Yes. Just having a high income does not ensure your financial security. Millions of Americans make much more than average, and yet are still one paycheck away from disaster, because they spend nearly all they make, and have no short-term or long-term financial plan. Many experts suggest evidence of this phenomenon by looking at the number of foreclosures of very expensive houses, condominiums, and vacation properties that came on the market after 2008. Many of these people made well over $100,000 per year, yet did not have emergency funds available to ride through a job change or other life change because they spent everything they made and more.