| > Saving 10k is unbelievably difficult unless you're making extremely good money to the point where it's out of reach for the majority of Americans. Most Americans can't even stomach a $500 emergency [0] so I don't know where you think these people can work such that they can have 10k set aside after six months. I have contradictory anecdata on this. Two modifications to your premises, though: - I did it all in the US, in an "expensive" area (Austin) - For me, it was closer to 7 months of saving, but it was also closer to a year off than half a year (between 10 and 11 months, rather than 6) Some more facts behind these numbers: - I went out to eat during this 10.5 + 7 month period about as frequently as (probably more than) a normal household in 1970 would have, which is to say not often but also a not number that is zero, and I also splurged on craft beer and (cheap) wine and convenient/tasty food and unhealthy snacks from the store often enough - There was no inherited property or parents' money or someone else otherwise taking care of me or any other tricks up my sleeve involved here (all different types of safety nets that I just didn't not use but that don't exist, so I wouldn't have been able to use it even if I wanted to) - I was single during this time (so no "other half" to subsidize expenses) - I cancelled my car insurance a few months into lockdown and was at the disadvantage of doing all this with no car - I rent, and I have roommates, but I cover my share (I'm usually subsidizing e.g. their utility usage) Saving 10k was difficult, but I was also bleeding money for other reasons during this time of savings, so anyone not subject to the circumstances I was in should actually be able to fare better. I also wasn't making "extremely good money". The I-hate-my-job company I was at hires for some-college experience to do monotonous, stressful work at <$20/hr. That's less than $45k per year, which is greater than your individual contribution to your half of the gross national average, assuming a two-person household, but it's nowhere close to even being a six figure job, let alone $200k or $500k. I agree with everything in your final paragraph. |