[quote=flyer]If Americans are really concerned about their future and the future of their children, they should be very concerned that only 10% of Americans are millionaires, and around 80% of all workers (which would encompass those from both parties) earn around $50K a year.
It’s clear that the wealth gap, among all economic strata is continuing to widen in this country, and it will be interesting to see if either candidate, if elected, can change this trend going forward. If not, there should be a lot of very disappointed voters.[/quote]
The reality is that $50K/year is a lot of money in many parts of this country. One could do OK even in some part of this county. A household with two working adults making $100K/year is probably solid (upper)middle class.
The problem with most Americans is that they simply don’t know how to manage their money and their financial ignorance sometimes borderline stupidity. Talked to someone recently and found out the dude needed to replenish his emergency fund (a good thing) awhile back (a year?). So, exactly how did this guy fund his emergency fund? He did it by completely stopping participating in his company’s 401k plan. A complete idiotic move since for during that period he missed out on the generous company’s matching. Here’s the kicker, he’s a financial “adviser” for his church.
I am curious what kind of budget the Piggs are putting aside a year for expenses (including mortgage payments).
