Have you heard this term before? High Earner Not Rich Yet. This is used to describe people who have a high income, but an even higher lifestyle.
I learned the term reading an article about a couple who called into Dave Ramsey’s show. They earn 225,000 between the 2 of them, but they have almost 1,000,000 in debt (student loans, car loans, mortgage, credit cards…). Due to their debt load and rising interest rates, they are now on the verge of bankruptcy.
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