Ask HN: What is really wrong with the US economy, really?

I'm not sure if I agree that your grandparents were under less pressure in their jobs. Overall, I think life is far easier today than it was 50 years ago, at least for most workers.

It sounds like you're doing better than 99% of people. Six figure income, no huge expenses. I think the question isn't 'what's the problem with the economy' - really the question should be 'what's the problem with our expectations?'

I think for all of human history the Joneses have looked more financially comfortable and happy than they really are. Perhaps the comfortable people you envy are not as comfortable as they appear. Or maybe comfort is more a state of mind than a state of finance.

Those are my two cents, at least. I'd be happy to hear more about your situation and where you're coming from.

Watch "Kaiser Report" and u will find it.

SPOILER "quantitative easing"

What'd your great grandparents do for entertainment? Probably the radio, some TV, read some books, play cards. Speaking of TV, how'd they get it? Most likely over the air. Phone? Yeah, they had a land line, but they weren't dropping $100+ for a cell phone. Internet? Of course not. House? Probably about 1200 square feet or so, and they likely had more than 3 kids to occupy it. The rest of the world? A recovering war-torn mess that needed to rebuild itself before it could even start to compete with the US economically. What about the car? They probably had one or two, but you could fix them without needing specialized gear.

What about the food they ate? It was likely whole foods, which would lead to lower rates of heart disease and obesity. And if they lived in a rural area or subdivision, they likely grew some of their own or bought it from local farmers.

My grandparents never borrowed a dime from a bank. They owned a house, two vehicles, and raised 5 children. Their vacation was a week every summer at a rental cabin about 3 hours away. They didn't get cable until the mid 90s and never got the internet or a cell phone. How much money could you save if you never owed anyone interest and spent 20 dollars a month for communication?

As Beached says [1], this is all about your attitude, and how you're choosing to live in the world.

Remember, you live in the consumption capital of the world. More than ever, you're being bombarded from all sides at all times with ingenious advertising designed for the sole purpose of separating you from your money. Even your friends, family and colleagues are constantly encouraging you to spend more and more, even when they don't know they're doing it. You've been lied to your entire life - you've been told that spending ever-increasing amounts of money will make you happier and "better off" and it's plainly not true.

Why do companies advertise stuff? Solely to further their own agenda. It's not about you.

I just finished reading "Your Money or Your Life" [2] - an excellent book that walks through the steps needed to break out of the cycle you're stuck in. It's a little self-helpy, but the message is great, and if you follow the steps they outline, you'll absolutely be completely financially independent and won't need to go to work if you don't want to. Of course, you can if you do want to.

The tldr; is very simple - stop consuming so much stuff you don't need that isn't making you any happier, at which point you'll find you earn more money than you need, so you can work less and focus more on the things you want to, then you'll spend even less, etc. etc. etc. The amount of money you spend is directly related to the amount of time you must go to work. Spending is not what you want to be doing.

Find the things that make you happy, and focus on those. Spending money does not equal happiness, so stop playing that game.

From my personal perspective, I highly, highly, highly recommend taking a couple of years off to figure out what actually makes you tick. I spent two years driving Alaska->Argentina because I wanted to, and another friend that is unemployed right now has never been happier and more in touch with herself in her entire life. The first couple of months feel strange and awkward and lazy, etc. After a while, you become so busy with what makes you happy you can't imagine how you ever found time to go to work. Once you have that perspective, it's doubtful you'll feel happy consuming, because every time you do that, you have to work more.

[1] https://news.ycombinator.com/item?id=7315456

[2]http://www.amazon.ca/Your-Money-Life-Transforming-Relationsh...

EDIT: Just for fun, do an audit on how much you spend month-to-month. Include every single cent that you pay out. Cable, Internet, Cell phone, gas, car insurance, food, groceries, snacks, clothes, shoes, transport, entertainment, vacations, personal grooming, lifestyle things, etc. etc. etc. I guarantee you'll be shocked at how much money you're spending on crap you don't need, and didn't consciously know you were spending it on. I make a fraction of what you make, and I'm saving more than I ever have in my life, simply by being extremely conscious of all the crap I don't need to spend money on.

I agree that many things are probably wrong with our economy that are affecting you. But what you said doesn't add up to me. Maybe there are many things chipping away at your wealth which you haven't been accounting for?

If $110k is your take-home (after taxes), you are single, and your expenses are so low, it seems you could be saving quite a lot. I know many people with similar income and expenses, and they save tens of thousands per year. This allows them to spread savings across IRAs, mutual funds, and regular savings accounts to build wealth.

Perhaps like many who make a ~100k range salary, you pay upwards of 30% of it to taxes? This is a huge chunk.

You drive; are you sure you haven't spent more on gas than you have on dental? You mentioned dental as your third biggest expense in the last two years. This seems unusual. Gas, food, and other common expenses often make up for a large portion of total expenses.

If your medical and dental expenses are that high, that's unfortunate. But you say you have some decent savings, so good for you! That shows you have the financial strength to make it through tough medical situations :)

If you have more savings than most people you know, maybe you shouldn't be feeling so pressured. Most people aren't "making it" because they have no savings--but you are!

Having debt is a common reason for feeling financially stressed. If you have debt, see a debt counselor or financial advisor and create a plan to get rid of it, fast. They may advise you to use a chunk of savings for eliminating debt.

You say you eat out "some of the time". Most people I know say that, and they mean "at least one meal per day". This is not good for your finances! I personally increased my monthly savings by 50% once I limited my takeout to once per week, cooking the rest of my meals myself.

Lots of times it helps to have a financial advisor. If you do this, spend plenty of time finding a good one who you're comfortable with, who listens to your concerns, etc.

Bottom line: track down where that $110k is disappearing to! You should feel comfortable at that salary. Especially over time, as you save and build wealth!

Hope this helps, or at least gives you some ideas.