\n<\/p>\n
About 14% of all U.S. households make $200,000 or more per year, according to 2023 Census data<\/a>.<\/p>\n But a significant salary hasn\u2019t translated to big account balances<\/a> for some of these consumers \u2014 which experts have dubbed \u201cHENRYs<\/a>,\u201d or \u201chigh earners, not rich yet.\u201d<\/p>\n Rising costs, debt and lifestyle creep can leave them feeling stuck, experts say. Nearly two-thirds, or 62%, of people with salaries over $300,000 a year struggle with credit card debt, a new survey<\/a> from BHG Financial found. Other reports have found many six-figure earners still live paycheck to paycheck<\/a>.<\/p>\n \u201cEarning doesn\u2019t actually make you feel rich; spending it does,\u201d said Sabrina Romanoff, a clinical psychologist. \u201cIf most people spent 99% of their paycheck, they\u2019d feel quite rich. And it\u2019s the paradox here. When we\u2019re in accumulation mode, it\u2019s very difficult to feel rich.\u201d<\/p>\n More from Personal Finance:<\/strong> Americans say they would need to make $520,000 a year, on average, to feel rich, according to a 2024 Bankrate survey<\/a>.<\/p>\n The more money people earn, the more they say they need to feel comfortable. Americans making under $50,000 said they needed an average $157,000 a year to live comfortably, while those making at least $100,000 said they would need $246,000.<\/p>\n<\/div>\n Marie Incontrera, 39, pictured at her apartment in Manhattan.<\/p>\n Kaan Oguz | CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n Marie Incontrera, 39, worked as a professional composer, bandleader and pianist before launching her virtual assistant business in 2016. She then expanded her business during the pandemic into a digital marketing consulting agency.<\/p>\n The career pivot has multiplied her income. Incontrera anticipates her business\u2019 revenue for 2025 to be around $1.4 million. She expects to take an owner\u2019s draw of $300,000 to $400,000 this year.<\/p>\n \u201cI had a pretty successful career as a musician through most of my 20s,\u201d Incontrera told CNBC. \u201cBut the thing they don\u2019t tell you about having a career as a musician in music school is that you can be playing Carnegie Hall, which I was, and I was making $15,000 a year.\u201d<\/p>\n Despite her income going from $15,000 to $300,000 per year, Incontrera still doesn\u2019t feel rich.<\/p>\n \u201cI would have thought back then that the amount of money that I have in the bank right now, I would be rich, right? I would have just thought, \u2018Oh, yeah, she\u2019s made it\u2019 \u2026 and I don\u2019t feel that way,\u201d she said. \u201cI have more money anxiety, almost, now than I ever did in my 20s.\u201d<\/p>\n<\/div>\n \u201cI feel very lucky. I feel privileged, but I do not feel rich,\u201d Incontrera said. \u201cI know that I am on a hamster wheel with my business. I actually really love the hamster wheel. I love what I do, but I also realize that I can\u2019t stop.\u201d<\/p>\n That\u2019s not unusual, experts say.<\/p>\n \u201cIt can be pretty easy for someone to feel like, I\u2019m making really good money, but I don\u2019t have a lot of discretionary income,\u201d said Kamila Elliott, CEO of wealth management firm Collective Wealth Partners in Atlanta, and member of the CNBC Financial Advisor Council<\/a>.<\/p>\n \u201cOne of the things I focus on with my clients is a budget should be a representation of your values,\u201d Elliott said. \u201cThe issue is you can\u2019t value everything \u2026 You have to pick maybe one or two things where you\u2019re going to focus your discretionary spending and then take that extra and reroute that to savings so you can start feeling rich.\u201d<\/p>\n Watch the <\/strong>video<\/strong><\/a> above to learn how spending habits can leave even high earners feeling like they\u2019re on a never-ending hamster wheel.<\/strong><\/p>\n<\/div>\n<\/div>\n\n
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Affordable Care Act health plan enrollees could face \u2018subsidy cliff\u2019 in 2026<\/a>
Trump\u2019s \u2018big beautiful bill\u2019 includes these 2025 tax changes<\/a><\/p>\n\u2018I feel privileged, but I do not feel rich\u2019<\/h2>\n
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