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Phil Spencer: "getting [acquiring] Nintendo would be a career moment for me"; Nintendo's future "exists off of their own hardware"
(www.resetera.com)
Archive link: https://archive.ph/NF2r0
At some point, getting Nintendo would be a career moment and I honestly believe a good move for both companies. It's just taking a long time for Nintendo to see that their future exists off of their own hardware. A long time.... :-)
Honestly even the idea of an emergency fund, I mean accounting dorks say things like "save six months salary in an accessible, liquid form".
Does anybody really do that? I mean for a middle-class well-educated dual-income household that's probably close to 100k, which we were all recently reminded the limit for bank account insurance.
If you own your home doesn't it make more sense to have a secured line of credit set for emergencies and then ride as close to the wire as you feel comfortable?
Your emergency fund is usually recommended to be 3-6 months of expenses, not salary...though I guess for plenty of people, even at high salaries, that may be the same number, but then you'll never have savings anyway. Really your emergency fund is for however much risk you can tolerate, like if you end up unemployed for 3-6 months, but your emergency fund is for things other than just unemployment, like sudden medical expenses or replacing a water heater. If you're comfortable with a line of credit on your home being your emergency fund, go for it. There's some risk to that, but there's different kinds of risk to everything.
Yes, because otherwise how the fuck can I afford to move apartments when my landlord raises the price by a thousand dollars a month. But also I have no assets so it's my entire savings and I can't put it anywhere because I need it within a year.
So yeah some of us are fucked and the idea that a middle class household would make 100k in 6 months means you have no touch on reality for real wages for lots of people.
Sorry, forgot this was an international community. $100k CAD. So $75k USD. We've the same 100k bank-insurance limit here, but its $100k CAD.
Either way, I know plenty of people who make near $200k of household income and are still fucked because they didn't get into the housing market in time before the door slammed shut (average home in Greater Toronto is now well north of a $million, even with our stupid-expensive interest rates). Like, teachers and realtors make $90k CAD after a few years of experience these days, but that doesn't accomplish much when rent keeps jumping and nobody can afford to buy. Basically the only reason everybody isn't eating cat-food is they're either in a pre-rent-deregulation unit or they bought before it all hit the fan.
Also, side-note: the traditional concept of "middle class" is not the modern expansive definition of "basically everybody who doesn't own either a private jet or live in a cardboard box". That is, somebody who pays rent and has a job that doesn't require grad-school used to be considered "working class". It's just that for some dumb reason we all collectively decided that "working class" was something to be embarrassed about.