Also, someone dropping spending by 10% from $50k/yr spending is dropping $5k. That can easily be that years vacation, going out a little less, cooking different foods, etc... Dropping 10% on a $200k/yr spending is $20k/yr which can be a substantially bigger difference.Turbo29 wrote: ↑Mon Feb 04, 2019 10:05 amWhat if he had to replace an engine on his private jet the same time the house renovation came up?warowits wrote: ↑Mon Feb 04, 2019 9:14 amThe idea that a person of regular means might have a mandatory unavoidable 100k house renovation actually made me laugh out loud. If that is how you use money I can see why retirement with only 500,000 plus social security would terrify you.randomguy wrote: ↑Mon Feb 04, 2019 8:12 amWhat happens when you need to spend 100k to renovate your house due to some health issues that cause mobility issues? What about if you need to cut your housing costs in half? Easy to go from 4k ft to 2k. Going from 1200 to 600 is harder. Or your food budget? Giving up eating out is one thing. Skipping meals is another Going from a benz to a civic is easy. Going from a civic to a bike is hardernaha66 wrote: ↑Mon Feb 04, 2019 8:00 am
No Its the same, its just as easy for me to cut back because I'm use to living on less. Let's say I like to play golf 5 times a month and one of those rounds at a high end course. I just cut back to 3 times with no high end course. Just as someone with 5 million has a 50K a year golf club membership that he drops and then joins a cheaper club. I'm guessing you don't know how families live toward the lower end of the income spectrum.
Sometimes I think someone eating out every night has a harder time cutting back to cooking their own meals than someone cooking their own meals has cutting back by substituting chicken for beef.
Someone who wants to cut spending by $5k in one year can get a few credit card deals or a checking account opening deal and be half way there. a new credit card will do very little to curb $20k.
Maybe the $50k/yr person has it a little easier.