Eryn Schultz, founder of Her Personal Finance, addressed high-earning millennials on Instagram, revealing that a $300K-per-year household puts you in the top 5% of millennials, but many still don’t feel wealthy. Housing costs in major cities exceed $1 million, childcare is around $2,000 per child per month, and interest rates are high, leading to financial challenges for many millennials.

Schultz recommends tracking expenses to better understand financial health. By mapping out housing costs, childcare expenses, and savings, individuals can gain clarity on their financial situation and make adjustments as needed. This exercise can help identify areas for improvement and potentially shift spending habits to achieve financial goals.

Read more at Yahoo Finance: Why Millennials Making $300K Don’t Feel Like They’re Wealthy, According To a Personal Finance Expert