is a common phrase in the rest of the English speaking world. If you work in factory, mine, shipyard, mall, office you are probably working class. I would go as far is saying if you earn a salary or hourly wage you a working class (I know there are obvious exceptions to this rule, but in generalities it is true). The middle class is term that should be reserved to upper level professions, doctors/lawyers etc. and owners of businesses, with 10 or more employees. I think because the working class in the US was doing so much better than the working class in the rest of the world for a couple of decades it has skewed the term. I don't believe it really matters if you have 2 cars and a picket fence, if you clock in at work, you are working class. @blongshankss77, your definition could still be working class.
There is NO set definition. It is a term used as a rhetorical trick.
Overall, 60% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025.
Nobody knows anything; You need to create your process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@JacobReynolds-t7v A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember a couple of summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@@KacieLehman How can one find a verifiable financial planner? I would not mind looking up the professional who helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@JoeWilmoth-k2w Victoria Carmen Santaella is the licensed fiduciary I use. Just research the name. You’ll find the necessary details to work with a correspondence to set up an appointment.
@@KacieLehman Thank you for this tip. it was easy to find your coach. She seems proficient considering her résumé.
The cost of groceries is absolutely insane
Spent $50 on 8 items yesterday
It depends on what you get, rice beans frozen veggies and some fruit are not more. Buy meat on sale (close to sell by date) or frozen vs fresh, pork cheaper than beef, get creative as our grandparents would. Don’t buy it if too overpriced.
It is😊
@@lancasterpennhere’s the thing, a hard working citizen shouldn’t have to feel guilty and their wallet being bled dry for wanting to eat their favorite meal once in awhile
@@arekgalang5555
Hard work means NOTHING. Good money management is the answer
I grew up on welfare. Joined the Marine Corps, had decent take home pay, decide to go to college bc you know you get paid more! I graduate with an engineering degree and end up having less take home pay than I had as a Marine. There are very deep issues which will take a lot of effort and time to make it so that a grown man doesn't get paid like a kid who lives with his parents.
I was reading this hopeful (using the GI bill rn) but then got to the end and got sad lol
@@Steinwagner15 There are plenty of opportunities! Apologize for the discouragement. I took a job I shouldn't have. Wait for the opportunity you want, even if it's a small setback. I'm making the move into Software now using VET TEC. If you put in the work, being a veteran will only help.
I got out of he Army after four years to go to college. After college, I worked for 15 years before deciding to join the Army Reserves at age 41. Did 5 deployments, paid off the house then retired at age 60. Pension is not a whole lot but it pays all the bills and leaves some over. Best decision I ever made.
@@gbb82 Damn. I need to get on your level. Happy that you made it up to this point. God bless
@Unknown Comment Hasn't happened to me yet! Let me know when you meet that Marine
The lady with 100k household was quite amusing because her breakdown showed they just lived outside their means.
Not to mention she talked about how getting married made HER get taxed more, completely ignoring the fact that her husband taxes were lowered because they are married and as a WHOLE they pay less taxes because they are married.
Then the LIFE insurance, $800 car payments (screams either a a short 3 year loan, buying cars way outside their means, or bad credit), $280 for phone (screams either paying off phones that aren't necessary or having a phone plan that is expensive and likely not necessary), $400 for car insurance is extreme if they get multi car/other discounts.
Not to mention, she mentioned her check was $3000 (weekly/biweekly?) but made no mention of her husband's salary which would have further shown that they just have poor money management.
this family is putting money into retirement and education funds, and buying insurance policies, and then acting like those are expenses rather than assets. they're just whiners who don't understand their own finances.
The only thing she made a mistake is car payments and insurance, that is too expensive
Why has she taken out life insurance on her child? When I worked in the insurance industry, one of our vice presidents said the company made a big profit off life insurance for children.
@@gbb82 Perhaps they have medical issues that mean life insurance is a necessity. Its also known that credit terms can be higher depending where you live, your job, your long term income, your contract of employment. The assumption is that she was paying it all. Her husband could be studying. She did not that what was going into the college fund was small (knowing the cost of even basic college and student loans). Middle class earners in the 50-70's also had retirement plans, college education saving and some had life insurance. Yet they had money at the end. Most often had 2 cars. Most owned their own home unlike the example.
@@stephendoherty8291 Okay thanks for explaining.
In these unpredictable times, it's crucial to manage money wisely and invest prudently. My $240k reserve has been idle with little profitis not increasing more than 5%, inflation is eroding my savings. I need a solution to protect and grow my funds.
stock market crying with little down tick while we have been dealing with double digit real inflation for a year. consult with an advisor so you don't get burnt in the market.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had major portfolio yields of over 88%, so I'm not going back to relying solely on banks.
talking about coaching, do u consider anyone worthy for recommendations? thanks.
Monica Shawn Marti is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Honestly I was in this position for a decade. So I took control. I changed jobs every 6 months and went to the highest bidder for 2 and a half years. I upped my salary by 40% in that time. I made them pay me for my experience and skill level.
I work in HR and can testify that is the best way to get a higher pay..loyalty to a company just isn’t of any value anymore…a company will lay you off in a second if they need to for their financial reasons ….an employee is just a a number to them…people should move to a new job every year, unless they are being paid extremely above market
@@scarletlady3727 That's great advice Thank you
I do the same thing. My field has gotten start though and terms of employment are commitment agreements so that sucks. But for me, life still happened and my debt didn’t change.
@@JazzyJae88 I'm sorry to hear that things have been so difficult. I know in the State of Florida it is an at will state, so that an employee can leave employment at anytime for any reason, and the employer can terminate employment likewise. I don't know what field you're in, but maybe you can negotiate those terms before your next contract. Most businesses are struggling to find enough employees right now, so they will probably be willing to negotiate in order to keep you there. Praying that you will be paid more fairly in the future 🙏
easy to say when you don't have mental health issues or other health issues... must be nice to be neurotypical and healthy
When I moved to the US the spending culture really shocked me. Little things like eating out instead of cooking, buy a coffee and seasonal decor. I don't say that is all, I know student loans, rent and more, makes it hard. I feel for the people who cannot pay health and housing.
The ‘seasonal decor’ gets me too and I’m American. The people that do a different Christmas theme every year and spend so much money buying all new decorations. Why?
@@pholliez I promise you moronic foreigners from across the pond that people finding the smallest amount of happiness by putting lights on their houses and candy canes in the lawn is NOT what is causing poverty and suffering for the lower and middle classes. It's not.
Same the decor is the decor das it. This year I splurged and bought a small plastic Christmas tree and dollar store decorations. I’m gonna use that every year till it turns to dust
But they aren't comparing Americans with other nations, Americans have been able to do those things for decades but bad policies and regulations have driven up the cost of everything. If you make something and the government puts roadblocks up it makes that thing cost more.
