Why Americans Earning $500K a Year Still Feel Broke
5/6/202637 min
Ed Elson brings on Ramit Sethi and Ben Carlson to dig into a striking Goldman Sachs finding: 40% of households earning over $500K say they're living paycheck to paycheck. They debate what the stat reveals about American financial anxiety and lifestyle inflation, why housing is the real crisis, and what it actually takes to feel financially secure. Ramit Sethi is the Host of Netflix’s “How to Get Rich,” bestselling author, & host of the Money For Couples podcast. Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth and author of the forthcoming book, “Risk & Reward”. Get your tickets to the Prof G Markets tour Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
Clips
Transcript preview
First 90 secondsSpeaker 00:00
[upbeat music] Love don't cost a thing, but weddings sure do.
Speaker 10:04
I would say every single person I go to and I'm like, "So how much over budget are you right now?" And I've, I've never heard someone say they were under budget.
Speaker 00:13
[laughs] Matrimony's rising price tag. That's this week on Explain It To Me. Find new episodes Sundays wherever you get your podcasts.
Ed Elson· Host0:22
[upbeat music] Today's number, 170. That's the five-year percentage increase in Google searches for the phrase, "How to looksmax." However, new geolocation data shows that the number was skewed by a large volume of searches from number 1 Observatory Circle, also known as the Vice President's house.
Ramit Sethi· Guest0:49
17,000 scriptures- I'll, I'll be your side ... money markets matter. If money is evil, then that building is hell.
Ben Carlson· Guest0:56
The show goes on! [crowd cheering] Step right in there and watch the sale, sale.
Ed Elson· Host1:01
Welcome to Prof G Markets. I'm Ed Elson. It is May 6th. Let's check in on yesterday's market vitals. The major indices rose and the S&P 500 hit a fresh high after the US said Iran had not broken the ceasefire despite Monday's direct hostilities. Brent crude fell as fears that the war would reignite eased. Treasury yields fell. And finally, Samsung's stock rose 5%, while Intel stock jumped 13%