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 multiyear 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. Around 36% of people have felt stressed when thinking about their finances within the past 30 days, according to the report.
And despite being ahead of the curve, even young high earners are worried; around 71% of millennials and 67% of Gen Zers earning six-figure salaries are stressed about their finances. The widespread strain has become so dire that one in five workers earning $135,000 or more feels “depressed” when thinking about their money at large.
They may sit atop a cushy income almost double the national average of around $66,000, but lifestyle creep and constant comparisons are warping how they see their paychecks. As it turns out, “money dysmorphia” might be the problem: having a perception about their money that does not match their actual financial reality.
“Income and age do not fully explain financial fulfillment,” the report explains. “Even within similar demographic groups, adults differ in how manageable their finances feel, how much control they have and whether money is helping them move toward the life they want.”
Social media and lifestyle creep are to blame for six-figure earners with ‘money dysmorphia’
For many six-figure earners, the problem isn’t necessarily how much is in their bank account—it’s how they perceive what they can do with it. Agnew explains that insecurity, harmful comparison habits, and past trauma around scarcity can all play a factor in why six-figure earners can feel “depressed” or anxious about their finances.
“These factors are woven into our financial DNA,” the behavioral scientist says. “Early money lessons like ‘A penny saved is a penny earned’ may live in the memory of a millionaire as guilt about spending. Conversely, a message like ‘You can’t take it with you’ for someone who witnessed their parents living paycheck to paycheck might feel guilty about saying no to a trip with friends—even if it’s beyond their budget.”
Social media is also a pressure cooker for financial stress. Just a five-minute scroll on their TikTok or Instagram feeds, and young workers are bound to see others their age boast high-flying lifestyles. And Agnew says that millennials and Gen Zers who grew up in the digital era are especially susceptible; online shopping, push notifications, and social media all contribute to “removing a person from their reality.” Agnew explains that comparison can become a “slippery slope” in accurately assessing one’s own finances.
“As status becomes more visual, what was once the goal now seems like the standard of success,” she adds.
Plus, the veneer of six-figure salaries has cracked. The financial therapist explains that years ago, a family of four could be satisfied living off of a single income of $125,000 annually—now, it’s nearly impossible to live comfortably doing the same. Rising childcare, housing, food, and medical costs have chipped away at disposable income. And the new threshold to live financially free is skyrocketing, thanks to lifestyle inflation. Even 41% of American workers making between $300,001 and $500,000—and 40% of those reeling in over $500,000—say they’re living paycheck to paycheck, according to a 2025 report from Goldman Sachs.
So while young high earners think they may have “made it” by crossing the $100,000 mark, they’ll still be chasing an aspirational lifestyle that’s no longer within their budget.
“The six-figure income is no longer the holy grail in many areas of our country,” Agnew says. “Earning $100K to $200K often doesn’t cut it to meet typical ‘rites of passage’ goals like home ownership or a wedding.”