Our consumerism is off the charts. I have a friend who makes a modest income but leases a $50k + car every 3 years and they've redone their living room furniture twice that I know of just for a "refresh". They can certainly afford to do this kind of stuff but should they, especially when it comes to detriment of other things? Not long ago this same friend was stressing about having to chip in for her parents retirement home soon and complaining about utilities bills increasing so much in the winter.
I guess I'm boring, I prefer to maintain my reliable car, keep my perfectly good furniture, and sleep really well at night. Helped my dad retire at 61 since I had a big chunk of savings, he was in position to do so but stressing about medical I pretty much wrote him one big check and said this covers all of your medical until you are of age, no excuse now to not retire and chill.
There is no middle class, its the working class and the managerial class.
Working class and owning class. The owning class collects rent checks and dividends from the working class.
Princes and peasants.
And that's a good thing.
Doesn’t this just come down to not buying things you can’t afford? Don’t waste money on things you don’t need.
ha! managers are struggling too! the actual wealth is much further up the ladder. you're mad at the wrong set of people
I'm 38. I've been working 50+ hours a week since I was 20. I'm burned tf out and my mental and physical health are paying the price for it. I always find myself making yesterday's great money and today's just enough to cover a mild inconvenience. I live frugal. I save when I can. My 401k contributions are paused because I need the money now. I don't expect to retire, buy a home, buy a new car, or any of that. Given the state of dating now, I don't expect a family. I expect to go to work and fall over dead one day. That's what I see as a very real possibility.
Yet you're agreeing to do it
Someday you will do great. I pray you live a full life with fullness of everything. 😊
There should absolutely be no way that foreigners are allowed to purchase American land & homes, and there should also be a limit on how many homes people can own to leave some for others.
I was definitely in the middle class while working in high tech industrial training, but then I experienced an accident caused by poor contruction of my garage (a national company) that caused traumatic brain injury and could never go back to my job. No one explained that I could have gotten Disability, so I had to use my IRA for 13 yrs to survive before I could get Social Security. So now, Social Security is my income, and since I couldn't work those 13 years, my SS payment is much lower than it would have been. I had to move from the city and live out in the middle of nowhere, the nearest Walmart is 45 minutes away. Thank goodness for Food Banks for Seniors and knowing how to home can food. I just hope that my car outlives me.
I'm so sorry to hear that Monica. That sounds like an awfully tough situation to go through especially to no fault of your own. I wish you the best in your retirement.
@@DOJODAR thank you! At least I no longer have to fight Houston traffic! Our local joke in our very rural area is when we get 1 car at each of the sides of the traffic light, it's a traffic jam! Luckily my parents grew up during the Depression so I heard their stories and learned how to adapt.
So sorry that happend to you, i know it sucks but in some countries nothing would be there for you to live....like at all.
@@JoeySav I understand and agree with you. Some countries see older or disabled people as throw aways. Luckily I ignored my boss and others who tried to convince me while I was working to do other things with my money. Being my stubborn self, I ignored them and had that money when I needed it.
ss will be gone repuke are getting rid of it im in the same boat
I was fortunate enough to buy a home in 2009 when the housing market crashed. My mortgage is $950 on a house that is now worth $800K. My housing expense is set for the next 15 years. I held off on buying in early 2000 when houses prices exploded. Even though banks approved me for a large loan I just did not want to be house poor. Now houses are back to ridiculously high prices and now it almost unreachable for middle class folks to buy a home.
I bought my house in 2006 and went under water after 2008. I was being told that if I didn’t buy then that I would be priced out of the market. You were smart to wait. I ended up paying my house off so it worked out for the best, but it would have been much better if I waited a few years
@@Navy35 There is nothing like having a mortgage free property! Congratulations! I am getting there. It's going to free up a lot of financial freedom once my home is paid off. It would definitely decrease my anxiety of losing my job or being stuck in a job I hate but forced to stay to pay my bills.
I remember the obama-money we got for taking a mortgage during the crash. I seem to recall it was $7500. Much appreciated!
@Ronald Reagan I know that. Pathetic? On who’s part? That money came to us and then probably circulated into the economy with six times its original impact. I don’t normally get windfalls, myself. It was certainly a nice surprise!
@Ronald Reagan This happened in 2009. Also, Government Debt is not equivalent to individual debt. It is a false comparison.
How can you be middle class if you can't buy a house, have children due to cost, save money, or pay your mortgage or rent on time? Sounds just like poor people to me.
By making a middle class income
@@jsebby2284 If you can’t do all of those, then most people are not making middle class income.
@chrischoy9 that doesn't prove my comment wrong though.
Plus most people can do all of those. And most people make a middle class income or above.
Also, if you can't do all that it doesn't mean you aren't making a middle class income
You do have a choice. Be a victim or do something about it. Trying to change or hope the macro situation will change is futile. Budget is number one. I doubt half these people have a budget. If you ask someone what their mortgage is and they don’t know down to the penny, I doubt they budget. And if you choose to take on 100,000 of student debt why should it be forgiven and payed for with my tax money? If I don’t pay for my house they take it back. Maybe if you can’t pay for your degree, they should take it back.
We feel poor because the salary for my position didn't increase for 12 years. Medical bills, child care, health insurance, and everything else sky rocketed.
Go strike on your company or take it up to the ceo
Why would you stay at that company all those years and hurt yourself?
Did they compensate you with bonuses or stock options instead or salary?
If not they're saying you're worth less than when they hired you.
You have to job hop nowadays. If I don't get at least a 6% raise every year I start submitting resumes.
@@sniperhare it’s not a company. a University. Except big schools, most university professors and other staff paid peanuts.
Exactly 😂
$280 on phone plan is crazy high. Especially if you are already paying for internet. There are plenty of low data prepaid plans that are around $15-$40 a month per phone.
I pay $20 every 3 months.
Agreed. But i would argue that she is buying a new iphone every year or two so that increase you overall phone bill. Like how she has a car payment of $400/month while i have $0 car payment. Budget is just a term that means “i manage my money”, however it does not mean i live frugally bc i have a budget. I can live extravagantly on a budget too.
In India i pay 3 doller per month
I only pay $25 a month with Verizon!
For a family of 3 with AT&T is about right. I wish the lower costing plans had coverage in my area.
I feel like when people talk about middle class they only talk about families. No one every talks about middle class single people with no kids.
I know. Not my fault I knew not to have kids I couldn't afford.
There's huge discrimination against single childless adults. You get treated poorly at work. Treated with contempt by coworkers.
@@rpmartin8650💯💯
That’s because we don’t matter to them, we shouldn’t have any problems since we only have ourselves is what they think. We don’t get nearly as many incentives as married people or those with kids.
@@rpmartin8650 Exactly!
People will be like "bro just get rid of the internet, and all your clothes, and never buy anything besides water and beans and youll be happy"
Exactly!! Yes the amount she is making is good but she has a family, which occurs additional costs
Uniquely american problems like:
-Car Dependency
-Medical Bills
-Few Workers rights
-Hustle / Gig Culture
Just to name a few
Nothing unique about these problems except for the first one. It just sucks, because we're supposed to be the country of freedom but once you peel back the curtains you see it's all a lie.
gig culture is not uniquely american, europe and asia are adopting it too but some countries are already in the process of banning it
And gun violence.
