They’ll obviously die of poverty the first week. Anyone else want to suffer this badly? /s
To be fair, it sounds like they’re one medical emergency away from being homeless in America.
What? Do you know what a deductible is?
Why the fuck would you keep $400,000 in cash?
Emergency fund, man. What if the air conditioner dies?
You could actually eat through more than that with a nasty injury in the US.
If you have no insurance, sure. If you have even crappy insurance and max out both your in network and out of network out of pocket maximums, you are talking tens of thousands, not hundreds.
Source: Just did a bunch of worst case scenario comparisons between options insurance options for my wife and I.
Edit: There is a caveat here, I didnt consider originally. If you have insurance that ONLY covers in-network, then yeah… you can get fucked real hard in an emergency medical situation that puts you out of network. Dont get that kind of insurance, people. No amount of cost savings is worth that risk.
This is only true if the insurance decides if your treatment or received health care is covered. If you happen to need something that the insurance just outright will not cover, then you foot the bill.
Fair point. Generally, emergency minimally life saving care is covered by default. That’s the point of getting insurance. I’m sure there’s many examples of that failing to hold true, though.
Must be nice to be rich.
Why is this on aboringdystopia?
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I don’t think people with that kind of wealth are the enemy, honestly. A million dollars ain’t shit anymore
And if they’re asking how to survive, you cropped that part out of the screenshot
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I think you took a screenshot without the relevant detail you want me to get mad about…
You thought the body was obvious from the truncated headline? Seriously.
The partial headline certainly does suggest they are bragging about their wealth. The “only” is on their debt (Mortgage). If it were about not having enough your would imagine it would be written as “and I STILL owe xxx on my house” and “only have xx in savings”
Only $180,000?
Dude should pay off his home. It’ll appreciate, that savings account won’t.
It’ll appreciate, that savings account won’t.
It depends, high yield savings accounts are getting >5% interest right now. Which could be higher than his mortgage rate.
Mortgage = 2.25% Tbills = 5%
I can attest to this scenario.
what is even your point op?
My finances if I didn’t buy that coffee last week.
I know the feeling man, I got coffee and avocados. I’ll never financially recover from this.
3x? Must not be Wisconsin. Max unemployment here is $370 a week, making 5k 13.5x unemployment.
Edit: I need sleep, read minimum wage as unemployment for some reason.
$1000/week in Washington state. Was nice for 6 months not having to worry. Too bad it took 13 months for me to get a job.
Wisconsin is literally the worst state when it comes to unemployment. Id be dropping from near $7k a month to $1.5k. Without savings I’d be homeless in a matter of months.
Alabama at $275 for 14 weeks seems to be the low mark. Great safety net guys!
I don’t understand two things honestly. The first is why can’t they federalize unemployment, and the second is why isn’t it paid out at a set percentage of your average income over x number of years.
It’s crazy to me that someone who has paid into the system at a higher rate doesn’t have the same level of protection, percentage wise, as someone who has paid in less.
It would be very different if people had a set cost of living, but that just isn’t the case. 275 can be an amount you can live on, however uncomfortably, until you find a job, or it can be… homelessness in a matter of months.
Crazy town.
Seems like you could pay off your mortgage with a chunk of your savings and be better off. Assuming the APR of your debt is more than your savings.
