Inflation may be increasing at a slower pace than expected, the markets might be cheering, and the Fed will likely soon be cutting, but Diane Swonk isn’t popping Champagne.
The veteran economist says the economy “looks better than it feels” because the very data used to measure it is eroding, and the illusion of resilience could shatter heading into the fourth quarter.
“The only groups that feel good about the economy now are making over $200,000 in the surveys and have large stock portfolios,” Swonk said.
Yeah, that’s rough for you now, but once you pay those things off you’re going to be well off
My friend has a family of 6 in SF bay area (one kid in college) and he spends ~120K per year. That’s not abnormal when he has nothing to pay off anymore.
That’s the goal! Unfortunately it’s quite a few years off even if I can keep it up. I’d argue maybe by the time I’m 45-50 and I still have retirement to rebuild.