Workers has more rights than employers, they can conspire against employers, employers can't. I'm for equal rights.
@@XOPOIIIO 😂😂😂😂😂 everything you just said was blatantly false.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
Infarct, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
@@marcelrobert9569 Please let me know the name and phone number of the consultant who helps you with your investment.
How to profit in volition markets? Put options or swing trade.
one word gold
Liquidate and dump it into Inflation bonds from the government. You will make 12-15% over next 2 years most likely
Went into the military in 2007-2011 to pay for college. Got a supply chain degree. I've been progressively making slightly more money (going from about 26k in military to 34k right after college to 42k in my late 20's and now I'm around 55k. None of it has mattered. If I wasn't bunked up with other people this 1 bedroom apartment would cost 50% of my monthly income. Food would eat up the other 50%. I have to live stacked on top of other people in order to set anything aside for the future. And having kids? Forget it.
Things are hopeless for ME and I made some pretty lucky/wise decisions. I can only imagine how hard it is for people who have made some bigger mistakes.
Leave NY/LA or wherever you are and use your VA home loan if you got an honorable discharge. Plus whst did you do with that BAH from the GI Bill? You're mismanaging your VA benefits.
Living in a high cost-of-living city while making a modest wage is not a wise decision. If you make at least six figures then that justifies living in San Francisco or other expensive places. Otherwise, you're just asking to be a hobo.
@@themostsecretscience6409 I have attempted to use my VA home loans multiple times, but each time I've been outbid by cash offers from retirement investment firms. And since it has been a sellers market for the past 5 years or so, no sellers want to mess with the VA loans because they often require the seller to make repairs to the home before any money changes hands. Basically, the VA does a lot to protect the veteran buyer and sellers don't want to deal with that hassle.
As for the BAH...I used it while I was going to college? I only got like $1200 per month at the time. "Allowance for housing" doesn't mean they give you a house. It means they give you a stipend to live off.
@@cryora I do not live in a "high cost of living" city like LA or NY or any coastal places. I'm living in the Midwest. Home prices are inflated EVERYWHERE, it's not limited to coastal cities. Yes, housing prices are lower where I am than in those places, but they're still too high to afford AND save money for the future AND raise children.
Trust me u have made the right choice and,things will be better for u …just don’t give up ….I’m going to be 31 & I’m facing hard time …I came here almost 10 years ago with broken English & I lucked English,direction,confidence…things didn’t go the way I wanted too…worse my health nosedive ..I had surgery ..it’s really tough man …after 10 years I got nothing to show for it ….I’m actually embarrassed to visit my country or to talk to my parents…immigrants used to thrive in America and,nowadays even Americans r struggling…the future of this country is scarring me …honesty i don’t see any positive things.
A quick point about that crazy high phone bill...if you can live with a capped data plan, you can get it down to around $15/mo per line. That's what I'm paying for unlimited talk/text with a 3G data cap. If you can live with a 1G data cap, it gets even cheaper. Most places don't advertise those plans, so you have to go into a store and ask for it. I'm using T-Mobile right now, but I hear Mint mobile is good too.
We don’t feel poor, we are poor. I wouldn’t even consider myself middle class. But I do own my home, I knew I wanted to be a home owner young so I had somewhere stable and I wasn’t paying nobody else’s mortgage. So I worked hard at 19 and built my credit for 5 months to get it. Now, I do get behind on my mortgage. I was in forbearance for over a year. But if I were renting, I’d be homeless. Thankfully I can be late on my mortgage and there’s options.
As far as car payments go, y’all, sell them expensive a** cars. With insurance and car payment, I was paying $500+ for a 2017 honda. I said f that, sold it, and insured two old cars that my dad helped me get for under $1000 each (very very fortunate to have him). The insurance yearly for two cars is less than it would be for me to keep that Honda for just 3 months!! Go on Facebook marketplace and find a beater Honda Accord for $2500 and figure out how to do the regular maintenance on your own from TH-cam.
Do what you can to bring your debt down. I know these things won’t work for everybody, and again I do struggle and live paycheck to paycheck and I’m still behind but at the end of the day make sure you’re living within your means.
I completely agree most Americans are living paycheck to paycheck. And most people have more than one job.
Yes you would think this would be common sense, but it isn't. I purchased a 2012 used Honda Accord for $2900 a couple years ago.
@@erickn7985 got 2016 Honda accord 60k miles in 8k dollars
Person got divorced and don't want to give biaatch a penny sold me car in cash
Made my day
Owns a house and thinks they're poor lmao. There's a difference between feeling poor because you're struggling and actually being poor.
@@Zordiak you can be poor and own a house. I come from poverty. I just used the US credit system to my advantage. I try to teach my friends this all the time. You can buy a house with literally $0 down if you just educate yourself.
These are the CNBC videos I love. Economic mobility is slowing in the US. Life is harder.
Country with most millionaires 🇺🇸
Country with most billionaires 🇺🇸
Country with most small businesses and start ups 🇺🇸
Best hospitals 🇺🇸
Best universities 🇺🇸 we run the world
I’m sorry this is a dumb take of good ole American exceptionalism. Look, nothing wrong with earning a billion dollars, but when you hoard hundreds of billions and cannot find a way to use that insane wealth to help others and find more purpose in a wider lens, it’s nothing to be proud of it makes you a bad person.
Is a hospital really that good if you’re going to be in 10,000 in debt for a broken bone? Get over yourself.
@@bradIeyyy Having the most millionares and billionaires isn't a sign of prosperity. By that stupid logic having the most number of people means your the most popular country to live in. Wealth distribution, income to cost ratios are a better indicator of economic prosperity. Also fun fact, Billionaires and the ultra rich are just as much of a burden to an economy as people below the poverty line.
You love this video? It’s a parade of ignorance, stupidity and lies. I don’t know where they found a collection of imbeciles. It probably wasn’t hard and it says a lot about the plight we are in
@@bradIeyyy you must be Blundered.
There is no such thing as middle class in this country, just working class and owner class.
Agreed 100%
I have to disagree. My wife and I are upper middle class for sure. We both have built solid careers. We save 50% of our income every month and still live in a very nice house with nice vehicles and even an RV. But we make sacrifices and tough Choices all our life. The opportunity is there. My kids both bought houses before they were 25.
You should not be allowed to own property that you dont live in, unless you are made to rent it at a REDUCED cost that people can afford
@x3dominator28 so you worked a whole bunch? Ok you are working class then, thanks for proving my point. It doesn't matter that you have a bunch of stuff and assets now you WORKED to get it..
One thing about the lower middle,and upper classes is how they view debt. A lot of my family (I grew up poor) avoided credit cards at all costs, and the rich see debt as leverage to build wealth. It feels like the middle class see debt as a means to showcase something- to have something to show for your own life, where the poor and rich see money as what you need to live and grow.
