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Earning $250K Per Year, And Learning How to Not Live Paycheck to Paycheck
There is no shortage of headlines with couples earning over $100k and living paycheck to paycheck. It doesn't have to be that way at all.
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Where are Americans Making Over $100k in a Year?
With the median salary in the US in 2022 set at $70,784 (down 0.5% from $71,186 in 2021), where are Americans making $100,000 or more? From perfectly curated kitchens, social media has a knack for filtering “positive stories,” devoid of inflation and high prices. Nearly 61% of Americans are reportedly living paycheck to credit card debt. The US personal savings rate plummeted to 3.9% in August 2023 (down 0.2% from July). This is well below the decades-long average of roughly 8.9%, especially as debt accumulation rises to record highs. The median weekly earnings of full-time workers in the four months ending December 2022 were $1,050 (less than $53,000/yr). Any amount above…
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Making Sure You Benefit From The Student Loan Cancellations
TFG Crew is back! (And recording the episode again since Lawrence forgot to hit record) On Wednesday, August 24th, President Biden announced a massive student loan debt relief that directly impacts over 60 million Americans who hold an extensive amount of federal student loan debt. We discuss the groundbreaking news, the hidden details, massive opportunities to reengage in your tax planning strategy and more. Opportunities come and go. It comes down to how you play the cards to lower your expenses and increase your wealth.
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Subscribe to the Top 5 Retirement Planning YouTubers Now
With record high inflation and recession looming, retirement planning for most Americans is on the back burner yet again. Surprisingly, seventy-eight percent of Americans surveyed stated that they were either “doing OK financially” or “living comfortably” in the quarter of 2021, according to the Fed’s Survey of Household Economics and Decisionmaking (SHED), an annual poll of how U.S. adults are faring economically. In truth, many are struggling to keep up. Both instances can’t be right? Well Q1 2022 pulled the rug from under our feet. The rise of groceries and gas translates to an extra $5,000 of unanticipated expenses with one place to pull from, retirement savings. Either folks will…
