> inconsequential $100k bonus in my portfolio
It seems we are truly ducking poor here in the EU. My parents have been running a farm for 40 years in the Netherlands and they’re doing well financially. Still, $100k is not inconsequential for them!
It seems we are truly ducking poor here in the EU. My parents have been running a farm for 40 years in the Netherlands and they’re doing well financially. Still, $100k is not inconsequential for them!
Just remind yourself this place is an extreme outlier whenever you hear someone here treating life-changing sums of money for 90-95% of the global population as "inconsequential".
https://www.bankrate.com/banking/savings/emergency-savings-r...
One fourth have no savings at all. European stats are similar:
https://www.statista.com/statistics/1221416/households-witho...
This group is further split into two kinds of people: Those who had an opportunity to take advantage of the massive financialization of the world, and those who weren't afforded that opportunity.
Would love to see some data, as anecdotally, living in the Bay Area, I cannot at all relate to your comment given the massive amount of wealth virtually anyone I know has. People routinely drop $1k on a couple of mid-tier restaurant dinners around here (restaurant prices show that a drink these days is $25, crazy, good thing I stopped consuming alcohol), which I do understand is an outlier. Thanks.
> When faced with a hypothetical expense of $400, 63 percent of all adults in 2023 said they would have covered it exclusively using cash, savings, or a credit card paid off at the next statement [...] 37 percent of adults [...] would not have covered a $400 expense completely with cash or its equivalent