Exactly.

I’m well off enough that I don’t have to worry about anything breaking. A new bike, washing machine, even entire kitchen would of course be a nuisance, but not bother me financially.

I also saved enough and live frugal enough that I could easily live years without any income.

That gives me so much more peace of mind. I don’t have to worry about getting fired, I don’t have to worry about a stolen bike, etc.

A good friend of mine has a good degree, but in a much less comfortable field. She’s constantly worried that she might be let go, since she’s not earning that much, has to pay back loans and lives in an expensive city. And even she is still privileged, because at least she’s not a single mom without formal qualifications.