The financial trap of the upper-middle class: earning more but gaining less
Nick Maggiulli of Ritholtz Wealth Management argues that households earning $200,000 to $400,000 are caught in a 'financial arms race' where individual rational choices collectively erode quality of life. He points to shrinking new-home sizes, soaring costs for homes near top schools, and AI-driven productivity pressure as key factors. The result, he says, is that even six-figure earners feel financially fragile.
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Original headline: “Welcome to the ‘upper-middle-class trap’: why $300,000 a year doesn’t feel like winning anymore.” Browse more stories.