For generations, workers have been told that six-figure salaries come with luxury lifestyles, career prestige, and financial freedom. But even high earners are feeling pressure in a global cost-of-living crisis, and a six-figure salary no longer buys the peace of mind it once did.

Nearly seven in 10 Americans earning more than $135,000 a year are not financially fulfilled, according to new Gallup research from financial services firm Edward Jones.

Among those earning $135,000 to $174,999, 77% are not satisfied with their financial situation. That figure is 63% for people earning more than $175,000.

Money morale has also been weakening broadly. About 55% of Americans say their finances are getting worse, continuing a multi-year trend. Around 83% of professionals overall—representing about 216 million Americans—report financial stress, strain, or uncertainty, underscoring that the pressure is not limited to lower earners.

Why wealthy earners are stressed about money: ‘money dysmorphia’ and a lack of control

“Financial fulfillment is not just defined by income and net worth,” Ashley Agnew, a certified financial therapist and behavioral scientist at Edward Jones, told Fortune. “It’s about combining the security it provides with personal alignment and a feeling of control that leads to a confident relationship with money.”

Finances often rise to the top of people’s biggest concerns, leaving room for anxiety. According to the report, about 36% of people have felt stressed when thinking about their finances in the past 30 days.

Even younger high earners are feeling the strain. Around 71% of millennials and 67% of Gen Zers earning six-figure salaries say they are stressed about their finances. The pressure has become so intense that one in five workers earning $135,000 or more say they feel “depressed” when thinking about money.

Although they earn close to twice the national average of about $66,000, lifestyle creep and constant comparison can distort how they view their paychecks. The issue, Agnew said, may be “money dysmorphia” — a perception of money that does not match financial reality.

“Income and age do not fully explain financial fulfillment,” the report says. “Even within similar demographic groups, adults differ in how manageable their finances feel, how much control they have and whether money is helping them move toward the life they want.”

Social media and lifestyle creep fuel financial stress

For many six-figure earners, the problem is not necessarily how much is in the bank, but how they perceive what they can do with it. Agnew said insecurity, harmful comparison habits, and past trauma around scarcity can all contribute to why high earners feel “depressed” or anxious about their finances.

“These factors are woven into our financial DNA,” the behavioral scientist said. “Early money lessons like, ‘a penny saved is a penny earned,’ may live in the memory of a millionaire as guilt about spending. Conversely, a message like, ‘You can’t take it with you,’ for someone who witnessed their parents living paycheck-to-paycheck might feel guilty about saying no to a trip with friends—even if it’s beyond their budget.”

Social media can intensify that pressure. A five-minute scroll through TikTok or Instagram can expose young workers to peers showing off high-flying lifestyles. Agnew said millennials and Gen Zers who grew up in the digital era are especially vulnerable because online shopping, push notifications, and social media can pull people away from reality.

Comparison, she said, can become a “slippery slope” when people try to assess their own finances.

“As status becomes more visual, what was once the goal now seems like the standard of success,” she added.

The appeal of six-figure salaries has also weakened as living costs have risen. Agnew said that years ago, a family of four could live comfortably on a single income of $125,000 a year, but that is much harder now. Rising childcare, housing, food, and medical costs have reduced disposable income, while lifestyle inflation has pushed up the new threshold for feeling financially free.

That context helps explain why a higher paycheck can still feel precarious: even among top earners, core expenses and milestone goals such as housing, weddings, and family costs can absorb more of the income than people expect. It also means financial stress is increasingly shaped by expectations and obligations, not just salary levels.

Even 41% of American workers earning between $300,001 and $500,000—and 40% of those earning more than $500,000—say they are living paycheck to paycheck, according to a 2025 report from Goldman Sachs.

So while many young high earners may think they have “made it” by crossing the $100,000 mark, they may still be chasing an aspirational lifestyle that is out of reach.

“The six-figure income is no longer the holy grail in many areas of our country,” Agnew said. “Earning $100K-$200K often doesn’t cut it to meet typical ‘rites of passage’ goals like home ownership or a wedding.”

This story was originally featured on Fortune.com