An interesting take from Matt Bruenig is that if you look at the “six figures doesn’t go as far as you think” genre, you almost always see one or more of:
* Saving for retirement
* Saving for college or having a kid in college
* Having young kids and paying for daycare or losing an income
* Dealing with a health crisis (while not currently a full time employee at the kind of corporation that has great insurance… even if at other times you were or you will be again)
* Caring for an aging parent
These are all significant financial stressors even to the upper middle / professional class in America, whereas in a strong social benefits environment none of them are a big deal at all. The idea that middle class families need to stand up to all all these costs personally, sink or swim, is not necessarily pro-middle-class.
Like, why is it so important to own a house? One reason is so that you could sell it or otherwise tap the equity in case you have to do something ruinous like go to the hospital while between jobs. Another is that the apartments are all in neighborhoods overrun with untreated mentally ill people. Both of these are self-chosen problems.
* Saving for retirement
* Saving for college or having a kid in college
* Having young kids and paying for daycare or losing an income
* Dealing with a health crisis (while not currently a full time employee at the kind of corporation that has great insurance… even if at other times you were or you will be again)
* Caring for an aging parent
These are all significant financial stressors even to the upper middle / professional class in America, whereas in a strong social benefits environment none of them are a big deal at all. The idea that middle class families need to stand up to all all these costs personally, sink or swim, is not necessarily pro-middle-class.
Like, why is it so important to own a house? One reason is so that you could sell it or otherwise tap the equity in case you have to do something ruinous like go to the hospital while between jobs. Another is that the apartments are all in neighborhoods overrun with untreated mentally ill people. Both of these are self-chosen problems.