A quarter of Americans now say they need to make at least $150,000 to feel safe.
More and more Americans say they need more money to feel safe financially. This is a phenomenon that is partly financially based, experts say.
About 77% of Americans said they felt economically stable and have risen by a few percentage points since 2023, according to Monday. investigation By bank rate. And they say that more than a quarter of Americans need at least $150,000 to feel actually safe financially. $62,000 a yearAccording to the Bureau of Labor Statistics.
Bank rates, which some claim to be high inflation, have risen about 24% since the start of the 2020 pandemic. This means that the $150,000 salary survey respondents are looking for in 2025, which is equivalent to about $120,000 in 2020. BLS.
Salaries have risen even before the pandemic, but since 2019, the main prices of American life, such as household prices and car prices, which have both risen double digits. Parsons.
“We have experienced some of the highest inflation levels since the 1970s. This shock has led to some of the higher cost of living perceptions, whether exaggerated or not,” Parsons said. luck.
Still, pay perceptions may be based on more than just the economy, said Elizabeth Layer, senior economist at nerd wallets. A report from Nerdwallet last year found that 42% of Americans claim that more than six or more people are alive “Salary of salary.”
“When it comes to income, I think it’s the human nature that we want at least a little more than what we have,” the tenant said. luck. “Lifestyle creep means that as our income rises, many of us will spend more on housing, clothing, entertainment and everything else.”
Despite Americans’ perception that a higher salary is needed, the economy and markets appear to be in good condition. US Added Employed 139,000 people in May. The unemployment rate was stable at 4.2%, surpassing analyst expectations. Meanwhile, the stock has returned nearby Record highsdespite recently Geopolitical uncertainty.
But people still feel pressure to rise in prices, and thanks to inflation, even the $150,000 wage survey respondents no longer offer the same luxury as before, said Sarah Foster, economic analyst at Ban Rate. luck.
“Today’s expensive economy makes everything from housing and education to healthcare and childcare, so many Americans find themselves struggling to reach even six-figure income. In many high-cost cities and states, $150,000 is considered a middle-income salary,” she said.