Making $70,000 But Still ‘Poor’? You’re Not Alone

In today’s economy there are plenty of “high-earning poor,” and the number keeps growing. Here’s how to avoid becoming one of them.

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The unemployment rate has been on the decline in recent months, reaching the lowest it has been since 2007. But these numbers can be deceiving. Yes, more people are working, and fewer individuals who had lost jobs are accepting unemployment compensation, but that doesn’t tell the entire story. Behind the glowing news headlines lies the ugly fact that middle-class Americans, after you adjust for inflation, are earning no more today than they did nearly 40 years ago.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Chris Heerlein, Investment Adviser Representative
CEO, Reap Financial Group, LLC

Chris Heerlein, author of "Money Won't Buy Happiness - But Time to Find It," is an Investment Adviser Representative and partner at REAP Financial LLC.