Max Heninger, a father and affordable housing developer in the Bay Area, illustrates the financial struggles faced by many high earners. Facing substantial student loans and high childcare and housing costs, Heninger emphasizes that despite earning a six-figure income, the cost of living leaves little room for savings. Many parents in similar situations prioritize experiences over college funds for their children, highlighting the financial pressures that accompany living in high-cost areas, even for those who are considered "high earners" on a national scale.
If you just look at what a lot of upper earners make in the Bay Area, you're considered very high income in the national context, but you may not feel that way because the cost of living, mainly housing, is so expensive.
We are going to be paying off our student loans for at least another decade, so in a way, it's like the reverse of saving.
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