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> I always wonder what proportion of that group is due to insufficient income

According to the Social Security Administration [1]:

2017 Average net compensation: 48,251.57

2017 Median net compensation: 31,561.49

The FPL (Federal Poverty Level) income numbers for Medicaid and the Children's Health Insurance Program (CHIP) eligibility [2]:

>> $12,140 for individuals, $16,460 for a family of 2, $20,780 for a family of 3, $25,100 for a family of 4, $29,420 for a family of 5, $33,740 for a family of 6, $38,060 for a family of 7, $42,380 for a family of 8

Wages are not keeping up with corporate profits. That can't all be due to automation.

The minimum wage is only one factor linked to price inflation. We can raise wages and still keep inflation down to an ideal range.

Maybe it's that we don't understand what it's like to live on $12K or $32K a year (without healthcare due to lack of Medicaid expansion; due to our collective failure to instill charity as a virtue and getting people back on their feet as a good investment). How could we learn (or remember!) about what it's like to be in this position (without zero-interest bank loans to bail us out)?

> and what proportion is due to terrible financial literacy.

The r/personalfinance wiki is one good resource for personal finance. From [3]:

>> Personal Finance (budgets, interest, growth, inflation, retirement)

Personal Finance https://en.wikipedia.org/wiki/Personal_finance

Khan Academy > College, careers, and more > Personal finance https://www.khanacademy.org/college-careers-more/personal-fi...

"CS 007: Personal Finance For Engineers" https://cs007.blog

https://reddit.com/r/personalfinance/wiki

... How can we make personal finance a required middle and high school curriculum component? [4]

"What are some ways that you can save money in order to meet or exceed inflation?"

Dave Ramsey's 7 Baby Steps to financial freedom [5] seem like good advice? Is the debt snowball method ideal for minimizing interest payments?

[1] https://www.ssa.gov/OACT/COLA/central.html

[2] https://www.healthcare.gov/glossary/federal-poverty-level-fp...

[3] "Ask HN: How can you save money while living on poverty level?" https://news.ycombinator.com/item?id=18894582

[4] "Consumer science (a.k.a. home economics) as a college major" https://news.ycombinator.com/item?id=17894632

[5] https://www.daveramsey.com/dave-ramsey-7-baby-steps




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