So, when we get advice from financial experts over how we should be spending our money, and it makes absolutely no sense here in Orlando, then it’s frustrating.
Take the chart included in this post from CNBC and Acorns. We’ll start with income.
It says you should be taking home $5,000 a month, after taxes. In Orlando that’s not possible for many individuals. That’s not possible for some couples. Our economy isn’t diversified enough.
Their advice is broken already.
Next, lets look at the price of rent. You’re not paying $1,000 anywhere. These days that’s even a stretch for a studio. Look it up. We don’t pay gas, so we’ll give them a pass on the under pricing of the utilities.
They also assume we have an extra $650 laying around. We can’t give them a pass on that. That’s terrible.
Perhaps the real lesson here is that some of these financial experts are out of touch and don’t know how to fix the Orlando economy.
It also doesn’t help that Orlando elected leaders, Orlando real estate, and Central Florida employers don’t want to change.
Our local economy is broken and we continue to struggle.
And under this kind of philosophy that we’re seeing with this advice, “experts” are also out of touch.
You have to shrink the income and increase the rent for this to apply to Orlando and then that breaks this model, making it useless.
And when you don’t have any good advice to give your community, you’re in bad shape.