Quote:
Originally Posted by Koko2
When I read statistics on wealth of United States citizens, there's raw numbers like the average savings is $20,000, the average debt excluding home mortage is just $2,000 and so forth. Yet when I read about people's finances online, there seems to be many people just struggling along paycheck to paycheck or on the verge of bankruptcy. I know there's people living in nice homes that are appreciating in value and people who say that they'll have a million socked away by retirement, so I know there's some wealthy people out there, but is it really that typical to have $20,000+ stowed away in bank accounts to reflect in these economic statistics?
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My opinion is, the middle class is disappearing. Walking through Manhattan & then London a few months ago, it dawned on me - there are two types of people in the world - the ones who are filthy rich who can afford these lavish houses or flats, and then there is everybody else. I know that's not true, but it sure seemed like it. Bottom line is, (IMO) if these wealthy people have thousands or millions of dollars socked away or in investments and the average Joe is living from paycheck to paycheck, it throws the averages out of whack.