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Money Can't Buy Happiness... or Can It?
Ever wonder why some folks pulling in a quarter million a year still don’t feel rich? Well, you’re not alone! We’re diving into the quirky world of affluence and anxiety, where being in the top 10% of earners somehow doesn’t equate to feeling financially secure. It’s like being on a rollercoaster—you’re high up, but the ride can be a bit dizzying! With soaring costs for housing, college, and insurance, even a hefty paycheck can feel like it’s slipping through your fingers faster than a bar of soap in the shower. So, grab your favorite snack and settle in as we explore this strange phenomenon of feeling rich but living squeezed!
Takeaways:
- Even if you earn a quarter million dollars a year, you might not feel rich.
- Rising costs of living can quickly eat up even the most generous paychecks.
- The more money you make, the more you tend to spend, leading to financial anxiety.
- Being affluent but feeling financially squeezed is an oddly common experience these days.
- A surprising number of high earners still report feeling anxious about their finances.
- Despite being in the top earners, many families feel house poor and pressured.
Links referenced in this episode:
Companies mentioned in this episode:
- The Wall Street Journal
- James A. Brown
Transcript
When rich doesn't feel rich.
Speaker A:This is commentary from James A.
Speaker A:Brown.
Speaker A:They're in the top 10% of earners, but they claim they don't feel rich.
Speaker A:We're talking about households making around a quarter million dollars a year.
Speaker A:Yeah, that number sounds huge to me, and I bet to you, too.
Speaker A:And on paper it definitely is.
Speaker A:But here's the thing.
Speaker A:Soaring costs for housing, college, insurance and borrowing can chew through even a fat paycheck in a thick bank account.
Speaker A:And even with that paycheck, something else happens.
Speaker A:A bigger lifestyle.
Speaker A:Don't you think that's part of it.
Speaker A:You don't just earn more, you spend more.
Speaker A:Like Biggie Small said, more money, more problems.
Speaker A:So you end up with families who look rich but house poor, feeling squeezed.
Speaker A:The Wall Street Journal put it plainly.
Speaker A:These people know they're lucky compared to you and me, but they still feel the pressure.
Speaker A:Strange place to be, don't you think?
Speaker A:Affluent but anxious.
Speaker A:Well, hey, guys.
Speaker A:Welcome to the club.
Speaker A:So what do you think?
Speaker A:How much money would it take to make you feel comfortable?
Speaker A:Let me know in the comments and learn more@jamesabrown.net or on that note, I'm James A.
Speaker A:Brown, as always.
Speaker A:Be well.
Speaker A:Now what.
