#lifestyle-creep

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#high-income-financial-strain #retirement #affluenza #loss-aversion #financial-psychology #cost-of-living
Mental health
from24/7 Wall St.
3 days ago

I wanted to retire at 55 but I kept grinding to get another few million in the bank - why is it so hard to quit?

High earners often struggle to stop working because rising income, lifestyle creep, loss aversion, and attachment to accumulating wealth make retiring psychologically difficult.
US news
fromFortune
4 weeks ago

Four in 10 workers earning more than $500,000 a year are living paycheck to paycheck-and 'lifestyle inflation' is keeping them broke | Fortune

Significant shares of high earners—41% ($300k–$500k) and 40% (>$500k)—report living paycheck to paycheck due to lifestyle inflation and rising costs.
Mental health
fromBusiness Insider
2 months ago

I have a 6-figure job and $25,000 in credit card debt. I fell victim to lifestyle creep, and inflation doesn't help.

A 27-year-old marketing professional carries $25,000 in credit card debt despite a six-figure salary due to lifestyle creep and new expenses.
from24/7 Wall St.
2 months ago

Should I buy a $75,000 Tundra with my $100,000 salary and $60,000 in savings?

Just because you make a six-figure annual income doesn't mean you should blow it. Indeed, we've heard countless stories about high-earning folks who still manage to live paycheck to paycheck. Lifestyle creep, big splurges (perhaps to deal with being burnt out at the office), and a lack of budgeting are all factors to blame for high-earning individuals who can't quite seem to get ahead financially.
Business
US news
fromFortune
4 months ago

A quarter of Americans now say they need to make at least $150,000 to feel secure-and inflation is largely to blame

Most Americans feel financially insecure, requiring higher incomes than the median salary to feel stable.
Retirement
fromBusiness Insider
5 months ago

We thought we'd planned for a successful early retirement - but we're picking up side hustles just a few years in

Early retirement can still pose financial challenges despite good planning and savings.
Unexpected expenses and lifestyle changes can impact retirement budgets significantly.
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