Well said.
My wife and i are now in our late seventies here in new jersey. We have two daughters. One daughter attended college in rhode island for which we paid out of pocket plus we paid for her wedding later on. Our other daughter attended a very prestigious private high school in jersey followed by boston university for which we paid out of pocket followed by a wedding. I cannot imagine a middle class couple undertaking such out of pocket expenses today.
Unfortunately the children will have to take out loans for school like most of us and no private school at all... Your generation had the best this country had to offer...paying for someone else's wedding? 😂 😂😂😂 A huge privilege that's unfamiliar to most
@@So_Cato It is tradition for the bride’s parents to pay for the wedding. But girls didn’t used to go to college. So the expenses, for parents who shoulder them, have exploded. Now it seems spoiled.
I don’t consider myself poverty level, a very okay middle class, but I have a teenage son and I already know I cannot afford to pay for college. So the cycle of family debt continues because he will need student loans just like I did. And a wedding? Forget it. I’d never be able to pay for one. Hell I didn’t even get a wedding because I couldn’t afford one.
My response is : give it time it only gonna get worst
Last year, I left my toxic job that underpaid me and found a new job that paid more but now I realized that it’s still not enough. $20 an hour is the new $15. Also I’m the type who always saves money but then I ended up with hospital bills and now I’m in debt. I ended up in the hospital before my health insurance went into effect. I experienced really bad chest pains due to stress from my job. I saved over 10,000 and had to spend all of it paying off my hospital bills and I still have one I have to pay off. I also had to close my ROTH IRA account to withdraw money I needed for my hospital bills. So for everyone who says to budget, don’t overspend, and save sometimes things come up where you have to go into your savings and still end up in debt.
And that’s exactly how the systems is designed to be. If you beat it congratulations, you are the American exception.
Sorry about your luck, hope it gets better for you, I really get what you're saying.
Keep pushing for more. Treat employers as good as they give you. It's a dog eat dog world, especially at the moment.
And society wonders why middle class and lower middle class young adults are not having children. Young People are in survival mode. Pay off Student Debt, Paying Car expenses, Paying Taxes and Insurance, and inflated basic living costs. All this while living with parents.. Not conducive for a positive outlook for a future generation to be brought forth..
Same with me I went from making $13 an hour being a caregiver for 5 years to working for Amazon making $18 an hour( the most I've ever made till this day) just tried to go get myself an apartment this last week just to find out that I don't make 3 times the rent. Rent is only 900 sum. And I live in Houston. I was so excited to be making more but I guess the economy caught up with me real quick and sat me down
We don't feel poor, we ARE poor.
👏👏👏
You do realize that Americans are one of the richest people on Earth right? Most of the world earns less than $10 a day. You sound extremely entitled.
@@lavaregion6968 How do you deduce me saying we are poor as me being Entitled? Not just entitled but extremely Entitled?? Lmao wealth is relative. Being poor in America probably is better than anywhere else but it just doesn’t change the fact that you still can be relatively poor within the USA. Your basing your rationality on skewed averages of American wealth that’s mostly held by the very few majority of millionaires and billionaires of the world which are indeed American.
lol just get a job at CNBC, bro
No- that is absurd. Our "poverty" is relative- we FEEL poor compared to our wealthier neighbors but that doesn't mean we are poor by any objective measure. The median household income (not the average, which is skewed by the millionaires) is about $77,000 in the US even after adjusting for recent inflation. That is not poor. In terms of disposable income (income left after taxes and including govt payments to low-income people), we are the highest in the world. We beat the #2 country by over $10,000 and #3 by over $15,000
While I agree costs are higher than they have been, too many people live beyond their means. If you have debt you are living beyond your means. Don't buy a $40k brand new vehicle if you can't afford to pay cash for it. Don't charge up a bunch of things on a credit card that you can't afford. People think the government should and will provide for them, but the only one that really can is you. They've told us student loans will be paid for just to nix that plan. Don't wait for the government to do something, get some extra jobs and get your debt paid off quickly. Once the debt is paid off entirely you have so much extra cash that stays with you rather than spending it all on monthly debt payments. Then you can save up and pay cash for what you want and need. People are trying to do too many things at once. Don't go out to eat or take vacations during your debt payoff, that just elongates the time you take to pay it off. I'm debt free now, but have been eating a lot of sandwiches lately and it's amazing how much cheaper it is to eat that way than eating out. You really can't save or invest when you're paying off debt. People usually don't have the income to do all of that at once. Especially if you have a $700 car payment, plus other debts. Sell the car, get a cheap $5-$6k car. Get the rest of your debt paid off, build an emergency fund, then save and pay cash for a more reasonable $15-$20k used car once your debt is paid off. It's so freeing to have nothing owed to anyone. Live within your means. You may complain that you're too good to drive a $20k car, much less a $5k car, but that new car you drove off the lot was immediately worth much less than when you paid for it. Even a year in it's lost at least 1/4 of it's value if not more. That $40k car might be worth $20k in 2-4 years. Make sure you have an emergency fund of 3-6 months of expenses so that you can afford to pay for emergencies as they come up rather than pulling out the credit card when an emergency happens because that will cost you 20-30% in interest a month if you carry the balance. If you're putting emergencies on a credit card it is because you can't afford to pay it that month and will carry a balance and pay interest on it. People aren't getting anywhere because of all their high interest debt that accrues interest nearly at or maybe even above the rate that they make the minimum payments. You need to put extra money into it, not just the minimum. The only way you can do that is to up your income for a period of time. I paid off $50k in debt in 10 months. Door Dash, Uber Eats, fixed and sold computers on the side, did car detailing on the weekends. Anything extra I could make I did. I also ended up selling a car I liked that was already paid off to push me over the edge and get the debt paid off completely. I'm now debt free, with an emergency fund in place, paying cash for a 2 week vacation, and I drive a $5k vehicle for now, but am saving up for a much nicer one in a year or two.
The problem is the top 1 and .1 percent taking what they owe the workers. Over 100% and over 300% growth in income while worker wages are not at all keeping up with inflation? Disgusting.
‼️⚠️💯✅
The problem is that a lot of middle class type manufacturing jobs that supported families 30 years ago have ended up in China.All these imported products we buy are making us poorer and weaker as a nation.Both political parties starting with Clinton sold us out to China.
Workers wages were beating inflation until Biden and the Demoncats started spending crazily, on top of Trump's wild spending with the Democrat Congress before that.
@Incomeking Nope. It's government backed mortgage loans. If you dissolved the FHA, home demand and prices would crater quickly.
The majority of line workers today are not on the same level as line workers from 20 or more years ago. I could teach workers from 2 decades ago in several different ways and they would do their job at a good pace. I try to teach people in the way they learn adjusting language to their experiences. I get workers today and I make adjustments as I work with them but a large percentage of them either have little memory retention or too distracted to make major progress towards learning a position. I am not supervisor just a good fellow line worker but many come to my job need remedial education not the college education they are attempting at the same time. It’s not just a common sense issue. A large junk of them quit with no job replace the current because they can keep up in a slow retail job.
