sean99
pfm Member
https://www.vox.com/the-goods/22673605/upper-middle-class-meritocracy-matthew-stewart
This hits VERY close to home for me. I'm almost certainly in the top 10%, but still do not feel secure. I live a pretty modest life, but worry that my daughter will lead a life of poverty on account of her learning disabilities. I'm one of life's winners, but it sure doesn't feel like it, because the healthcare system and lack of social safety net means that financial advisers will tell you that a couple needs $2 million to have a secure retirement, and be able to pay their medical and care bills.
I live in a town that he describes - over parented, over-achieving kids, mostly headed to prestigious colleges, but as much as it's an achievement it's a necessity, because there is no longer a middle class, and failure to get a good degree means a high possibility of a life of financial vulnerability.
The book was written about the US, but I suspect it's pretty true for the UK (though you don't have our awful, parasitic healthcare system). Even if you are a winner, unless you're in the 1% and have no conscience and no kids you're not really a winner.
Ugh - how to fix it ? Clearly NOT voting Republican / Conservative is a necessary pre-requisite, but also clearly not sufficient.
This hits VERY close to home for me. I'm almost certainly in the top 10%, but still do not feel secure. I live a pretty modest life, but worry that my daughter will lead a life of poverty on account of her learning disabilities. I'm one of life's winners, but it sure doesn't feel like it, because the healthcare system and lack of social safety net means that financial advisers will tell you that a couple needs $2 million to have a secure retirement, and be able to pay their medical and care bills.
I live in a town that he describes - over parented, over-achieving kids, mostly headed to prestigious colleges, but as much as it's an achievement it's a necessity, because there is no longer a middle class, and failure to get a good degree means a high possibility of a life of financial vulnerability.
The book was written about the US, but I suspect it's pretty true for the UK (though you don't have our awful, parasitic healthcare system). Even if you are a winner, unless you're in the 1% and have no conscience and no kids you're not really a winner.
Ugh - how to fix it ? Clearly NOT voting Republican / Conservative is a necessary pre-requisite, but also clearly not sufficient.