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Cost of Living Crisis: Millionaires Struggle to Save

10/15/2025

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Summary

Story summary

Rising prices for essentials like food and housing drive a cost of living crisis for U.S. workers.
A Goldman Sachs report shows 41% of high earners earning $300,001 to $500,000 and 40% earning over $500,000 live paycheck to paycheck.
Only 16% of those earning $200,001 to $300,000 report similar paycheck-to-paycheck struggles.
Lifestyle creep drives financial strain across income levels.
Many millionaires rent instead of buying as costs rise.

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Story summary

Rising prices for essentials like food and housing drive a cost of living crisis for U.S. workers.
A Goldman Sachs report shows 41% of high earners earning $300,001 to $500,000 and 40% earning over $500,000 live paycheck to paycheck.
Only 16% of those earning $200,001 to $300,000 report similar paycheck-to-paycheck struggles.
Lifestyle creep drives financial strain across income levels.
Many millionaires rent instead of buying as costs rise.