Despite making over $135K, 1 in 5 high-earners feel ‘depressed’ when thinking about their finances—they may have ‘money dysmorphia’ |
Despite making over $135K, 1 in 5 high-earners feel ‘depressed’ when thinking about their finances—they may have ‘money dysmorphia’
For generations, workers have been fed the promise that six-figure salaries come with luxe lifestyles, career prestige, and financial freedom. However, even high-earners are feeling the pinch in a global cost-of-living crisis—and a six-figure salary no longer buys the peace of mind it once did.
Nearly seven in 10 Americans earning over $135,000 annually aren’t financially fulfilled, according to new Gallup research from financial services firm Edward Jones.
Even 77% of those bringing home $135,000 to $174,999, and 63% of those earning over $175,000 aren’t satisfied with their financial situation.
And money morale has been dropping across the board: about 55% of Americans say their finances are getting worse, following a multi-year trend. Around 83% of professionals overall—accounting for about 216 million Americans—report experiencing financial stress, strain, or uncertainty.
Why the wealthy are stressed about finances: ‘money dysmorphia’ and a lack of control
“Financial fulfillment is not just defined by income and net worth,” Ashley Agnew, a certified financial therapist and behavioral scientist at Edward Jones, tells Fortune. “It’s about combining the security it provides with personal alignment and a feeling of control that leads to a confident relationship with money.”
Finances often float to the top of people’s biggest concerns, leaving room for anxiety to creep in.........