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17 days agoI always liked the definition of financially stable to be at a state where you can weather two major life events at the same time and not be devastating. Replace a vehicle and pay your max out of pocket for health insurance at the same time.
What we find is that so many of us are one bad day away from doom.
What’s even more disturbing is when you think of how much savings would be needed to weather the storm. If your car is totalled and you had to find something, one of the adult loses their job and you have to cover a month or three of life. We are talking tens of thousands of dollars.
But maybe even worse is how quickly that can be replaced. If shit hits the fan and you survived, how long are you vulnerable? Two years? A decade of saving?
When you look at the top 10% of society there just aren’t that many problems that could cause them to be homeless in 24hrs.