Earning six figures a year can be the finish line.
It can be the golden milestone, the badge of honor showing to the world that you made it and have now claimed your fat slice of the American Dream.
You can save more. Invest more. And most importantly, spend more. Once you start earning six figures, you’re a “high earner.” You get the velvet rope treatment and enter a club with other high earners basking in your newfound echelon of society.
Well, that used to be true. What was unimaginable before is becoming increasingly common: Some people need much, much more than $100,000 a year to get by.
High earners in the most expensive cities in America
The internet lost its collective mind in July 2018 when the U.S. Department of Housing discovered that a family of four living on an income of $117,400 would be considered “low income” in San Francisco.