Are you Rich Yet? Why Families Still Struggle to Feel Wealthy
Emotional Balance Sheet with Paul Fenner · Paul Fenner
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Show Notes
I came across a Wall Street Journal article about families making over $250,000, putting them in the top 10% of all household incomes in the country, who still don't feel wealthy. One family earning $350,000 (in the top 4%) owns two homes, has three kids in club sports, and can't shake the feeling that they're struggling.
In this episode, I explore why modern life makes it so hard to feel like you have enough. How our standards of living have improved dramatically, but we've just created different problems. Why kids' activities drain families more than almost anything else. And how the real challenge, as Morgan Housel says, is getting the goalpost to stop moving.
This week: Look back at where you started instead of comparing yourself to some moving horizon ahead. Check your household income against national percentiles. You might be surprised how far you've come.
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Resources Featured in This Episode:
They're in the Top 10% of Earners. They Still Don't Feel Rich.