Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
  • Vaggumon
    40•2 years ago

    Really? Do they? That’s very interesting. Tell me, is the over half more like 99%?

      • @[email protected]
        5•2 years ago

        I think the stat you’re referencing is for people aged 65-69. That means 30% of those people are still working. That number should be much lower, like 0.

    • @[email protected]
      3•2 years ago

      I think you knew exactly what idea they were saying. Agency, the ability to control your own life, varies. Clearly and obviously a regular person in the West has more agency than say a regular person in North Korea. It is not an one-off switch. The ever growing wealth inequality is making the population shift more and more to the slave side of things. That doesn’t mean that you are a slave it means your papa was less of a slave compared to you.

      This is why being a lolitarian makes you stupid. It bifurcates slavery and freedom. It defines force to be a specific term, that no one else uses, and declares victory in the game it is playing with itself

      • @[email protected]
        2•2 years ago

        It’s really disingenuous to compare US-only data to unrelated generalizations of other countries that function under different cultural and economic systems. But I feel like you already know that.

    • @[email protected]
      30•2 years ago

      Today a young man on acid realized that all matter is merely energy condensed to a slow vibration, that we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves. Heres Tom with the Weather.

    • @[email protected]
      1•2 years ago

      If over half of a country’s population doesn’t understand how essential functions of our own financial security work, that is indicative of a failed system

  • @[email protected]
    1•2 years ago

    If you just saved 5% of your pay in a 401k from the time you were 22 and invest in the stock market for 40 years and never get sick, quit your job to raise a family or care for loved ones, then you might become a millionaire. Not that a million would be enough to retire on after 40 years of inflation.

    Also, this plan depends on the world economy continuing to grow at the same rate as it did in the past, never mind that this growth is toxic to the planet. But, hey you might see some financial freedom at that point.

    Just stick with it.

    • greenskye
      1•2 years ago

      My definition is:

      Ability to pay all expenses, including things like sudden repairs, medical payments, job loss for up to 6 months, etc with minimal impact to quality of life.

      Ability to partake in moderate luxuries such as travel, dining out, new phone/TV/etc every so often. Does not mean you have enough to always buy whatever you want, but have enough to have some extra enjoyment.

      Ability to take care of 1-2 children including education, day care, medical, activities, etc

      Just based on the healthcare component alone, I don’t think it’s feasible for Americans to be financially free until they hit the millions. Otherwise, if you ignore that aspect I’d say its around the mid level executive type of income or about ~$300-600k year depending on location. If it’s just moderate financial stability, then it’s maybe only $90-200k, but I don’t think I’d call that level ‘free’

    • @[email protected]
      3•2 years ago

      I’d define it working on whatever you want for a living.

      I don’t necessarily mean surfing and getting drunk every day, but just being able to make a living off something that you actually want to do.

      I make enough to make ends meet and pay off my mortgage and then some, but I’m not financially secure enough to just quit from one day to the next or start a company myself to make the things that I think the world needs or that I find interesting.

      I believe that there’s a huge potential if people weren’t bound to always have a job that pays the bills. Most people are limited to carrying out the ideas of a few people who have the means to live their dreams.

      Universal basic income could solve this and realise that potential. And it only requires taxing of the richest or automation of the government services. If we did a little of each, we could actually have this.

  • Franzia
    2•2 years ago

    Dog I’ve been lying flat since I figured out the world wasn’t how I imagined it. I’m so stuck in my lack of freedom I’m like not even in the top 10 decision makers in my own life.

  • @[email protected]
    8•2 years ago

    Old news. How about providing some ideas of solutions to this problem. Like, I dunno, tax the rich… 🤔

  • @[email protected]
    22•2 years ago

    I would also venture to say that applies to 90% of us. “Over half” is a fucking laughable fake figure.

      • @[email protected]
        1•2 years ago

        Yeah, but it’s marketing jargon to make it seem like less of a deal. When someone says “over half” do you immediately assume they’re talking in the 90% range, or closer to 60%?

  • @[email protected]
    21•2 years ago

    I’m now in a 2 income household with fewer kids as they grow up, and to us it feels more like we are close always, just no hope of ever actually getting there, if that makes sense. Always almost enough.

    Which is better than my previous experience but since it’s happening later in life, still wouldn’t expect to ever stop having to earn money by working. I have never expected to retire though, it would take - as someone else noted - a windfall, luck, not effort. Effort has taken us as far as it can.