I know people who make six figures and still live paycheck to paycheck.
My wife has had clients that were making 7 figures, living paycheck to paycheck, and going bankrupt. Not joking. The private school tuitions, new M-Bs every year, nannies, gardeners, big mansion in the best part of town, $30k shopping sprees at Saks and Nieman-Marcus, expensive European vacations - well, pretty soon it all adds up.
Not quite paycheck to paycheck but we pay for private school and had a child in a serious accident that racked up some medical bills (because I pay mine) and the usual government stealing.