Which is a bit over 3 years of saving up every penny of the average wages where I live. If you subtract the average rent and starvation rations from that income, you’re up to 5.5 years. The first info I could find on google (from 2018) claims the average person here saves around $100 monthly, which gives you over 40 years of saving. This is only for one person. If you have multiple children, a SO, etc., that starts ballooning quickly. This is in a country which while not yet classified as developed, is almost there (Poland).
50k is a lot for pretty much most of the world. It’s the cost of a not very nice flat (i.e. middling location, or bad condition) here.
Depends where. Which is the whole issue. For the US average wage, yes. For non US people no. I agree that it’s a matter of priorities. But it’s also a matter of earnings minus costs. Both of which depend a lot on where you live.
A lot of people certainly could save a lot more. But usually at the cost of quality of life. You could say that they should work a job that pays more, or live somewhere where there is a lower cost of living, but both of those can be hard.
I’m not saying you’re wrong that it’s doable. The problem is that the feasibility is highly dependent on your circumstances (same as e.g. having an electric car or whatever), which can make it very hard for people who aren’t in affluent places.
Which is a bit over 3 years of saving up every penny of the average wages where I live. If you subtract the average rent and starvation rations from that income, you’re up to 5.5 years. The first info I could find on google (from 2018) claims the average person here saves around $100 monthly, which gives you over 40 years of saving. This is only for one person. If you have multiple children, a SO, etc., that starts ballooning quickly. This is in a country which while not yet classified as developed, is almost there (Poland).
50k is a lot for pretty much most of the world. It’s the cost of a not very nice flat (i.e. middling location, or bad condition) here.
$100 per month of savings is incredibly low for average earnings. About 2%. It’s a matter of priorities.
Depends where. Which is the whole issue. For the US average wage, yes. For non US people no. I agree that it’s a matter of priorities. But it’s also a matter of earnings minus costs. Both of which depend a lot on where you live.
A lot of people certainly could save a lot more. But usually at the cost of quality of life. You could say that they should work a job that pays more, or live somewhere where there is a lower cost of living, but both of those can be hard.
I’m not saying you’re wrong that it’s doable. The problem is that the feasibility is highly dependent on your circumstances (same as e.g. having an electric car or whatever), which can make it very hard for people who aren’t in affluent places.