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Even people with a lot of money are in danger of going broke. There’s a big difference between being “rich” and “wealthy.” Is your cashflow high, but your net worth statement low? Do you own your life, or are you do you find yourself, like the man in one of our favorite commercials, “in debt up to your eyeballs”?
This episode will show you the fascinating statistics behind the broke high-income earners across America. Plus, you’ll walk away knowing how to protect yourself from the same fate as you reach financial success.
Research and resources from this episode:
- Financial Order of Operations Online Course
- “I’m in debt up to my eyeballs.”
- The Whiners Who Earn $200,000 and Complain They’re Broke (The Soapbox)
- Most Say Government Policies Since Recession Have Done Little to Help Middle Class, Poor (Pew Research)
- Nine Out of Ten Americans Consider Themselves Middle Class (Smithsonian Magazine)
- How Much Income Puts You in the Top 1%, 5%, 10%? (Investopedia)
- HHS POVERTY GUIDELINES FOR 2021 (ASPE)
- Income and Poverty in the United States: 2019 (US Census Bureau)
- Why Upper-Middle Earners Are Living Paycheck to Paycheck (Investopedia)
- Survey: Credit card debt more common when net worth exceeds $100K (Bankrate)
- You’re spending more on your subscription services than you think (Market Watch)
- Here’s What the Average American Spends on These 25 Essentials (The Motley Fool)
- The Average Saving Rate By Income (Wealth Class) (Financial Samurai)
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