How Much Should High Earners Be Saving? (And Why a $1M Year Won’t Make You Rich)

Send us Fan MailIf you’re a high earner, one of the most important—and most overlooked—questions is: How much of your income should you actually be saving?In this episode, we break down the real difference between earning a high income and building wealth—and why those two things are not the same.Using a simple (but eye-opening) example of a $1 million income year, Carla walks through how taxes, spending, and lifestyle creep can quickly eat away at what feels like “life-changing” money. From there, she covers: How much high earners actually need to save (and why 10–15% may not be enough)  The difference between short-term savings and true long-term wealth building  Why maxing out your 401(k) alone isn’t sufficient for many high earners  Retirement savings benchmarks by age—and how to interpret them  How to tell if you’re on track, behind, or ahead  Why a real financial plan (not just a calculator) is key to making confident decisions She also shares practical guidance on when DIY planning tools make sense—and when it may be worth working with an advisor.If you’ve ever wondered whether you’re saving enough—or if your high income is actually translating into long-term wealth—this episode will give you clarity.