Last Updated on September 2, 2023 by Robert C. Hoopes
Title: Many High-Income Americans Feel Financially Strained, Says Bloomberg Survey
In a recent survey conducted by Bloomberg, it has come to light that a significant number of Americans, despite earning high incomes, feel financially strained on a daily basis. Astonishingly, the survey revealed that one in four people earning over $175,000 a year describe themselves as “very poor,” “poor,” or “getting by but things are tight.”
This phenomenon has caught the attention of financial experts, who believe that misdirected spending might be the root cause behind this financial strain. Manisha Thakor, a certified financial planner with a Harvard MBA and author of the acclaimed book “MoneyZen: The Secret to Finding Your ‘Enough,'” has spoken out about this concerning trend.
Thakor, who had a successful career in investment banking before realizing the toll it took on her personal life, draws from her own experience in her book. She admits that her relentless pursuit of financial freedom led to emotional bankruptcy, causing her to miss out on important personal events and putting strain on her relationships.
The author emphasizes the importance of restructuring one’s life to ensure that income contributes to personal happiness. Thakor outlines three essential tools in her book that have helped her embrace what she terms as “joy-based spending” and find a healthier balance between financial health and emotional well-being.
By sharing her personal journey, Thakor hopes to inspire others who may be caught in a similar cycle of financial strain. She believes that it is vital for individuals to prioritize their emotional well-being and find a balance between spending habits and personal happiness.
Thakor’s insights and advice in “MoneyZen” provide a roadmap for those wanting to break free from the cravings of materialism and find a healthier way to manage their finances. By incorporating the principles outlined in her book, individuals can work towards achieving financial security while leading fulfilling lives.
As the survey results continue to raise eyebrows across the nation, experts like Manisha Thakor are calling attention to the need for a shift in mindset when it comes to financial health. While money remains an important aspect of our lives, striking a balance between financial responsibility and emotional well-being can ultimately lead to a happier and more fulfilling life.
Bloomberg survey uncovers financial strain among high-income Americans. (2021, Month XX). My MBA Career. Retrieved from [insert URL]