To try out Rocket Money today and unlock more features with premium, head to: https://rocketmoney.com/graham - Enjoy! Let's talk about why the the American Savings Rate has fallen to a low of 4%, and
I talked to my family about this recently. When I was a kid 30 years ago entertainment was extremely expensive. Movies, toys, TVs, games, etc etc etc.
But now that stuff is cheap, but what is extremely expensive is the basics like healthcare, housing, education, daycare, staples (food/gas to some extent, but not as much as others). This is the needs and are expensive, but the wants are damn cheap compared to 30 years ago. This is what is concerning.
I have no idea what that feels like. My entire life I've lived off of need, not want. Also, no matter what, I've always chosen to live below my means. Most Americans refuse to make extreme sacrifices to get ahead. Good luck!
When I entered the workforce, I kept hearing about the concept of "lifestyle creep" where people continue living paycheck to paycheck because their spending rises with higher earnings. Well I've not changed my lifestyle at all in the last four years, but my hobbies all became twice as expensive in that time. Soon I won't be able to afford to keep the same old lifestyle despite earning more!
The 'Barbell Effect' mentioned at is terrifying. We are moving toward a society of the 'Affluent' and the 'Impoverished' with nothing in the middle. The fact that homeowners have 44x more wealth than renters proves that the barrier to entry has become a gate. If you don't get over that wall now, the cost of 'catching up' becomes mathematically impossible. Stop confusing income with wealth. One pays your bills, the other buys your freedom. 📈
The whole country is "poor" at this point. The elites are just ruling over a dumpster fire. They became so selfish and greedy that they now own a wasteland of suffering and only have themselves to blame for it.
2027, US government replaces the atmosphere with farts, multiple politicians found buying huge positions in air freshener companies just minutes before the decision
--Here is a link containing the source material for each piece of research cited. I do my best to make my videos as accurate as I can, and the additional resources should help anyone who wants to look into them further - enjoy! docs.google.com/spreadsheets/d/1I92hUlxNi6j3u3BeVa…
-To try out Rocket Money today and unlock more features with premium, head to: rocketmoney.com/graham - Enjoy!
We use cookies, device fingerprinting and cross-device tracking to personalise content, serve targeted advertising, and analyse how you use our site across your devices. By clicking Accept all you consent to the use of these tracking technologies. Your data may be used to build a profile of your interests and show you personalised ads on other sites.
Privacy policy
Comments (20)
Daily Junction discussion mixed with clearly attributed comments from the original video provider.
Join in — free. Comments on Daily Junction are for members, so real names stay rare and bots stay out.
One field. We email you a 6-digit code — no password needed. Your comment is kept while you do it.
Under 13? You’ll need a parent’s OK first — it takes them one click.
But now that stuff is cheap, but what is extremely expensive is the basics like healthcare, housing, education, daycare, staples (food/gas to some extent, but not as much as others). This is the needs and are expensive, but the wants are damn cheap compared to 30 years ago. This is what is concerning.
-To try out Rocket Money today and unlock more features with premium, head to: rocketmoney.com/graham - Enjoy!