The moment I realized we are poor is the moment I asked "why am I paying $1000+ in taxes every month and I got nothing back?!" We are truly struggling and no one is helping.
1000+ in taxes? Lol. Where do you live?
Ukraine NEEDS this🤣
@@TheV8nissaneducated yourself about USA military budget before making comments like this.
Also, you would be ok watching how Russia colonize Ukrainians ?
You get nothing back? When’s the last time you had to watch out for other countries invading with tanks? Do you have roads? If there is a tornado does anyone come help? Y’all are so entitled YOU don’t see how much your government does!!!!!
@@MrBobbo18 Wow...I hope this is sarcasm. Otherwise, this was a super ignorant comment.
The stock market is a no-called-strike game. You don’t have to swing at everything - you can wait for your pitch.”
Middle class is not middle income. If you are middle income and can hardly afford rent, much less a house then you are poor, not middle class. If you can't afford a $500 surprise bill, then you are very poor, and 60% of Americans can't afford $500.
How can 58% of Americans be middle class, if 60% are very poor? Your math doesn't check out.
Because 60% aren't very poor - that's how. Because your math doesn't check out - that's how
@@jsebby2284 Not having $500 is poor.
@abram730 you can make 500K but if you spend 500K then you don't have $500. That doesn't make you poor. It makes you stupid.
That's why those statistics are useless without knowing people's spending
60% aren't very poor. That's just factually incorrect
10 years ago what I'm making now would have been considered decent money...now I have to choose between paying off debts or eating for the month.
Mind saying what that figure is? I'm sad where things are now. I'm 28 and earn $112k but it's not the same. Dad used to tell me that 100k salary was this and that, i have it and everything is so expensive, especially homes/rent. I'm grateful, but feel for those making less.
$30k in credit debt from shopping?! That's an addiction, I hope she worked it out and stays safe
First, people. QUIT buying cars that are so expensive! Buy a 2 or 3 year old vehicle, have a mechanic check it out. When it is paid off, use the payment money to start saving for the next car & pay with cash. That lady’s $280 a month for cell phones is ridiculous. She can do much better - & she needs to look at the fool in the White House to recognize how much WORSE the middle class is vs. the prior administration. All can be connected to BIDEN’s shut down of Keystone pipeline which would have been finished a long time ago. Fuel costs are ruining everything & the blame goes to climate alarmists.
@@dunkmastercloud4818 Or a surprise rent increase with no other option but to put it on a credit card temporarily. My neighbor's rent increased 53% in September because the market supports it. It's looming.
time stamp?
30.000 over a a few years for groceries is not an addiction, that's cost of living.
but in truth, I wouldn't know what we're talking about, since this docu is almost an hour long.
@@brmbkl It's at 48:01 ... she said she was sad and spent 30k.
Yeah I think the point was that unrelenting financial stress makes us more prone to leaning into our bad habits, vices, and coping mechanisms. It's a mix of personal responsibility and inherent flaws in the financial system.
I've been a single mom for 22 years. No government help. We live beneath our means, and because of this, we have not had financial issues during this economy. Middle class people are now realizing how they have been blowing their money on unnecessary things. Not having an emergency fund is an emergency. 6 months is best.
The working poor have been dealing with these things for decades. They were told to pull themselves up by the bootstraps. Now that it has hit the middle class it is a problem.
Yep
Never try to argue with a Libertarian
Facts!
Same with the drug problem
Now the middle class is destroyed. They didn't want to help the poor. And now there's nothing to help them now that they're poor, too.
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
This is exactly what happened before the Great Depression. Penny stocks in a Bear market bit the mass majority in the ass when it was time to pay on the losses
We need the UBI tied to the GDP get a petition. A dividend.
lol youre not making that type of money unless youre already wealthy.
Everybody can become rich 😂😂😂😂 goofy these are what people are going through this isn't a Rocky movie
5,500 a month for rent is insane. That’s more than the mortgage payment on a million dollar house that you’re paying on a town home you don’t own!
not everyone can get the loan from bank,also another problem, if you cant continue pay your loan to the bank, the house is not yours any more
I live outside Columbus OH about 45 minutes. My mom lives in Worthington in Columbus. Her property taxes are $1400 month. More than double my rent out here.
@@jessed1586 If your mother pays 1400 a MONTH in prop taxes, she is living in a million dollar + home.
What? The math isn’t mathing. $5500 is not more than a mortgage payment on a million dollar house. It’s more like +$10,000 a month depending on the type of loan you get.
@@wowstarentertainment6123 as long as you are paying property tax, the house is never yours
Social worker is not a good field to be in if you want money, it’s more to help people. Masters degree and 240k in debt is crazy for being a social worker. People need to learn that just having a degree is not enough. What that degree is in and how you can make use of it after you graduate needs to be thought about before starting the degree. Universities are in the business of making money, they will show all sorts of statistics and sweet talk young adults into degrees that may not be worth it for the students. Masters degree in engineering is worth way more for higher pay and upward career mobility than history.
I moved to St Thomas in 2013 to be a bar tender after getting my bachelor in engineering and working at a $85k job. I was scared at 1st the I suffered a mental breakdown. I couldn't take it so I left America.
THE BEST DECISION OF MY LIFE!
I no longer have anxiety nor depression. I have real friends whom I call family, we play soccer every weekend plus Tuesday evenings, video games every Thursday and Friday nights, plus party Saturday nights at nightclubs where folks dont flex. I'm really Happy. I wish I've done this earlier. 😊
Sounds great😁 Congratulations.
And you live on a tropical island paradise. Meanwhile its freezing cold and snowing here in NJ
Good for you!
@@ClearGalaxieshe said ST Thomas
I went to St. Thomas when I was about 10. Always thought my ideal dream job would be to take people out charter snorkeling. We did that there. Seemed like the coolest chillest job ever!
Middle class is a myth, working class and owner class
You can call it whatever you want... A home, retirement savings, health insurance, and food. If they can't afford all of these things and still have kids then it's not comparable to the middle class of other generations. Calling it a middle class "squeeze" or "pressure" is just a way to get around this reality.
5-6 years ago my daughter was paying $1800 rent for her house. She had a good divorce settlement so I told her to withdraw from her pension plan to buy a home. Best move she has ever made.
At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.
Your money is stagnant when you save, I will advise you buy stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance of a broker or financial advisor.
@@elliot985 you're right! If you are unfamiliar with the market, I recommend seeking advice or assistance from a financial/investment coach.With the help of an investment advisor, I have diversified my $450,000 portfolio across multiple markets, We were able to generate over $1.2 million in net income from seasonally high-dividend stocks, ETFs and bonds. For me, this is the most ideal way to enter the market these days.
@@robertosaviano215 Please can you leave the info of your investment advisor here? I’m in dire need for one.
