#lifestyle-creep
#lifestyle-creep
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#personal-finance #overspending #budgeting #high-income-financial-strain #hedonic-adaptation #no-buy-lists
Mental health
from24/7 Wall St.
2 months agoI wanted to retire at 55 but I kept grinding to get another few million in the bank - why is it so hard to quit?
High earners often struggle to stop working because rising income, lifestyle creep, loss aversion, and attachment to accumulating wealth make retiring psychologically difficult.
US news
fromFortune
3 months agoFour in 10 workers earning more than $500,000 a year are living paycheck to paycheck-and 'lifestyle inflation' is keeping them broke | Fortune
Significant shares of high earners—41% ($300k–$500k) and 40% (>$500k)—report living paycheck to paycheck due to lifestyle inflation and rising costs.
Mental health
fromBusiness Insider
5 months agoI have a 6-figure job and $25,000 in credit card debt. I fell victim to lifestyle creep, and inflation doesn't help.
A 27-year-old marketing professional carries $25,000 in credit card debt despite a six-figure salary due to lifestyle creep and new expenses.
Retirement
fromBusiness Insider
8 months agoWe thought we'd planned for a successful early retirement - but we're picking up side hustles just a few years in
Early retirement can still pose financial challenges despite good planning and savings.
Unexpected expenses and lifestyle changes can impact retirement budgets significantly.
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