For generations, workers have been promised that six-figure salaries come with a luxurious lifestyle, professional prestige and financial freedom. But even high earners are feeling the pinch in the global cost of living crisis – and a six-figure salary no longer gives them the security it once had.
Nearly seven in 10 Americans who earn more than $135,000 a year are financially unfulfilled, according to a new Gallup study from financial services firm Edward Jones.
As many as 77% of those who bring home $135,000 to $174,999 and 63% of those who make over $175,000 are dissatisfied with their financial situation.
And money morale is down across the board: About 55% of Americans say their finances are worsening, following a multi-year trend. Around 83% of working people overall – that’s around 216 million Americans – report financial stress, strain or uncertainty.
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Why the Rich Are Stressed About Their Finances: “Money Dysmorphia” and Lack of Control
“Financial fulfillment is not just defined by income and wealth,” explains Ashley Agnew, certified financial therapist and behavioral scientist at Edward Jones Assets. “It’s about combining the security it offers with personal focus and a sense of control, which leads to trusting money management.”
Finances often rise to the top of people’s biggest concerns, leaving room for fear. According to the report, around 36% of people have felt stressed while thinking about their finances in the last 30 days.
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 bad that one in five workers earning $135,000 or more feel “depressed” when thinking about their money overall.
Although they have comfortable incomes that are almost twice the national average of about $66,000, increasing lifestyle changes and constant comparisons are distorting their view of their paychecks. As it turns out, the problem may be “money dysmorphia”: a perception of their money that doesn’t match their actual financial reality.
“Income and age do not fully explain financial fulfillment,” the report said. “Even within similar populations, adults vary in how manageable their finances are, how much control they have, and whether money helps them achieve the life they want.”
Social media and lifestyle creep are to blame for six-figure earners with “money dysmorphia”
For many people with six figures, the problem isn’t necessarily how much is in their bank account, but rather what they think they can do with it. Agnew explains that insecurity, harmful comparison habits, and past trauma related to scarcity can all contribute to six-figure earners feeling “depressed” or worried about their finances.
“These factors are anchored in our financial DNA,” says the behavioral scientist. “Early money lessons like “A penny saved is a penny earned” can be remembered by a millionaire as guilt-tripping spending. Conversely, a message like “You can’t take it with you” might make someone who watched their parents live paycheck to paycheck feel guilty about turning down a trip with friends — even if it’s beyond their budget.”
Social media is also a pressure cooker for financial stress. Just five minutes of scrolling through their TikTok or Instagram feeds and young workers will see others their age boasting high-flying lifestyles. And Agnew says Millennials and Generation Zers who grew up in the digital age are particularly vulnerable; 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” when it comes to accurately assessing one’s finances.
“As status becomes more visible, what was once the goal now appears to be the measure of success,” she adds.
In addition, the façade of six-figure salaries has burst. The financial therapist explains that years ago a family of four could be happy with an income of $125,000 a year – today it is almost impossible to live comfortably on the same income. Rising costs for childcare, housing, food and medical care reduce disposable income. And the new threshold for living financially free is skyrocketing thanks to lifestyle inflation. As many as 41% of American workers earning between $300,001 and $500,000 — and 40% of those making over $500,000 — say they live paycheck to paycheck, according to a 2025 Goldman Sachs report.
So while young high earners think they may have “made it” by breaking the $100,000 mark, they will still be chasing an ambitious lifestyle that is no longer in their budget.
“Six-figure income is no longer the holy grail in many areas of our country,” says Agnew. “Earning $100,000 to $200,000 is often not enough to fulfill typical “rites of passage” goals such as owning a home or getting married.”
https://fortune.com/2026/07/28/despite-making-over-135k-1-in-5-high-earners-feel-depressed-thinking-about-finances-may-have-money-dysmorphia/
