The phenomenon of high-income low-net worth is described in detail in the personal finance classic The Millionaire Next Door. I strongly recommend it even though some aspects are quite dated.
You didn’t give an age for your $400k/yr couple but they are well-positioned to accumulate significant wealth in a short amount of time if they prioritize saving. The lesson of TMND is that it’s very easy to be an under-accumulator of wealth on any income if you are not prioritizing savings and budgeting.
I completely agree that Silicon Valley is disconnected from the reality in many other places.
You didn’t give an age for your $400k/yr couple but they are well-positioned to accumulate significant wealth in a short amount of time if they prioritize saving. The lesson of TMND is that it’s very easy to be an under-accumulator of wealth on any income if you are not prioritizing savings and budgeting.
I completely agree that Silicon Valley is disconnected from the reality in many other places.