I’m 40 and after working hard and doing over $1m last year, I should clear $2m this year

There was a point in time when I’d read stories about people earning massive salaries and get pretty jealous. But you know what? I’ve changed my tune a bit.

The reality is that a lot of people who are higher earners get there via hard work and sacrifices. And for some people, it means taking a risk, like starting a business. So I’ve realized I should not hold a grudge against people with large salaries who work their way up to that point.

In this Reddit post, we have someone who has, as they say, worked their butt off to potentially clear $2 million in income in 2025. And while they don’t share too many details, I think it’s a great thing to let stories like these serve as inspiration. But there’s also a big warning I feel the need to share.

It’s not a bad thing to set income goals

Some people grow complacent with their income and don’t see their earnings take off for many years — or ever. But if your goal is to earn a lot more money than what you’re making now, that doesn’t make you greedy — it makes you ambitious.

However, you need a plan. So rather than just tell yourself “I want to make more money,” try to set an actual income goal based on a realistic business plan or career path. That could, for example, mean working your way up the ladder at your current job or switching fields in pursuit of a larger paycheck.

Make sure not to fall victim to lifestyle creep

I’m a big fan of people working hard and seeing results in the form of a larger paycheck. But it’s also important to be careful with spending as your income rises — especially if it rises rapidly, which seems to the case for the poster above.

I have friends whose income has risen in their 30s or 40s as their careers progressed, and some took that as an opportunity to trade in their cars for fancier models and buy very expensive houses. But now, they’re not necessarily in a better position financially despite earning a lot more money than they did five or 10 years ago.

Instead, these friends of mine are virtually living paycheck to paycheck. Granted, those are big paychecks. But their savings aren’t in the best shape despite high earnings, and they’re not necessarily on track for retirement even though at their income levels, there’s really no excuse not to be maxing out a 401(k).

So if your income takes off, celebrate that. But don’t go overboard. And also, sit down with a financial advisor to map out a budget that allows you to enjoy your earnings without getting in over your head.

I wish some of my friends would’ve done that when their incomes rose. Even though none of these people are making $2 million like the poster above, a couple are probably getting closer to the $750,000 mark — yet they have little money in the bank to show for it. And I’d like to see anyone reading this avoid the same mistake.

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