How is everyone not completely freaked out about money all the time?

The government will take care of you. Stop worrying. Stop working. Stop thinking.

Sales! wrote:

I have 50k in savings and 40k in retirement and no debt and it's basically all I ever think about and I'm pretty sure I'm doing much better than most Americans - how is everyone not just collectively on the brink about being a few paychecks away from poverty?

You sound more intelligent than most Americans. This is a blessing and a curse.

How old are you?

A Dogs Dawg wrote:

How old are you?

Late 20s

I think that for most people, it is more of a gnawing worry than something that causes people to freak out. I have a modest degree of security (my financial picture is probably the equivalent of sub 15:20 5000m - pretty good compared to the lay person, pretty damn far from world class), and it is something that I think about often, but truly worry about infrequently.

I've wondered this myself. I think it comes down to personality. Also, if you're in debt up to your eyeballs why not just keep drowning in it until someone forces you to do otherwise. College campuses are a good example of this. You'll see students who have massive loans yet have the newest phones, shoes, clothes, watches, etc.

It's just a matter of establishing good habits and doing your best to stay on a good path. At that point, worrying doesn't help much.

Save well, take reasonable investment risks, use debt prudently, insure yourself properly, maximize your earning potential, always have some backup plans, avoid making large bad decisions.

FWIW, I think you'll worry less as you get a bit older.

That's just numbers and a state of mind.

How is everyone not completely freaked out about potentially getting in a car accident all the time?

We have such faith in the cars mechanics and that drivers won't cross the line and veer into you.

And that's real pain compared money concerns.

Funny post!! We're less than a year away from another crash, similar to 2008 x 2 you're money will be worthless. Do you own gold? Why do you think countries like Russia and China and even some states, here in the most glorious nation in the history of stupidity are hoarding gold? The Central bank is on the edge of crashing hard.

Good luck

You think gold is the answer? If the market implodes to the point national collapse, I'd be more interested in a hoard of bullets, water and dry food. If the market simply tanks, history has shown it will rebound. I'll stick with my investments.

You have 90k squirreled away in your 20s & are constantly anxious about money??I feel sorry for you that this worries you - sound like you're in for a life of anxiety & stress, maybe see a psychologist?

Sales! wrote:

I have 50k in savings and 40k in retirement and no debt and it's basically all I ever think about and I'm pretty sure I'm doing much better than most Americans - how is everyone not just collectively on the brink about being a few paychecks away from poverty?

Don't worry wrote:

It's just a matter of establishing good habits and doing your best to stay on a good path. At that point, worrying doesn't help much.

Save well, take reasonable investment risks, use debt prudently, insure yourself properly, maximize your earning potential, always have some backup plans, avoid making large bad decisions.

Yup. All of this. It's a habit.

Plus, as you get older, maybe you not only worry less, but you have made some mistakes in life (financial and otherwise) and learned that you can recover from them. Helps you keep perspective.

Sales! wrote:

how is everyone not just collectively on the brink about being a few paychecks away from poverty?

There are a lot of Americans that are one paycheck away from poverty.

How do you even live that way? Being completely freaked out about money all the time is my idea of hell. Honestly I'd be happier poor than I would be if I had money but constant anxiety about it. It's not worth it being a slave to money.

The things that keep me anxiety-free are:

1. I have a tight knit family and friends who I know would be there for me if I ever fell on hard times. Likewise I will always be there for them. Not likely I'd ever need their help, but just knowing they're there gives me peace of mind.

2. Living simply, keeping expenses low, and finances simple. I'm very content renting a small house and driving an old ugly (but well maintained) car. I know I don't need lots of money to be happy.

3. I have confidence in my talents and intelligence and in a worst case scenario if all my career ambitions were to fail I know I'd be great at a low paying blue collar job enough to make ends meet. Might even enjoy it too.

Ray Zur wrote:

Funny post!! We're less than a year away from another crash, similar to 2008 x 2 you're money will be worthless. Do you own gold? Why do you think countries like Russia and China and even some states, here in the most glorious nation in the history of stupidity are hoarding gold? The Central bank is on the edge of crashing hard.

Good luck

It wasn't but a few years ago I heard several people saying that last year was the year of the crash, or the year before that, or the year before that. Yes, the market will eventually have a correction, but you're certainly not going to predict it. And even if you do, it's only because you're constantly predicting something that which will eventually happen.

Simple, you work you get paid. The end.

Wife and I make decent money and have maybe 500k in retirement accounts. If everything crashes we will just do something else. It's just a house. Consolidate what we have into a flipping camper and see what else is out there. Unless computers or medical field goes away, my wife and I will eventually find other employment.

I'm with you. I really don't get how my siblings (who make decent money but do not save any of it) aren't freaking out. Wife and I are mid 30's with $350k in savings, probably $250k in retirement and we've only just now started to relax a bit. To them though, proving they have money to their friends is more important than actually making sure they're protected.

Sales! wrote:

I have 50k in savings and 40k in retirement and no debt and it's basically all I ever think about and I'm pretty sure I'm doing much better than most Americans - how is everyone not just collectively on the brink about being a few paychecks away from poverty?

Masz 30k in savings and 35k in retirement. The reason that I don't freak out, can be summed up in one word: Powder