Matt Elson

We are speaking with Ben Carlson, Director of Institutional Asset Management at Ritholtz Wealth Management, and also the author of the forthcoming book, Risk and Reward.

And also our friend Ramit Sethi, host of Netflix's How to Get Rich, bestselling author and host of the Money for Couples podcast.

Ben and Ramit, thank you so much for joining me on the show here.

Ben, I'm going to start with you because

I know you've written about this.

You've talked about this on your own podcast.

I mean, this data is just quite striking.

The fact that you've got people making more than $500,000 a year, 40% of them say they're living paycheck to paycheck.

I'd also add people who are making $300,000 to $500,000 a year.

They say the same thing.

41% of them say they're living paycheck to paycheck.

Really striking data.

Let's just get your initial reactions.

So I'll just go with the definition that they gave us in this survey.

The definition of paycheck to paycheck, according to the Goldman survey, was, quote, I find it tough to make progress on any long-term financial goals.

Ramit, what do you make of that definition and what do you make of the data?

Yeah, just looking at the other options that you could have picked if you were polled in this survey.

There were two other options.

One of them was, so the question was, how would you describe your financial situation?

One of them was, I live paycheck to paycheck.