@@Zanrowe795 Sure, the investment-advisor that guides me is Laura Marie Ray, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
@@robertosaviano215 I just looked up Laura online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals
Don't get me wrong, I know the economy is in shambles and in order to break even and make profit, we have to ride it out until stock recovery, but how are some folks in the same stock market as me still able to pull off substantial profits of as much as 650K within months, what am I doing wrong?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset
@@edelineguillet2121 Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k.
@@fresnaygermain8180 please who is the F/A guiding you
Here we go again. PSA - THIS THREAD IS A SCAM. REPEAT, THESE PEOPLE ARE BOTS AND THIS THREAD IS A SCAM.
It's on every single one of these videos.
You still think the current system is fair, you play buy the bourgeois rules.
The quickest way to be middle class is to not have kids and to ignore advertising .
Or having well-off parents.
No not to buy new cars
@@jajajaja2624 you don’t need to buy a new car every 3 or 4 years, but I buy a new Honda every 10-12 years, great investment.
I did that.
Without children as a legacy what is all of this for?? All the money at 80 by yourself is a lonely lonely place to be
My hometown of Dallas USED to be affordable in the 2010's. The influx of people flocking here increased demand, therefore rent prices have tripled and most of us locals are no longer able to afford it.
I switched to Progressive Auto Insurance as a 25 yr old male and my bill went from $317 to $97 a month. And a $280 phone bill is crazy! Switch to Mint Mobile. There are things you can do to lower your overhead costs.
I pay $60/mo simple mobile.. simple!!
Yeah, i do both of those things. Geico and State farm were going to charge $250 -$350 for my new to me car from 2018. Progressive charges about $210 (raises rates on me by about 10% for no reason). Mint saves great money as well. Have a roommate as much as i don't like him, I am paying about $650 w/ utlities. Still feels like I'm on the edge though unless i cut my retirement savings down
glad someone else called this out because it sounds like a simply budgeting issue she's having.
When she said she has a $800/month payment for two vehicles is what got me.
Yeah you have to jump inusrances every few years to get better and affordable rates. Helps too if your car is older. I never buy a brand spanking new 2024 car.
I'd note that due to lack of public transport options, the example had two cars costing them $1800 per month (before gas). Health costs in the US is also a killer (sometimes literally). I was surprised that taxes took so much from a Texas resident...
Yup. You can thank the car lobbies in the 60s for that. Urban development favored massive highways over public transportation!
1800 seemed nuts. Online there many used old cars. Seemed more sense too look for a good mechanic and not crazy payment
@@Sophie3647s yes. They probably feel entitled to having a modern car
They had to buy 2 fancy new cars they can't afford and then complain about being poor, lol. I drove a $2000 car for 10 years before my first new car I mostly paid in cash.
Lack of public transportation is a BIG deal. When I was a very little kid, both my mother and my grandmother took the bus to work. The bus came right into the neighborhood, making it easily accessible. It was actually a big selling point for my mom when she bought the house. Having a house in a neighborhood that was served by a bus line allowed both my grandparents' household and my parents' household to have only one car. The men, who worked farther afield in an area that was not served by the bus line, took the cars to work. The women, who worked downtown, took the bus. The bus was a safety net. Even if something did happen to one of the cars, the family could still get around and at least one adult could get to work. When that bus line went away, both households had to have two cars.
The infrastructure is such that there are few bike lanes, sidewalks, or crosswalks, making any alternative mode of transportation dangerous. The bus lines that do exist now, in my area, no longer come into the neighborhoods. People are required to walk a mile, minimum, despite the above mentioned inhospitable pedestrian infrastructure and to stand in unlit areas. The timing often means their commute, which might be 10 minutes by car, might take them an hour or more by bus. So people don't do it, naturally, which then drives demand for bus services down, and then services decrease yet again, leading to a death spiral. The feature that once made the neighborhood attractive to my mom's generation and to my grandmother's generation is a nightmare for my generation.
And before anyone goes blaming people for driving "fancy" cars, keep in mind that buying cheaper, older cars often means that the cars are unreliable, need lots of surprise repairs that cost unbudgeted money and time away from work, guzzle more gas, and will need to be replaced more often, meaning folks need a couple thousand in savings at all times in order to cover the unexpected cost of a new old vehicle every time the current one craps out, so once every couple of years. It might turn out to be less expensive, in the long run, to have a larger payment on a nicer car.
We need robust public transportation options in more than just a few select cities.
Interesting how 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. This may have worked when I was only using a few thousand dollars to invest, but it is more challenging to decide to withdraw more than $365,000 from my account at this point. Despite the severe bear market, I am aware of certain investors that continue to earn that amount. I wish I could accomplish that.
sure there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
I only work with one financial consultant AMY JEAN ANDERSEN, a financial consultant I came across on a business insider interview, to get in touch with her, just search her name online for all the info you need about her.
@@VanPelt54u7fcyde57 Thank you for this amazing tip. I verified her and booked a call session with her. She seems Proficient.
Chantal lists her households expenses and what immediately jumped out to me were the car expenses: 800$ payment plus 400$ insurance. If the US would provide reliable and efficient public transit to their residents, these massive costs would be cut for all americans. Chantal could save 1200$ a month, or only need one car instead of two and save 600$ a month. Either way, that's huge savings, and would help her family's upward mobility, as well as the upward mobility of all other american residents
When i was younger i always dreamed of becomming rich and the fact i wasnt nearly there made me sad all the time. a few years ago i had a lot of money, and when i had this money, i realized, all i wanted is more money, i still wasn't happy. Some things happend and i lost most of that money, but something funny happend too, i dont dream of becomming rich anymore, i dont even want to become rich anymore, i let it all go, i dont care about money anymore, as long as i can provide for my needs, wich isn't a lot, health, friendship, passion for hobbies, are worth much more then having a lot of money.
Hobbies cost a lot of money too, like sports cars collections, watch collections or sailing your own yacht.
Happy for you my friend. You have escapted... the Matrix.
Too bad most people don't realize the truth and only few wise enjoy their life.
When I was young, I looked at fashion magazines with all their glossy pictures of designer clothes and I imagined having them and being fashionable. But I discovered that I was not in that earning bracket and I moderated my wish list. Now, having much less income, I feel lucky to have my family, my fiends and a roof over my head, I feel rich even if I am not.
Middle class is middle finger, nowadays anywhere.
I want to invest in the crypto market I need a reliable broker that will help me trade my coin and make profits Any recommendations?
crypto ? that is a scam , even thought it always has been at least at the beguiling of it you could have actually gambled and made money , today is a high risk low return roulette you could win big only if you are as lucky in the casino same odds , i suggest you try to learn AI as much as you can until you can figure out what field you can use it for , it’s hard i am not going to lie but is the only thing that could offer you some kind of a future as far as making millions unlikely but you don’t need millions to live in a decent standard
Crypto isn't an investment, it is gambling.
