Originally Posted by
justakiwi
Maybe those who were on high incomes and now find themselves unemployed, will have to make some sacrifices to help themselves. Maybe they will need to rethink their $600,000 house/$300,000 mortgage, two BMWs in the garage, and the annual overseas holiday. I am not being judgmental or nasty. I am just pointing out, that those at the top end of the “standard of living” bracket, have some room to prune costs. Sure, their $585/week job subsidy payment or unemployment/accomodation assistance might be a shock to their system, but at least they have the ability to downsize to free up capital and/or reduce costs.
It would be interesting to know how many high income people have income protection insurance. Those earning six figure incomes probably need it more than the rest of us, to ensure they can maintain their higher standard of living if they lose their job.