Are you better off than you were pre-pandemic?
- Thread starter swagsurfer02
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I was in a pretty good place pre-pandemic, kept my job and paycheck, and now things have continued pretty much on the same course. Inflation has stung a little bit, but I'll get over it and it looks like we are 2 or 3 years away from extremely viable electric vehicles. Getting rid of a car gas bill will more than make up for whatever inflation has cost me, particularly because aside from food, gas is the thing "inflation" has hit the hardest.
How does outstanding credit card debt compare/correlate to this data? Believe I've seen a number of reports of unprecedented debt levels with credit cards since the pandemic hit too.
Would 10% more in cash actually be a net positive given inflation btw?
Would 10% more in cash actually be a net positive given inflation btw?
Yes definitely. While not ignoring all the deaths, emotional trauma and stunted learning among the youth, there were some good things that came out of covid.... primarily work from home for white collar America.
That was/is huge.
That was/is huge.
You’re right, they are only talking about financials here. I asked the same question on the main board (the differences between the two boards are great and it gives you move of a view from just Iowa and some of our FSU folks). One guy mentioned his children struggling in school and they haven’t fully made a recovery yet
I have a better job, with better pay, a couple wfh days, and more money in retirement accounts and savings. Just moved to a brand new house. Also just passed a big professional exam that my new job paid for.
So…yes
So…yes
Just going into the office Tuesday and Thursday now, versus M-F pre-pandemic, is saving me ~$100/week.
I'm much better off now, but that has little to do with the pandemic. I was fortunate in that it had very little negative impact on my life. Also, pre pandemic I was just getting my newest business venture off the ground and the fruits of that labor are beginning to pay off in a big way now.
Yes. However, I’m in healthcare staffing. Staffing agencies had record profits on 2021 and 2022. This year however is a different story. Down 30% YOY. A lot of people made some serious bank off the backs of hospitals, insurance companies and the govt. which is all paid for by the US tax payers, insurance premiums and rising healthcare costs.
S&P 500 is up about 35% since Feb 2020. If you're not better off financially, that's on you.
M2 is more than 35% higher than it was pre-pandemic. This is due to R's and D's. I am not attacking Biden. Objectively speaking everything needs to be put into the context of M2
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Why does the total money supply even matter to an individual and their financial situation? I was actually wrong to just mention the S&P returns. There are some people that lost businesses to the pandemic and they would be worse off.
I said minimal change but that’s in conjunction with where we thought we would be 3 years ago. We would be in the exact same position financially.
If comparing our individual financial circumstances pre-pandemic to now, then net worth should have increased by an equivalent amount (all other things being equal). Obviously, not all others were equal. Thus, is is just a baseline for comparison purposes. At least that is the way I see
Some of us are watching M2 very closely as a data point for a recession being more or less likely.
- Sep 13, 2002
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Yes. I made more money during the pandemic. I got a lot of company perks and gifts too. Apparently, I was on the front lines of it all. 😂
Well, they made it really hard to spend money during the pandemic so I would hope many people saved more in 2020-2021.
To your point, our 2.75% interest rate secured by the mortgage is nice to have…
Which one is M2 again? Is that where we number them based on our ranking or the other whacky method that makes no sense?
Credit card debt since the pandemic makes sense though. Everyone was getting free money and doing nothing. Now the money from the government stopped and things in the last 1.5 years cost a lot. Americans were Americans and charged up their credit cards.
I am in about the same shape financially as I was pre-pandemic.
But, my father died of Covid, and I was hardly able to even see him in the last 6 months of his life due to nursing home quarantines. My grandson spent most his first 2 years of life at home - away from other children due to safety concerns.
Remote schooling has had to had an impact on childhood social and intellectual development. And, I'm not convinced that "work from home" is a great thing long term.
It also served to further divide this country.
I voted no.
But, my father died of Covid, and I was hardly able to even see him in the last 6 months of his life due to nursing home quarantines. My grandson spent most his first 2 years of life at home - away from other children due to safety concerns.
Remote schooling has had to had an impact on childhood social and intellectual development. And, I'm not convinced that "work from home" is a great thing long term.
It also served to further divide this country.
I voted no.
Is it? Can you type it in and share the results? M1 vs M2.
I get a bunch of results about the Apple chips.
A
anon_b29nm7v7dwp6r
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Yep. I will say we have no plans to buy anything new at any point in the near future with rates being so much higher now….but money wasn’t going to be nearly “free” to use forever.
We timed it very well with our last move.
- Sep 13, 2002
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To answer the original question, I'm better off now than I was pre-pandemic. I make more, my 401k and savings are bigger, I get to work remotely now, and I can now hire people from anywhere in the country vs being restricted to the local area. Prices are higher for groceries but I don't need to drive to work every day so I save on gas and car maintenance.
Hell yeah. I got all that Covid money doctors were getting by putting Covid on death certificates when they only died "with" Covid. So much I swim in it like Scrooge McDuck.
/Sarcasm. And the fact anyone believed it further shows how stupid this country is.
/Sarcasm. And the fact anyone believed it further shows how stupid this country is.
