Over the past 20-30 years, what changes have occurred that now make it necessary for many households to have two incomes to stay afloat?
In: Economics
The cost to send your kids to colleges has soared.
The security of pensions after retirement have vanished.
And the loss of multigenerational homes makes having a large retirement savings necessary. In order to pay for assisted and nursing care elderly living.
All of which necessitates starting saving and investing for your kids college, your retirement, and to buy and build home equity as early as possible these days.
And it’s difficult to have enough money left over from saving for these future needs to live a comfortable middle class lifestyle in the between years. You want a yearly destination vacation? You want three sport leagues a year for your kids? A week or two at summer camp? That adds up fast.
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