Crypto very unpredictable. But I use Robinhood. But limited crypto choices
4/10 Americans claim debt is a stressor for them - but 4/10 Americans are driving expensive cars they shouldn't be, taking trips they don't need to, and buying consumer goods they cant buy cash.
@5:30 - they have $800 in car payments and $260 for two phones that they leased. Id wager there's a lot more frivolous expenses she's not mentioning.
@34:41 - same situation, look at the decor in her house, look at her Subaru SUV, does this look like someone who pinching pennies? People are unwilling to make hard choices for long term gain.
There's an unwillingness to accept less than, temporarily, and therein is the root cause of many problems. Is it more expensive right now? Yes, I agree life is substantially more expensive these days, but whining about it and ruining your financial future by spending unnecessarily isn't going to improve the situation - this is the new norm, end game capitalism.
The underlying factor is the reduced taxes on the higher income part of the US. The costs supported by those taxes haven't disappeared, they have simply been transferred to the middle classes in the form of College tuition fees, etc.
Yes, most younger people are unaware of just how high the tax rates on the top 1% or so of earners were back in the 70s. Then came trickle down economics and the idea that the less you taxed the rich, the more money the rich would put into the economy and the better the standard of living would be for the poor and middle class. So top tax rates went down, the federal debt went up, safety nets began to disappear and the middle class began to shrink. And I’m not sure, but my impression is that the tax burden on the lower and middle class actually grew after that. Sales taxes went up everywhere, some taxes became reclassified as “fees”, property taxes became a much bigger percentage of income, and on and on. One unexpected result of the lower tax rates on the highest earners was that CEOs became incentivized to take a much bigger percentage of their company profits since they were now allowed to keep most of that pay. 100k salaries became 100 million dollar compensation packages. I can’t count the number of times I heard about a CEO getting a huge raise after forcing their employees to take a big pay cut during union negotiations. And that was before they started sending the jobs overseas.
You literally just made up that underlying factor lol
@@aliannarodriguez1581 the effective tax rate on top earners is the same as its been since like 1955
The tax burden on middle and lower classes didn't grow
@@jsebby2284
Reaganomics amounted to reducing the tax burden on the rich. This was furthered by the Clintons and the Bushes, all of whom are close friends with each other.
@@michaeledwards2251 reagen decreased taxes for basically everyone. Clinton raised taxes on the rich. Bush lowered taxes for everyone
This country's willingness to help other countries before we help ourseleves is insane
Which help? Interference is not help. I live in one of those countries being “aided” by the US… there has been nothing beneficial for us. It’s a one sided deal.
Only countries that benefit them.
Ukranie needs more money 💰
@@randomguy7175 Money sent to Ukraine helps lift American prostitutes out of poverty. Vote Joe Biden.
Duh we only give out aid if it benefits us ( the USA government) the aid isn’t from the goodness of our hearts lol
I’m making 80k and my brother is earning 60k. We both graduated college with minimal debt and are considered “boomerang” children because we keep moving back home. If we want our own apartments, it’s about $3000 a month. Im on an affordable housing waitlist. I’m hoping to increase my income enough to afford an apartment myself but I don’t see that happening for another few years, or unless I find a partner, which is hard to do when you live at home 🤷🏽♀️🤷🏽♀️
Stay home and sane your money. Don’t listen to many out there saying you need to go and rent for a large chump of your paycheck and barely making it
Considering the circumstances, there is no shame in living with your folks. Some parents wouldn't even allow it. You are blessed with good and understanding parents.
80k a year is more than enough to get an apartment pretty much anywhere except like L.a or nyc especially like a one-bedroom... I'm at 60k and I can get a one or two bedroom with that ur at 80k
you should stay at your parents home and save then tbh. and dont feel bad about it. in many easter countries its normal to stay at your parents and be able tos ave up until you can make it on your own. idk why a lot of places like the US parents bring kid's in the world and then kick them outt at 18 and say good luck with life.
Its very expensive out here due to Inflation and minimal
Raises. I make 70 K but it feels like 50 K because everything is so expensive.
These companies are gouging us and this Administration in Washington DC doesn't care.
They want us to loose everything so we can depend on the Government for survival.
I'm depressed every day; I used to be able to go on a vacation, go to the doctor for check-ups, go to a gynecologist and just have a little peace of mind with some breathing room. Greed is literally eating up America. That's the truth.....bottom line.
Peoples expectations are just to high now! In the mid '80's, my doctor lived down the street. His house was about 1,800sqft, single garage on a 60 by 120ft lot.
Today, my new doctor has an estate. 20 acres, electric gates at entrance. At least 5,000sqft house with 4 car garage. His motor home probably costs more than my old doctors house.
Everyone thinks their a Kardashian.
I get what youre saying..but what ive noticed is that ALL the houses they build these days are huge and start off high..,houses like the one you are explaining, the 1800 sq ft, tend to be older and in rougher parts of town..
True words my friend.
while that might be true
that is not the root of the problem. you just saw the beginning of the video of simply how much salaries have risen compared to housing and college, now it is unaffordable.
and that old guy was exactly explaining when took place the inflexion point. mid 70s-80s when capitalism shifted to financial corporativism, deregulation of companies and the stock market. the previous system, based on the Keynesian mindset of distributing wealth across the society was blown up. Particular interests have been put above national interests: companies leaving to third world countries to treat people there as in mid XIX-century just to cut out costs, stock market rules disappearing so things were considered market speculation were permitted, loss of the strength in US unions so nobody to fight for workers' rights home
all these combined is bringing our society structure to medieval times. A wealthy elite on top that has all power and resources and a bottom, almost impossible to climb, poor base in which lie the rest, with no access to property, higher education and even affording family.
I highly recommend David Graeber on all these socioeconomical topics. Let's not accept this new societal order!
If he worked for it, he shall have it. The old doctor didn't want a bigger house... it's not a problem that your new doctor has a big house. That is not your business.
@@sayeed7255 Point is, our expectations have risen so high. My diesel mechanic nephew just bought a 2-million dollar house.
I have watched this video for over 12 minutes and nowhere is it mentioned that both husband and wife are working to maintain the middle-class lifestyle. The baby boomers did not face this. In fact, a baby boomer was able to make the house-payment easily, and he was working by himself! The wife was not expected to work in the 1950s. This is a huge difference between then and now.
That is 100% the democrats and feminist movements fault. Facts are facts. You can’t socially engineer a country without impacting the economy. No amount of wishing is going to change the laws of economics. Period. When you inject more money into the family unit you increase the costs for everyone.
Then destroyed the inner city family units with welfare. This is all on purpose
Say thanks to the neo-liberal order that started with Reagan. He and Bill Clinton was basically the death of any kind of worker party in the US. Now everything is run for to maximize profit for the owning class. Nothing will get better until we understand who our allies are and stand in solidarity with them to demand what has been taken from us.
And if was caused by feminism. Women went to work. Doubling the number of workers. Which keeps wages low. Go back to getting married. Staying together. And the wife at home raising the kids. If we all did this. The families would be better. The job market would improve. And kids wouldn't be so f up
Are you against women having their own income and life?
