If you browse your favorite social channel, it can be easy to instantly feel like you’re falling behind. But as Fran Walsh (@FranWalsh73) points out in a thought-provoking tweet, what you see online isn’t the full story—and it shouldn’t dictate your financial journey.
You might see that your friend just bought a $90,000 car, another posted stunning photos from a 3-week trip to Italy, and suddenly, you’re questioning your own financial progress. Social media has turned into a highlight reel that fuels comparison, often leaving us feeling inadequate.
Walsh shares how to reframe your mindset, focus on what truly matters, and build a life that feels rich to you.
How Social Media Distorts Reality
Let’s start with the obvious: social media is a curated showcase of people’s best moments. That $90,000 car? The Italian vacation? They’re the highlights, not the full picture.
As Walsh notes, “Group chats rarely include tax returns,” and few people openly share the stress or lack of freedom that might come with their lavish lifestyles. This selective sharing creates a distorted view of success, making it easy to assume everyone else is doing better than you.
Research backs this up. There is a correlation between social media use and depression (aka feeling inadequate), especially among young adults. Essentially, comparing yourself to others on Facebook can make you feel bad.
Walsh’s thread urges us to stop comparing and start focusing on what we can control. Because someone else’s wins doesn’t mean you’re losing.
What’s Really Going On Financially
To ground us in reality, Walsh shares IRS data on U.S. incomes, showing where most people actually stand:
- Top 25% earn $107,000 or more annually.
- Top 10% earn $160,000 or more.
- Top 5% earn $245,000 or more.
- Top 1% earn $652,000 or more
These numbers reveal that many of the people we compare ourselves to might not be as far ahead as we think. That friend with the flashy car? They might be in the top 25%, but that doesn’t mean they’re financially secure.
Considering Lifestyle Inflation vs Wealth
Income, Walsh emphasizes, doesn’t tell the whole story. High earners can still struggle if they’re not saving, if their income is inconsistent, or if they’re buried in debt. A 2024 Investopedia article supports this, noting that wealth comes from “what you keep, not what you earn.”
Walsh illustrates this with a powerful example: a household earning $150,000 and saving 20% consistently will build more wealth over time than someone earning $400,000 but saving nothing. The lesson? Visible spending isn’t success—it might even signal financial strain.
A Mindset Shift to Greener Pastures
The core of Walsh’s message is a mindset shift. Stop measuring your success against others. “Someone else’s income doesn’t affect your goals,” she writes. “Someone else’s spending doesn’t reduce your freedom.” In other words, you’re playing a completely different financial game—one that should be defined by your own values and priorities.
This perspective is liberating. Comparison, as Walsh points out, is a trap. There will always be someone earning more, spending more, or posting more. But none of that determines your financial future.
Even if someone is genuinely thriving—earning a lot and saving—Walsh encourages us to see it as inspiration, not a threat. “There is room for EVERYONE to WIN!” she declares. Instead of envy, let their success motivate you to improve your own habits.
Practical Steps to Build Your Financial Freedom
So, how do you break free from the comparison cycle and build a financially secure future? Walsh offers a clear, actionable plan:
- Build Your Own System: Create a financial plan tailored to your goals, not someone else’s lifestyle.
- Automate Your Savings: Set up automatic transfers to ensure you’re consistently saving a portion of your income.
- Invest Every Month: Even small, regular investments can grow over time through compound interest.
- Focus on Progress, Not Perfection: Small, steady steps are more sustainable than chasing an idealized version of success.
Investopedia highlights the power of starting investments early and staying consistent to grow wealth over the long term, even if it requires being frugal. By focusing on your own system, you’re setting yourself up for financial independence—without the stress of keeping up with others.
Define Your Own Rich Life
Ultimately, Walsh’s thread is a call to redefine what “rich” means to you. Income isn’t wealth. Spending doesn’t equal success. And comparison only distracts you from your own path. Instead, focus on what you can control: your savings, your investments, and your plan. As Walsh puts it, “Build a life that feels rich to YOU.”
