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this post was submitted on 23 Jan 2024
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I also realize I suffer from lifestyle inflation, but …… the reason I don’t feel well off compared to my previous self is I’m still just a few paychecks from losing it all. If I lost my job, I lose it. I’ll have to cut way back, struggle to keep house and car, and will be anxious until I get another job.
I’ve read that feeling well off is having enough savings so you don’t need to worry about keeping your lifestyle in case anything happens. I don’t
Warren Buffet is a great example for this question because he does live modestly for one of the richest people in the world. If he lost his job/company, he could still support his lifestyle and obligations well beyond his life expectancy. So yeah, what is his motivation?