Not saying it's the main reason, but if you have to pay for your own health insurance, and you have a family, that can eat up a whole lot of even a low-six-figures household income. Then there's the cost if you actually need to use any healthcare....
Actually, even if your insurance is employer provided but you still have to pay a significant percentage of the premium, that can be a problem. $12+k/yr on top of what the employer's paying isn't uncommon. Most employers aren't as generous as FAANG and such.
Doubt that's the case for most, but it's one way for that to happen.
(I'd expect that poor spending choices are the main reason.)
[EDIT] Oh, childcare. It can easily be the case that your household income is $120,000 but $25,000 of it goes to childcare—but your household income would be $80,000 without the childcare, so you're still coming out ahead.
Actually, even if your insurance is employer provided but you still have to pay a significant percentage of the premium, that can be a problem. $12+k/yr on top of what the employer's paying isn't uncommon. Most employers aren't as generous as FAANG and such.
Doubt that's the case for most, but it's one way for that to happen.
(I'd expect that poor spending choices are the main reason.)
[EDIT] Oh, childcare. It can easily be the case that your household income is $120,000 but $25,000 of it goes to childcare—but your household income would be $80,000 without the childcare, so you're still coming out ahead.