@@notmypotato3730 it's correct that women moving into the labor force has increased supply, but so has lower wages forcing people to work longer and more jobs to survive. In addition to efficiencies requiring less laborers and therefore lower wages for those lucky enough to not get laid off. And our capitalist system gives all of those rewards to the owners, and the workers get laid off or salaries cut.
I have a computer science degree. I have a tech job. I work a second job doing food delivery. It's very hard to be able to save anything here in Massachusetts. If I had kids, it would be impossible.
If you're computer science degree bro, find a work that you can do it even you're in your home or other country just like a remote work bro, my blonde girl friend is pure white American, I bring her in my country Philippines last 2019, she is working in their company in US while she is in my country also her salary is still dollar based minimum salary, so this makes her saved alot of money, because cost of living in the Philippines is very cheaper than to US cost of living, my girlfriend not wants to be back in US she wants to married me as soon as a possible just claimed a sa citizenship in my country. so this means this is not about the country gdp this is about the wise choice. Much poorest countries much cheaper cost of living, just like if you're living in Burundi bro I think you're rich in that country in just only a months of working via remote and having a dollar based salary 😂
@@Raymund38TVM I've thought about this a lot to be honest, I just don't know anything about moving countries and stuff like that. My current job is remote!
Auto loans, mortgages and credit card debt, along with the renting situation is way out of control.
It's going on here in Canada too.
Just for a roof over your head, with utilities and internet, that's like 60 percent of your income, gone!
Getting a side gig when you already have a full time job to contend with too, is not a practical solution to solving the problem.
Lets face it, their working us to death 💀
Retirement is laughable.
Most will die on the front lines before they ever experience what's its like to be free.
When people live with a lack of income, often their sleep is effected, oral hygiene is effected because they can't afford a cleaning, they eat cheap and highly prossed food, and much more.
All of these things compound over time.
They keep the lower income people fighting amongst themselves by creating all of these stressors, while they (the bank and your landlord) run off with all of our bloody money! 💰
The system is purposely designed to be overwhelming.
i was checking out the car and the APR is 9.49 from toyota, that's IF you have good credit score , lol !
I think you mean to use, “they’re.”
@@CountJeffula
I see yes.
A simple mistake.
That's all you got from that?
You're a real gem 💎 LOL
If you don't own a home, I'm not sure you are middle class. I mean think about it. About 65% of Americans own at least 1 home. That means 35% don't and about 33% of Americans are working class or poor(11.6% live in poverty).
It’s capitalism. It’s not designed that way, it’s just the inevitable outcome once it’s outgrown it’s usefulness. It’s ready to be phased out because it can no longer serve our interests
We're middle class and doing incredible but we drive old cars, (2003 and 2014 for the wife) have no debt besides our mortgage, and it's a 15 year note that should pay off in about 8 to 9 years. We live in a really nice MCOL working class area in a very old home but 15 minutes from the city. By no means do we 'look' fancy, but having no debt is our goal as a solid foundation to build wealth. It's not about how much you make, it's about how much you keep.
You are killing it, we need role models like you. Unlike some of the people in this video, who don't understand what living below your means is.
We live similar lifestyles ~ I live in an old Mansion over looking the Pacific on 16 acres of orange orchards in Pacific Palisades! Paid off the mortgage this past February, drive a very old '87 RR Camargue with no car payments, no other debt at all. Just last week I bought myself a diamond watch ~ CASH!
Yes! My goal is to be debt free. I drive a 2001 and that allowed us to save for a home down-payment. Now we're hoping it hangs around long enough while we save for a cash car and pay off what we used to make some home updates.
Well, it’s both! But if the average middle income is $67,000 the its now much you keep. If you make $7.25 an hr minimum wage it’s $15,000 and keeping is good but difficult.
Can’t keep anything if you don’t make enough in the first place. This is a dangerous elitist, victim blaming, mindset.
I feel like if at least housing and healthcare was affordable, I'd be able to afford so much more
There are real benefits to a single payer health care system, but there are huge draw backs also. How do you propose making housing more affordable?
@@vinchenzomarchiavafa962 Stop zoning only for single family homes.
@@vinchenzomarchiavafa962 The drawbacks to a single payer system are insignificant in the face of the benefits. Gtfoh.
@@vinchenzomarchiavafa962 Increase property taxes for homes that aren't the owner's primary residence. The extra taxes on each should go up for every house over a certain threshold (10? 20? 50? not sure on the best number to use) and should go up more if the house is owned by a company and not an individual or family. Way too many homes are being bought as investments and it's pricing actual humans out of the market.
Same. Now rent can be insane its depressing
Ramsey was right about those car payments. The sister said they have 800 a month tied up in car payments. If they were able to buy the vehicles cash which means a more modest form of transportation. That's 800 dollars that can be used more productively else where. Ramsey is right. Get on a budget get rid of those credit cards and car payments. Stop borrowing money. All the things I just mentioned is the very thing creditors use against us.
Every adult I know(40 to 50 years old) have been in the same situation they were in for DECADES, a lot in worse situations now than they have ever been in before
Very true. I'm in my 40's. I grew up poor. I got my Bachelor's degree last year and have two jobs, one is salaried and the other is hourly. I worked while getting my degree therefore my student loan is very small, $3k. However I still can't afford a home and have not saved enough for retirement. I believe I will work until I die. Born poor, live poor and die poor. This is depressing.
I think that a lack of self-esteem is a major factor in attaining huge debt. Many people feel the need to buy things to show off to others so they can feel better about themselves. When you see folks with a fancy house, fancy car, and/or fancy stuff, what you are actually seeing is the visible part of an economic iceberg bobbing on the surface. What you don't see is the gigantic chunk of ice (i.e. debt) hidden below the surface that tells the real story.
Ikr. I remember going to this Doctors house back in the day and the outside of the house was just beautiful. We all thought he’s living his best life. We went inside and the house was so empty (bare bones).
@@Nisa-gm5wg maybe he likes it like that cuz doctors are paid
@@Kelogotti no sir he didn’t. He was broke. His student loans, big house and expensive car were horrendous to pay. All he had to do was live like he did when he was a student and pay it off then he could live big time. Not all doctors get paid like that either. It depends on what you do ( like general doctor vs brain surgeon. Now they get paid). I never knew what happened to him. Hopefully he’s doing fine now since it was years ago
The lady in the red T shirt and her husband are overspending. If they paid cash for used cars rather than making payments and meal prepped instead of eating out they'd have more wiggle room. Those phone bills are ridiculous. They could easily shop around and get something cheaper with the same coverage! They're keeping up appearances.
I agree. Stuff is some mask or bandaid to hide behind or to distract from a hurt or wound they don't want discovered. In reality, people really don't care what you own, but they will forever remember how you made them feel. The old saying goes, 'you'll attract more bees with honey than with vinegar."