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Cake day: August 5th, 2023

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  • More than half of six-figure earners said they would have to double their income to feel financially secure.

    “People used to feel when you got to six figures or above that it was a sign of financial stability,” said Libby Rodney, chief strategy officer and futurist at The Harris Poll.

    Mr. Rodney is full of shit, whether he knows it or not. There was a study done on the psychology of earning more money than you need to live. There’s an interesting phenomenon that arises; people always think they need more to feel secure. $100k feels they need $150k, $400k needs $600k, and this pattern continues all the way up to $15m, on average. I wouldn’t be surprised if the peak is even higher nowadays, the study was conducted in the early 2000’s I think. I will come back and edit this with more details of said study so I’m not just talking out my ass.