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96 sats \ 2 replies \ @SimpleStacker 5 Apr \ on: 62.5% of US Consumers Live Paycheck to Paycheck charts_and_numbers
What does it mean to live paycheck to paycheck?
I know people who say they live paycheck to paycheck but that's only because they're allocating a big part of their paycheck to various retirement plans. It's only paycheck to paycheck because the retirement contributions are deducted from the paycheck
Living paycheck to paycheck means the funds from the one check are depleted by the time the next paycheck is received. For some, I suppose, they have part of their check go to retirement savings.
But the term generally refers to those where, if the next check doesn't come, life gets difficult. Fast.
These people don't have savings -- they live off their income, and have little-to-nothing to cover an emergency, nonetheless being able to get by for a while if the next check didn't come because of a layoff, or similar.
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To what extend do you estimate the funds allocated to retirement funds are held in assets whose values are sustained/inflated by serial fiat debt leverage?
Fiat money since 1971 has created a financial system where consumers and wealth funds/assets (equities and property) are mired in debt.
If that USD denominated fiat debt supporting retirement savings becomes insolvent then there is an almighty crash ahead.
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