High income people can be terrible with money, but they also can make changes that people with far less income can't make to fix it. When 50%+ of Americans have no savings and the average American has a small retirement account it is a huge problem. Most are just trying to get by every month. Call it envy or reality.
We agree that it’s a huge problem.
But it’s a problem because people don’t save. The only barriers are ignorance and discipline.
Addressing it through education, improving financial literacy, would be helpful.
I would feel a lot more empathy for those “just trying to get by” if they didn’t have newer cars than I do. Most folks “just trying to get by” have atrocious spending habits, and make big financial mistakes.
If someone “just trying to get by” is driving a 20+ year old Ford, with roll up windows, no AC, no power steering, and drum brakes, like I did, decades ago, in order to have enough money to invest, then I would have a lot more empathy.
Most Americans “just trying to get by” actually have incredible wealth, and live in incredible luxury, compared with the rest of the world.
They have bought the message that they “deserve” or “need” those luxuries, and the pernicious lie that their failure to exercise financial discipline isn’t their fault.