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Over half of Americans say they're not even close to financial freedom (scrippsnews.com)

submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

23 comments fedilink hide all child comments

About 36% of U.S. adults say they have less than $1,000 in their savings accounts.

For analysis of the political views of that media: https://ground.news/article/over-half-of-americans-say-theyre-not-even-close-to-financial-freedom

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[–] lemming007@lemm.ee 2 points 1 year ago (4 children)

If the respondents are defining "financial freedom" of course they're going to say they don't have it.

I make a decent salary and I would still say I don't have financial freedom.

[–] trudge@hexbear.net 3 points 1 year ago

That's because financial freedom is defined by social safety net (for non-bourgeoisie).

It's not something that you earn as an individual, but achieved as a society.

[–] TheWoozy@lemmy.world 2 points 1 year ago

No matter how much money I have, I won't be financially free until the day I officially RETIRE. As long as I have to work, I'm not free.

[–] 420blazeit69@hexbear.net 2 points 1 year ago

A bunch of people say they do have it, though. A "decent salary" (also self-defined) doesn't guarantee financial freedom because of things like debt, the astronomical cost of healthcare, and the fact that you'll never be able to comfortably retire unless you're a literal multimillionaire.

[–] Turkey_Titty_city@kbin.social 0 points 1 year ago (1 children)

what is financial freedom? like, never having to worry about money?

because even billionaires aren't financially free then.

[–] DragonTypeWyvern@literature.cafe 0 points 1 year ago

Financial Freedom is owning enough capital to not have to actually work.