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by wahern
2460 days ago
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Working class usually implies little to no savings beyond, perhaps, equity in your house. Losing your job means you're several weeks away from couch surfing or living on the street. In terms of emotional stress this is worlds away from the toil of the middle class, especially someone making $100,000/year or more. I grew up poor--like, food stamps and having your furniture thrown out on the street during an eviction poor. Being upper middle class as an adult, one thing I do to relieve the stress is keep my "plan B" in mind. I have more than enough savings that if I had to I could buy a double-wide trailer in the sticks, send the kids to public school, buy a bait shop, and get by just fine. That makes a world of difference, but it's not an option available to the working class. If you're working class your only choices are poverty and the status quo. A software engineer like myself, or a doctor making $600k/year thinking of themselves as working class, kinda blows my mind. It's not like the working class believe that they're the only ones who work hard. |
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It is about spending, and a lot of doctors - despite their high incomes - are in debt with no savings - and equity in the house is 5% as anytime it gets more than that they take out a home equity loan for the difference.
Which is why doctors can feel like they are barely making it: with their spending habits it is a good thing their job is in demand.