Rick Diamond/Getty Images) Quick Read Chris earns over $400K annually but accumulated nearly $500K in combined debts including $98K in car loans. Ramsey advised living on $100K per year instead of spending the full $400K to eliminate debt and build wealth. High income does not guarantee financial security without controlling lifestyle inflation and prioritizing debt elimination. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to real ...