> They are also tied for first for having the highest cost of living.
Who cares?
Absolute savings rate and net worth are what matter.
Any European will gladly live in America for US$1 million/year income even if the cost of living is US$300k/year.
Who cares?
Absolute savings rate and net worth are what matter.
Any European will gladly live in America for US$1 million/year income even if the cost of living is US$300k/year.
https://www.ft.com/content/653bbb26-8a22-4db3-b43d-c34a0b774...
OK, now tell me how the savings and net worth look like for your average American. I'll give you a bit of a spoiler: it's not good.