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"well into 6 figures"

Do you understand how much money that is? Compared to the rest of the world population, I mean.

Please don't tell me these people cannot food and rent.

That's my point. His well-off friends are burning through their money by spending it on luxuries. If somebody sits them down in January and tells them they need to have saved up $20k by December, it's a small adjustment in lifestyle and a change in a few habits.

For a family making $50k a year, that's very different.

It’s really not that difficult to be broke in a major USA city, on 100k a year, if you work in certain industries or hang out in certain crowds.

It's never "difficult to be broke", just spend more money than you have, even billionaires go broke.

Most billionaires don't go broke because they spend more than they have on personal expenses. They tend to go broke because of bad investing.

Plenty of billionaires became billionaires in the first place by investing aggressively and using debt to build something. And once the music stops, or the table turns, that might all crumble if caught off guard.

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