Being poor vs. being broke

kept by eddie nov 21, 25

The piece distinguishes being broke as a temporary financial setback from being poor as a persistent lack of resources and options, arguing that standard advice for escaping broke is ineffective for chronic poverty.

Social Security at 70? Why the Gold Standard Advice Works for Only a Few - The New York Times
The standard advice to delay Social Security to age 70 maximizes benefits for few, as most retirees claim early at 62 due to financial needs or shorter life expectancy.
also on #poverty, #inequality, #personal-finance
Rich Californians Are Finding Creative Ways to Get Ahead of the Billionaire Tax - WSJ
California's proposed billionaire tax is prompting wealthy residents to use charitable giving and vacation-home purchases to reduce their net worth and tax liability.
also on #inequality, #economy
The haves and have nots of the AI gold rush
A Menlo Ventures partner says the AI boom has created a stark divide where roughly 10,000 people have achieved retirement wealth while many software engineers face layoffs and career uncertainty.
also on #inequality, #economy