Why So Many 6-Figure Earners Still Feel Broke — And How to Break Free

Did you know that nearly 45% of Canadians earning over $100,000 a year still live paycheck to paycheck?

(Source: FP Canada Financial Stress Index 2023.)

It’s more common than you think. In fact, this is one of the top money frustrations I hear from my Gen X clients — parents in their 40s and 50s — who are working hard, earning well, and still wondering:

Why does it feel like I should have more money by now?

The culprit? Lifestyle creep.

What Is Lifestyle Creep?

Lifestyle creep is what happens when your spending slowly rises to match your income.

You get a raise — and a new car payment.

You buy your dream home — and with it comes higher taxes, bigger utility bills, and more maintenance.

One new streaming subscription here, one upgraded phone plan there… and before you know it, your expenses have quietly grown.

It’s sneaky, because it rarely feels like you’re overspending. It just feels like life.

Why Gen X Is Especially Prone to This

If you’re like many in our generation, you’re juggling a lot:

• Supporting aging parents

• Raising kids — and often covering university costs

• Keeping up with your peers and professional circles

• Managing a bigger home, upgraded car, more vacations

The pressure to “look successful” adds up. And so do the bills.

That’s why even in your peak earning years, you may still feel stuck financially — as though the money disappears the moment it lands in your account.

Breaking the Cycle

Here’s the truth: It’s not a personal failure. It’s not that you’re bad with money.

Lifestyle creep is an invisible trap — and one that many smart, capable people fall into.

But the good news is: you can change this.

Here are a few strategies I recommend to my clients:

✅ Pay yourself first. Automate savings — especially when you get a raise or bonus.

✅ Take a lifestyle pause. Don’t automatically upgrade your life with each raise. Pause, reflect, and ask if the upgrade truly serves your long-term goals.

✅ Audit your spending. Review subscriptions, services, and “nice to haves” that may no longer bring real value.

✅ Have open conversations at home. Get your spouse or family involved. Lifestyle creep often happens at the household level.

And remember — this is absolutely doable. You can start small and build momentum over time.

Want More Help?

If you’ve ever caught yourself asking: “How do I avoid the trap of lifestyle creep in my 40s and 50s?” — I’ve just recorded a video that will walk you through this in more detail:

👉 https://youtu.be/keOWYaJGoek?si=PzdRr-7cbrj6zFT0

If this resonated with you — I’d love to hear your thoughts. Have you experienced lifestyle creep? What helped you turn things around?

Drop a comment or send me a message — I’d be happy to chat.