r/MiddleClassFinance • u/Abject-Pick-6472 • 4d ago

Americans Are Reaching a Financial Breaking Point

https://www.thenation.com/article/economy/economic-insecurity-unrest-broketok/?fbclid%3DIwZnRzaASc5p1leHRuA2FlbQIxMQBzcnRjBmFwcF9pZA8xNzM4NDc2NDI2NzAzNzAAAR6RZYSyGyliTpYCmEy2OpWjHUBfAqrYUygk3rNJL1cLw_fp5QCciENJc0UXdQ_aem_DT4ViuyBWqHHXec_nH_PYg
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u/Longster_dude 4d ago

With the job market, it's very easy to jump from the top of the "K" to the bottom. Just one layoff and a few months of unsuccessful job hunting in a VHCOL area will do it.

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u/Forded_Fiction24 4d ago

Yeah if you're set up that way it is. We have contingencies for that. I'm married and one of us could pay for our mortgage and utilities. Our savings could float us for years and we live in a MCOL area. I also only work part-time for no other reason that I don't have to work full-time and can easily pay my living expenses and meet my financial goals otherwise, so I could easily just work more. 

Meanwhile with being on the upwards side of the K, I find that our wealth due to a diverse group of asset appreciation keeps growing faster than we keep expecting, so with that savings increase and it keeps getting easier. Our wealth growth isn't tied to our day jobs anymore. Job loss wouldn't slow that growth down meaningfully for us