Wealth and Implications: Why the Wealthy Lack Perspective

[brother_dour]

This is a copy of something I posted to 

Comments

[anonymous]

I think your Case 1 may be suffering from a copy-paste error as the numbers there don't match what you're saying (but do match your Case 2)...

[brother_dour]

Hmm. you're probably right. I had two versions of this that I re-wrote and re-formatted. Thanks for the heads up- Case 1 is definitely in need of fixing. Those values should be a lot lower.

EDIT: aaaaand fixed.

[peristaltor]

Nice. I would posit that the initial expenditure proportions are only recommended, and that the actual proportions are very different for the poor verses wealthy. Ie., somewhere on the line I heard that the poor spend more like 50% of their income on housing related expenses, which is why banks won't touch them for loans (their cut off for house lending is 33% of income in most areas).

It would be interesting to find those actual proportions and do graphic comparisons, though I'm not sure where that info could be found.