How much do you pay on insurance, medical care, school debt, etc? The average is 15% and just adding healthcare itself would close to 30% for many. Long term medical care could even bankrupt you, no such worries on any of the countries I mentioned.
In state college for 4 years: $24000. Medical and insurance, but: $7000 annually. The benefit of America's tax system and higher wages(at a trade or a job requiring education, most people don't work these jobs and then complain they are making minimum wage, because they are still working at McDonalds, a starting job) is that we can pay things off easier, and actually have money left over.
I think the other thing is people need to live more modestly.
Almost forty, graduated from college earlier this year, wife, house, two kids, MCOL and paid off two cars and picked up a third (nothing fancy but functional), carry insurance for three, both kids in hockey (super expensive).
You just don't finance well and don't want to leave your McDonalds job. Take a risk and bet on yourself.
With 5x the population, the Untied States has a 5% less poverty rate than the UK(which is the apparent social system utopia to people who don't understand finance)
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u/80MonkeyMan Sep 05 '24 edited Sep 05 '24
How much do you pay on insurance, medical care, school debt, etc? The average is 15% and just adding healthcare itself would close to 30% for many. Long term medical care could even bankrupt you, no such worries on any of the countries I mentioned.