• AA5B@lemmy.world
    link
    fedilink
    arrow-up
    8
    ·
    edit-2
    2 months ago

    I don’t know, it just goes out faster than it comes in, no matter what you earn. I think it’s usually an accumulation of decisions, not a single poor choice.

    However there’s also high cost of living areas. I’m sure $150k seems like a lot to most people, but around here it would be a struggle to buy even a starter home if that’s all you earned. And renting can easily be more per month than a mortgage so you’re never getting ahead

    Then there’s college. Not only does FAFSA no longer account for multiple kids, but they assume you use all your savings and get loans. One college asked me to reverse mortgage my house, rather than help with financial aid