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Middle-class lifestyle out of reach for those making six figures

May 06, 2024 - businessinsider.com
The Insider Today newsletter discusses the struggles of the middle class, even among those earning six-figure salaries. The report highlights the increasing difficulty of achieving a middle-class lifestyle due to rising costs of living, particularly in expensive cities, and the impact of inflation on daily purchases. The newsletter also covers the latest news, including comments from Warren Buffett on AI, the top early-stage investors, and the challenges faced by Workday, a workplace software.

In other news, the newsletter mentions the rising prices in the fast-food industry, the complex drink offerings at Starbucks, and the upcoming announcement of this year's Pulitzer Prize winners. It also notes the Met Gala event happening in New York. The newsletter ends with a reminder for readers to sign up for daily updates and access to personalized content.

Key takeaways:

  • Many people earning six-figure salaries feel that a middle-class lifestyle is not achievable for them due to rising costs of living and inflation.
  • Location plays a significant role in the cost of living, with cities offering more job opportunities often being more expensive to live in.
  • Warren Buffett raised concerns about AI during Berkshire Hathaway's annual shareholder meeting, comparing it to the atom bomb.
  • Despite widespread dislike, over half of Fortune 500 companies continue to use WorkDay due to its benefits outweighing its drawbacks.
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