Why Even High Earners Are Living Paycheck To Paycheck
About 14% of American households make $200,000 or more every year, according to the U.S. Census. But many of them, dubbed “HENRYs,” or High Earners, Not Rich Yet, still don’t feel rich. More than 60% of people with salaries over $300k a year struggle with credit card debt. These figures could be signs of the inescapable nature of lifestyle creep, which is the phenomenon of unconsciously spending more as a person earns more. Watch the video above to learn how those spending habits can leave even high earners feeling like they’re on a never-ending hamster wheel.
0:41: Correction – This video has been updated to reflect that about 14% of U.S. households earn $200,000 or more annually, according to the U.S. Census.
Chapters:
0:00 Introduction
1:52 Getting on the hamster wheel
4:08 Why high earners don’t feel rich
8:35 Getting off the hamster wheel
Credit to : CNBC