[jandrewrogers]

The average American is not an unexpected $400 bill away from bankruptcy. This has been debunked countless times. Per the US government's own detailed statistics (BLS), the median household has $1000 per month leftover after all ordinary expenses. That's literally money available to piss away on whatever after all the basic lifestyle expenses, so it will definitely cover a $400 expense.

Americans have a lot of discretionary income. While there is a part of the population that cannot afford an unexpected $400 expense, that only applies to 10-15% of the population, per Federal Reserve studies.

[sillysaurusx]

Am American. Did go bankrupt. Bill was $4k. Hospital trip.

You’re quoting the fed and seem a little out of touch with the realities that most Americans face on a day to day basis. I didn’t grow up in a bad part of town. I’m a successful programmer.

[jandrewrogers]

I am probably more in touch with that reality than most people here. I have decades of first-hand experience with the economics of being poor in America, and had to dig out of holes much larger than $4k. Never went bankrupt, though I came close once. I am financially comfortable now but I still have a lot of contact with that world, and am familiar with their finances.

The Federal Reserve and BLS data accurately reflects the realities average Americans face day to day in my experience. Individual situations are always somewhat unique and varies a bit depending on where you live in the US, but the statistics are broadly correct.

[lamontcg]

how many people would have a $50,000 expense set their retirement savings back at last a couple years, if not bankrupt them?

none of these people are building a rocket company in their lives.

[ameister14]

$400 =/= $50000

Also Jeff Bezos was born to a high school attending mom who worked as a secretary and went to night school after she quickly became a single mom - he built a rocket company

[sillysaurusx]

Good lord. Jeff Bezos worked in finance and had a six figure job lined up if Amazon failed.

I can’t figure out if this is an HN thing, but this cult mentality of “anyone can do it” needs to die out.

[ameister14]

I honestly don't understand. If your point is someone who has only worked jobs for minimum wage is never going to suddenly start a rocket company I'd say you're correct. Especially if someone built or found their safety net on their own, I don't think we should begrudge them having it.

How do you think this works? Do you think 'anyone can do it' means winning the lottery? It means working really hard, getting lucky along the way, and being smart - that likely means getting into finance if it's the 80's and early 90's and tech if it's late nineties and aughts. It doesn't happen overnight.

The reality is, though, that you don't have to be born to millionaires to be one of the richest people in the world.