35% Of People Earning Over $250,000 Are Broke - How Money Works #shorts

More than a third of Americans earning over $250,000 per year are now living paycheck to paycheck.

It might be hard to feel bad for people earning four times the median salary it is still a clear demonstration of both lifestyle inflation, and the inherent costs involved in maintaining a high income.

Millennials were the biggest culprits here with 55% of their highest earners having nothing left at the end of the month before their next paycheck.

But don’t be too quick to judge. Almost every millennial earning this much money will be working in tech, finance or oil, three industries that require living in high cost of living areas with equally high state taxes.

It is possible to earn this much money or even more in places like the Midwest, but it will require a role with a lot of experience or starting a business which on average are things best done by people in their 40’s and 50’s.

So don’t be too hard on the high-income millennials, they are doing their best.

#Shorts

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